The shockwave therapy market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of USD 3,090.17 million by 2028 and grow at a CAGR of 5.78% in the above-mentioned forecast period. Increase in the prevalence of musculoskeletal disorders can be attributed to long-working hours, sedentary lifestyles and obesity which act as the major factor driving the shockwave therapy market.
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Shockwave therapy is defined as a multidisciplinary device which is used in orthopaedics, physiotherapy, sports medicine, urology and veterinary medicine. Its main assets are fast pain relief and mobility restoration. Shock wave therapy is also known as extracorporeal shock wave therapy (ESWT) which is a non-invasive treatment that is used in extensive areas of medical field that includes physical therapy, orthopedics, cardiology, and urology.
Rise in the incidence of chronic muscular and tendon disorders, back and neck pain along with sports injuries acts as the vital factor escalating the market growth, also increase in the prevalence of arthritis and musculoskeletal disorders and rise in the rate of prevalence of bone diseases as well increasing geriatric population are the major factors among others driving the shockwave therapy market. Moreover, rise in the investments in the research and development activities for development of medical devices and increase in the technological advancements and modernization in the healthcare sector will further create new opportunities for shockwave therapy market in the forecasted period of 2021-2028.
North America dominates the shockwave therapy market due to increase in the prevalence of arthritis and musculoskeletal disorders and rise in the rate of prevalence of bone diseases as well increasing geriatric population in this region. Asia-Pacific is the expected region in terms of growth in shockwave therapy market due to increase in the prevalence of arthritis and musculoskeletal disorders in this region.
The major players covered in the shockwave therapy market report are Boston Scientific Corporation, Dornier MedTech, EDAP TMS, KARL STORZ SE & Co. KG, Lumenis, Olympus Corporation, MEDTRUE ENTREPRISE CO.,LTD, SANUWAVE, and SANUWAVE Health, Inc, Bio-Med Inc, Likamed GmbH, MTS Medical, Siemens, United Medical Systems Inc, Zimmer Biomet and Cook among other domestic and global players.
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