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| Shock Wave Therapy Devices |
The market for shockwave therapy was valued at $1,171.19 million in 2021 and is anticipated to grow to $2,269.62 million by 2031, with a compound annual growth rate (CAGR) of 6.8% between 2022 and 2031. Shock wave therapy (SWT) is a non-invasive, FDA-approved medical technique that uses powerful shock waves that travel faster than sound to treat chronic, severe musculoskeletal problems. Electronic SWT devices produce low-energy sound waves that pass through the intended area through a gel medium.
The main reason driving
the growth of the shockwave therapy market is the increase in incidences of
muscle and tendon problems caused by sports-related injuries. For instance, the
National Safety Council's data indicates that injuries related to exercise and
exercise equipment slightly increased in 2021 (409,224 injuries compared to
377,939 in 2020), 15 to 24 year olds have the highest injury rate, males are
injured nearly twice as often as females (4,148,404 males vs. 2,158,887
females), and 91% of injury victims are treated in emergency departments.
According to Health and Safety Executive, the UK, 41% of ill health was encountered among the UK employees due to work related musculoskeletal disorders (WRMSD), accounting for around 1,311,000 cases in 2014. Furthermore, according to the Center for Disease Control (CDC) around 22.7% of adults are reported with some or the other kind of arthritis, accounting for 54.4 million cases during 2013-2015. The high prevalence rate of musculoskeletal disorders creates a highly conducive environment for growth of Shock Wave Therapy Devices Market
Instruments for shock
wave therapy In the years 2023 to 2032, market size is anticipated to increase
significantly. This is due to an increase in the number of sports-related and
unintentional accidents, patients with urological, musculoskeletal, and cardiac
problems, as well as patients having various surgical operations. The demand
for shock wave therapy devices will also increase due to the rising incidence
of kidney stones among geriatric patients globally.
Increasing investments
in research and development efforts in the field, in line with the value of
technologically sophisticated pain treatment devices, are fueling the expansion
of the market for shock wave therapy devices. For instance, the Intravascular
Lithotripsy (IVL) for calcified cardiovascular disease manufacturers Shockwave
Medical Inc. and Genesis MedTech Group reported in May 2022 that the National
Medical Products Administration (NMPA) in China had approved their Shockwave
IVL System.
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