Albany, NY -- (SBWIRE) -- 12/17/2018 -- Shock Wave Therapy Device Market: Snapshot
Exposition of the global shock wave therapy device market can be attributed to increase in number of musculoskeletal disorders across the globe. The global shock wave therapy device market was valued at over US$ 91.6 Mn in 2016 and is projected to surpass US$ 139.9 Mn by 2025, expanding at a CAGR of over 5.0% from 2017 to 2025. The global market is expanding at a considerable pace due to rise in digitization for pain management practices, high incidences of orthopedic surgery, occurrence of kidney stone among geriatric population, erectile dysfunction in men, and surge in demand for analgesic free treatment procedure.
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Shock wave therapy device is an administrative and clinical tool that helps improve the treatment efficiency of kidney stone. The lithotripsy is the most common treatment used to target and break the stone in kidney into fragments. This system is also known as extracorporeal shock wave lithotripsy. The nonsurgical technique uses high-energy shock waves to treat kidney stones.
The shock wave therapy device helps patients suffering from erectile dysfunction to improve the overall operational efficiency and patient care. High prevalence and incidence rate of erectile dysfunction, cardiac diseases, increase in number of cases of kidney stones, and orthopedic injuries across the globe have increased patient flow to private clinics and hospitals. These factors are projected to increase demand for shock wave therapy devices in the near future. Additionally, technological advancements such as combined shock wave therapy integration facilities with other electronic probes, and laser technology is expected to fuel the shock wave therapy device market during the forecast period.
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The global shock wave therapy device market is broadly segmented into application, modality, end-user, and region. In terms of technology, the global market is categorized into focused shock wave generation, radial or ballistic shock wave generation, and combined shock wave generation. The focused shock wave generation is sub-segmented into electromagnetic shock wave generation (EMSG), electrohydraulic shock wave generation (EHSG), and piezoelectric shock wave generation (PSG). In terms of revenue, the focused shock wave generation segment accounted for a key share of the global market in 2016, the radial or ballistic shock wave generation segment is anticipated to expand at exponential growth rate during the forecast period. The segment is estimated to gain significant share of the market share by the end of 2025. The radial or ballistic shock wave generation offers several advantages over the focused shock wave generation and thus, radial or ballistic shock wave generation is gaining popularity among orthopedic and urologist physicians.
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Based on application, the global shock wave therapy device is segmented into orthopedic, cardiology, erectile dysfunction, urology, and others. The orthopedic and urology segments dominated the global market and this trend is likely to continue by the end of 2025 with marginal increase in its market share. Increase in adoption of pain free treatment procedures by the younger population, value added features provided by the shock wave therapy devices, and increase in stimulation of cell proliferation, tissue regeneration, and angiogenesis have contributed to the prominent share of the segments. In terms of modality, the shock wave therapy device market is segmented into portable shock wave devices and fixed shock wave devices. Based on end-user, the global market is segmented into hospitals, clinics, rehab centers, and others.
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