Global Extracorporeal Shock Wave Therapy Market Size, Share, Trends, Growth factors, Top Key Players, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Global Extracorporeal Shock Wave Therapy Market report offers Market Size, Dynamics, Regional Market Share, Top Key Players, Latest trends, Growth factors, Industry Stats, Historic Market, Business Intelligence, Business Research Reports, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Extracorporeal Shock Wave Therap Market (ESWT) is developed for the treatment of gall and kidney stones. Extracorporeal shock wave therapy has been used to treat rise in number of musculoskeletal conditions, like rotator cuff tendinitis, tennis elbow, patellar tendinopathy, plantar fasciitis, bony non-unions and Achilles tendinopathy. Shock wave therapy devices are non-invasive treatment for the musculoskeletal pain and can be used frequently in urology, physiotherapy, sports medicine, veterinary medicine and orthopaedics. It is also called as Extracorporeal Shock Wave Therapy (ESWT). Abrupt, high amplitude mechanical energy pulses are generated with help of the electromagnetic coil to manage and reduce the pain in ESWT process. ESWT is an alternative for surgery and also helps in speedy recovery of patients who are suffering from various tendon, muscle and joint disorders.
Rise in prevalence of arthritis and musculoskeletal disorders are the critical driving factors for the growth of the ESWT market. Demand for advance technological treatment for pain management and non-invasive nature of the therapy is the prime factors expected to drive the growth of ESWT market over the forecast period. ESWT helps in metabolic stimulation and increased cellular activity of the body which plays a major role in the rising demand for ESWT devices in the market. As per the report given by the Population Reference Bureau, world’s population from 2016, is going to increase by 33% and estimated to reach 9.9 Bn by 2050 in which is mainly characterized by a large pool of geriatric population who are is highly prone to the wounds and injuries in turn creates a positive environment for the growth of global shock wave therapy devices market. On the other hand, lack of skilled professionals for the operation and handling of the device and high cost of the therapy may constrain the growth of the ESWT market over the forecast period.
ESWT market segmented on the basis of type, technology, and end user
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On the basis of type:
• Mobile Shock Wave Therapy Devices
• Fixed Shock Wave Therapy Devices
On the basis of technology:
• Electromagnetic Technique
• Electrohydraulic Technique
• Piezoelectric Technique
• Radial Technique
On the basis of application:
• Kidney Stones
• Pancreatic Stones
• Uretic Stones
• Salivary Stones
• Musculoskeletal Disorders
On the basis of end-user:
• Hospitals
• Physiotherapy centres
• Ambulatory surgical centers
• Clinics
• Radiology labs
• Others
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ESWT market is expected to register a significant CAGR over a forecast period. As the sports-related injuries are common issues, ESWT market has gained more popularity by the sport clinicians and athletes. ESWT devices have received FDA-approval for lateral epicondylitis and plantar fasciitis. 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, as per to the Centre for Disease Control about 22.7% of adults are diagnosed with various kind of arthritis, which is accounting around 54.4 million cases from 2013-2015. The high prevalence rate of musculoskeletal disorders creates a highly conducive environment for growth of shock wave therapy devices market.
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Based on the geographical region, ESWT market is segmented as Latin America, North America, Asia Pacific, Europe, Middle East, and Africa. North America has the largest share in the global market, due to technological advancements and major investments in R&D of medical device technology. The Asia Pacific regions with emerging markets such as China and India are anticipated to show high growth in the market due to rise in population pool, changes in the lifestyle and healthcare infrastructure developments. Latin American countries like Brazil and Mexico have significant potential due to the evolving medical infrastructure.
Some of the players in the ESWT market are Dornier MedTech GmbH (Germany), Boston Scientific Corporation (U.S.), Cook Group Inc. (U.S.), C.R. Bard Inc. (U.S.), Medtrue Enterprise Co. Ltd. (U.K.), Olympus Corporation (Japan), Lumenis Ltd (Israel), Siemens AG (Germany), and Karl Storz GmbH (Germany)
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