Shock Wave Therapy Market Size, Share, and Forecast 2030

The global shockwave therapy market size is projected to reach USD 3.1 billion by 2030 and registering a CAGR of 11.12% from 2022 to 2030.

The shockwave therapy market mainly deals with multi-disciplinary device is better made use of in various surgical procedures relating to the orthopedics sector and sports medicine. With the increase in the sport tournament which are organized worldwide the number of sports injuries have increased to a great extent. These sport injuries require speedy recovery along with faster pain relief.

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The need for restoring the mobility of the patients is very important in order to maintain their stand in the world competition. In the cardiovascular diseases and urological disorders which require greater precision and accuracy. The number of chronic diseases that have increased worldwide as a result of the rapid urbanization and modernization require d to be treated with advanced technologies.

Regional Snapshots

The North American market has shown the fastest growth as a result of the huge population suffering with chronic diseases pertaining to the rapid modernization of lifestyle. The large number of people belonging to the geriatric age group has led to the increasing chronic ailments in the society which require advanced technologies and equipment for treatment which can heal faster with lesser side effects.

Asia Pacific region shows a significant growth in the sector as a result of the developing status of the countries. Lack of medical facilities and supplies in these countries lead to the development of chronic ailments which require shockwave therapy for better recovery. The European nations show a considerable growth during the forecast period as a result of the increasing chronic diseases among the people.

Market Dynamics

What are the market drivers of shock wave therapy market?

Sports injury forms the largest market for the shockwaves therapy which helps to heal the injuries faster by reducing the pain of the injured patient within a shorter period of time than usual. The increasing competition among the countries worldwide the requirement and demand for shockwave therapy has increased tremendously.

The increasing ailments and chronic diseases among the population has also led to the increase in demand for better and advance technologies for therapeutic purposes. Cardiovascular diseases and urological disorders are mainly treated using these advanced methods where results are obtained with greater precision and accuracy.

The congenital disorders too find an important place in this technology. Orthopedic surgeries are carried out easily with accuracy with the help of these shockwave therapies. The pain of the individual is managed quickly with faster healing processes. These multiple benefits prove to be the driving factors for the market during the forecast period.

What are the restraints of shock wave therapy market?

The high cost which is associated with these advanced technologies and procedures cannot be afforded by the developing and under developed countries which forms a great barrier for the market to grow during the forecast period. The lower socioeconomic status of the countries makes it impossible for them to opt for such advanced facilities and treatments. The awareness regarding the availability of this procedures is also very less among these nations.

A huge amount of investment is required in order to setup in the equipments which are required for performing these advanced procedures. The government needs to take official steps in order to make the facilities available to the common man at cheaper rates. On the other hand, the manufacturers of these devices and equipments might have to face the losses as a result of the unfordable crowd residing in these countries.

Which are the opportunities of shock wave therapy market?

Rapid increase in the number of chronic diseases that people are suffering with helps the market to record a higher revenue during the forecast period. The increasing sedentary lifestyle practices which are followed in the post covid phase are giving rise to chronic spinal ailments and back problems. These disorders require proper management and treatment in order to achieve best results.

The number of cardiovascular diseases that have increased among the people as a result of the sedentary lifestyle practices proves to be a great opportunity for the shocked therapy market. Laco physical activity among the people also increases the number of chronic diseases in the society.

The various benefits and schemes that are provided by the developed nations to their citizens helps them to enjoy these advanced facilities easily. The easier reimbursement facilities and insurance services that are provided to the people in the development nations makes it affordable for them to opt for such procedures with advanced technology.

What are the challenges of shock wave therapy market?

The high cost associated with these advanced techniques proves to be a challenge for the market growth during the forecast period.

Lack of health care facilities in the under developed and developing nations hinders the growth of the market.

The strict lockdowns and restricted movement during the pandemic had challenged the growth of the market.