Press release
Shockwave Therapy Market Size Outlook, Supportive Judgments
It involves targeting acoustic shockwaves towards injured areas using handheld or fixed devices. The therapy is effective in treating chronic pain associated with heel and elbows, and it is increasingly being used to address sports-related injuries.
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One of the key factors driving the market growth is the increasing prevalence of sports-related injuries and the growing geriatric population. The number of individuals aged 65 years and above is expected to reach 1.5 billion by 2050, according to the United Nations (UN)'s World Population Ageing 2019 report. The share of the population aged 65 years or over is also projected to increase from 9% in 2019 to 16% by 2050. These demographic trends contribute to the demand for shockwave therapy.
Additionally, the market growth is supported by the rise in chronic muscular and tendon disorders and advancements in healthcare technology. However, the high cost of shockwave therapy devices and treatment procedures hinders market growth.
Geographically, North America dominates the shockwave therapy market in terms of revenue. The region has a high incidence of sports-related injuries, arthritis, and musculoskeletal disorders. Moreover, it is home to leading market players. On the other hand, the Asia Pacific region is expected to exhibit the highest compound annual growth rate (CAGR) during the forecast period.
Factors such as the rising geriatric and target populations and increased investment in healthcare infrastructure contribute to the growth in this region.
Major market players in the global shockwave therapy market include Boston Scientific Corporation, Dornier MedTech, EDAP TMS GmbH, Karl Storz SE & Co. KG, Lumenis, Olympus Corporation, Medtrue Entreprise Co., Ltd, Sanuwave Health, Inc, Bio-Med Inc, and Likamed GmbH.
Recent developments in the market include Menoufia University's sponsorship for a clinical trial evaluating the effectiveness and safety of focused Low-Intensity Extracorporeal Shock Wave Therapy (Li-ESWT) for the treatment of erectile dysfunction.
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In addition, Shockwave Medical, Inc. launched the Shockwave M5+ peripheral IVL catheter in March 2022, which is designed to decrease IVL treatment time and expand IVL therapy to patients with larger vessel sizes.
The market report provides historical data for 2019-2021, with the base year as 2021. The forecast period is from 2022 to 2029. The report covers revenue forecasts, company rankings, competitive landscape, growth factors, and trends. It includes segments based on product type, technology, end-user, and region.
Product Types in the market include mobile shockwave therapy devices and fixed shockwave therapy devices. Technologies used in shockwave therapy include electromagnetic technique, electrohydraulic technique, piezoelectric technique, and radial technique. The end-users of shockwave therapy include hospitals, physiotherapy clinics, ambulatory care centers, radiology labs, and others.
The regional scope of the market includes North America, Europe, Asia Pacific, Latin America, and the Rest of the World.
Overall, the market report aims to provide insights into the market size of different segments and countries, as well as forecast future values. It covers both qualitative and quantitative aspects of the industry and analyzes driving factors, challenges, opportunities, competitive landscape, and product offerings of key players.
The global Smart market report answers questions such as:
• What is the market size and forecast of the Global Smart airport Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Smart airport Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart airport Market?
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