Shock Wave Therapy Device Market Detailed Study Analysis with Forecast by 2024
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Shockwave therapy devices use acoustic waves with high energy peak. These acoustic waves carries high energy resulting in analgesic effect and can be used to treat wide variety of painful spots, bone, soft tissue, myoskeletal tissues with subchronic, subacute and chronic conditions. This results into faster healing, regeneration, revascularization and reparative processes of the bone cells, tendons, ligaments or any other soft tissues which often leads return to pre-injury activity levels.
The shockwaves are effective in mechanical stimulation, increase cellular activity of body, break down calcific deposits primarily (not exclusively in tendon) by generating cavitation bubbles, and stimulates a metabolic reaction in the affected tissue. The developing infrastructure of healthcare and increasing use of technologically advanced equipment to carry out various therapies are few of the major drivers for the growth of shockwave therapy device market. In addition to it, increasing prevalence and incidence of bone injuries, musculoskeletal pain, epicondylitis, plantar fasciitis and patellar and achilles tendinopathies, etc. are expected to enhance the shockwave therapy device market.
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The shockwave therapy device market has been segmented by product type, technology, end-user and geography. By product type, the market can be segmented as mobile shockwave therapy devices and fixed shockwave therapy devices. Based on technology the market has been segmented into four types, namely, electromagnetic technique, electrohydraulic technique, piezoelectric technique, and radial technique. Out of the four techniques, electrohydraulic shockwaves are high-energy acoustic waves generating with high voltage electrode under water explosion. In lithotripsy (urology), shockwaves are primarily used to disintegrate urolithiasis, where as in orthopedics, it is used to induce the regeneration and tissue repair. The electromagnetic shockwave technique produces a strong magnetic field by electric current passing through the coil, and the subsequent compression of fluid generates the shockwave. In the piezoelectric technique, the high voltage current is applied to the sphere consisting piezo crystals inside it, which creates the piezoelectric effect and induces shockwave by deforming the crystals. The radial technique principle employs a focal point which is different from the other three techniques. The focal point has direct device-skin interface and is spread from the top of the radial device in megaphone fashion. Based on end-user, the shock wave therapy devices are segmented into hospitals, physiotherapy clinics, ambulatory care, radiology labs and others.
Geographically, North America was observed to be the largest shock wave therapy device market due to technological advancement in the region. The significant Investment in medical device technology research and development have resulted to recent advances in the technique. Due to increased government investment, Europe is the second largest shock wave therapy device market contributing to the market growth. However, Asia Pacific region is expected to be the fastest growing due to new development of novel technological facilities, increasing population, emerging health care infrastructures, and changing lifestyle. . Asia Pacific has some of the fastest growing economies such as Japan, China and India which are emerging regions for the growth of shock wave therapy device market. South American countries such as Brazil and Mexico are the regions which have significant potential in the market due to evolving medical structure, and high disposable income. The global major players operating in shock wave therapy device market include Boston Scientific Corporation, Dornier MedTech GmbH, C.R. Bard Inc, Cook Group Inc., Medtrue Enterprise Co. Ltd., Lumenis Ltd, Olympus Corporation, Siemens AG, Karl Storz Gmbh and Co. KG, Edaptms TMS and other significant players worldwide.
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