The key driving factors of the market are increasing prevalence of muscle and sports-related disorders.
Shockwave therapy or extracorporeal shockwave therapy (ESWT) is a non-invasive treatment that involves delivery of shock waves to injured soft tissue to reduce pain and promote healing. The shock waves used are short sound pulses that can penetrate water and soft tissue. The shock waves are generated outside the body (extracorporeally) in the handpiece of the device and transmitted into the patient's body by means of ultrasound gel, where they have a targeted effect on the painful areas. It is often used as a non-invasive treatment option for kidney stones and orthopaedic injuries. It can relieve pain and promote healing of injured tendons, ligaments, and other soft tissues. It accomplishes this by releasing growth factors in the injured tissue. Recently, urologists have begun using this therapy to treat erectile dysfunction (ED). Additionally, this therapy has been used to treat musculoskeletal conditions, including tennis elbow and bony nonunions. It's based on extracorporeal shock wave lithotripsy (ESWL). Increasing geriatric population, rising prevalence of muscular disorders and sports related injuries are key factors driving the growth of the market in the region. Furthermore, research and development activities and technological advancements in the healthcare sectors are anticipated to provide lucrative growth opportunities for key players operating in the market.
The rise in the prevalence of muscular disorders and sports related injuries is a major factor driving the growth of the market. According to the NCBI article published in October 2021, nearly 18.03% of injuries were recorded among elite athletes in South Korea, of which 15.57% suffered at least one injury. The report also mentioned that 56.74% of male athletes and 43.26% of female athletes sustained sports injuries. Similarly, the article published in BMJ in December 2022 mentioned that in China, 2.4% of the athletes and non-athletes incurred at least one damage, and 3.1% had at least one disease in 2022. The injury incidence was highest in athletes (14.4%), team officials (8.8%), staff (2.1%), and volunteers (2.1%). Therefore, as Asian countries are experiencing an increase in the frequency of various sports-related injuries, it is a major factor which is anticipated to drive the growth of the market.
The emergence of advanced technologies in orthopaedic surgery is expected to offer significant opportunities for the growth of the market over the forecast period. Also, the implementation of key initiatives to promote awareness regarding sports-related injuries are expected to contribute to the growth of the market. For instance, in March 2022, Healthium Medtech, a global medtech company, inaugurated the ‘Sport of Life’ initiative, with Abhinav Bindra Foundation Trust (ABFT). ABFT aims to support injured players in need with the cost of medical treatment, doctors, surgeries and rehabilitation facilities to recover from sport injuries and carry on with their career.
The high cost involved with shock wave therapy devices and treatment procedure is expected to have a negative impact on the growth of the market.
The lack of awareness about innovative and advanced applications of shock wave therapy devices is expected to pose as a key challenge for the growth. Also, the lack of investments in healthcare sector among the underdeveloped nations is expected to act as a major challenge for the growth of the market. Furthermore, the COVID-19 pandemic has emerged as a major challenge for the growth of the market.
5The report provides an in-depth analysis of the Asia-Pacific Shock Wave Therapy market including, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. An increase in prevalence of sports related injuries has led to rise in demand for shock wave therapy, and therefore, the market is expected to witness growth at a specific CAGR from 2023-2029.
Asia-Pacific Shock Wave Therapy market comprises of different market segments like type, technology, application, end-user and country.
On the basis of type, the Asia-Pacific Shock Wave Therapy market consists of key segments like
The mobile shockwave therapy device followed by fixed shockwave therapy device segment is expected to gain the major market share over the forecast period. The growth of the segment can be attributed to key advantages provided by these devices which include flexibility and operational efficiency.
Also, high investment in orthopaedic R&D projects by the public as well as private organizations is a key factor driving the growth of the segment.
By technology, the Asia-Pacific Shock Wave Therapy market includes segments like
The electrohydraulic shock wave segment is expected to lead the market over the forecast period. Electrohydraulic shockwaves are high-energy acoustic waves generated under water explosion with high voltage electrode. Electrohydraulic shock wave therapy is widely used in physiotherapy for orthopaedic disorders in the elderly people. Thus, the rising geriatric population is a major factor driving the growth of the segment. For instance, according to a 2022 report released by the U.S. Census Bureau, the number of older Asian people is expected to nearly triple over the next four decades. A majority of the older population in Asia will be residing in the Eastern subregion (491 million), where China is located, and the Southern subregion (464 million), where India is located.
Also, the piezoelectric shockwave therapy segment is expected to witness high growth over the estimated time period. It is a non-invasive process with no side effects and many patients have found it to be an effective alternative to surgery.
The Asia-Pacific Shock Wave Therapy market finds key applications in
The orthopaedic segment is expected to dominate the market over the forecast period. The rise in number of orthopaedic surgeries is expected to stimulate the demand for shock wave therapy devices. According to the 2022 All India Institute of Medical Sciences (AIIMS) report, more than 2. 5 lakh people undergo total knee replacement (TKR) in India every year, which is 2. 5 times the number of such procedures conducted annually about five years ago. Roughly 1.5 million orthopaedic implant surgeries were performed in China in 2019. This accounted for roughly 17 percent of the global total.
The erectile dysfunction segment is expected to witness high growth over the forecast period. The rise in popularity in shock wave therapy devices in the treatment of erectile dysfunction is expected to drive the growth of the segment.
The Asia-Pacific Shock Wave Therapy market finds major end-users like
The hospitals and clinics segment is expected to lead the market during the forecast period. An increasing demand for shock wave therapy in hospitals and clinics due to rise in prevalence of muscle disorders is a major factor which is expected to drive the growth of the segment.
The ambulatory surgical centers segment is expected to witness high growth over the estimated time period. An increase in number of orthopaedic surgeries is a major factor driving the growth of the segment.
The Asia-Pacific Shock Wave Therapy market is studied for the following countries:
Over the forecast period, China is expected to dominate the market. Increase in geriatric population, along with rise in prevalence of musculoskeletal disorders, are major factors driving the growth of the market in the region. According to the 2019 Global Burden of Diseases, Injuries, and Risk Factors Study (GBD), the number of prevalent cases and years lived with disability (YLD) counts in need of musculoskeletal rehabilitation increased greatly in China from 1990 to 2019. There will be 465.9 million Chinese people in need of rehabilitation, with the age-standardized prevalence rate increasing to 21,151 per 100,000 persons in 2030.
Japan is expected to witness high growth over the forecast period. Increasing geriatric population, growing incidence of muscular disorders and sports related injuries are key factors likely to fuel the growth of the market in the region. For instance, an article published in BSM Journal in August 2021, mentioned that in Japan, 9% of athletes occurred at least one injury, and 4% had at least one disease in 2021. The report also mentioned that the incidence of injury was highest in boxing (27%), BMX racing (27%), BMX freestyle (22%), skateboarding (21%), karate (19%), and handball (18%) in 2021. Thus, the rising prevalence of sports related injuries is likely to fuel the growth of the market in the region.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors with regard to the Shock Wave Therapy market. The report involves an exclusive study on COVID-19 impact analysis. In addition, the report also includes a complete analysis of changes in the Asia-Pacific Shock Wave Therapy market, expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of pandemics on Asia-Pacific economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market.
COVID-19 has created a global public health emergency that has affected almost every business and industry. The long-term effects are projected to have an impact on the industry growth during the forecast period. Limitations on elective surgical procedures and during lockdown have affected the demand for shock wave therapy devices. However, according to an article published in Medicines and Pharmacology in March 2021 reported the successful treatment of a patient with the diagnosis of COVID-19, severe chest pain, and significant shortness of breath using radial extracorporeal shock wave therapy (rESWT). The article indicated that the non-invasive, non-pharmacologic treatment might help in treating the breathing problems associated with the COVID-19 infection. The rise in the utilization of shock wave therapy for treating SARS-CoV-2-affected patients is expected to drive the growth of the market in the upcoming years.
The competitive landscape analysis of the Asia-Pacific Shock Wave Therapy market is primarily focused on expanding the growth of shock wave therapy industry in Asia-Pacific with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in shock wave therapy sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the requirements of consumers, which further contributes to healthy growth in the market.
The key players studied in the market are
March 2022: Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) had given approval to Shockwave Medical’s Shockwave C² Coronary Intravascular Lithotripsy (IVL) Catheter. The regulatory approval was supported by 30-day results obtained from the prospective, multicentre Disrupt CAD IV study.
April 2019: Medytox Korea, a subsidiary of Medytox, had licensed in and launched HNT Medical’s Carewave, Korea’s first extracorporeal shock wave equipment for erectile dysfunction approved by the Ministry of Food and Drug Safety. Carewave, a magnetic-type medical device, gives a weak impact on the male genital organ with low-intensity energy extracorporeal shock wave (LI-ESWT), which induces microtrauma of the cell to promote vascular endothelial growth factor expression and neovascularization and blood circulation, to help restore natural erectile function.
The Asia-Pacific Shock Wave Therapy market include segments like type, technology, application, end-user and geography. By type, the market includes segments like fixed shockwave therapy device and mobile shockwave therapy device. The mobile shockwave therapy device segment is expected to gain the major market share over the forecast period. By technology, the Asia-Pacific Shock Wave Therapy market includes segments like radial shock waves, electromagnetic shock waves, fixed shock waves, combined shock wave, electrohydraulic shock wave, piezoelectric shock wave and others. The electrohydraulic shock wave segment is expected to lead the market over the forecast period. The market finds key applications in urology, erectile dysfunction, orthopaedic and cardiology. The orthopaedic segment is expected to witness highest growth over the forecast period. The Asia-Pacific Shock Wave Therapy market includes end-users like hospitals and clinics, ambulatory surgical centers, physiotherapy clinics and others. The hospitals and clinics, segment is expected to lead the market during the forecast period. The Asia-Pacific Shock Wave Therapy Market is studied across countries: China, Japan, India, and Rest of Asia-Pacific. China is expected to dominate the market over the forecast period.
Sizing for Year:||2019-2029|
Players and its Competitors:|
Dornier MedTech GmbH
Inceler Medikal Co. Ltd.
Zimmer MedizinSysteme GmbH
Boston Scientific Corporation
EMS Electro Medical Systems SA
Karl Storz SE & Co KG
Siemens Healthineers AG
Medtrue Enterprise Co. Ltd.
Lumenis Ltd.United Medical Systems
What are the drivers for the Asia-Pacific Shock Wave Therapy market?
The key driving factors of the market are increasing prevalence of muscle and sports-related disorders.
Which is the leading application segment for the Asia-Pacific Shock Wave Therapy market?
Orthopaedic segment is anticipated to dominate the market during the forecast period.
Which country is gaining the majority of market share during the forecast period (2023-2029)?
China is expected to gain a major share of the market during the forecast period (2023-2029).