Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Shockwave therapy or extracorporeal shockwave therapy (ESWT) a medical treatment that has been around for many years. It is often used as a non-invasive treatment option for kidney stones and orthopaedic injuries. Recently, urologists have begun using this therapy to treat erectile dysfunction (ED). This therapy enhances blood circulation and accelerates the healing of stubborn musculoskeletal conditions in bones, tendons, ligaments, and muscle. Recently, urologists have begun using this therapy to treat erectile dysfunction (ED). Additionally, ESWT 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 sector are anticipated to provide lucrative growth opportunities for key players operating in the market.
The rise in the prevalence of muscular disorders is a major factor driving the growth of the market. According to the Eurobarometer survey, 22% of the population currently had, or had experienced long-term muscle, bone and joint problems such as rheumatism and arthritis. t is estimated that 1 in 10 of the population who are 60 years or older have significant clinical problems that can be attributed to osteoarthritis. For both males and females, the incidence of osteoarthritis rises steeply after the age of 50 peaking in the 70-79 age group. For similar age groups and using radiographic diagnosis the prevalence of osteoarthritis hip was 9.90 % in the Netherlands and 3.88% in Sweden. The annual incidence rate of Rheumatoid Arthritis (RA) for adults up to age 99 ranges from 22 cases 100,000 in the UK to 35 r100,000 in Finland. The standardised prevalence rates in studies for adults up to age 99 range from 0.32% in France to 0.83% in the UK. The prevalence rates for females tend to be considerably higher than the rate for males. Thus, rise in muscular disorders is a major factor which is anticipated to drive the growth of the market. Also, several governments are focusing on awareness about musculoskeletal disorders. This is expected to further fuel the market growth over the estimated time period.
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.
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. Furthermore, the COVID-19 pandemic has emerged as a major challenge for the growth of the market.
The report provides an in-depth analysis of the Europe 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 the 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.
Europe Shock Wave Therapy market comprises of different market segments like type, technology, application, end-user and country.
On the basis of type, the Europe 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, a 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 Europe 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 Eurostat, the median age in the EU-27 is projected to increase by 4.5 years between 2019 and 2050, to reach 48.2 years. Women outnumber men at older ages within the EU-27 population: in 2019, there were more than twice as many very old women (aged 85 years or more) as very old men.
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 Europe 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 Eurostat, at least 1.12 million caesarean sections performed in the EU in 2020. Large positive rates of change reported in recent years by most EU Member States for keyhole surgery used to perform hysterectomies, appendectomies and repairs of inguinal hernias.
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 Europe Shock Wave Therapy market finds major end-users like
The hospitals and clinics segments are 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 Europe Shock Wave Therapy market is studied for the following countries:
Germany is expected to dominate the market over the forecast period. Increase in geriatric population, the rise in prevalence of musculoskeletal disorders, presence of an established healthcare infrastructure, along with implementation of key strategic initiatives are key factors driving the growth of the market in the region. According to Statistica, in 2021, the share of the German population aged 65 years and older was 22 percent. In general, figures have been growing year after year, which is part of a wider trend of the total population in Germany ageing.
U.K 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. Research conducted by the charity Podium Analytics found that 40% of the people questioned said they had sustained a sporting injury at some point in their life, with 34% of those still experiencing some kind of effect from the damage. Thus, an increase in 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 Europe 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 Europe economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
COVID-19 is` one of the major catastrophes of this century, started as a mere local transmission from the city of Wuhan in China and spread throughout the world. The COVID-19 pandemic is a healthcare crisis, leading to unprecedented impact on healthcare services, notable morbidity and mortality of the public and healthcare workers (HCWs), economic repercussions, and significant psychological effects. The COVID-19 pandemic is anticipated to have a positive impact on the growth of the market. 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 demand for Shock Wave Therapy in the upcoming years.
The competitive landscape analysis of the Europe Shock Wave Therapy market is primarily focused on expanding the growth of shock wave therapy industry in Europe 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
February 2021: The Food and Drug Administration (FDA) cleared the Shockwave intravascular lithotripsy (IVL) system for the treatment of severely calcified coronary artery plaques. The device uses a balloon to deliver sonic pressure waves that can pass through soft arterial tissue to “preferentially disrupt” calcified plaque and optimize stent placement. It thus holds the potential to displace rotational and orbital atherectomy devices that have been the market standard for these lesions.
March 2019: Modulith SLC was launched by STORZ Medical which is the first device for shockwave therapy which is mainly used for the treatment of angina pectoris.
The Europe 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 Europe 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 Europe 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 Europe Shock Wave Therapy Market is studied across countries like Germany, U.K, France, Italy, Spain, and Rest of Europe. Germany is expected to dominate the market over the forecast period.
| Market
Sizing for Year: | 2019-2029 |
| Base
Year: | 2022 |
| Forecast
Period: | 2023-2029 |
| Value: | USD Million |
| Market
Segment studied: | Type Technology Application End-user |
| Market
Players and its Competitors: | Olympus Corporation Dornier MedTech GmbH BTL Corporate Inceler Medikal Co. Ltd. SANUWAVE Zimmer MedizinSysteme GmbH Boston Scientific Corporation EMS Electro Medical Systems SA Karl Storz SE & Co KG Siemens Healthineers AG EDAP TMS Medtrue Enterprise Co. Ltd. Lumenis Ltd. |
FREQUENTLY ASKED QUESTIONS
What are the drivers for the Europe Shock Wave Therapy market?
Which is the leading application segment for the Europe Shock Wave Therapy market
Which is the leading application segment for the Europe 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)?
Germany is expected to gain a major share of the market during the forecast period (2023-2029).
