Rise in prevalence of arthritis and musculoskeletal disorders are the critical driving factors for the growth of the ESWT market. Demand for advance technological treatment for pain management and non-invasive nature of the therapy is the prime factors expected to drive the growth of ESWT market over the forecast period. ESWT helps in metabolic stimulation and increased cellular activity of the body which plays a major role in the rising demand for ESWT devices in the market. As per the report given by the Population Reference Bureau, world’s population from 2016, is going to increase by 33% and estimated to reach 9.9 Bn by 2050 in which is mainly characterized by a large pool of geriatric population who are is highly prone to the wounds and injuries in turn creates a positive environment for the growth of global shock wave therapy devices market. On the other hand, lack of skilled professionals for the operation and handling of the device and high cost of the therapy may constrain the growth of the ESWT market over the forecast period.
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ESWT market segmented on the basis of type, technology, and end user
On the basis of type:
Mobile Shock Wave Therapy Devices
Fixed Shock Wave Therapy Devices
On the basis of technology:
On the basis of application:
On the basis of end-user:
Ambulatory surgical centers
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ESWT market is expected to register a significant CAGR over a forecast period. As the sports-related injuries are common issues, ESWT market has gained more popularity by the sport clinicians and athletes. ESWT devices have received FDA-approval for lateral epicondylitis and plantar fasciitis. According to Health and Safety Executive, the UK, 41% of ill health was encountered among the UK employees due to work-related musculoskeletal disorders (WRMSD), accounting for around 1,311,000 cases in 2014. Furthermore, as per to the Centre for Disease Control about 22.7% of adults are diagnosed with various kind of arthritis, which is accounting around 54.4 million cases from 2013-2015. The high prevalence rate of musculoskeletal disorders creates a highly conducive environment for growth of shock wave therapy devices market.
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Based on the geographical region, ESWT market is segmented as Latin America, North America, Asia Pacific, Europe, Middle East, and Africa. North America has the largest share in the global market, due to technological advancements and major investments in R&D of medical device technology. The Asia Pacific regions with emerging markets such as China and India are anticipated to show high growth in the market due to rise in population pool, changes in the lifestyle and healthcare infrastructure developments. Latin American countries like Brazil and Mexico have significant potential due to the evolving medical infrastructure.
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Some of the players in the ESWT market are Dornier MedTech GmbH (Germany), Boston Scientific Corporation (U.S.), Cook Group Inc. (U.S.), C.R. Bard Inc. (U.S.), Medtrue Enterprise Co. Ltd. (U.K.), Olympus Corporation (Japan), Lumenis Ltd (Israel), Siemens AG (Germany), and Karl Storz GmbH (Germany)