Medical Dynamometer Market Growth Forecast: Surpassing USD 1310.7 Million by 2033 at 7.2% CAGR
Medical dynamometer market size from USD 654.0 million in 2023 to USD 1310.7 million in 10 years. The rise in the number of people suffering from arthritis drives the market’s growth.
Newark, April 24, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 654.0 million medical dynamometer market will reach USD 1310.7 million by 2033. Growing rates of chronic illnesses are anticipated to drive market expansion. Other factors boosting the global need for medical dynamometers include the ageing population, increased sports injuries, and the need for multiple minimally invasive surgery room treatments. The global medical dynamometer market is expected to be driven by the increased incidence of osteoporosis, sports-related injuries, and rising consumer demand globally. The need for medical dynamometers is predicted to increase due to increased surgical procedures, bone-related fracture cases, and an ageing population. In addition, the industry’s adoption of new, cutting-edge technologies and government financing for medical dynamometer product research and development is anticipated to accelerate market expansion in the next years. The market would probably be constrained in developing the medical dynamometer by high system use costs and a lack of advanced and better healthcare facilities in emerging nations. On the other hand, rising supply chain industry expansion and higher R&D spending levels will significantly boost the medical dynamometer market by generating new prospects.
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Key Insights on Medical Dynamometer Market
North America will account for the largest market size during the forecast period.
The growth can be attributed to the region’s increasing prevalence of chronic illnesses, the growing demand for accurate and reliable medical equipment, and the growing interest in fitness and health. The United States is the primary market in North America for medical dynamometers. Other factors influencing the market expansion in the region include the government’s adoption of supportive policies and the increase in investment in healthcare. Growth in North America is driven by increased surgical procedures for several procedures, including femoral neck fracture, trochanteric fracture, carpal tunnel release, wrist bone fracture repair, and other procedures.
The hand dynamometer segment dominated the market with the most significant revenue of USD 183.1 million.
The hand dynamometer segment dominated the market with the most significant revenue of USD 183.1 million. Hand-held dynamometers are portable so that doctors can evaluate muscle strength in various contexts, including sporting events and house calls. Healthcare professionals like these devices because of their accuracy and ease, which is expected to fuel the market’s revenue growth.
The orthopaedic segment dominated the market with the most significant revenue of USD 163.5 million.
The orthopaedic segment dominated the market with the most significant revenue of USD 163.5 million. The segment’s growth is anticipated to be driven by the rise in arthritis cases and several sports-related injuries.
The hospital segment dominated the market with the most significant revenue of USD 222.3 million.
The hospital segment dominated the market with the most significant revenue of USD 222.3 million. Hospitals can afford expensive instruments like dynamometers, which measure muscular injuries and evaluate muscular strength since they have access to the newest medical technology and equipment. Additionally, hospitals have the medical staff and tools needed to operate and maintain these devices.
Market Dynamics:
Drivers: Rise in orthopaedic surgeries
Medical dynamometers are becoming increasingly necessary in hospitals and rehabilitation facilities due to the rise in orthopaedic surgery and sports injuries. These tools support the creation of personalised rehabilitation plans and evaluation a patient’s state of recovery. Additionally, the market is expanding due to patients’ increasing awareness of the advantages of physical therapy and rehabilitation exercises.
Restraint: High cost
The high price of medical dynamometers and the availability of substitute testing equipment may limit market expansion. Furthermore, the requirement for more skilled individuals to operate these devices may hinder the expansion of the market in some places.
Opportunity: Developing economies
Growing numbers of older people, increased knee replacement procedures, accidents, and pro-business government policies are just a few reasons developing nations provide significant opportunities for large corporations operating in the medical dynamometer market. Consequently, significant global pharmaceutical companies have been urged to establish research and development facilities in these regions. Tax reductions and government encouragement to build basic infrastructure are important factors drawing market players to these places. Moreover, labour is inexpensive, which allows businesses to increase productivity.
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Some of the major players operating in the medical dynamometer market are:
● Marsden Weighing Group
● KERN & SOHN
● JTECH Medical Industries
● Biodex Medical Systems Inc.
● 3B Scientific
● JLW Instruments
● Charder Electronic
● Fabrication Enterprises
● Hausmann Industries
● North Coast Medical Inc.
Key Segments cover in the market:
By Product:
● Hand Dynamometer
● Squeeze Dynamometer
● Chest Dynamometer
● Push Pull Dynamometer
● Others
By Application:
● Neurology
● Medical Trauma
● Orthopedic
● Cardiology
● Others
By End-User:
● Rehabilitation Centers
● Physiotherapy Clinics
● Hospitals
● Others
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About the report:
The global medical dynamometer market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
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