Medical Dynamometer Developers' Recent Interest in Treating Osteoporosis Holds Potential to Enhance Outcomes Over the Next Decade
The medical dynamometer market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales in the industry. The research provides in-depth analysis on significant factors, including demand forecasts, prospects, drivers, and important players' tactics. Additionally, the paper analyzes current trends in a wide range of areas, including product, end user, material, and application across key regions.
NEW YORK, Sept. 15, 2022 /PRNewswire/ -- The global medical dynamometer market is likely to grow at a CAGR of 7.7% during 2020-2026. The market is set to expand at a fast pace as orthopedic problems are becoming more common around the globe.
Sales are also projected to be influenced by rising number of patients experiencing physical trauma after undergoing neurological and cardiovascular procedures, as well as car accidents. Increasing number of orthopedic surgeries and growing prevalence of juvenile & adult arthritis are also likely to create high demand for medical dynamometers.
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Additionally, growth in the market is estimated to be supported by rising number of research activities using smart devices for orthopedic-based therapies and surging healthcare awareness across developed countries. For instance, according to the Brookings Institute, there is an economic return of US$ 2 to US$ 4 across developing countries for every US$ 1 invested in health.
Besides, according to the National Inpatient Sample, by 2026, primary total hip replacement (THR) and primary total knee replacement (TKR) procedures are expected to expand by 171% and up to 189%, respectively, to reach 635,000 and 1.28 million procedures, respectively. Further, osteoporosis causes more than 8.9 million fractures per year, according to the International Osteoporosis Foundation (IOF).
Cases of osteoporosis are projected to grow at a fast pace in the evaluation period with surging prevalence of overactive thyroid, multiple myeloma, history of weight loss, and inflammatory bowel disease. Owing to the aforementioned factors, sales of medical dynamometers are likely to grow at a considerable rate in the assessment period.
Key Takeaways:
- North America medical dynamometer market is projected to expand at a CAGR of 6.8% and generate a share of nearly 2/5th in the forthcoming years.
- Asia Pacific medical dynamometer market is set to exhibit steady growth at a CAGR of 8.5% and account for more than 1/5th of sales through 2026.
- Based on application, the orthopedic category is anticipated to dominate the global medical dynamometer market and account for over 30% of share in the assessment period.
- Medical trauma is likely to be the second-largest segment by application, accounting for approximately 25.5% of market share by the end of 2026.
- By product, the hand dynamometer segment is anticipated to remain at the forefront owing to the rising number of patients with sports injuries and hand traumas.
Growth Drivers:
- Rising prevalence of tumors, fractures, and scoliosis, as well as increasing number of spinal procedures is likely to drive demand during the assessment period.
- Efficacy of medical dynamometers as a feasible alternative to physiotherapy treatment is anticipated to drive their demand during the forthcoming years.
- Proven benefits of using medical dynamometers in treating anterior cruciate ligament (ACL) injury and lateral ankle sprains is likely to boost the market.
Restraints:
- Isokinetic dynamometers can deliver valuable isometric and dynamic data, yet require an involved setup and are very expensive, which may hamper their sales.
- Hand-held muscle dynamometry is easy to use, but the examiner should be able to exert enough force for a break test, which is often difficult while testing large muscles.
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Competitive Landscape
The medical dynamometer market is characterized by the presence of only a few players, as it is still at an evolving stage. Majority of the market players are focusing on research & development (R&D) and innovation to consolidate their positions. Further, merging with renowned companies or acquiring those firms that can provide market players with a strategic edge, is another key trend in this space.
For instance,
- JTech Medical Industries' 100% shares were acquired by ADDvise Group AB and a Letter of Intent with regards to this was signed in December 2021.
- In February 2020, ActivBody introduced ActivForce, its new digital dynamometer platform, which can be paired with the Activ5 force measurement device. It enables clinicians to gain real-time data during manual muscle testing.
Key Companies Profiled by Fact.MR
- JTECH Medical Industries
- Hausmann Industries
- 3B Scientific Fabrication Enterprises Inc.
- KERN & SOHN GmbH
- North Coast Medical Inc.
More Valuable Insights on Medical Dynamometer Market
In the latest study, Fact.MR offers a detailed analysis on global medical dynamometer market for the forecast period of 2020 to 2026. This study also highlights key drivers promoting the sales of medical dynamometer across below segments:
By Product:
- Squeeze Dynamometer
- Pinch Gauge
- Hand Dynamometer
- Chest Dynamometer
- Push-pull Dynamometer
- Others
By End User:
- Hospitals
- Rehabilitation Centers
- Physiotherapy Clinics
- Others
By Material:
- Electronic
- Mechanical
By Application:
- Orthopedic
- Cardiology
- Neurology
- Medical Trauma
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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Key Questions Covered in the Medical Dynamometer Market Report:
- What is the projected value of the medical dynamometer market in 2020?
- At what rate will the global medical dynamometer market grow until 2026?
- Which are the factors hampering the growth in the medical dynamometer market?
- Which region is expected to lead in the global medical dynamometer market during 2020-2026?
- Which are the factors driving the medical dynamometer market during the forecast period?
- What is the expected market value of medical dynamometer during the forecast period?
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