Medical Dynamometer Market – Snapshot
The global medical dynamometer market is driven by increase in the number of surgeries and rise in prevalence of bone injuries. The global market was valued at US$ 522.3 Mn in 2017 and is projected to reach US$ 984.6 Mn by 2026 at a CAGR of 7.4% from 2018 to 2026 owing to increase in the geriatric population.
Medical dynamometers are devices that measure the strength of different muscle groups along with bones and neurons. These also provide resistance that matches a patient’s requirement such as treatment for weakness, pain, or fatigue at specific points. These devices are utilized for clinical decision making and outcome evaluation of pathologies such as tendon injury of the hand, carpal tunnel syndrome, neuromuscular disorder, and nerve injury. These provide an accurate and objective data which is required for reimbursable rehabilitation services.
High prevalence of orthopedic surgeries, arthritic patients, rise in ergonomic health approaches, increase in research and development initiatives, and surge in demand for diagnostic devices fuel the growth of the global medical dynamometer market.
The global medical dynamometer market has been segmented based on product, operation, application, end-user, and region. In terms of product, the market has been classified into squeeze dynamometer, pinch gauge, hand dynamometer, chest dynamometer, push-pull dynamometer, and others. The hand dynamometer segment accounted for major share of the global market in terms of revenue in 2017. The segment is projected to expand at a high CAGR during the forecast period. The segment is anticipated to gain significant market share by 2026.
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Based on operation, the global medical dynamometer market has been bifurcated into electronic and mechanical. The electronic segment is expected to expand at a higher CAGR from 2018 to 2026. Availability of new and innovative devices in the market and increase in preference for digital electronic devices are likely to drive the segment during the forecast period.
In terms of application, the global medical dynamometer market has been categorized into orthopedic, neurology, cardiology, medical trauma, and others. The orthopedic segment is projected to expand at a high CAGR from 2018 to 2026 owing to rise in incidence of rupture tendons such as Achilles tendon rupture globally. Increase in sports injuries is also anticipated to propel the orthopedic segment during the forecast period.
In terms of end-user, the global medical dynamometer market has been divided into hospitals, rehabilitation centers, physiotherapy clinics, and others. The hospitals segment accounted for a leading share of the market in 2017. Adoption of new generation dynamometers such as System 4 Pro is likely to augment the segment.
In terms of region, the global medical dynamometer market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2017. It is projected to lose market share by 2026. The region’s dominance is attributed to increase in sports activity and rise in number of accidents. Early-phase diagnosis of arthritis and treatment of tendon surgeries or therapy drive the medical biotechnology market, which in turn is expected to propel the medical dynamometer market in North America.
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Europe has favorable government policies regarding health care infrastructure and awareness programs for arthritis population. The market in Asia Pacific is expected to grow at a rapid pace due to rise in population, change in lifestyle, increase in number of accidents, and surge in per capita expenditure. Additionally, economic growth and rise in distribution channels support health care infrastructure improvement in developing countries such as India and China. These factors collectively support the growth of the market in Asia Pacific.
Companies such as JTECH Medical Industries, Inc., Hausmann Industries, 3B Scientific, Fabrication Enterprises, Inc., KERN & SOHN GmbH, Charder Electronic Co, Ltd., Marsden Weighing Group, North Coast Medical Inc., and JLW Instruments accounted for major share of the global medical dynamometer market in 2017. North Coast Medical, Inc. is a manufacturer, supplier, and distributor of rehabilitation medical care products. The company has over 40 years of experience in manufacturing and distribution. It offers a broad product portfolio of rehabilitation medical care.
Companies are adopting the strategy of acquisition and collaboration with parallel companies in order to improve and strengthen geographic presence in the global market. In March 2014, North Coast Medical, Inc. acquired ActivaTek, Inc. to expand business in the pain management segment. In May 2016, Charder Electronic Co, Ltd. announced a new distributor (Charder North America) in North America. Charder North America will help to increase Charder Electronic’s revenue from North America and bring more accessibility to the current customers and serve many new customers.
This post was originally published on The Market Plan