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The medical dynamometer market share is expected to increase by USD 263.5 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.51%.
This medical dynamometer market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers medical dynamometer market segmentation by type (electronic and mechanical) and geography (North America, Europe, Asia, and Rest of World (ROW)). The medical dynamometer market report also offers information on several market vendors, including 3B Scientific GmbH, Alimed Inc., Bharat Medical Systems, Biodex Medical Systems Inc., Charder Electronic Co. Ltd., Electro Medical Inc., Fabrication Enterprises, Inc., Hausmann Enterprises, LLC., Hoggan Scientific LLC., JLW Instruments, JOHNSON SCALE CO. INC., JTECH MEDICAL INDUSTRIES INC., KERN and SOHN GmbH, Lafayette Instrument Co., Mark-10 Corp., MICROTEKNIK, North Coast Medical Inc., STERIKARE, and Marsden Group among others.
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The increasing prevalence of diseases is notably driving the medical dynamometer market growth, although factors such as stringent government regulations may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical dynamometer industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Medical Dynamometer Market Driver
One of the key factors driving growth in the medical dynamometer market is the increasing prevalence of diseases. The global prevalence of acute and chronic diseases, including cardiovascular, neurological, orthopedic, and respiratory diseases, is increasing significantly. In 2020, cardiovascular disease (CVD) accounted for approximately 19.05 million global deaths. The growing prevalence of chronic cardiac and orthopedic diseases is on the rise due to risk factors such as diabetes, hypertension, the consumption of tobacco, and obesity. Hence, the demand for medical dynamometers is increasing owing to the application of dynamometers in the evaluation of muscles, which is driving the growth of the global dynamometer market.
Key Medical Dynamometer Market Trend
The technological advances in medical devices is a medical dynamometer market trend that is expected to have a positive impact in the coming years. The market has been witnessing a growing trend of new technologies, such as the latest software update for medical devices. OEMs are continuously adopting these new innovative technologies to meet the growing customer demand. OEMs are also seeking to outsource services to contract manufacturers to implement such innovative technologies. Advanced technologies include the use of Industry 4.0 technologies, such as cloud computing, machine-to-machine communication, cyber-physical systems, and the introduction of advanced automation. The enhanced connectivity and data-gathering capabilities of these technologies help in achieving better end results and in following regulation-compliant manufacturing processes with efficient inventory and production management. These technologies are highly adopted by vendors to achieve better outputs, which, in turn, will drive the market in focus.
Key Medical Dynamometer Market Challenge
The stringent government regulations will be a major challenge for the medical dynamometer market during the forecast period. The global regulatory environment for medical equipment such as medical dynamometers is becoming increasingly stringent and unpredictable for medical dynamometer manufacturers. The FDA and other regulatory agencies in the US impose extensive compliance monitoring obligations on medical dynamometer manufacturers. These regulations will directly impact the product reviews and certification processes for many medical device manufacturers, such as medical dynamometers, and will significantly increase the time and resources required for product approvals. Thus, the stringency in medical dynamometers will negatively impact the market in focus.
This medical dynamometer market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global medical dynamometer market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the medical dynamometer market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the medical dynamometer market encompasses successful business strategies deployed by the key vendors. The medical dynamometer market is fragmented and the vendors are deploying growth strategies such as increasing their R&D investments to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The medical dynamometer market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the medical dynamometer market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for medical dynamometers in North America. Market growth in this region will be faster than the growth of the market in the European regions.
The favorable reimbursement policies, increasing expenditures and initiatives in healthcare, growing awareness among the general population about chronic diseases and the importance of health, and the rising number of product approvals will facilitate the medical dynamometer market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 negatively impacted the demand for medical dynamometers in North America as the supply chain network for medical equipment came to a halt in the first half of 2020. However, mass vaccination drives and the ease of lockdown restrictions marked recovery in the region since 2021. Thus, in the COVID-19 recovery phase, various medical treatments, such as arthritis and others, were restored in the region. These factors are thus expected to drive the regional market growth during the forecast period.
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The medical dynamometer market share growth in the electronic segment will be significant during the forecast period. Vendors are expanding their manufacturing facilities and making products that cater to the requirements of original equipment manufacturers (OEMs), owing to increasing demand and the need to reduce labor and infrastructure costs. The use of electronics in the healthcare industry is growing rapidly. The advent of robotics, wireless products, and advanced medical software has increased the demand for medical dynamometers.
This report provides an accurate prediction of the contribution of all the segments to the growth of the medical dynamometer market size and actionable market insights on post COVID-19 impact on each segment.
Medical Dynamometer Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.51% |
Market growth 2022-2026 |
$ 263.5 million |
Market structure |
Fragmented |
YoY growth (%) |
6.0 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Canada, Germany, UK, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3B Scientific GmbH, Alimed Inc., Bharat Medical Systems, Biodex Medical Systems Inc., Charder Electronic Co. Ltd., Electro Medical Inc., Fabrication Enterprises, Inc., Hausmann Enterprises, LLC., Hoggan Scientific LLC., JLW Instruments, JOHNSON SCALE CO. INC., JTECH MEDICAL INDUSTRIES INC., KERN and SOHN GmbH, Lafayette Instrument Co., Mark-10 Corp., MICROTEKNIK, North Coast Medical Inc., STERIKARE, and Marsden Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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