Increase in Number of Surgeries to Fuel Global Medical Dynamometer Market

The global medical dynamometer market was valued at USD 522.3 million in 2017 and is projected to expand at a CAGR of 7.4 percent from 2018 to 2026. Increase in sports activity and rise in number of accidents that lead to bone fractures are anticipated to propel the global market between 2018 and 2026. North America and Europe are expected to dominate the global market, owing to an increase in demand for novel technologies. The market in Asia Pacific is projected to expand at a high CAGR. The medical dynamometer market in Latin America is likely to grow at a moderate pace. Key factors contributing to the growth of the market in Brazil are rapid improvement in healthcare infrastructure and increase in purchasing power of people. Additionally, healthcare companies strive to cut hospitalization costs, while offering better services to patients in the country.

Increase in sports injuries to fuel market

Rise in health awareness, increase in the geriatric population, and surge in importance of adventure sports among youngsters have led to high incidence of sports injuries across the world. According to the Centers for Disease Control and Prevention, high school athletes alone account for 2 million injuries, 50,000 doctor visits, and 30,000 hospitalizations in the U.S. each year. High rate of youth sports injuries is fueled by an increase in overuse of the joints and repeated small trauma injuries. Additionally, the baby boomer population in the U.S. is able to exercise under medical supervision. This demography has, therefore, been reported to undergo surgeries such as hip and knee replacements and surgery for cartilage damage. Common sports-related injuries include ankle sprain, plantar fasciitis, shoulder sprains & strains, rotator cuff tears, and knee injuries. Therefore, increase in sports-related injuries has created high demand for knee cartilage repair procedures.

Rise in prevalence of bone injuries to drive market

Medical dynamometer is an alternative to physiotherapy treatment for those suffering from various joint, muscle, and tendon disorders. These devices are efficient in rapid pain management and mobility restoration. Hence, these are used to speed up the recovery process and cure various indications which lead to acute or chronic pain. According to the International Osteoporosis Foundation, 2017, osteoporosis causes more than 8.9 million fractures across the world each year, with an osteoporotic fracture every 3 seconds. By 2050, the global incidence of hip fracture in men is projected to increase by 310 percent and 240 percent in women, as compared to the rates in 1990. According to the World Health Organization, 45 percent of road traffic fatalities in low-income countries occurs among pedestrians, while it is estimated at 29 percent in middle-income and 18 percent in high-income countries among pedestrians.

Hand dynamometer segment to dominate the market

Hand dynamometer was a prominent segment of the market in 2017. The segment is projected to expand at a high CAGR. Rise in sports injuries and increase in number of fractures of hands and wrists are anticipated to propel the segment in the near future.

Orthopedic segment to lead market

The orthopedic segment is projected to dominate the global market, accounting for the largest share by 2026. The segment is anticipated to expand at a high CAGR between 2018 and 2026.

Asia-Pacific offers significant opportunities

Asia-Pacific accounted for significant share of the global medical dynamometer market in 2017. The region is likely to gain market share by 2026. High adoption of hand dynamometer and government initiatives to promote innovative devices contributed to Asia-Pacific’s high share of the global dynamometer market. Asia-Pacific is projected to be an attractive market for dynamometer market. The market in Asia-Pacific is likely expand at a high CAGR due to large number of trauma injuries. China accounted for the largest share of the market in the region in terms of revenue in 2017. The market in Latin America and Middle East & Africa is anticipated to expand at a moderate growth rate.

Rise in osteoporosis diseases among geriatric population

According to the International Conference on Spine and Spinal Disorders (2016), osteoporosis disease has become quite common among the geriatric population. Approximately 1.5 million people globally suffer from osteoporosis fracture every year and an estimated 700,000 experience spinal fracture. – Transparency Market Research