In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Dynamometer is a device that is used for the measurement of the torque and brake power which is required for the driving a machine. The medical dynamometer are available in the form of a pinch gauge which can be used for the measurement of the hand strength and also used for the therapy and treatment process. The devices can be used for the assessment of pathologies such as tendon injury of the hand, carpal tunnel syndrome, neuromuscular disorder, and nerve injury. The various types of dynamometer used are hand dynamometers, wrist dynamometers, pinch gauges and inclinometers. These devices are used for the test muscle strength of hand, grip strength, pinch strength and also measure range of motion.
The rising incidence of the chronic diseases coupled with the increasing demand for the better diagnostic devices is anticipated to boost the growth of the global medical dynamometer market during the forecast period.
The global medical dynamometer market can be segmented on the basis of product, application, end-user and region. On the basis of product it is sub-segmented into chest dynamometer, squeeze dynamometer, pinch gauge, spring hand dynamometer, push-pull dynamometer, hydraulic hand dynamometer and others. On the basis of application, it is sub-segmented into carpal tunnel syndrome, nerve injury and tendon injury. Tendon injury is anticipated to be the largest sub-segment in the application segment. The growing cases related to the tendon injury such as Achilles tendon rupture is anticipated to be the major reason fostering the growth of the sub-segment during the forecast period. On the basis of end-user, it is sub-segmented into hospitals, research & development, diagnostic laboratories and others. Hospitals sub-segment is anticipated to be leading sub-segment for the end-user segment during the forecast period. The availability of enhanced diagnostic devices coupled with high number of expert physicians is anticipated to be the key factor for the sub-segment to lead the end-user segment during the forecast period.
By region, global medical dynamometer market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global medical dynamometer market during the forecast period. The high occurrence of the accidents coupled with the early diagnosis of the diseases such as arthritis is anticipated to be another factor for the region to lead the global medical dynamometer market during the forecast period. Asia-Pacific region is anticipated to be the fastest developing region for the global medical dynamometer market. The increasing population in the region coupled with the growing number of the fatal accidents is anticipated to be the key factor for fostering the growth of the overall market in the region. For instance, according to the Ministry of Road Transport & Highways, Government of India the total number of fatal accidents in 2015 is 1, 31,726 whereas it grew to 1,36,071 in 2016. Additionally, increasing per capita income of the population coupled with the rising spending towards healthcare is driving the growth of the medical dynamometer market in the region. CLICK TO DOWNLOAD SAMPLE REPORT
Our in-depth analysis segmented the global medical dynamometer market in the following segments:
Global medical dynamometer market is further classified on the basis of region as follows:
The increasing prevalence of the orthopedic surgeries coupled with the rising research and development in the diagnostic devices is anticipated to be the key factor for the global medical dynamometer market during the forecast period. The increasing prevalence of the road accidents is also anticipated to boost the growth of the global medical dynamometer market. The increasing growth in the supply chain industries is anticipated to be a growth driver for the global medical dynamometer market. The expansion of the healthcare infrastructure in the developing countries such as India and China is anticipated to boost the growth of the global medical dynamometer market.
However, high cost associated with the medical dynamometer is anticipated to restrain the growth of the global medical dynamometer market.