Human-powered Medical Equipment Market - Regional Analysis
North American Market Forecast
North America industry is predicted to account for largest revenue share of 40% by 2035, propelled by the growing burden of neurological disorders. Numerous neurological disorders, such as migraines, non-migraine headaches, multiple sclerosis, Alzheimer's disease, and other dementias, are among the main causes of disability in Canada and have a significant negative impact on public health which are usually caused by increasing aging population decline. This is expected to increase the demand for wearable healthcare devices in the region which use the body's energy to power medical equipment, that can be used to monitor and diagnose neurological diseases that are severe.
For instance, more than 98 million Americans are affected by neurological illnesses each year, and by 2030, the combined expenditures of dementia and stroke are expected to exceed USD 595 billion. Besides this, around one million individuals suffer from Parkinson's disease (PD), and by 2030, this figure is anticipated to increase to over 1 million.
APAC Market Statistics
The APAC Human-powered Medical Equipment market is estimated to be the second largest, during the forecast timeframe led by the growing government healthcare initiatives. India holds the fourth position in Asia's medical device industry, and recently the country is gaining momentum towards its goal of becoming a global center for medical device manufacture. For instance, the Production Linked Incentive Scheme (PLI) and the Promotion of Medical Device Parks Scheme offer a financial incentive to increase domestic manufacture of medical devices such as implants, and other devices.
