Research Nester published a report titled “Human-Powered Medical Equipment Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global human-powered medical equipment market in terms of market segmentation by type, device type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global human-powered medical equipment market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of type into thermoelectric, motion-based, and others. Out of these, the thermoelectric segment is estimated to witness notable growth over the forecast period on the back of the high potential of human body to produce heat, which is used to generate electricity. The difference of temperature between body and environment creates a difference in voltage which generates electricity.
The global human-powered medical equipment market is estimated to grow on the back of
On the basis of geographical analysis, the global human-powered medical equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness modest growth over the forecast period owing to the improving adoption of medical devices in the developing countries, such as, India, and Japan. For instance, the medical devices industry in the Asia Pacific region valued at around USD 87 billion in 2020. Moreover, increasing adoption of advanced medical equipment is estimated to boost the market growth.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Investment in Medical R&D Activities to Boost the Market Growth
According to the World Bank data, 2.204% of the global GDP was spent for R&D activities in 2018.
The increasing investment in research activities for the development of innovative technologies is estimated to boost the market growth. Furthermore, rising government investment in the field of medical research, is projected to further propel the market growth.
However, lack of awareness and high initial cost of human-powered equipment are expected to operate as key restraint to the growth of global human-powered medical equipment market over the forecast period.
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Researchers and scientists from University of California Los Angeles (UCLA) and Michigan State University are developing these equipment, which are estimated to be available for commercial use by 2030. Moreover, various other medical device manufacturers, such as, Cordant Health Solutions, Legacy Medical Services, LLC, Omega Laboratories, Inc., and Thermo Fisher Scientific, Inc., among others, are estimated to invest in the market. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global human-powered medical equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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