Motors for Medical Equipment Market Size, Share, Growth, and Industry Analysis, By Type (DC Motor and AC Motor) and By Application (Diagnostic and Monitoring Devices, Therapeutic Devices and Surgical Devices) and Regional Insight and Forecast to 2032

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MOTORS FOR MEDICAL EQUIPMENT MARKET REPORT OVERVIEW

The global Motors for Medical Equipment Market size was USD 1.2 billion in 2022 and the market is projected to touch USD 2 billion by 2032, exhibiting a CAGR of 5.7% during the forecast period.

Machines, instruments, and portable equipment are powered by motors utilized in medical equipment. They are made to have a high power density, be dependable, quiet, and efficient. Applications like a robotic surgical arm and joysticks for precisely manipulating delicate tools or instruments are examples of how these geared motors help medical professionals work with more accuracy and control. The motor is frequently found in biomedical devices, such as mechanical heart pumps. These motors are characterized by a long service life, fast speeds, and no cogging. They may include hall sensors and gearheads.

Many of the new product launches are increasing and a greater importance is on creating superior medical devices are factors driving market expansion. As the increased risk of cardiovascular disorders (CVDs) among the elderly population has increased, the market is anticipated to rise as a result of increased demand for cardiac procedures and tools that support routine cardiac status monitoring. The need for sophisticated and efficient treatment services bounding a range of surgical and diagnostic techniques is further driven by the rising burden of chronic diseases. Medical equipment are therefore becoming more and more in demand globally. The Motors for Medical Equipment Market has grown as a result of this aspect.

COVID-19 IMPACT

"Market Growth Obstructed by Pandemic due to Lockdown"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The Covid-19 epidemic affected the market for medical equipment motors in a variety of ways. Although the first outbreak caused disruptions to manufacturing and supply chains, the sector was positively benefited by the subsequent rise in automation and demand for medical equipment. When several nations went into lockdown, the supply of medical devices or the raw materials or components needed for their manufacture was disrupted. Strict rules and the shutdown caused a disruption in the supply chain.

LATEST TRENDS

"High Sales to Drive Market Growth"

The growing incidence of cardiovascular illnesses, strategic initiatives by major industry players, and technical advancements in cardiology equipment are all projected to contribute to the segment's significant rise in the medical devices market throughout the forecast period. The need for cardiological medical devices is being driven by the increased occurrences and prevalence of obesity, diabetes, hypertension, and high cholesterol, since these individuals have an increased risk of experiencing cardiac issues at some point throughout their lives. Heart disease diagnosis and related health issues are treated with cardiovascular devices.

MOTORS FOR MEDICAL EQUIPMENT MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into DC Motor and AC Motor amongst which the leading segment is the Prostacyclin and Prostacyclin Analogs.

• DC Motor : CT (Computed Tomography) and MRI (Magnetic Resonance Imaging) scanners are two examples of medical imaging devices that employ DC motors. Ensuring precise positioning and picture acquisition, these motors enable the movement of the scanner's components.

• AC Motor: Biomedical devices such as artificial heart pumps frequently use AC motors. The following benefits account for this: Since these motors can operate constantly at their maximal rotational force (torque), efficiency is a major benefit.

By Application

Based on application the global market can be categorized into Diagnostic and Monitoring Devices, Therapeutic Devices and Surgical Devices amongst which the leading segment is the Hospital.

• Diagnostic and Monitoring Devices: One type of medical equipment called diagnostic equipment is used to identify medical issues.

• Therapeutic Devices: A range of treatments for pain, injuries, and other ailments are provided by therapeutic devices.

• Surgical Devices: A surgical medical device is a tool used to help perform intricate procedures in surgical settings.

Driving Factors

"Technological Advancements to Boost the Market"

The market for motors for medical equipment is growing as a result of technological advancements. Technological developments and improve product capabilities. By providing superior solutions that satisfy some needs, emerging technologies like automation and smart systems are developing the motors for medical equipment market. These developments create new opportunities for market growth in addition to increasing the range of products available. Businesses can obtain a competitive angle by investing in R&D to create enhanced technology, which will promote adoption and increase market expansion.

"Customer Demand Expand the Market"

One major factor fueling the market's expansion for motors used in medical equipment is customer demand. Motors for Medical Equipment items that provide more features, better performance, and greater value are becoming more and more necessary as consumer preferences change. Manufacturers are being compelled to innovate in order to meet the growing demand for high-quality, customized products. Further driving market expansion are increased consumption rates brought about by rising disposable incomes and improved living conditions in emerging markets.

Restraining Factor

"High Cost to Impede Market Growth"

Consumer spending declines and economic downturns are obstacles to market expansion, which affects the demand for Motors for Medical Device items. Due to increased rivalry and market saturation, the market has barriers that call for creative solutions in order to sustain growth. Market participants face obstacles due to strict regulatory frameworks, which require compliance activities that could limit their operating flexibility. The arrival of substitute items on the market presents a constraint, deflecting consumer focus and affecting the demand for Motors for Medical Device products.

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Motors for Medical Equipment Regional Insights

"North America Dominating the Market due to Augmented Demand of Leather Goods"

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

has a dominant market share in the motors for medical equipment market because of its sophisticated technological infrastructure, strong adoption rates, and large R&D investments. The United States and Canada are significant contributors, fueled by strong demand in a number of industries and advantageous regulatory frameworks. Due to the rising prevalence of chronic diseases, high healthcare costs, and the presence of prominent players, North America is anticipated to contribute significantly to the medical devices market throughout the forecast period.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Motors for Medical Equipment Companies

• Moog (U.S.)
• Faulhaber (Germany)
• Maxon (Germany)
• Portescap (India)
• Nidec (Japan)

INDUSTRIAL DEVELOPMENT

July 2022: To improve cardiac care and improve patient outcomes, Stryker Corporation introduced the revolutionary and innovative LIFEPAK CR2 automated external defibrillator (AED). Modern technology allows AEDs and rescuers to be ready to administer quick, life-saving care. Examples of this technology include cprINSIGHT analytical technology, Wi-Fi connectivity, and continuous self-monitoring. Maintaining CPR enhances blood flow and raises survival rates. In order to minimize the time between CPR and defibrillation, the only AED on the market right now that permits chest compressions while electrocardiogram (ECG) rhythm analysis is the LIFEPAK CR2.

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.