Healthcare Actuator Market expected to reach US$ 1,578.60 Mn by 2027 says, The insight Partners
Healthcare Actuator Market: Insight
According to our new research study on “Healthcare Actuator Market Forecast to 2027 – COVID-19 Impact and Analysis – by Actuation and Type,” the market is expected to reach US$ 1,578.60 million by 2027 from US$ 981.10 million in 2019; it is estimated to grow at a CAGR of 6.2% from 2020 to 2027. The report highlights trends prevailing in the global healthcare actuator market, and the factors governing the market growth.
The healthcare industry is designing and manufacturing a number of innovative machines that require actuators. Actuator controls motions by converting electrical, pneumatic or hydraulic energy into mechanical movement. These are used in medical devices such as wheelchairs, patient lifts, treatment chairs, and medical beds. The global healthcare actuator market growth is mainly attributed to factors such as increasing healthcare facilities and rising geriatric population. However, the high cost of medical devices is restricting the market growth.
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Healthcare Actuator Market: Competition Landscape & Key Developments
MISUMI Corporation; MC Corporation; Rockwell Automation, Inc.; Altra Industrial Motion; Richmat; TiMOTION Technology Co. Ltd.; LINAK; Venture MFG Co.; Movetec Solutions ApS; and Tolomatic, Inc. are among the leading companies operating in the healthcare actuator market.
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Actuator is responsible for the movement and control of machines/systems. Healthcare actuators are used in medical beds, patient lifts, wheelchairs, treatment couches, dental chairs, and medical carts, among others. Thus, the increasing number of healthcare facilities is likely to drive the healthcare actuator market.
The number of hospitals in the US is increasing. As per the American Hospital Association (AHA) Annual Survey of Hospitals, the total number of hospitals in 2014 was 5,627, and it increased to 6,146 in 2018.
Also, the number of hospitals in developing nations is rising. For instance, as per the Ministry of Health and Family Welfare, India, there were a total of 37,725 public healthcare facilities as of July 2018. Similarly, as per the China's National Health and Family Planning Commission, the number of private hospitals in China doubled to 16,900 hospitals during 2011–2017. Thus, the increasing number of hospitals is likely to drive the market during the forecast period.
Healthcare Actuator Market: Segmental Overview
The healthcare actuator market, by actuation, is segmented into electrical, pneumatic, and hydraulic. The electrical segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR during the forecast period. Electric actuators provide flexibility and enhance the patient’s movements with less manual intervention.
The healthcare actuator market, by type, is segmented into linear and rotary. The linear segment held a larger share of the market in 2019 and is anticipated to register a higher CAGR during the forecast period.
Healthcare Actuator Market – by Actuation
Healthcare Actuator Market – by Type
Healthcare Actuator Market – by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
- South and Central America
- Rest of South and Central America
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