The healthcare actuator 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 growth of the healthcare actuator market is mainly attributed to increasing number of healthcare facilities and rising geriatric population. However, the high cost of medical devices is restricting the market growth.
Actuators are used in medical equipment, including medical beds and wheelchairs.These equipment are mostly used by the elderly.
For instance, the medical bed is one of the most important requirement for old patients, as it provides maximum comfort, better positioning, safety, and easy access to caregivers.For instance, osteoporosis is a major health issue in an aging population that later leads to various bone-related chronic complications.
The number of aging people with bone disorders is increasing due to increased lifespan, lifestyle diseases, and calcium deficiency worldwide. The medical bed provides easy access to regular medical tests and more flexibility while giving them greater control over their life. According to the United Nations report, there were more than 962 million people aged 60 or over, i.e., 13% of the world population in 2017 globally,. The UN estimated that population aged 60 or more is growing at a rate of around 3% every year. It also mentioned that globally the number of people aged 80 or more is anticipated to triple by 2050.
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 in the market during the forecast period.
Based on type, the healthcare actuator market is segmented into 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.
The World Health Organization, National Health Service, Centers for Disease Control and Prevention, Centers for Medicare & Medicaid Services, and International Medical Travel Journal, along with company websites, are the major primary and secondary sources referred while preparing this report.
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