Medical Tuning Fork Market Size Worth $3.61 Billion, Globally, by 2030- Exclusive Report by The Insight Partners
The global medical tuning fork market is growing at a CAGR of 5.1% from 2022-2030.
Pune, India, Oct. 27, 2023 (GLOBE NEWSWIRE) — Medical tuning fork are instrument used in healthcare for various diagnostic and clinical purposes. They typically consist of metal folk-shaped device with two prongs that can vibrate when struck at a specific frequency. These vibrations produce sound waves that are used to access the various aspect of patient neurological and auditory functions. The benefit of medical tuning forks includes reducing swelling and Inflammation, promoting the healing of strained muscles, tendons and ligaments, assist in helps relieve bone and joint pain. The product also assists to build osteoblasts and osteoclasts, increasing bone density, alleviates blockages, and dispels stasis.
According to our new research study on “Medical Tuning Fork Market covers analysis By Product Type (Aluminum Alloy Material and Steel Material); Application (Neurological Examination, Auditory Function, Bone Conduction Testing and Others), End User (Clinics, Hospitals, and Physical Examination Centre), and Geography,” the medical tuning fork market size is expected to reach $3.61 billion by 2030 from $2.42 billion in 2020; it is estimated to register a CAGR of 5.1% from 2022-2030.
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Global Medical Tuning Fork Market: Competitive Landscape and Key Developments
AME Worldwide, American Diagnostic, J&J Instruments, Luxamed, MDF Instruments, KaWe, Nagashima Medical Instruments, Prestige Medical, Spirit Medical, and ZellaMed Instruments. Leading players adopt strategies such as launching new products, strategic collaboration, expanding and diversifying their market presence, and expanding new customer base to tap prevailing business opportunities.
Global Medical Tuning Fork Market: Product Type Overview
The medical tuning fork market, by type, is segmented into Aluminum Alloy Material, and Steel Material. The steel material segment held the largest share of the market in 2022, and the alloy segment is anticipated to register the highest CAGR of 5.2% in the market during the forecast period. The most common aluminum alloy used in medical settings include 6061, 6063 and 3003. These alloys provide corrosive resistance and biocompatible properties to the medical devices. Aluminium tuning forks or widely used in medical settings due to their excellent acoustic properties’ aluminium is a lightweight and rigid material which allow tuning forks to produce a clear and consistent tone these tuning forks are commonly used in neurological examination search as the Renee and Weber test to access the hearing and detect the hearing impairment. Whereas stainless steel tuning forks are another popular choice for medical application. Stainless steel offer durability and resistance to the corrosion, which is important for maintaining the cleanliness and hygienic of the medical equipment these evening folks are often used in diagnostic test to access the bone conduction and hearing. Both materials are effectively used in clinical practice for many years by healthcare professionals.
Global Medical Tuning Fork Market: End User Overview
Based on end user is segmented into clinics, hospitals, and physical examination center. The clinic segment holds the largest market share in the year 2022 and will grow same during the forecasted year. Moreover, hospitals segment is also expected to witness growth in its demand at a fastest CAGR during 2022 to 2030, owing to the rise in the detection and diagnosis of various medical conditions across the globe. Hospitals are primary contact points for the patients to get their diagnosis done and opt for treatment options and alternatives. Clinics offer broad range of professional services easily compared to the hospitals. The service in clinics are more cheap than hospitals and available in more convenient areas for patients. The site also offers better personal and professional attention than other healthcare settings.
Hospitals segment is estimated to hold considerable share as most of the patients in emerging nations and developed countries also prefer to visit hospitals for any health-related problem.
Further, the growing hospital industry in developing nations will likely propel the segment’s growth. For instance, as per the IBEF, the Indian hospital industry is expected to grow CAGR of 16–17% to reach US$ 132.84 billion by 2022 from US$ 61.79 billion in 2017. Additionally, as per the NITI Aayog, Government of India, by 2024, India would have 2,500 new hospitals. Moreover, increasing number of hospitals and growing accessibility in emerging nations are also estimated to offer lucrative opportunity for growth of the hospital segment during the forecast period.
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Global Medical Tuning Fork Market: Application Overview
By application, the medical tuning fork market is segmented into neurological examination, auditory function, bone conduction testing, and others. Auditory functions found as a major application of medical tuning forks market. The product is frequently used to access hearing in a clinical setting. They can help determine if a patient has hearing loss (conductive type or sensorineural type) and the severity of the impairment. Test such as Rinne and Weber test use tuning fork to access hearing. The product is also used to evaluate the neurological function of tuning fork vibrate to test the expect of sensory perception including the sense of touch and vibration the axis of neurological conditions such as peripheral neuropathy.
Asia Pacific is the fastest-growing region of the global medical tuning fork market. North America accounted for the largest global medical tuning fork market share in 2022. The US held the largest medical tuning fork market share in the region and is anticipated to register the highest CAGR during 2022–2030.
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