Report : Healthcare Actuator Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Actuation (Electrical, Pneumatic, and Hydraulic) and Type (Linear and Rotary) and Geography
Electrical Segment of to Witness Rapid Growth During Forecast Period
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.
Based on actuation, the healthcare actuator market is segmented into electrical, pneumatic, and hydraulic. The electrical segment held the largest share of the market and is expected to grow at the highest CAGR during the forecast period. Electric actuators offer advantages such as highest precision-control positioning and easily networked and programmed. Also, these can be scalable for any purpose. Moreover, many market players operating in this industry are offering electrical actuators for healthcare applications. For instance, MECVEL SRL offers electric actuators from rehab machines to motorized chairs to control seats, backrests, and footrests linear motions.
The global healthcare actuator market growth is mainly attributed to increasing number of healthcare facilities and rising geriatric population. However, the high cost of medical devices may hinder the market growth.
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.
The report segments global healthcare actuator market as follows: