Medical Tuning Fork Market Forecast Report | Global Outlook 2030

[Research Report] The market medical tuning fork is expected to reach US$ 3,611.2 million by 2031 from US$ 2,421 million in 2021. The market is estimated to grow with a CAGR of 5.1% from 2022-2031.

Market Insights and Analyst View:

Medical tuning fork is a specialized instrument used in healthcare for various diagnostic and clinical purposes. They typically consist of a 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 common use of medical tuning forks includes the hearing assessment, neurological examination, balance and vestibular functioning testing, bone conduction testing, tinnitus evaluation, assessment of joint vibrations and assessment of deep tendon reflexes. Medical tuning forks are available in various frequencies and sizes and each frequency serves specific diagnostic purposes. The result obtained from the tuning fork test provides valuable information to the healthcare professional, which help them to diagnose the medical conditions and make informed decisions about the patient care and treatment.

The medical tuning fork vibration relaxes adrenals, relieves stress, and helps equilibrate the whole body. The product promotes the healing of strained muscles, tendons, and ligaments. At 34 Hz, frequency range is shown to help reduce swelling and inflammation (25-150 Hz). Research shows that low sound frequency is effective in dismissing pain and lowering inflammation and can help strengthen bone density.

Strategic Insights

Growth Drivers, Challenges and Opportunities:

Rising Neurological Disorder

The geriatric population is susceptible to neurological diseases. Neuropathy, Parkinson's disease, Alzheimer's disease, and dystonia are among the most common neurological disorders affecting older people. According to the National Institutes of Health (NIH), 8.5% of the world's population (i.e., around 617 million people) are 65 and above. Countries such as the US and Canada have high prevalence rates of movement disorders and psychiatric disorders associated with growing geriatric populations. According to the Parkinson's Foundation, Parkinson's symptoms are common at an average age of 60. The Canadian Psychological Association states that about 2% of the population experiences from obsessive-compulsive disorder (OCD).

According to the World Health Organization (WHO), neurological diseases cause 6.3% of the global disease burden and are one of the leading causes of death worldwide. In addition, 13.2% of deaths in developed countries and 16.8% in low- and middle-income countries are reported due to neurological diseases. High mortality and disease burden necessitate the clinical urgency for integrating long-term solutions such as deep brain stimulators (DBS). Therefore, growing awareness regarding the burden of neurological disorders, the growing elderly population, and the increasing prevalence of neurological diseases propel the demand for medical tuning fork market.

Availability of Alternatives

The increasing availability of alternatives is a major limiting factor altering the market's growth. Furthermore, this also hinders the industry's expansion and further hamper the growth of the medical tuning fork market within the forecasted year. For instance: Smartphone-based vibration applications represent a practical, more friendly alternative to tuning forks when evaluating for conductive hearing loss.  Recently, COVID-19 pandemic leads to the disruption of supply chain shortage of healthcare worker in medical device industry.  This also affect the daily operation of healthcare facilities. Government of the respective countries provide strict guidelines to healthcare professionals on treatments. These mentioned factors affect the growth of the market.

Increasing Geriatric population

The Increasing geriatric population worldwide is considered one of the big opportunities for the medical tuning fork market. According to the WHO, all countries worldwide face major challenges of the demographic shift. In 2050, more than 80% of the older population will be living in low to middle income countries. The older population over 60 nearly expanded from 12% to 22% between 2015 and 2022. A significant number of older populations are suffering from various health-related disorder. Hearing loss, neurological disorders and joint-related issues are the major age-related problems.

According to the United Nations’s World Population Prospects 2022 report, the aging population is projected to grow by 16% in 2050 from 10% in 2022. The rapidly growing aging population indicates that there will be exponential demand for care and medicines. Older people live with one or two chronic medical neurological conditions, such as arthritis, diabetes, Alzheimer’s, or Parkinson’s, that require regular neurological examination.

Thus, the aging population is a key factor providing never-ending market growth opportunities and will increase demand for medical tuning fork market.

Report Segmentation:

The “Global Medical Tuning Fork Market” is segmented based on product type, application, end user and geography. The medical tuning fork market is segmented based on product type into Aluminum Alloy Material and Steel Material. Based on application, the medical tuning fork market is segmented into neurological examination, auditory function, bone conduction testing and others. Based on End Use, the medical tuning fork market is segmented into clinics, hospitals, and physical examination centre.

The medical tuning fork market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

Segmental Analysis:

Product Type Insights

By type, the medical tuning fork market is segmented into Aluminium Alloy Material, and Steel Material. The steel material segment held the largest share of the market in 2022, and the alloy segment is projected to register the highest CAGR of 5.2% in the market during the forecast period. The most common aluminium alloy used in medical settings include 6061, 6063 and 3003. These alloys provide corrosive resistance and biocompatible properties to the medical devices. Aluminum tuning forks or widely used in medical settings due to their excellent acoustic properties’ aluminium is a lightweight and rigid material that 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 corrosion, which is important for maintaining the cleanliness and hygiene of medical equipment. These evening folks are often used in diagnostic test to assess bone conduction and hearing. Both materials are effectively used in clinical practice for many years by healthcare professionals.

Application Insights

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.

Diabetes is one of the most common disorders across the world. Diabetic neuropathy affecting more than 50% of the patients who have Diabetes. 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 & diabetic neuropathy. The increasing prevalence of diabetes in developing countries like India, China, Indonesia is considered one of the major factors promoting the market's growth.

According to a Research Gate study in 2022, osteoporosis is prevalent in 6–33% of Brazilians. Medical professionals are concerned about the surge in osteoporosis-related bone distortion cases.

End User Insights

Based on end user is segmented into clinics, hospitals, and physical examination centre. The clinic segment holds the largest market share in 2022 and will grow same during the forecasted year. Moreover, hospitals segment is also projected to witness growth in it insist at a fastest CAGR during 2022 to 2031, owing to the rise in the detection and diagnosis of various health 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 hospitals. The service in clinics is cheaper than hospitals and available in more convenient areas for patients. The site also offers better personal and professional attention compared to the other healthcare settings. 

Hospitals segment is estimated to hold considerable share as most of the affected role in emerging nations and developed countries prefer to visit clinics for any health-related problem. Further, growing hospital industry in developing nations is likely to boost the growth of the segment. 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.

Regional Analysis: 

Based on geography, the medical tuning fork market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). North America accounted for the largest medical tuning fork market share during the forecast period followed by Europe region. United States holds more than 80% of the shares in North America. In Europe, the countries like Germany, UK, France holds the majority of the market share in the region. Advanced healthcare infrastructure, Aging population, high per capita healthcare expenditure is the major factor promoting the market's growth. During the forecast period, Asia Pacific is expected to register the fastest CAGR in the medical tuning fork market. China, Japan, and India are the prime APAC market contributors. APAC region holds more than 60% of the total world population. The rising per capita healthcare spending followed by rising awareness is one of the major driving factors promoting the growth of the medical tunning market. In addition, the APAC market is also driven by growing investments from international players, burgeoning government support, and advancing healthcare infrastructure.

Competitive Landscape and Key Companies:

AME Worldwide, American Diagnostic, J&J Instruments, Luxamed, MDF Instruments, KaWe, Nagashima Medical Instruments, Prestige Medical, Spirit Medical, ZellaMed Instruments, are among the major medical tuning fork companies in the global market. These companies have been implementing various strategies that have helped their growth and, in turn, have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansions, and product approvals and inorganic strategies such as product launches, partnerships, and collaborations.

REGIONAL FRAMEWORK

Medical Tuning Fork Market Report Analysis

MARKET PLAYERS

Medical Tuning Fork Market Report Scope