The global reflex hammer market is expected to witness strong growth during the forecast period between 2021 and 2031.
Reflex hammers refer to medical devices deployed by healthcare personnel to examine the condition of the tendon reflexes. Reflex hammers are designed for reflex percussion and testing and are deployed extensively in musculoskeletal systems for diagnosis purposes.
Some of the commonly-used reflex hammers include Buck Style, Tromner, Taylor Design, Babinky, and Pediatric Hammers.
The outbreak of the COVID-19 pandemic negatively impacted the growth in the global reflex hammer market. In a bid to abide by the social distancing regulations imposed by governments, several surgical and diagnostic procedures were postponed at various hospitals and clinics.
Many of these procedures require reflex hammers for examining the tendon reflexes and with these procedures halted temporarily, the product demand witnessed a significant decline, leading to lowered market growth too.
However, with vaccine availability and approval for booster doses, it is anticipated that surgical procedures will resume in healthcare facilities soon and lead to higher demand for reflex hammers, too.
Rising product demand for oral examination of patients worldwide is the key growth driver for the reflex hammer market.
A key reason behind the high product demand for oral examinations is owing to their low costs and increased customer awareness of these products.
Also, increasing penetration of reflex hammers in the healthcare industry is expected to fuel the growth in the overall reflex hammer market, in the coming years.
In addition to this, rising budgets in the healthcare industry in both developed and developing economies is anticipated to propel the global reflex hammer market, in the years ahead.
Development of advanced reflex hammers could help increase the product demand and contribute to market growth, in future.
Hospital end-use segment is expected to make the largest contribution to the overall reflex hammer market owing to increased product demand to treat patients in these facilities.
The global reflex hammer market comprises several prominent players and is extremely competitive. Many of these players have become successful owing to years of delivering consistent results and are expected to account for a large share in the overall market, in the coming years.
Research and development undertakings to produce improved quality of products could be a key growth strategy for well-established reflex hammer market players, in future.
Prominent reflex hammer market players could engage in growth strategies such as novel product launches in a bid to gain a competitive edge over other players.
Well-established market players could collaborate with smaller players in a bid to expand their market presence and increase their revenue shares.
The smaller reflex hammer market players will seek funding from private investors, which could prove beneficial in their long-term growth.
Some of the key players in the global reflex hammer market include J&J Instruments, AUG Medical LLC, Braun Melsungen AG, Sync Vision Technology, and US Neurologicals LLC.
The global reflex hammer market is classified into four regions, namely, North America, Asia Pacific, Europe, and rest of the world.
North America is expected to be the dominant region in the reflex hammer market because of the presence of developed healthcare infrastructure facilities and increasing prevalence of different neurological diseases in countries such as US and Canada.
Asia Pacific is expected to offer lucrative growth opportunities for the global reflex hammer market in future because of the rapidly developing healthcare industry is developing countries such as India, contributing hugely to market growth in the region.
Europe is anticipated to witness strong growth in the overall reflex hammer market, in the coming years.
The rest of the world is expected to witness moderate growth in the global reflex hammer market, in the years ahead.