The global Orthopedic Power Tools Market was valued at USD 1,368.9 million in 2021 and is expected to reach USD 1,835.8 million by 2030, at a CAGR of 3.7%. Orthopedic is the branch of medicine which is categorised by both surgical and non-surgical equipment to cure musculoskeletal shocks, spine disorders, sports injuries, infections, tumours, and congenital disorders. The orthopedic power tools are the electrically automated devices used by the surgeons that comprises of powered instruments and accessories used to pierce, sculpt, fix, and vivisect bone, from sports injuries and extreme cases, to the most difficult in neurosurgery, spine and ENT. Key recent developments in technology increased the usage of orthopedic power tools. For instance, in March 2017, Stryker Corporation publicised a array of instruments under the brand name System 8 Power Tool such as System 8 SABO sagittal saw and System 8 cordless drivers which are used for orthopedic treatments which offers more accuracy.
Due to advancement of technology, rise in old aged population across the regions, increase in orthopedic procedures and immense innovation by competing business companies are the driving factors for the growth of orthopedic power tools global market. Due to the increasing rates of geriatric population which led to immense rise of orthopedic disease cases and immense funding from the Government, many research institutes have increased their work efficiency to cure disorders related to muscles, ligaments or injuries. Huge maintenance costs and limited awareness of power tools in emerging countries are main challenges for global Orthopedic Power Tools market. The biggest benefit of orthopedic power tools i.e. they permit surgeons to implement the surgical processes with proper speed, and greater accuracy. Even though these power tools provide in-built benefits; but surgeons are exposed to hazards acquainted to the persistent usage of vibrating tools, perils relating to aerosol/ droplet infection from patients, and prolonged exposure to loud noise. This is a major factor which hinders the growth of the market.
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Global players in the industry are partnering with companies and organization based in Asia, in order to expand their geographic presence in this highly lucrative market. This is expected to increase the availability of advanced equipment such as orthopedic power tools in the region. For instance, Stryker Corporation entered into a multi-year partnership with Indo-UK Institute of Health in November 2016, to deliver affordable orthopedic instruments in India.
Key Coverage of the Report:
- Region and country-wise assessment from the period 2022-2030. For the study, 2020-2021 has been utilized as historical data, 2018 as the base year, and 2022-2030, has been derived as forecasts.
- Regional Competitors clinical pipeline analysis
- Demand and Supply GAP Analysis
- Market share analysis of the key industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
Salient Trends of the Global Orthopedic Power Tools Market:
- Merger and acquisition is among the key strategies adopted by the leading players to strengthen their market positions. The Merger and Acquisition (M&A) deal between Medtronic Plc and Titan Spine in May, 2019 which will strengthen Medtronic’s status as leading innovator in solutions for spine surgery. Also, in March 2019, Stryker acquired OrthoSpace for USD 220 million for the advancement of InSpace product which aligns with Stryker’s interest for healing sports injuries.
- In March 2017, Stryker launched the Mako robotic system at USD 1 million in U.S. to perform total knee replacements.
- Single Use (Disposable) power tool is a major segment of this market fair accuracy and cost effective medium.
- Ambulatory Surgical Centres (ASC) end use segment is growing at a CAGR of 1.3%.
- Asia Pacific region has the highest prevalence rate for osteoporosis especially in the regions of China and India. Asia Pacific region is the fastest growing region in this market at a CAGR of 5.2% owing to availability of low-cost medical instruments, hospitals etc.
Companies considered and profiled in this market study:
The Orthopedic Power Tools Market study postulates constructive intuition globally which includes the companies who are the key players in Global Orthopedic Power Tools Market, such as Aesculap, Arthrex, Brasseler USA, B. Braun Melsungen AG, ConMed Corporation, Intuitive Surgical, Johnson & Johnson, Medtronic Plc, Misonix, Mazor Robotics, Osteomed LLC, OMNlife Science Inc. Peter Brasseler Holdings, LLC. Stryker Inc., Smith & Nephew Plc, Think Surgical, Verb Surgical, Zimmer Biomet Holdings, Inc.
Market-O-Nomics:
- Latin America will grow at a CAGR of 8% following due to poor awareness of the orthopedic power tools market
- Small Bone Orthopedic Power Tools segment type has the fastest expansion
- Pneumatic-Powered Systems segment is the fastest growing with a CAGR of 3.8%
- Hospitals end use segment accounted for the largest share of the market in 2018 with a CAGR of 4.0%
- Electric-Powered Systems segment has the sizeable market share of 53.5% in 2018.
- North America is dominating the market with a market share of 42.5% for orthopedic power tools due to a rise in orthopedic and spinal operations in the past few years
Segments covered in the report:
For the purpose of the study, this report segments the Global Orthopedic Power Tools Market on the basis of product type, technology type, modality, application, end user and the regional outlook at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2022 to 2030.
Orthopedic Power Tools Market Report Scope
Segments covered By Product Type, Technology Type, Modality, Application, End Use, Regional Outlook
By Product Type
Large Bone Orthopedic Power Tools
Small Bone Orthopedic Power Tools
High-Speed Orthopedic Power Tools
Orthopedic Reamers
Consumables
By Technology Type
Pneumatic-Powered Systems
Electric-Powered Systems
Battery Operated-Powered System
Corded Tools
By Modality
Single Use Power Tools
Reusable Power Tools
By Application
Orthopedic
ENT
Oral
Thoracic
Neurology
By End Use
Hospitals
Orthopedic Clinics
Ambulatory Surgical Centres
Others
Regional scope
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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