Global Orthopedic Power Tools Market to Grow at 4.1% CAGR During Forecast Period Due to Rising Technological Advancements and Increasing Usage in Orthopedic Surgeries.
The global Orthopedic Power Tools Market was valued at USD 1.54 billion in 2021, and is predicted to grow at a rapid revenue CAGR of 4.1% during the forecast period. Market growth is being driven by several factors, including rising technological advancements in orthopedic power tools, increasing numbers of spinal injuries and product launches, regulatory approvals for orthopedic power tools, and orthopedic procedures due to the aging population. The use of power instruments has transformed modern operative orthopedics, and has become an essential part of the orthopedic surgery process. Orthopedic power tools are user-friendly, lightweight, and easy to handle compared to traditional, heavy orthopedic tools. They are classified into three categories: electric-powered orthopedic tools, battery-operated power systems, and pneumatic power tools, allowing surgeons to work more efficiently and precisely.
The rising use of orthopedic power tools for various medical procedures, such as drilling, reaming, sawing, and screwing, is expected to drive revenue growth in the market. Orthopedic power tools are essential for orthopedic surgery, neurology, Ear, Nose, Throat (ENT) surgery, traumatology, and other medical fields. The use of these tools enables surgeries to be more efficient and successful. They are necessary for practically every element of orthopedic surgery, including pulse lavage, drilling, and reaming, particularly when treating lengthy bone fractures with screws and intramedullary nails.
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Some of the prominent players in the market include Abbott Laboratories, Arthrex, Inc., Brasseler USA, B. Braun SE, CONMED Corporation, OMNI Orthopaedics, Stryker, Smith+Nephew, THINK Surgical Inc., and Zimmer Biomet. These players have been actively engaged in research and development activities to introduce innovative products in the market. For instance, Stryker has launched various power tools, including the System 8, System 7, and the Formula series. Similarly, Zimmer Biomet offers a range of orthopedic power tools, such as the EBI Bone Healing System and the OrthoPak Non-Invasive Bone Growth Stimulator.
The increased incidence of osteoporosis contributes significantly to the demand for orthopaedic procedures and, eventually, power tools. Osteoporosis is a serious problem everywhere due to the expanding elderly population, particularly in developing countries. The need for orthopaedic surgery power tools is also being fueled by an increase in the frequency of delicate fractures of the wrist, hip, and spine. One of the primary factors affecting the market expansion is the technological and operational advancements in tool designs through time. Regulations pertaining to the standardisation of operating room supplies are being promoted by numerous governments and corporate entities more frequently.
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Here are some key highlights from the report:
- The orthopaedic power tool market is divided into four categories based on type: large bone, tiny bone, high-speed power tools, and orthopaedic reamers. The market's highest share belongs to the large bone power tool category. Due to factors including the increase in accidents, sports injuries, and orthopaedic, this market is expected to maintain its dominance during the forecast period.
- Pneumatic-powered systems, electric-powered systems, and battery-powered systems are the three technology-based market segments. The two main categories of power tools in this industry are conventional and disposable. In recent years, people have started favouring single-use or disposable instruments over traditional or reusable ones.
- Due to rising healthcare costs in the United States, North America has the greatest share of the market under study. The presence of highly qualified orthopaedic physicians in the nation is also contributing to the expansion of the American market. The region's demand for orthopaedic surgical power tools is being driven by the rising demand for orthopaedic operations. Long-term market growth is also influenced by additional factors, such as technology developments connected to orthopaedic procedures in the US.
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For the purpose of this report, Reports and Data has segmented the global orthopedic power tools industry into Type Outlook, Technology Outlook, Regional Outlook:
Type Outlook
· Large Bone
- Small Bone
- High-Speed
- Single Use (Disposable)
- Orthopedic Reamers
- Consumables
Technology Outlook
- Pneumatic
- Battery Operated
- Electric
Regional Outlook
· North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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