The global orthopedic power tools market accounted for ~1% of the global surgical instruments market in 2021.
“Global sales of orthopedic power tools are estimated to reach approximately US$ 2,500 Million in revenues by 2026-end”
“The rising amputations surgeries performed every day is aiding the enhanced need for orthopedic surgeons and in turn orthopedic power tools market,” says a Fact.MR analyst
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The global orthopedic power tools market accounted for ~1% of the global surgical instruments market in 2021. The global orthopedic power tools market is estimated to have an absolute $ opportunity of USD 1.3 Billion during the forecast years of 2022-2032.
Recent increase in the global geriatric population has led toward a rise in incidences of orthopedic diseases, which require surgical intervention, thereby fuelling demand for orthopedic power tools. The advent of modern electronic technologies including power-assisted, robotic, and minimally invasive orthopedic surgery equipment have further escalated adoption of orthopedic power tools. Prominent manufacturers have therefore been actively engaging in aspects of orthopedic power tools’ safety and ergonomics, in a bid to develop a range of power-assisted equipment tailored to the precision of the procedure’s nature, while addressing efficacy and safety of surgeons.
Leading companies in the market are frequently launching innovative and advanced technology-based orthopedic power tools, which has created entrance barriers for new market players. An extremely competitive scenario is being observed in the market, compelling well-established players to enhance their efforts for retaining their position.
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6 Key Takeaways from Fact.MR’s Report on Orthopedic Power Tools Market for Forecast Period 2017-2026
- North America is anticipated to remain the largest market for orthopedic power tools, in terms of revenues. Factors such as large-scale presence of surgical centers and hospitals, along with rapid technological advancements are expected to retain North America’s dominance in the market. The market in Europe will also account for a major portion of the market’s revenue share during 2017 to 2026.
- Asia-Pacific excluding Japan (APEJ) will witness a robust expansion in the market through 2026. This growth can be primarily attributed to increased prevalence of osteoporosis in APEJ countries such as China and India, along with rising prevalence of medical tourism in the region owing to availability of low-cost modern medical equipment, advanced hospitals, and skilled surgeons.
- Based on modality, revenues from reusable orthopedic power tools’ worldwide sales will account for nearly three-fourth share of the market by 2026-end. However, reusable or disposable tools are expensive, require high maintenance costs, and are associated with risks regarding infection from patient. This has led surgeons toward adoption of single-use orthopedic power tools, which are convenient and cost-effective. Reusable orthopedic power tools will register the fastest expansion in the market through 2026.
- Accounting for the largest market revenue share during 2017 to 2026, hospitals will remain the largest end-users of orthopedic power tools market. However, orthopedic clinics are projected to register the highest CAGR in the market through 2026. Revenues from ambulatory surgical centers will increase at a CAGR lower than those from orthopedic clinics, and higher than those from hospitals through 2026.
- Although small bone power tools will account for the lowest revenue share of the market, their sales will reflect a relatively faster expansion than sales of large-bone power tools through 2026. In addition, sales of high-speed power tools will ride on the highest CAGR in the market, to become the second most lucrative product by 2026-end.
- Key market participants profiled by Fact.MR’s report include Stryker Corporation, Johnson & Johnson, Zimmer Biomet, B Braun, CONMED Corporation, and Misonix.
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Competitive Landscape: Top Companies in Orthopedic Power Tools Market
The global orthopedic power tools market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced orthopedic power tools.
For instance:
- Medtronic Pvt. Ltd. in 2020 launched Sonicision curved jaw cordless ultrasonic dissection system, which is able to provide convenience and greater precision during orthopedic surgeries.
- Zimmer Biomet Holdings Ltd. acquired A&E Medical Corporation in 2020. This acquisition will provide a complete product portfolio of sternal closure devices, which includes cable systems, sternal sutures, and rigid fixation coupled with other surgical products.
Global Orthopedic Power Tools Market by Category
- By Product Type, Global Orthopedic Power Tools Market is segmented as:
- Small Bone Orthopedic Power Tools
- Large Bone Orthopedic Power Tools
- High Speed Orthopedic Power Tools
- By Modality, Global Orthopedic Power Tools Market is segmented as:
- Single Use Orthopedic Power Tools
- Reusable Power Orthopedic Tools
- By Technology, Global Orthopedic Power Tools Market is segmented as:
- Pneumatic-powered Systems
- Electric-powered Systems
- Battery-powered Systems
- By End-User, Global Orthopedic Power Tools Market is segmented as:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
- By Region, Global Orthopedic Power Tools Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the orthopedic power tools market, presenting historical demand data (2017-2019) and forecast statistics for the period of 2023-2032.
The study divulges essential insights on the orthopedic power tools market on the basis of nature of waste (non-hazardous waste, hazardous waste), waste type (sharps, infectious & pathological waste, radioactive waste, pharmaceutical waste, non-infectious waste), waste generator type (large quantity waste generators, mid & small quantity waste generators), and service (on-site services, off-site services), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you transformation in the healthcare sector. Our expertise in recognizing the challenges and trends understand how the latest influencers account for operational and strategic impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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