The global Orthopedic Power Tools Market has set a valuation of US$ 2.1 Bn in 2021, and further, is expected to expand at a CAGR of 4.8% to reach US$ 3.5 Bn by the year 2032.
The orthopedic power tools are majorly used for the treatment of disorders from the time of birth like those associated with musculoskeletal systems which include bones, ligaments, cartilage, connective tissues, and tendon and aid in ignoring injuries caused by physical harm, thereby providing an orthopedic support system. Orthopedic tools and devices are the devices that are operated electrically which help in executing surgical procedures in less amount of time with high accuracy to perform activities like fixing implants and puncturing in surgeries.
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Major Drivers Boosting the Demand for Orthopedic Power Tools Market
The market for orthopedic power tools is driven by the upsurge in the aging population, technological advancement, operating room supply standardization, growing orthopedic procedures volume, and growing competition that forces companies to innovate.
The growing incidence of injuries related to sports worldwide and technical advancements in orthopedic surgery has fuelled demand for orthopedic power tools. The sales of orthopedic power tools can improve by not just the disinfecting problems associated with the power tools, but also the cost of servicing and maintenance, which results in budding orthopedic power tools market growth.
Region Shows Strong Growth Potential in the Orthopedic Power Tools Market
Among the major regions, North America is expected to hold the largest market share owing to the well-established healthcare infrastructure and a robust distribution network along with the strong presence of major companies. Furthermore, the growing incidence of amputations and accidents in the region is expected to propel the market growth of orthopedic power tools.
Europe is the second largest market for orthopedic power tools. The escalating demand for orthopedic procedures and the increasing old age population in the European nations are positively impacting the market for orthopedic power tools.
Apart from this, Asia and Oceania together are contributing a moderate market growth. This growth is attributed due to the expansion of manufacturing capabilities and large consumer base.
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Key Players in the Orthopedic Power Tools Market
Some of the market players operating in the orthopedic power tools market are Misonix, DePuy Synthes, Medtronic Plc, ConMed Corporation, B. Braun Melsungen AG, Zimmer Biomet, Johnson & Johnson, Stryker Corporation, De Soutter Medical, AlloTech Co. Ltd., and others.
Key Players:
- Misonix
- DePuy Synthes
- Medtronic Plc
- ConMed Corporation
- B. Braun Melsungen AG
- Zimmer Biomet
- Johnson & Johnson
- Stryker Corporation
- De Soutter Medical
- AlloTech Co. Ltd.
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Key Segments Covered in the Orthopedic Power Tools Industry Survey
By Product:
- Small Bone Orthopedic Power Tools
- Large Bone Orthopedic Power Tools
- High-Speed Orthopedic Power Tools
By Modality:
- Single Use Orthopedic Power Tools
- Reusable Power Orthopedic Tools
By Technology:
- Pneumatic-powered Systems
- Electric-powered Systems
- Battery-powered Systems
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Clinics
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