Orthopedic Power Tools Market | Contrive Datum Insights

The Global Orthopedic Power Tools Market Was Valued At USD 1.54 Billion In 2022 And Is Projected To Reach USD 2.05 Billion By 2030, At A CAGR Of 4.1% From 2023 To 2030.

Orthopedic Power Tools Market Overview:

Orthopedic power tools are devices used in arthroplasty (total knee replacement surgery, total hip replacement surgery, etc.) and traumatology to shape bone. This instrument is used to perform and perform surgery on bones and bone fragments. It facilitates reaming, sawing, drilling and screwdriving. It is primarily used in human and veterinary orthopedic surgery, neurology, traumatology and ENT surgery. Orthopedic power tools have seen a rapid increase in use in recent times Orthopedic power tools are devices used in arthroplasty (total knee replacement surgery, total hip replacement surgery, etc.) and traumatology to shape bones. This instrument is used to perform and perform surgery on bones and bone fragments. It facilitates reaming, sawing, drilling and screwdriving. It is primarily used in human and veterinary orthopedic surgery, neurology, traumatology and ENT surgery. The use of orthopedic power tools has increased rapidly in recent years. In the United States, approximately 750,000 knee arthroscopic procedures are performed each year at an annual cost of approximately $3 billion. The average age of patients who underwent arthroscopic knee surgery was 54.8 years, and approximately 49.2 percent of women underwent the procedure.

The introduction of powered instruments revolutionized orthopedic surgery. These devices enable surgeons to work more efficiently and correctly. Power tools are now used in all parts of orthopedic surgery, from wound management with pulse irrigation via drilling, to reaming of long bone fractures with screws and intramedullary nails. These devices were further improved to become lighter and easier to handle. Metal alloys that are lighter and generate less heat when used repeatedly are becoming more popular. Pneumatic corded power tools are now being replaced by battery powered and more ergonomic devices. Modern power tools are more consistent in performance, faster to manufacture, and easier to use for both surgeons and staff.

Orthopedic Power Tools market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Orthopedic Power Tools market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In November 2020 - Stryker announced the acquisition of Wright Medical Group N.V. to expand the product portfolio of its trauma and extremities businesses.
• In May 2021 - Arbutus Medical launches the SteriTrak Surgical Drill in the US and Canadian markets, designed to perform effective bony distraction procedures, especially in trauma centers.

Major Market Segments Covered in Orthopedic Power Tools Industry Research:

Market Key Players:
DePuy Synthes, Arthrex, Johnson & Johnson, Stryker, B. Braun, Medtronic, Smith & Nephew, Zimmer Biomet, ConMed, OsteoMed, Brasseler USA, MicroAire, De Soutter Medical, Adeor, And Others.

By Type

• Instruments
  • Surgical Drills
  • Saws
  • Others
• Accessories

By Technology

• Electric Powered Device
• Pneumatic Powered Device
• Battery Powered Device

By Applications:

• Reusable
• Disposable

By End-user

• Hospitals & ASCs
• Specialty Clinics

By Region:

North America holds the largest share of the market studied owing to rising healthcare expenditure in the United States. Factors such as direct presence of major regional players, strong distribution network, and well-established healthcare infrastructure are also some of the major factors driving the growth of the market. In addition, rising number of accidents and amputations in the country is also expected to drive the North American orthopedic power tools market. According to the Access Prosthetics Blog, there were 2.1 million people with limb loss in the country in 2017, and that number is expected to double by 2050. Additionally, 185,000 people require amputations each year. This means 300 to 500 amputations are performed every day. Additionally, the availability of highly skilled orthopedic surgeons in the country is also supporting the growth of the U.S. orthopedic power tools market. Furthermore, factors such as technological advancements related to orthopedic surgery in North America also add value to the market growth in the long run.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Drivers

The prevalence of osteoarthritis, osteoporosis, fractures, and other orthopedic disorders has increased significantly in recent years. These features combine to result in a large number of patients requiring treatment and surgery. According to The Ohio State University, fractures account for 16 percent of all musculoskeletal injuries in the United States each year. Approximately 6.3 million fractures occur in the United States each year. Approximately 900,000 people are hospitalized each year due to broken bones. Increase in surgical procedures performed and performed across the globe is driving up the demand for power tools such as drills, saws, etc.

The use of orthopedic power tools spends less surgical time compared to conventional hand tools, which is driving the demand for power tools and positively changing the market trends in orthopedic power tools. According to one study, it takes about 3.4 minutes for a power tool to insert a pedicle screw and about 5.4 minutes for a hand instrument to insert a screw.

Restraints

A major factor increasing the demand for these devices is the increase in the number of programs. However, the acquisition and maintenance costs of these devices are high, especially the reusable devices limit their use in surgery. According to a recent article by the National Center for Biotechnology Information, the cost of purchasing a reusable battery drill is said to hover between $6,000 and $7,000. High cost of orthopedic power tools has led surgeons to look for other tools, hampering market growth.

Opportunities

Technological advancements in surgical power tools boost demand and market growth. Due to the increased demand for orthopedic procedures, tools such as remodeling tools, irrigation sleeves, heavy-duty attachments, foot attachments, elite attachments, and autoclavable orthopedic drills help physicians perform better and faster procedures. According to one study, approximately 7 million orthopedic procedures are performed in the United States each year. Most of these procedures are performed for knee and hip replacements. According to the Agency for Healthcare Research and Quality, more than 450,000 hip replacements are performed in the United States each year.

Newer applications of orthopedic power tools are contributing to wider usage of these devices, contributing to their market growth. Orthopedic power tools are now available for bone, soft tissue, tissue reconstruction, extremities, neurosurgery, spine, traumatology, ENT, sawing and reaming which will greatly benefit surgeons and patients worldwide treating their disease. According to a NCBI study, approximately 900,000 Americans and 30,000 Canadians undergo spinal surgery each year. According to another study, approximately 500,000 Americans undergo surgery each year for lower spine pain alone. As these numbers continue to increase, the multifunctional use of orthopedic power tools will increase.

Orthopedic Power Tools Market report scope:

Crucial Points from this Orthopedic Power Tools Report

• Estimate Orthopedic Power Tools market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Orthopedic Power Tools market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Orthopedic Power Tools market?

The Orthopedic Power Tools Market is growing at a CAGR of 4.1% During Forecast Period.

 What are the key types of Orthopedic Power Tools market?

Electric Powered, Battery Operated, Pneumatic Powered,

What are the key applications of Orthopedic Power Tools market?

Hospitals, Clinics, Ambulatory Surgery Centers (ASC)              

Who are the key players in Orthopedic Power Tools market?

DePuy Synthes, Arthrex, Johnson & Johnson, Stryker, B. Braun, Medtronic, Smith & Nephew, Zimmer Biomet, ConMed, OsteoMed, Brasseler USA, MicroAire, De Soutter Medical, Adeor, And others.