Orthopedic power tools are instruments that are used by orthopedic surgeons and operating room personnel during orthopedic surgeries and procedures. Some common orthopedic power tools include electric drivers, burrs, saws, reamers, and others. These tools help to cut, grind, shape and join bones and implant devices with precision and control during orthopedic surgeries. Orthopedic power tools provide advantages like precise cut control, reduced surgery time and less tissue damage compared to conventional hand tools. The growing prevalence of musculoskeletal diseases and rise in accidents have increased the demand for various orthopedic procedures like joint replacement surgeries, trauma fixation, and spinal surgeries. As a result, the use of orthopedic power tools during such procedures has also increased considerably.
Global orthopedic power tools Market is estimated to be valued at US$ 1,008.1 million in 2022 and is expected to exhibit a CAGR of 3.8% during the forecast period (2022-2030).
Key Takeaways
Key players operating in the Orthopedic Power Tools market are Stryker Corporation, Zimmer Biomet Holdings Inc., DePuy Synthes, Arthrex, ConMed Corporation, Smith & Nephew Plc, Brasseler USA, Medtronic Plc, B. Braun Melsungen AG, and MicroAire Surgical Instruments LLC.
The growing prevalence of bone diseases and rise in trauma and accident cases has increased the demand for Orthopedic Power Tools Market Demand. This is expected to drive the demand for orthopedic power tools during the forecast period.
Advancements in power tool technology like more durability, improved precision and control, bone-specific accessories and customized surgical procedures have widened the scope of applications of orthopedic power tools.
Market Trends
Battery powered orthopedic power tools market is witnessing high growth as these tools offer advantages like wireless usage, better ergonomics and portability compared to corded tools. However, corded electric tools still remain the standard for operating rooms.
Development of single-use sterile packed orthopedic power tools to reduce risk of infection transmission during surgeries. Single-use tools eliminate necessity of re-processing and sterilization of tools between surgeries.
Market Opportunities
Emerging markets in Asia Pacific and Latin America are expected to provide new opportunities for major players due to increasing healthcare investments, surging orthopedic procedures and growing medical tourism in these regions.
Rise in number of large-scale ambulatory surgery centers especially in developed countries present lucrative growth prospects for orthopedic power tool manufacturers.
Impact of COVID-19 on Orthopedic Power Tools Market Growth
The COVID-19 pandemic has significantly impacted the growth of orthopedic power tools market. During pre-COVID times, the market was growing at a steady pace owing to rising geriatric population suffering from orthopedic conditions and increasing number of surgeries performed globally. However, the outbreak severely affected the market growth in 2020.
Many non-essential surgeries including orthopedic procedures were postponed or canceled during the peak period to avoid virus transmission and focus on treatment of COVID patients. This led to a major decline in demand for orthopedic power tools from hospitals and clinics. Manufacturing and supply chain disruptions further negatively impacted the market.
With gradual easing of lockdowns and resumption of surgeries in 2021, the market has started recovering. However, the demand is yet to reach pre-COVID levels. The postponed surgeries are being scheduled now which is driving the market growth. Meanwhile, market players are focusing on development of advanced tools to meet the changing needs. They are integrating technologies like robotics, IoT and artificial intelligence to offer better precision and efficacy. Going forward, rising prevalence of orthopedic conditions, lifestyle diseases and aging population will boost the market in coming years. Ongoing medical innovations and adoption of minimally invasive surgeries will further fuel the demand.
In terms of value, North America is currently the biggest market for orthopedic power tools globally. This is attributed to presence of major players, high occurrence of orthopedic conditions, advanced healthcare infrastructure and rising obese population suffering from joint issues in the region. Going forward, Asia Pacific region is anticipated to witness fastest market growth during forecast period owing to rapidly increasing geriatric population, improving access to healthcare and rising medical tourism in countries like India and China.
The highest market concentration in terms of value currently lies in United States due to large patient pool, supportive healthcare reforms and robust reimbursement framework. The country also has presence of almost all key orthopedic power tools manufacturers. Going forward, China and India are projected to emerge as the fastest growing regional markets owing to elevating standards of living, expanding medical infrastructure and rising healthcare spends per capita in these nations. This will significantly boost the adoption of advanced tools for orthopedic procedures in Asia Pacific.
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