According to the current analysis of Reports and Data, the Global Orthopedic Power Tools Market was valued at USD 1.32 Billion in 2019 and is expected to reach USD 1.77 Billion by the year 2027, at a CAGR of 3.7%. The report covers different types of products that can boost up the market and the technology and the services available in this market to perform orthopedic surgeries. Orthopedic surgical power tools are cautiously generated power tools that are needed to execute orthopedic surgeries. They are necessitated by surgeons to inject the implants in the bones during orthopedic surgeries. These tools assist in the accuracy level required for orthopedic surgery, i.e., used by all surgeons.
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Owing to the consistently positive performance, orthopedic surgical power tools have been prevalent in the global market. They also provide several advantages as they are lightweight, easy to assemble, economically viable. Due to this consistent development in the field of orthopedic, surgical power tools have been very popular in the global orthopedic power tools market. Key participants include B. Braun Melsungen AG, ConMed Corporation, Johnson & Johnson, and Stryker Inc. Mergers and acquisitions are among the key strategies adopted by companies operating in this market. In January 2017, Zimmer Biomet acquired Medtech SA for USD 132 million to expand into robotic surgery to add ROSA robotic device to its product portfolio, which is used for brain and spine surgeries. The Merger and Acquisition (M&A) deal between Smith & Nephew and Blue Belt Holdings, Inc. took effect in January 2016, acquiring a dominant position in the growing areas of orthopedic robotics-assisted surgery for partial knee replacements.
Further key findings from the report suggest:
- Orthopedic Market is fastest growing at a CAGR of 2% in the Asia Pacific region, followed by North America. Rising cases of osteoporosis are fuelling the demand for orthopedic power tools in most of the developing economies in the Asia Pacific.
- Single-use power tools segment is the fastest growing in this market because of its inexpensive nature of products.
- Pneumatic-Powered Systems has the most lucrative market with a CAGR of 3.8%
- High-speed power tools will procure the highest CAGR in the market to become the second most lucrative product by 2027.
- Orthopedic clinics are projected to be the fastest expanding end-users in the orthopedic power tools market at a CAGR of 4.4%.
- Revenues from ambulatory surgical centers will increase at a CAGR lower than those from orthopedic clinics, i.e., 1.3% and higher than those from hospitals by 2027.
- Europe accounts for the second-largest market share of the global orthopedic power tools market at 32.8% due to the huge approval of funds through the European Union.
- Recently, governments and private organization are expanding their promotion of regulations concerning operating room supply standardization. This is also a crucial driving factor for the power tools market.
- The growing competition and austerity measures are expected to create pressure on healthcare providers to reduce the device cost, which can act as a barrier to market growth.
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Segments covered in the report:
For the purpose of the study, Reports and Data has segmented the Global Orthopedic Power Tools Market on the basis of product type, technology type, modality, application, end-user, and region.
Global Orthopedic Power Tools Market Segments:
Product Type: (Revenue, USD Million; 2017–2027)
- Large Bone Orthopedic Power Tools
- Small Bone Orthopedic Power Tools
- High-Speed Orthopedic Power Tools
- Single-Use (Disposable) Power Tools
- Orthopedic Reamers
Technology Type: (Revenue, USD Million; 2017–2027)
- Pneumatic-Powered Systems
- Electric-Powered Systems
- Battery Operated-Powered System
- Corded Tools
Modality: (Revenue, USD Million; 2017–2027)
- Single-Use Power Tools
- Reusable Power Tools
Application: (Revenue, USD Million; 2017–2027)
End-Use: (Revenue, USD Million; 2017–2027)
- Ambulatory Surgical Centres
- Orthopedic Clinics
Regional Outlook: (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
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