Global Orthopedic Power Tools Market Size Hit USD 2.20 Billion at a CAGR of 4.1% in 2030
The global orthopedic power tools market size was USD 1.54 Billion in 2021 and is expected to register a revenue CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data.
Orthopedic procedures are becoming more and more necessary to treat conditions like osteoarthritis (OA), fractures, osteoporosis, etc., which is driving up demand for orthopaedic power equipment. Nearly 30 million persons were reported to have osteoarthritis in 2017, according to the Arthritis Foundation.
Osteoarthritis is more common as people get older, and it starts in approximately 80% of those over 65. The demand for technical advancements in orthopaedic operations has increased due to the rising number of accidents around the world, which has also had a beneficial impact on the market’s expansion.
The increased incidence of osteoporosis contributes significantly to the demand for orthopaedic procedures and, eventually, power tools. Osteoporosis is a serious problem everywhere due to the expanding elderly population, particularly in developing countries. The need for orthopaedic surgery power tools is also being fueled by an increase in the frequency of delicate fractures of the wrist, hip, and spine. One of the primary factors affecting the market expansion is the technological and operational advancements in tool designs through time. Regulations pertaining to the standardisation of operating room supplies are being promoted by numerous governments and corporate entities more frequently.
Companies profiled in the market report include ConMed Corporation, Stryker Corporation, Medtronic PLC, DePuy Synthes, B Braun Melsungen AG, Zimmer Biomet, Arthrex, Micro Aire, De Soutter Medical, and Aygun Surgical Instruments.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2022-2030. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Orthopedic Power Tools Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Orthopedic Power Tools Market.
Further key findings from the report suggest,
- The orthopaedic power tool market is divided into four categories based on type: large bone, tiny bone, high-speed power tools, and orthopaedic reamers. The market’s highest share belongs to the large bone power tool category. Due to factors including the increase in accidents, sports injuries, and orthopaedic, this market is expected to maintain its dominance during the forecast period.
- Pneumatic-powered systems, electric-powered systems, and battery-powered systems are the three technology-based market segments. The two main categories of power tools in this industry are conventional and disposable. In recent years, people have started favouring single-use or disposable instruments over traditional or reusable ones.
- Due to rising healthcare costs in the United States, North America has the greatest share of the market under study. The presence of highly qualified orthopaedic physicians in the nation is also contributing to the expansion of the American market. The region’s demand for orthopaedic surgical power tools is being driven by the rising demand for orthopaedic operations. Long-term market growth is also influenced by additional factors, such as technology developments connected to orthopaedic procedures in the US.
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For the purpose of this report, Reports and Data has segmented the global orthopedic power tools industry into Type Outlook, Technology Outlook, Regional Outlook:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Large Bone
- Small Bone
- Single Use (Disposable)
- Orthopedic Reamers
Technology Outlook (Revenue, USD Billion; 2019-2030)
- Battery Operated
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Advantages of Orthopedic Power Tools Market Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Orthopedic Power Tools industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Orthopedic Power Tools Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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