ORTHOPEDIC POWER TOOLS MARKET ANALYSIS

Orthopedics aim at the treatment of various orthopedic disorders in the musculoskeletal systems, which include musculoskeletal trauma, spine diseases, musculoskeletal injuries and infections. Orthopedic power tools are lightweight, user friendly as compared to conventional heavy orthopedic tools, and easy to handle while performing orthopedic surgeries. Orthopedic power tools are categorized into three types such as electric powered orthopedic tools, battery operated power systems, and pneumatic power tools.

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).

Figure 1. Global Orthopedic Power Tools Market Share (%), by Product Type, 2022

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Global Orthopedic Power Tools Market - Drivers

The increasing incidence of spinal injuries is one of the factors that is expected to drive the market growth during the forecast period. For instance, according to the report published by the National Spinal Cord Injury Statistical Center in 2020, incidence of spinal cord injury is approximately 54 cases per one million people in the U.S.

Moreover, increasing number of product launches and regulatory approvals for orthopedic power tools are expected to propel the market growth during the forecast period. For instance, in September 2020, Medtronic Private Limited, launched Sonicision curved jaw cordless ultrasonic dissection system, which provides health care professionals with greater precision and convenience during orthopedic surgeries.

Figure 2. Global Orthopedic Power Tools Market Share (%), by Region, 2022

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Global Orthopedic Power Tools Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another. Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in more than 634,522,052 confirmed cases infected by COVID-19 worldwide as of 21 November, 2022.

Moreover, there is significant impact of COVID-19 pandemic on various surgical procedures, including orthopedic surgeries. Strict guidelines were specified to each specialty that has to be implemented and followed for orthopedic surgeons to provide safe and effective care to their patients during the COVID-19 pandemic. For instance, in August 2021, an article was published in Cureus Journal according to which, in Chile, South America the number of orthopedic surgeries fell by 22.8% during the first year of the pandemic. The maximum adverse impact was seen in knee arthroplasty (-64%), followed by hip arthroplasty (-41%) and knee ligament reconstruction (-44%).

Global Orthopedic Power Tools Market: Key Developments

In June 2021, Stryker, one of the leading medical technology companies, announced their partnership with Texas Health Hospital Mansfield. The hospital will be adopting the full suite of Stryker products to support their journey to eliminate harm for healthcare providers and patients in the operating room. This partnership will enhance the distribution portfolio of Stryker.

In May, 2021, ARBUTUS MEDICAL, a medical equipment manufacturer, announced that they have launch SteriTrak. SteriTrak includes a specialized pin and single-use drill cover in one package that includes a DeWalt drill, batteries and charger to the hospital to support the efficiency and speed of trauma centers when performing skeletal traction. SteriTrak is the power tool kit used for placing a pin, wire, or screw in the fractured bone, thus ARBUTUS MEDICAL has expanded its distribution network across the U.S.

Global Orthopedic Power Tools Market: Restraint

The major factors that hinder growth of the global orthopedic power tools market include high cost of surgical procedures in the hospitals. For instance, in October 2022, a paper was published by National Library of Medicine, according to which, procedures performed at ambulatory surgery centers were found to be significantly less costly than those performed at hospitals.

Global Orthopedic Power Tools Market- Key Players

Major players operating in the global orthopedic power tools market include De Soutter Medical, B. Braun SE, AYGUN CO.,INC., Medtronic, Johnson & Johnson Services, Inc., Zimmer Biomet, Stryker, Bmedical bees GmbH, adeor medical AG., Shanghai Bojin Medical Instrument Co.,Ltd, CONMED Corporation., NSK / Nakanishi inc., MicroAire Surgical Instruments, LLC., Brasseler USA, ARBUTUS MEDICAL, joimax GmbH among other prominent players