Global Orthopedic Power Tools Market, by Product Type (Large Bone Orthopedic Power tools, Small Bone Orthopedic Power tools, High Speed Bone Orthopedic Power tools, Orthopedic Reamers), by Technology (Electric Powered Systems, Battery Operated Powered Systems, Pneumatic Powered System), by End User (Orthopedic Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of musculoskeletal conditions is expected to drive the market growth over the forecast period. For instance, in July 2022, a data was provided by the World Health Organization, according to which approximately 1.71 billion people have musculoskeletal conditions worldwide including low back pain, neck pain, fractures, other injuries, osteoarthritis, amputation and rheumatoid arthritis.
Global Orthopedic Power Tools Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a significant impact on the orthopedic power tools market, owing to the cancellation of elective surgeries for orthopedic procedures. For instance, in May 2020, research paper was published by University of Birmingham, according to which around 6.3 million orthopedic surgeries cancelled worldwide over a 12-week period.
Global Orthopedic Power Tools Market: Key Developments
In June, 2021, joimax GmbH, one of the leading developer and marketer of complete systems for endoscopic minimally invasive spinal surgery, announced the launch of new generation Shrill, the Shaver Drill System. This new system is equipped with a handle and blade detection system and intended to use in the treatment of stenosis.
In June 2019, Medtronic, a medical device company announce the acquisition of itan Spine, a medical device surface technology company. Under this acquisition Medtronic Plc acquired the complete product portfolio of Titan Spine and plans to develop the nano-lock surface technology of Titan Spine with orthopedic power technologies of Medtronic Plc.
Browse 33 Market Data Tables and 32 Figures spread through 156 Pages and in-depth TOC on “Global Orthopedic Power Tools Market”- Forecast to 2030, Global Orthopedic Power Tools Market, by Product Type (Large Bone Orthopedic Power tools, Small Bone Orthopedic Power tools, High Speed Bone Orthopedic Power tools, Orthopedic Reamers), by Technology (Electric Powered Systems, Battery Operated Powered Systems, Pneumatic Powered System), by End User (Orthopedic Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/orthopedics-power-tools-market-1161
Moreover, increasing musculoskeletal disorders like fracture, osteoporosis, osteoarthritis, and other orthopedic disorders is expected to drive the market growth over the forecast period. For instance, in March 2021, a paper was published by American College of Rheumatology, according to which the overall burden of disease is assessed using the disability-adjusted life year (DALY), a time-based measure, so the burden due to musculoskeletal conditions was higher in developed countries which was measured to be disability-adjusted life year (DALY) rates per 100,000 population were 16,276.2, globally.
Key Takeaways of the Global Orthopedic Power Tools Market:
- The global orthopedic power tools market is expected to exhibit a CAGR of 3.8% during the forecast period due to the increasing incidence of fractures, osteoporosis, osteoarthritis, and other orthopedic disorders in the U.K. For instance, a journal was published by ScienceDirect in February 2021, according to which around 129,348 patients with osteoarthritis were found in U.K., so the risk of fracture in adults with osteoarthritis is increasing.
- Among Technology, Electric Powered Systems segment is estimated to hold a dominant position in the global orthopedic power tools market over the forecast period, owing product launch of electric surgical drill system. For instance, in August, 2021, adeor medical AG, a manufacturer of surgical equipment and tools, announce the strategic and commercial partnership with a ClearPoint Neuro, Inc., a therapy-enabling platform company providing navigation and delivery to the brain, for distribution of the U.S. Food and Drug Administration-cleared Velocity Alpha high-speed surgical drill system utilized by neurosurgeons in the operating room for cranial and spinal procedures.
- Among regions, North America is estimated to account for the largest market share in the global orthopedic power tools market over the forecast period, owing to product launch by the key players is expected to drive the market growth over the forecast period. For instance, in November, 2021, DePuy Synthes, a subsidiary of Johnson & Johnson Services, Inc., announced the launch of UNIUM System, a reciprocating saw – along with a comprehensive portfolio of attachments and cutting tools. The launch of the UNIUM System enhanced the power tool portfolio of DePuy Synthes.
- 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
