Pune, India, Feb. 25, 2022 (GLOBE NEWSWIRE) -- The global orthopedic power tools market size is projected to grow from USD 1.54 billion in 2021 to USD 2.05 billion by 2028 at a CAGR of 4.1% during the 2021-2028 period. This information is provided by Fortune Business Insights, in its report titled, “Orthopedic Power Tools Market, 2021-2028.”
Industry Developments:
- December 2020: Midas Rex high-speed drills with Mazor Robotic Guidance System have been cleared by the U.S. Food and Drug Administration, allowing Medtronic's robotic portfolio to provide a precise surgical experience.
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Market Drivers and Restraints:
- Orthopedic power tools enable surgeons to complete the same surgical procedures faster and with more precision and accuracy. Orthopedic power tools have been widely used in the global market due to their persistent positive results.
- They also have various advantages, such as being lightweight, simple to install, and cost-effective. Surgical power tools have become highly popular in the global market due to this continual progress in the field of orthopedics.
- To meet Orthopedic Power Tools Market demand, the major manufacturers are also developing novel and technologically advanced products. However, the expensive acquisition and maintenance expenses of these devices, particularly reusable devices, are preventing orthopedic surgeons from using them.
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Market Segments:
By product type, the market is segmented into instruments (surgical drills, saws, and accessories), and others. Based on application, the market is fragmented into electric power device, pneumatic power device, and battery power device.
Based on usage, the market is segregated into reusable and disposable. Based on end-user, the Orthopedic Power Tools Market is divided into hospitals & ASCs, and specialty clinics. Finally, by geography, the market is divided into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Orthopedic Power Tools Market Regional Analysis:
- The market in the U.S. is expected to increase at a high rate during the projected period. Some of the major factors driving market expansion include the direct presence of key regional companies, a strong distribution network, and well-established healthcare infrastructure.
- As the number of orthopedic procedures performed in the U.S. and Canada grows, so does the demand for orthopedic power instruments. This, together with suitable reimbursement regulations and improved healthcare infrastructure, is driving the region's adoption of power tools even faster.
- The second-largest share of the orthopedic power tools market share was held by Europe. This is due to the availability of acceptable payment policies for major orthopedic surgeries and an increase in the number of surgical procedures in Germany, the U.K., and France.
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List of Key Players Mentioned in the Report:
- Stryker (Kalamazoo, U.S.)
- Conmed Corporation (Largo, U.S.)
- Zimmer Biomet (Warsaw, U.S.)
- Johnson& Johnson Services Inc. (New Brunswick, U.S.)
- B. Braun Melsungen AG (Melsungen, Germany)
- De Soutter Medical (Buckinghamshire, U.K.)
- AlloTech Co. LTD (Namyangju-si, South Korea)
- Kaiser Medical Technology (Chippenham, England)
- Medtronic (Dublin, Ireland)
- NSK/NAKANISHI (Kanuma, Japan)
Table Of Contents :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Number of Key Orthopedic Surgeries, By Region/Country, 2020
- New Product Launches, By Key Players
- Impact of COVID-19 on the Market
- Recent Key Developments, Mergers, and Acquisitions, Key Players
- Global Orthopedic Power Tools Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Instruments
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- Surgical Drills
- Saws
- Others
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- Accessories
- Market Analysis, Insights and Forecast – By Technology
- Electric Powered Device
- Pneumatic Powered Device
- Battery Powered Device
- Market Analysis, Insights and Forecast – By Usage
- Reusable
- Disposable
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASCs
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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