Burlingame, Feb. 10, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the 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).
Key Trends and Analysis of the Global Orthopedic Power Tools Market:
Major players operating in the market are focusing on adopting strategies such as acquisition, which is expected to drive the market growth over the forecast period. For instance, in November 2021, Stryker, medical device and equipment manufacturing company, acquired Wright Medical Group N.V, a medical device company. This acquisition enhances global market position of Stryker in trauma and extremities, providing significant opportunities to advance innovation and delivering solutions that will improve patient outcomes.
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Key Market Takeaways:
The global orthopedic power tools market is expected to exhibit a CAGR of 3.8% during the forecast period due to increasing prevalence of below knee-amputation due to road traffic accidents will fueled demand for orthopedic power tools and is expected to drive the market growth over the forecast period. For instance, in January 2021, a paper was published by National Center for Biotechnology Information, according to which 4.1% trauma patients underwent amputation in India, among which 32.8% had amputation below the level of the knee joint and road traffic accidents were the most common cause of the amputation.
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 to the safety provided by the electric powered tools. For instance, in November 2021, a research article published by ResearchGate, according to which, the newly developed electric powered tools are safe for different orthopedic surgeries. For example, tissue-selective piezoelectric drills, used in head and neck surgeries, reduce surface roughness and improve drill-hole quality.
Among region, North America segment is expected to hold a dominant position over the forecast period, owing to acquisition of medical device company. For instance, in May, 2022, CONMED Corporation, a medical technology company based in U.S., announce the acquisition of In2Bones Global, Inc., a developer, manufacturer, and distributor of medical devices for the treatment of disorders and injuries of the upper (hand, wrist, elbow) and lower (foot and ankle) extremities This acquisition will enhance the orthopedic portfolio of CONMED Corporation.
Competitive Landscape:
Key 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
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Market Segmentation:
- 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
- Global Orthopedic Power Tools Market, By Technology:
- Electric Powered Systems
- Battery Operated Powered Systems
- Pneumatic Powered System
- Global Orthopedic Power Tools Market, By End User:
- Orthopedic Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
- Global Orthopedic Power Tools Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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