Orthopedic Power Tools Market will generate new growth opportunities by 2025

Orthopedics is the branch of surgery concerned with conditions involving the musculoskeletal system. The branch is characterized by both surgical and nonsurgical means to treat musculoskeletal trauma, spine diseases, sports injuries, degenerative diseases, infections, tumors, and congenital disorders. Procedures such as dissection, fixation, shaping, cutting, and fragmentation in orthopedic procedures are performed with the help of instruments and accessories powered with electricity. Moreover, several of these tools are pneumatic that are powered using nitrogen or compressed air. Pneumatic-powered tools are easy to handle as they are small, vibration free, and light in weight. Orthopedic power tools facilitate accuracy and speed while performing orthopedic surgeries. Light-weight, highly modular, easy-to-assemble, and user friendly orthopedic power tools are easier to handle as compared to conventional heavy tools. Such properties of orthopedic power tools are contributing to positive growth of the orthopedic power tools market.

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Market Dynamics:

Major factors responsible for growth of orthopedics power tools market include increasing number of orthopedic surgeries coupled with shortage of skilled and trained surgeons. According to Becker’s Ambulatory Surgical Centre Review, in 2011, total of 5.3 million orthopedic surgeries were performed and this number was projected to rise to 6.6 million by 2020. This high prevalence rate is expected to fuel demand for orthopedic power tools for orthopedic surgical procedures in the near future.

Other factors such as new product launches and advancement in technology in these devices is also contributing to the market growth. For instance, in March 2017, Stryker Corporation introduced range of instruments under brand name System 8 Power Tool. The tool has advanced System 8 SABO sagittal saw and System 8 cordless drivers for better accuracy and efficiency.

However, contamination in the reusable devices, pricing pressure on manufacturers, and unfavorable reimbursement scenario are expected to restrain the market growth. For instance, according to CDC in 2011, the prevalence of healthcare associated infection were estimated at 157,500 surgical site infections in inpatient surgeries.

Global orthopedic power tools market growth is driven by advancements in technology and rise in orthopedic surgeries:

High prevalence of osteoporosis and increasing orthopedic surgeries are major factors driving growth of the global orthopedic power tools market. According to the International Osteoporosis Foundation, in 2014, 200 million individuals suffered from osteoporosis. Similarly, according to Becker’s Ambulatory Surgical Centre Review, in 2011, around 5.3 million orthopedic surgeries were performed and the number was projected to reach 6.6 million by 2020. Such high prevalence rate of osteoporosis and orthopedic surgeries is expected to fuel demand for orthopedic power tools over the forecast period.

Advancement in technology and increasing geriatric population is expected to propel growth of the market. For instance, in March 2017, Stryker Corporation introduced a range of instruments under the brand name System 8 Power Tool. The tool is used for orthopedic applications and includes advanced System 8 SABO sagittal saw and System 8 cordless drivers that offer better accuracy and are more efficient.

However, contamination of sterile instruments, increasing expanse associated with manufacturing of orthopedic power tools, and stringent government regulations are factors hindering growth of the orthopedic power tools market. The standard registration fees by FDA for larger companies manufacturing medical devices has increased by 33% in 2018 with the 510(k) application fees rising by 125%.

The global orthopedic power tools market was valued at US$ 829.63 million in 2016 and is expected to exhibit a robust CAGR of 3.3% over the forecast period (2017–2025).

Competative Analysis:

Key players operating in the global orthopedic power tools market include Stryker Inc., Zimmer Holdings Inc., Misonix Inc., Arthrex, Aesculap, ConMed Corporation, DePuy Synthes, Brasseler, Medtronic, MedicMicro, B. Braun, OsteoMed, and Aygun Surgical Instruments.

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