Press release
Orthopedic Power Tools Market Status and Forecast, by Players, Types and Applications
Orthopaedic Power Tools: Introduction• The branch of orthopedics in the medical field deals with the skeletal system and joints, muscles, and ligaments associated with it. Orthopedic surgeries have been playing a vital role in correction and prevention of disorders related to the skeletal system.
• However, orthopedic surgery was revolutionized with the introduction of orthopedic surgical power tools. They are currently an integral part of modern operative orthopedics. Surgeons often use these electrically operated devices during surgeries in order to drill through bones and incorporate implants in respective holes.
• A significant advantage of orthopedic power tools is that they enable surgeons to perform the same surgical procedures with greater pace, more precision, and higher accuracy
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Key Drivers of Global Orthopaedic Power Tools Market
• Perpetual prevalence of osteoporosis and a few other ailments play a major role in propelling the demand for orthopedic surgeries and eventually, power tools as well
• Rise in geriatric population is driving the incidence of osteoporosis worldwide, especially in developing nations
• Increase in incidences of fragile fractures in wrist, hip, and spine are further fueling the demand for orthopedic power tools. Technological and operational advancements in tool designs over the years is a major factor boosting the market.
• Several governments and private authorities are increasingly promoting regulations regarding operating room supply standardization. This is also a key factor driving the power tools market.
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Large Bone Orthopedic Power Tools Segment to Dominate Global Market
• In terms of type, the global orthopedic power tools market can be classified into large bone orthopedic power tools, small bone orthopedic power tools, high-speed orthopedic power tools, and orthopedic reamers
• The large bone orthopedic power tools segment is expected to dominate the global market during the forecast period due to high usage of orthopedic power tools in large bone surgeries
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Electric-powered Systems Segment to Lead Global Market
• Based on technology, the global orthopedic power tools market can be divided into pneumatic-powered systems, electric-powered systems, and battery operated-powered systems.
• The electric-powered systems segment is likely to dominate the global market during the forecast period, as these tools are convenient and cost-effective
Hospitals to be Highly Lucrative Segment
• In terms of end-user, the global orthopedic power tools market can be categorized into hospitals, ambulatory surgical centers, and others
• The hospitals segment is projected to account for major share of the global orthopedic power tools market by 2030 due to a large number of patients treated in hospitals for orthopedic surgeries
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North America to Offer Significant Opportunities in Orthopaedic Power Tools Market
• In terms of region, the global orthopedic power tools market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the global orthopedic power tools market in 2019 owing to a significantly high demand for spinal and other orthopedic procedures in the region
• Rise in cases of osteoporosis is also fueling the demand for orthopedic power tools in most developing economies in Asia Pacific. China, Australia, and Japan represent notable and rapidly growing markets in the region.
• However, price sensitivity is influencing the rate of adoption orthopedic power tools in each regional market
Key Players Operating in Global Orthopaedic Power Tools Market
The global orthopedic power tools market is highly fragmented, with the presence of international and local players.
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