Increase In Sales Of Orthopedic Power Tools Market To Scale Revenue Growth In Global Market : Fact.MR
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing orthopedic power tools, along with their product portfolios, key strategies, SWOT Analysis, enhances the reliability of this comprehensive research study.
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Global Orthopedic Power Tools Market by Category
By Product Type, Global Orthopedic Power Tools Market is segmented as:
Small Bone Orthopedic Power Tools
Large Bone Orthopedic Power Tools
High Speed Orthopedic Power Tools
By Modality, Global Orthopedic Power Tools Market is segmented as:
Single Use Orthopedic Power Tools
Reusable Power Orthopedic Tools
By Technology, Global Orthopedic Power Tools Market is segmented as:
By End-User, Global Orthopedic Power Tools Market is segmented as:
Ambulatory Surgical Centers
By Region, Global Orthopedic Power Tools Market is segmented as:
South Asia & Oceania
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Competitive Landscape: Top Companies in Orthopedic Power Tools Market
The global orthopedic power tools market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced orthopedic power tools.
Fact.MR has provided detailed information about price points of key manufacturers in orthopedic power tools market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Medtronic Pvt. Ltd. in 2020 launched Sonicision curved jaw cordless ultrasonic dissection system, which is able to provide convenience and greater precision during orthopedic surgeries.
Zimmer Biomet Holdings Ltd. acquired A&E Medical Corporation in 2020. This acquisition will provide a complete product portfolio of sternal closure devices, which includes cable systems, sternal sutures, and rigid fixation coupled with other surgical products.
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6 Key Takeaways from Fact.MR's Report on Orthopedic Power Tools Market for Forecast Period 2017-2026
North America is anticipated to remain the largest market for orthopedic power tools, in terms of revenues. Factors such as large-scale presence of surgical centers and hospitals, along with rapid technological advancements are expected to retain North America's dominance in the market. The market in Europe will also account for a major portion of the market's revenue share during 2017 to 2026.
Asia-Pacific excluding Japan (APEJ) will witness a robust expansion in the market through 2026. This growth can be primarily attributed to increased prevalence of osteoporosis in APEJ countries such as China and India, along with rising prevalence of medical tourism in the region owing to availability of low-cost modern medical equipment, advanced hospitals, and skilled surgeons.
Based on modality, revenues from reusable orthopedic power tools' worldwide sales will account for nearly three-fourth share of the market by 2026-end. However, reusable or disposable tools are expensive, require high maintenance costs, and are associated with risks regarding infection from patient. This has led surgeons toward adoption of single-use orthopedic power tools, which are convenient and cost-effective. Reusable orthopedic power tools will register the fastest expansion in the market through 2026.
Accounting for the largest market revenue share during 2017 to 2026, hospitals will remain the largest end-users of orthopedic power tools market. However, orthopedic clinics are projected to register the highest CAGR in the market through 2026. Revenues from ambulatory surgical centers will increase at a CAGR lower than those from orthopedic clinics, and higher than those from hospitals through 2026.
Although small bone power tools will account for the lowest revenue share of the market, their sales will reflect a relatively faster expansion than sales of large-bone power tools through 2026. In addition, sales of high-speed power tools will ride on the highest CAGR in the market, to become the second most lucrative product by 2026-end.
Key market participants profiled by Fact.MR's report include Stryker Corporation, Johnson & Johnson, Zimmer Biomet, B Braun, CONMED Corporation, and Misonix.
Source - https://www.factmr.com/report/334/orthopedic-power-tools-market
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