Orthopedic Power Tools Market is Anticipated to Surpass USD 3.5 Billion at a CAGR of 4.8% by 2032

The worldwide orthopedic power tools market made for approximately 1% of the global surgical instruments market in 2021. The global orthopedic power tools market is expected to provide an absolute dollar potential of USD 1.3 billion between 2022 and 2032.

The recent growth in the global geriatric population has resulted in an increase in the frequency of orthopedic disorders that require surgical intervention, driving up demand for orthopedic power instruments. The introduction of current electronic technology such as power-assisted, robotic, and minimally invasive orthopedic surgical equipment has increased utilization of orthopedic power tools. As a result, prominent manufacturers have been actively engaged in areas of orthopedic power tool safety and ergonomics, in an effort to provide a range of power-assisted equipment customized to the precision of the procedure's nature, while also addressing surgeon efficacy and safety.

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Leading businesses in the market are constantly releasing innovative and advanced technology-based orthopedic power tools, creating entry barriers for new market competitors. The market is tremendously competitive, forcing established businesses to increase their efforts to maintain their position.

Region-wise Insights

The North American orthopedic power tool market has the greatest market share (24.8%).One of the primary drivers of market expansion is the growing online presence of players with a robust distribution network and well-established healthcare infrastructure. Furthermore, the increasing incidence of occurrences and amputations in the country is driving market demand.

East Asia and South Asia & Oceania orthopedic power tool markets account for 19.8% and 18.9% of the total market share, respectively. Together, they account for 38.7% of the market. The region's increasing number of orthopedic treatments is primarily responsible for the high growth rate. Furthermore, the region is profitable for key players in terms of acquiring a large consumer base, and the ease with which production capacities can be expanded is projected to drive market growth in the region in the future years.

Competitive Landscape: Top Companies in Orthopedic Power Tools Market

The global orthopedic power tools market is extremely fragmented and competitive due to the presence of numerous local and regional companies. Key players use a variety of marketing techniques, including mergers & acquisitions, expansion, collaborations, and partnerships.

Also, leading organizations use new product creation as a strategic way to increase their market presence among consumers. These efforts have led to the introduction of modern orthopedic power instruments.

For instance:

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.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.factmr.com/report/334/orthopedic-power-tools-market

Global Orthopedic Power Tools Market by Category

By Product Type:
Small Bone
Large Bone
High Speed
By Modality:
Single Use
Reusable
By Technology:
Pneumatic-powered Systems
Electric-powered Systems
Battery-powered Systems
By End-User:
Hospitals
Ambulatory Surgical Centers
Orthopedic Clinics
By Region:
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the orthopedic power tools market, presenting historical demand data (2017-2019) and forecast statistics for the period of 2023-2032.

The study divulges essential insights on the orthopedic power tools market on the basis of nature of waste (non-hazardous waste, hazardous waste), waste type (sharps, infectious & pathological waste, radioactive waste, pharmaceutical waste, non-infectious waste), waste generator type (large quantity waste generators, mid & small quantity waste generators), and service (on-site services, off-site services), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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This release was published on openPR.