Press release
Global Orthopedic Surgical Power Tools Market: Industry Size, Share, Growth, Forecasts 2016 - 2024
The branch of orthopedics 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, the world of 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. The biggest 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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Used in a wide range of surgical aspects, including everything from wound management to pulse lavage, these power tools are primarily used in treating long bone fractures. Over the years, orthopedic power tools have evolved into lightweight devices, which are much easier to use than they were earlier. They are easy-to-assemble, highly modular, and economically affordable. Owing to consistently positive performance, orthopedic surgical power tools have been popular in the global market.
Perpetual prevalence of osteoporosis and a few other ailments play a major role in propeling the demand for orthopedic surgeries, and eventually power tools as well. With growing geriatric population, osteoporosis is highly pronounced worldwide, especially in developing nations. Increasing incidences of fragile fractures in wrist, hip, and spine are further contributing to the demand for orthopedic surgical power tools. Technological and operational advancements in tool designs over the years, counts among the top factors influencing the market growth. Several governments and private authorities are increasingly promoting regulations regarding operating room supply standardization. This is also a crucial driving factor for the power tools market.
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Orthopedic Surgical Power Tools Types
Orthopedic surgical power tools are available in four key types, including large bone orthopedic power tools, small bone orthopedic power tools, high-speed orthopedic power tools, and orthopedic reamers. The technology used for each tool may however differ. Based on technology, there are three categories, including pneumatic-powered systems, electric-powered systems, and battery operated-powered systems. Traditional power tools and disposable power tools are also the two major segments of this market. The preference for disposable/single-use tools from conventional/reusable tools is increasing since the past few years. The latter are high maintenance and expensive, whereas the former are convenient and cost-effective.
Orthopedic Surgical Power Tools: Region-wise Analysis
Geographical analysis of the global orthopedic surgical power tools market indicates that the adoption of power tools is considerable in almost all over the globe but North America is a key market, owing to a staggering demand for spinal and other orthopedic procedures. In addition, rising cases of osteoporosis are fueling the demand for orthopedic power tools in most of the developing economies in Asia Pacific. China, Australia, and Japan represent notable regions with rapidly growing markets. However, price sensitivity are influencing the adoption rates of orthopedic power tools in each regional market.
Some of the key players in the global power tools market are ConMed Corporation, Medtronic, Stryker Inc., Arthrex, Zimmer Holdings Inc., DePuy Synthes, Misonix Inc., Aesculap, Adeor, Aygun Surgical Instruments, MedicMicro, B. Braun, OsteoMed, Brasseler USA, and Stars Medical Devices.
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Leading companies are frequently launching advanced, innovative technology-based power tool products. However, new entrants have been impactful in a way. The marketplace is creating extremely competitive scenario, which is forcing established players to enhance efforts and stand out. Ongoing research is also focusing on the possibilities of using novel, more efficient energy sources to power tools and interchangeability of hand pieces for better modulation and convenience.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
Key market segments and sub-segments
Evolving market trends and dynamics
Changing supply and demand scenarios
Quantifying market opportunities through market sizing and market forecasting
Tracking current trends/opportunities/challenges
Competitive insights
Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
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