Orthopedics aim at the treatment of various orthopedic disorders in the musculoskeletal systems, which include musculoskeletal trauma, spine diseases, musculoskeletal injuries and infections. Orthopedic power tools are lightweight, user friendly as compared to conventional heavy orthopedic tools, and easy to handle while performing orthopedic surgeries. Orthopedic power tools are categorized into three types such as electric powered orthopedic tools, battery operated power systems, and pneumatic power tools.
The global orthopedic power tools market is estimated to be valued at US$ 943.8 million in 2020 and is expected to exhibit a CAGR of 3.50 % during the forecast period (2020-2027).
Figure 1. Global Orthopedic Power Tools Market Value (US$ Mn), 2016-2027
The increasing incidence of spinal injuries is one of the factors that is expected to drive the market growth during the forecast period. For instance, according to the report published by the National Spinal Cord Injury Statistical Center in 2018, incidence of spinal cord injury is around 54 cases per one million people in the U.S and around 17,700 new cases of spinal cord injury are diagnosed each year in the U.S.
Moreover, increasing number of product launches and regulatory approvals for orthopedic power tools are expected to propel the market growth during the forecast period. For instance, in September 2020, Medtronic Private Limited, launched Sonicision curved jaw cordless ultrasonic dissection system, which provides health care professionals with greater precision and convenience during orthopedic surgeries.
|Base Year:||2019||Market Size in 2020:||US$ 943.8 Mn|
|Historical Data for:||2016 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||3.50 %||2027 Value Projection:||US$ 1200.8 Mn|
De Soutter Medical, B. Braun Melsungen AG, Aygün Surgical Instruments Co., Inc, Medtronic plc, DePuy Synthes Companies, Zimmer Biomet, Stryker Corporation, Exactech, Inc, ERMIS MedTech GmbH, NOUVAG AG, Medical Bees GmbH, IMEDICOM Co., Ltd, Adeor Medical AG, Shanghai Bojin Medical Instrument Co., Ltd, and Allotech Co.,Ltd
|Restraints & Challenges:||
Global Orthopedic Power Tool Market – Impact of Coronavirus (COVID-19)
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report, the manifestation of the coronavirus (COVID-19) has resulted in more than 44 million infected individuals worldwide as of October 28, 2020.
The coronavirus (COVID-19) pandemic and resulting lockdowns in various countries across the globe have impacted the global orthopedic power tool market in following ways such as financial status of businesses in all sectors are affected, The private medical device sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The pandemic has negatively impacted the orthopedic power tool market in various fields such as development, production, and supply of medical devices, and also affected growth of the orthopedic power tool market globally due to lockdowns implemented by governments of several countries. The nationwide lockdowns have led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of the pharmaceuticals and kits for diagnostic and therapeutic use.
Moreover, trauma patients and patients with bone fractures are having very low risk of getting infected by COVID-19 infections, and thus healthcare professionals can perform surgeries depending upon the emergent, urgent, and elective condition of patients suffering from musculoskeletal trauma and bone fractures. For instance, According to Société Internationale de Chirurgie Orthopédique et de Traumatologie (SICOT) report published in May 2020, patients suffering from musculoskeletal trauma and bone fractures are at lower risk of getting infected by COVID-19 infection and thus healthcare professional can carry out procedures depending upon the emergent, urgent, and elective condition of patients.
Figure 2. Global Orthopedic Power Tools Market Share (%), by Region, 2020
Among regions, North America is expected to witness significant growth in the global orthopedic power toolsmarket, owing to key companies focusing on product launches and product approvals to hold the dominant position in market. For instance, in 2019, Medtronic Plc, launched Mazor X stealth edition orthopedic power tool, which can used by healthcare professional for spine surgeries caused due to spine injuries and accidents.
Major players operating in the global orthopedic power tools market include De Soutter Medical, B. Braun Melsungen AG, Aygün Surgical Instruments Co., Inc, Medtronic plc, DePuy Synthes Companies, Zimmer Biomet, Stryker Corporation, Exactech, Inc, ERMIS MedTech GmbH, NOUVAG AG, Medical Bees GmbH, IMEDICOM Co., Ltd, Adeor Medical AG, Shanghai Bojin Medical Instrument Co., Ltd, and Allotech Co.,Ltd
Orthopedic power tools are medical tools that are used to cut through bones during orthopedic surgeries. Orthopedic power tools are of different types such as battery operated, electrically operated and manual/hand drilling, reaming, and saw systems. Orthopedic power tools are used in orthopedic surgeries such as wound management through pulse lavage, used as drilling and reaming in long bone fractures using screws and intramedullary nails. These orthopedic power tools are easy to use and provide efficiency to healthcare professionals during surgical procedures.
The global orthopedic power tools market is expected to witness significant growth during the forecast period as key players are focusing on inorganic strategies such as mergers and acquisitions. For instance, in 2019, Medtronic Plc acquired Titan Spine, a medical device surface technology company. Under this acquisition Medtronic Plc acquired the complete product portfolio of Titan Spine and plans to develop the nano-lock surface technology of Titan Spine with orthopedic power technologies of Medtronic Plc.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.