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Global Orthopedic Power Tools Market, by Product Type (Large Bone Orthopedic Power tools, Small Bone Orthopedic Power tools, High Speed Bone Orthopedic Power tools, and Orthopedic Reamers), by Technology (Electric Powered Systems, Battery Operated Powered Systems, and Pneumatic Powered System), by End User (Orthopedic Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.

Key companies are focusing on product launches to strengthen their position in the global orthopedic power tools market. For instance, in 2017, Stryker Corporation, a medical device manufacturing company launched system 8 power tools with higher capacity battery cells with EZout powered acetabular revision, Ezout power gives precision and efficiency during the surgical procedures. The tools can be utilized in hip revision procedures by orthopedic surgeons with very high time efficiency.

Moreover, key companies focusing on product approvals to strengthen their position in the global orthopedic power tools market. For instance, in 2019, Smart Medical Devices Inc, received the U.S. Food Drug and Administration approval for SMARTdrill 6.0 in the U.S. The SMARTdrill 6.0, is an orthopedic surgical drill, which provides orthopedic surgeons efficient and very high precision during orthopedic surgeries.

Global Orthopedic Power Tools Market – Impact of Coronavirus (COVID-19)

  • The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global orthopedic power tools market in demand and supply of medical devices.
  • Moreover, the COVID-19 pandemic has affected the economy in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and 3) by its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, China, and the U.S. are disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of medical devices from one place to another
  • Furthermore, According to the journal of Clinical Orthopedics and Trauma published on May 2020, coronavirus affects the bones and joints of patients infected by coronavirus, therefore many orthopedic physicians have been deployed for survey of patients suffering from coronavirus and musculoskeletal trauma and other bone injuries. Thus, for the treatment of such patients, manufactures will focus on increasing manufacturing of power tools and to develop advance technologies for the surgical procedures such as spine surgery, hip surgery of patients.

Browse 33 Market Data Tables and 32 Figures spread through 175 Pages and in-depth TOC on “Global Orthopedic Power tools Market, by Product Type (Large Bone Orthopedic Power tools, Small Bone Orthopedic Power tools, High Speed Bone Orthopedic Power tools, and Orthopedic Reamers), by Technology (Electric Powered Systems, Battery Operated Powered Systems, and Pneumatic Powered System), by End User (Orthopedic Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the global orthopedic power tools market, click the link below:

https://www.coherentmarketinsights.com/market-insight/orthopedics-power-tools-market-1161

The market is expected to witness significant growth during the forecast period, as key companies are focusing on technological advancements in field of orthopedic power tools. For instance, in July 2020, Smith+Nephew, launched its next-gen Cori surgical system, received the 510k clearance from U.S. Food Drug and Administration, and is available for both total and unicompartmental knee arthroplasty. The handheld Cori robotics platform is meant to be faster and convenient for orthopedic surgical procedures.

Key Takeaways of the Global Orthopedic Power Tools Market:

  • The global orthopedic power tools market is expected to exhibit a CAGR of 3.50% during the forecast period, as key companies are focusing on product launches and product approval of orthopedic power tools in the market.
  • Among product type, large bone orthopedic power tools segment is estimated to hold major market share in 2020, owing to increasing prevalence of orthopedic disorders such as spine injuries, globally. According to World Health Organization Report Published in 2018, stated that approximately 500000 individuals suffer from spinal cord injuries globally.
  • Among technology, pneumatic powered systems segment is estimated to hold major market share in 2020, owing to its high safety and efficiency properties, while carrying out orthopedic surgeries.
  • Key players operating in the global orthopedic power tool 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
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