The Global Orthopedic Power Tools Market, By Product Type (Large Bone Orthopedic Power Tools, Small Bone Orthopedic Power Tools, High Speed Orthopedic Power Tools, and Orthopedic Reamers), By Technology (Electric Powered Systems, Battery Operated Powered Systems, and Pneumatic Powered Systems), 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 projected to exhibit a CAGR of 3.5 % over the forecast period (2020 – 2027).

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

The following reasons are expected to drive growth of the global orthopedic power tools market over the forecast period. According to the National Osteoporosis Foundation, 2020, as the orthopedic doctors have been transferred for the treatment of coronavirus patients, there is lack of doctors for treating the orthopedic patients. According to the same source, people with autoimmune disorders such as rheumatoid arthritis have weak immune systems, thus, they are at higher risk of suffering from coronavirus infection.

According to the International Journal of the Care of the Injured, June 15, 2020, during the COVID-19 pandemic, many elderly patients suffered bone fractures due to injuries such as falls, slips etc. therefore, by increasing care of the elderly patients, will decrease the bone injuries, which will lead to decreasing hospital visits, thus decreasing contraction of coronavirus infection among the aged population.

Key players are involved in inorganic activities such as acquisition and collaborations in order to enhance their product portfolio and strengthen their position in the global market, which is expected to propel the global orthopedic power tools market growth. For instance, in 2019, DePuy Synthes, a subsidiary of Johnson & Johnson Medical Devices Company acquired JointPoint, Inc. for its surgeon-friendly JointPoint navigation software. The JointPoint Navigation Software guides surgeon with the implant selection and the positioning of the implant during the surgical process.

Increasing product launches is expected to spur the global orthopedic power tools market growth. For instance, in 2019, Stryker Corporation launched transformative visualization tools such as HipMap, HipCheck, Connected OR Hub, and the 1688 Advanced Imaging Modalities (AIM) 4K Visualization Platform, which is expected to increase the positive results for arthroscopy surgery.

Browse 33 Market Data Tables and 22 Figures spread through 144 Pages and in-depth TOC on The Global Orthopedic Power Tools Market, By Product Type (Large Bone Orthopedic Power Tools, Small Bone Orthopedic Power Tools, High Speed Orthopedic Power Tools, and Orthopedic Reamers), By Technology (Electric Powered Systems, Battery Operated Powered Systems, and Pneumatic Powered Systems), 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) - Global Forecast to 2027

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

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

Market players are collaborating with different organizations in order to provide virtual training to the orthopedic surgeons, thus increasing marketing of their products. In 2018, OSSO VR Inc., a virtual reality (VR) surgical training technology company, launched a virtual training feature in collaboration with multiple medical device manufacturers that allow multiple orthopedic doctors to train together in a single virtual space, which allows collaborative learning for surgeons and the surgical teams.

Key Takeaways of the Orthopedic Power Tools Market:

  • The global orthopedic power tools market is expected to exhibit a CAGR of 3.5 % over the forecast period (2020 – 2027), owing to growth in potential markets, especially in Asia Pacific and Latin America. North America accounted for major market share.
  • Increasing product usage in surgical operations is expected to spur the global orthopedic power tools market growth over the forecast period. For instance, in 2019, Power T Handle LLC, completed 500th surgery with the help of Power T Handle, an orthopedic power tool. According to the orthopedic surgeons, The Power T Handle reduces surgeon fatigue but increases surgical efficiencies. Thus, the equipment saves time of the surgeons.
  • Some of the major players operating in the orthopedic power tools market include De Soutter Medical Ltd, B. Braun Melsungen AG, AYGUN CO.,INC, Medtronic Plc., DePuy Synthes Companies (Johnson & Johnson), Zimmer Biomet, Stryker Corporation, Exactech, Inc., ERMIS MedTech GmbH, Nouvag AG, Medical Bees GmbH, iMEDICOM, Adeor medical AG, Shanghai Bojin Medical Instrument Co. Ltd, and AlloTech Co. LTD.
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