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), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 829.63 million in 2016 and is projected to exhibit a CAGR of 3.3% over the forecast period (2017–2025).
Increasing applications in orthopedic surgical procedures and rising research and development activities for the production of efficient power tools are expected to be major factors driving growth of the global orthopedic power tools market over the forecast period. For instance, Zimmer Biomet increased its R&D expenses from 268.8 million in 2015 to 365.6 million in 2016. Increasing number of orthopedic surgical procedures are expected to propel growth of orthopedic power tools market. According to the World Bank, in 2012, the number of orthopedic surgeries (per 100,000 population), globally performed were around 4,511.
Moreover, according to Insurgical Inc. — a company based in the U.S. —specialty surgical power tools used for cutting and shaping bone is required in over 1.5 million orthopedic procedures, annually in the U.S. Orthopedic power tools are used for reducing manual errors, increasing turnaround time, and improve precision and accuracy of orthopedic surgeries. Powered orthopedic devices offer only the required rpm, torque, and other preset parameters required to perform the specific task. Furthermore, powered orthopedic tools are mainly used in joint reconstruction surgeries, small bone and large bone surgeries, and numerous minimally invasive surgical procedures. Orthopedic powered instruments are used for cutting, sawing, and drilling the bones for various procedures.
Browse 27 Market Data Tables and 35 Figures spread through 160 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 Orthopedic Power Tools, and Orthopedic Reamers), by Technology (Electric Powered Systems, Battery Operated Powered Systems and Pneumatic Powered Systems), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2025
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Market players are developing innovative tools to enhance its market share and acquire a substantial customer base. For instance, in October 2017, Portescap — a Switzerland-based precision motor solutions company — introduced surgical motor solution for large bone orthopedic hand tools. The brushless mini motor is available in different types such as 9.6V, 12V, and 14.4V with cannulated and non-cannulated options and can deliver torque up to 1,720 mNm. The product is suitable for several applications such as oscillating saws, sagittal saws, reciprocating saws, orthopedic drills and reamers. Moreover, in March 2016, the Smart Medical Devices, Inc. developed SMARTdrill — a powered surgical drill — to meet the drilling requirements of orthopedic surgeries and to decrease the turnaround time. The drill also offers real-time performance monitoring, screw pullout strength, instantaneous depth control, and depth measurement.
Key Takeaways of the Market:
Manufacturers are continuously launching innovative products and technology in power tools aiding in market growth. However, new entrants are also focusing on developing novel and efficient power tools in order to gain a competitive edge in the market. Key players operating the global orthopedic power tools market include Stryker Inc., Zimmer Holdings Inc., Misonix Inc., Arthrex, Aesculap, ConMed Corporation, DePuy Synthes, Brasseler, Medtronic, MedicMicro, B. Braun, OsteoMed, and Aygun Surgical Instruments.