The global orthopedic power tools market size was USD 1.60 Billion in 2022 and is expected to register a rapid revenue CAGR of 4.5% during the forecast period.
Report Scope of the Orthopedic Power Tools Market
|The market size value in 2022||USD 1.60 Billion|
|CAGR (2023 - 2032)||4.50%|
|The Revenue forecast in 2032||USD 2.48 Billion|
|Base year for estimation||2022|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Rising technological advancement of orthopedic power tools, increasing prevalence of spinal injuries and number of product launches, regulatory approvals for orthopedic power tools, and orthopedic procedures due to aging population are major factors driving market revenue growth. Modern operative orthopedics is strongly connected to utilization of power instruments. Orthopedic surgery has undergone a revolution owing to development of power instruments. Orthopedic power tools are lightweight and user friendly, as compared to conventional heavy orthopedic tools, which are easy to handle while performing orthopedic surgeries. These tools are categorized into three types, electric powered orthopedic tools, battery operated power systems, and pneumatic power tools. Surgeons are able to work quickly and precisely owing to these tools.
Power tools are now employed in multiple phases of orthopedic surgery, such as pulse lavage for wound care and drilling and reaming for placement of screws and intramedullary nails, in long bone fractures. Further improvements have been made to these tools to make them lighter for user convenience. These tools are becoming increasingly common to employ metal alloys that are thinner, lighter, and produce less heat when used repeatedly. Gadgets that are battery-operated and more ergonomic have replaced air-operated cabled devices. Modern power-assisted instruments function more consistently and are simpler to build, making them appropriate for both surgeons and support staff. In addition, these tools are being created to be modular to make maintenance and repair more affordable, which is driving market revenue growth.
Moreover, rising utilization of orthopedic power tool for various medical procedure is also expected to drive revenue growth of the market. Orthopedic is the branch of medicine that is categorized by both surgical and non-surgical equipment to cure musculoskeletal shocks, spine disorders, sports injuries, infections, tumors, and congenital disorders. Furthermore, increasing utilization of orthopedic power tools for medical procedures, such as drilling, reaming, sawing, and screwing, is driving market revenue growth. Primary fields of use for these technologies include orthopedic surgery, whether in humans or animals, neurology, Ear, Nose, Throat (ENT) surgery, and traumatology. With the help of this technology, surgeries are flawlessly efficient. These power tools are necessary for practically every element of orthopedic surgery. For instance, when treating lengthy bone fractures with screws and intramedullary nails, surgeons employ pulse lavage, drilling, and reaming.
Competitive landscape of the global orthopedic power tools market is consolidated with a few key players operating on global and regional levels. Key players are engaged in product development and strategic alliances to expand their respective product portfolios and gain a robust footing in the global market. Major players in the market include Abbott Laboratories, Arthrex, Inc., Brasseler USA, B. Braun SE, CONMED Corporation, OMNI Orthopaedics, Stryker, Smith+Nephew, THINK Surgical Inc., and Zimmer Biomet.
Orthopedic Power Tools Market Segmentations:
|By Product||By Technology||By Modality||By Application||By End-use|
Large Bone Orthopedic Power Tools
Small Bone Orthopedic Power Tools
High-Speed Bone Orthopedic Power Tools
Battery Operated-Powered Systems
Single Use Power Tools
Reusable Power Tools
Ambulatory Surgical Centers