Detailed insights into orthopedic power tools market

Power tools for orthopedic applications are used to treat skeletal and muscle issues. Broken bones, muscle tears, and other problems can all be helped by using these instruments. Doctors, physical therapists, and other healthcare workers can employ orthopedic power tools to assist patients in healing effectively. Orthopedic power tools are powered instruments that saw, drill or otherwise remove bone or other tissue during orthopedic surgery.

The market worth of orthopedic power tools in 2021 was USD 1.42 billion, and it will be worth USD 2.07 billion by 2030, growing at a 4.2% CAGR.

The growing need for orthopedic operations, technological improvements, an aging population, and standardization of operating supplies are a few reasons driving the orthopedic power tool market. Additionally, the rise in sports-related injuries has increased demand for technological advancements in orthopedic procedures, supporting market expansion.

Market Dynamics

Drivers

The increase in the elderly population, technological development, standardization of operating room supplies, rising volume of orthopedic surgeries, and growing competition that drives businesses to innovate are the main factors driving the orthopedic power tool market.

The need for orthopedic power tools has increased due to the growing number of sports-related injuries worldwide and technical developments in orthopedic surgery. The cost of servicing and maintenance and the disinfection issues related to the power tools can increase sales of orthopedic power tools, boosting market expansion.

Restraints

The increasing number of treatments significantly boosts demand for these devices. These gadgets, especially reusable ones, have substantial acquisition and maintenance costs, which limit their use in surgery.

Opportunity

The expanded use of these devices is made possible by the more recent applications for orthopedic power tools, which has driven market growth. To treat problems, orthopedic power tools are now employed in bone, soft tissue, tissue reconstruction, extremities, neurosurgery, spine, traumatology, ENT, sawing, and reaming. A study found that every year, over 500,000 Americans get surgery alone for lower spinal discomfort. With these numbers steadily rising, the variety of uses for orthopedic power instruments will skyrocket.

Market Segmentation

By product type, the orthopedic power tools market is segmented into accessories, handpieces, and disposables.

The Handpiece segment held the largest market share in 2020, with over USD 856 million in revenue by product type. Surgeons can drill, view, and ream with the same tool due to its versatility. These instruments allow for rapid attachment and release, as well as several attachments with a single handpiece. These devices have many functions, boosting consumer demand and market growth.

By type, the market is segmented into small-bone power tools, large bone power tools, medium bone power tools, and high speed power tools.

The large bone power tools sector held a maximum share of 44.11%. Large bone power tools are made specifically for large bone treatments such as intramedullary nailing, drilling, complete knee, and hip replacement, reaming, and driving screws. This category significantly rules the market for orthopedic power tools due to an increase in orthopedic disorders, accidents, and sports injuries.

On the basis of technology, the market is segmented into electric powered systems, pneumatic powered systems, and electric (battery powered) systems.

Electric (battery-powered) systems dominated the orthopedic power tool market in 2020. In contrast to electric (mains) powered power tools, surgical battery-powered electric equipment are available in cordless variants. Since surgeons and other medical professionals favor battery-powered tools more, this market sector is expanding.

On the basis of usage, the market is segmented into disposables and reusable.

The reusable category held the biggest market share in 2020. The availability of numerous accessories, including saw blades, drill bits, and batteries for these tools, the precision of surgical results, and surgeon preference are factors influencing the expansion of this market.

On the basis of end-user, the market is segmented into specialty clinics, hospitals & ambulatory surgical centers.

The hospitals and ambulatory surgery centers segment held the greatest market share in 2020. The segment is growing due to the rise in hospitals and ASCs, particularly in developing countries like China and India.

Regional Analysis

North America ruled the orthopedic power tool market in 2020 with the largest revenue share of USD 0.71 billion. As more operations and surgeries are carried out in the United States and Canada, there is a growing demand for power equipment among surgeons. This promotes the development of the market segment, suitable reimbursement regulations, and modern healthcare infrastructure. Total knee replacements occur roughly 700,000 times a year in the US, and total hip replacements are the most common total joint replacement surgeries (about 400,000 per year).

Key Players

• De Soutter Medical
• AlloTech Co. Ltd.
• Zimmer Biomet
• DePuy Synthes (a Johnson & Johnson Subsidiary)
• Stryker Corporation
• ConMed Corporation
• B. Braun Melsungen AC
• Kaiser Medical Technology
• Medtronic
• Peter Brasseler Holdings, LLC.
• Smith and Nephew PLC
• NSK/NAKANISHI
• Microaire Surgical Instruments, Inc.
• Aygün Surgical Instruments Co., Inc.
• Exactech, Inc.
• Medical Bees GmbH
• IMEDICOM Co. Ltd.
• NOUVAG AG
• ERMIS MedTech GmbH
• DynaMedic
• Arbutus Medical
• Bosch Healthcare Solutions
• Shanghai Bojin Medical Instrument Co., Ltd
• Adeor Medical AG
• Manman Manufacturing Company Private Limited