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Orthopedic Power Tools Market Report- By Product Type(Large Bone, Small Bone, High-Speed Orthopedic Power Tools, Orthopedic Reamers, Accessories), By Technology Type( Electric-Corded & Battery Powered Tools, Pneumatic), By End Users, By Region
Orthopedic surgery is on a trail to less invasive and more accurate operations, with a larger proportion of outpatient and overnight procedures. This course is expected to continue and will be further assisted by new technologies, making surgery more selective and the orthopedic surgeon an increasingly proactive specialist in the management of injuries and conditions. Also with, high occurrence of osteoporosis and cumulative orthopedic surgeries are major factors propelling growth of the global orthopedic power tools market.
Further, technological advancements have also increased the adoption of orthopedic power tools and likely to grow at a significant pace during the forecast period. For instance, in March 2017, Stryker Corporation announced a range of instruments under the brand name System 8 Power Tool. These power tools are used for orthopedic applications and include innovative System 8 SABO sagittal saw and System 8 cordless drivers that offer enhanced accuracy and are more proficient. Moreover, orthopedic operations that incorporate robotics are less invasive and offer reproducible precision, subsequently shorter hospital stays and faster recovery times.
Major companies spending over robotics include Stryker, Zimmer Biomet, Mazor Robotics, Think Surgical, Smith & Nephew, OMNlife Science Inc., Intuitive Surgical and Verb Surgical. Zimmer Biomet, for example, added the ROSA robotic device used for brain and spine surgeries to its product portfolio through its acquisition of Medtech. Stryker acquired Mako Surgical Corp. for total knee construction and total hip replacement robotic products, and Smith & Nephew acquired Blue Belt Holdings for a robotic-assisted surgery product for partial knee replacements.
Orthopedic Power Tools Market Segmentation
By Product Type
Large Bone Orthopedic Power Tools
Small Bone Orthopedic Power Tools
High-Speed Orthopedic Power Tools
Accessories (Batteries, Chargers, Aseptic Transfer Kits etc.)
By Technology Type
Battery Powered Tools
By End Users
Ambulatory Surgical Centers (ASCS) & Clinics
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
Rest of Latin America
As per the analysis of global orthopedic power tools market conducted by Goldstein Research is projected to register a CAGR of 3.6% during the forecast period. In terms of value, the global orthopedic power tools market is anticipated to reach a market valuation in excess of USD 750.32 million by 2025 end.
North America Accounts for the Highest Share in Global Orthopedic power tools Market
The North America orthopedic power tools market accounted for the major revenue share at over 30% in 2017 followed by Europe. This is mostly attributed to upsurge in healthcare expenditure and large number of skilled healthcare professionals in North America. For instance, according to the National Health Expenditure Accounts, the annual U.S healthcare expenditure increased by 4.3% in 2016 as compared to 2015, accounting for USD 10,348 per U.S. citizen. The major percentage of the expenditure was dedicated towards development of surgical facilities and reimbursement policies. Further, demand for orthopedic power tools is predictable to upsurge owing to emergence of advanced technologies and the rise in orthopedic disorders.
Covered in this global orthopedic power tools market report
Our report also provide with qualitative information on the factors mentioned below:
Market Penetration: Statistics regarding the competitive arena of the orthopedic power tools market
Market Sizing: The projected market size in 2025 and estimation of the market from 2017 to 2025
Product Development/Innovation: Comprehensive insights on forthcoming technologies, R&D activities, and innovative product launches in the orthopedic power tools market
Market Overview: Market dynamics and consequent analysis of accompanying trends as well as opportunities, drivers and challenges existing in the orthopedic power tools market
Market Development: Complete information about rewarding markets – the study examines the market for drone logistics across various regions
Market Diversification: Thorough information about fresh products, untapped geographies, and investments in the orthopedic power tools market
Regional Analysis: Factors manipulating market shares of North America, Europe, Asia Pacific, and the Middle East
Competitive Assessment: Exhaustive valuation of business strategies, products, and manufacturing capabilities of important market players
The local regulatory reforms and improvement strategies along with the forecast are clarified in each key point that indicates the general execution and issues in key areas, for example, the US, Asia Pacific, Middle East and Europe.