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2020-09-01
734
Global
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.
By Product Type
By Technology Type
By End Users
By Region
As per the analysis of global orthopedic power tools market conducted by Goldstein Market Intelligence is projected to register a CAGR of 3.6% during the forecast period 2017-2030.
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.
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Impact of COVID-19 Outbreak on “Global Orthopedic Surgical Power Tools Market ”, Manufacturers, Contract Manufacturers Suppliers and Recovery Strategy. A complete detailed chapter of 50-70 pages which includes the data and information focused on impacts of the pandemic on the Global Orthopedic Surgical Power Tools Market . It also showcases the expected recovery schedule and losses in the industry and other various major factors.
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