Orthopedic Power Tools Market

Global Orthopedic Power Tools Market Outlook (2022-2032)

The global orthopedic power tools market is estimated at USD 2.2 Billion in 2022 and is forecast to surpass USD 3.5 Billion by 2032, growing at a CAGR of 4.8% from 2022 to 2032.

The global orthopedic power tools market accounted for ~1% of the global surgical instruments market in 2021. The global orthopedic power tools market is estimated to have an absolute $ opportunity of USD 1.3 Billion during the forecast years of 2022-2032.

Report Attributes	Details
Base Year Value (2021A)	USD 2.1 Billion
Estimated Year Value (2022E)	USD 2.2 Billion
Projected Year Value (2032F)	USD 3.5 Billion
Global Growth Rate (2022-2032)	CAGR 4.8%
North America Market Share in 2021	~25%
North America Growth Rate (2022-2032)	CAGR ~5.3%
Collective Value Share (US, China, India) 2022: Top 3 Countries	~39%
Top 5 Companies Market Share in 2021	~19%
Key Companies Profiled	Misonix DePuy Synthes Medtronic Plc ConMed Corporation B Braun Melsungen AG Zimmer Biomet Johnson & Johnson Stryker Corporation De Soutter Medical AlloTech Co. Ltd. Other Market Players

2017-2021 Global Orthopedic Power Tools Market Outlook in Comparison to 2022-2032 Growth Forecast

Orthopedic power tools are used in treating birth-related disorders such as those related to musculoskeletal systems and aids in avoiding injuries caused by physical harm, thereby providing orthopedic support system. Orthopedic devices and tools are electrically operated devices that help in performing surgeries in less time with high precision to carry out actions such as drilling in surgical procedures and fixing implants. This is estimated to provide a gain of 230 BPS to the orthopedic power tools market in the coming years.

Escalating the volume of orthopedic procedures, technological advancements, rising ageing population, and operating supply standardization are some of the factors attributing to the growth of orthopedic power tools market. Moreover, the increasing number of sports-related injuries has augmented demand for technological innovations in orthopedic surgeries, thereby supporting market growth by 1.2X during the forecast years of 2022-2032.

Fact.MR projects the orthopedic power tools market is expected to witness exhibiting growth at 4.8% CAGR during 2022 and 2032 in comparison to a CAGR of 3.2% with which it grew from 2017 and 2021.

Escalating Adoption of Robotic Surgery to Support Market Growth

Various disorders such as spinal, neurosurgical and orthopedic diseases require minimally invasive surgeries, which in turn requires orthopedic power tools to carry out the orthopedic surgeries. These surgeries are carried out with minuscule incision, which lowers the risk of bleeding, and offers faster recovery due to shorter hospital stays. This is estimated to influence the demand for orthopedic power tools market and support market growth by 1.3X during the forecast years of 2022-2032.

Additionally, surgical robots with multiple arms are being incorporated into the healthcare sector as they offer high surgical efficiency and can also handle multiple equipment’s at the same time. Therefore, enhanced adoption of robotic surgery is likely to provide a gain of 195 BPS in coming years and hence support market growth.

Manufacturers Engaging in Safety and Ergonomics

The rising geriatric population worldwide has led to the increase in incidences and occurrences of orthopedic diseases. As these diseases require surgical intervention, modern electronic technologies such as power-assisted robots require minimal surgical equipment, leading to enhanced adoption of orthopedic power tools. This is estimated to support market demand by 1/4th or ~25% of current demand levels.

Manufacturers in the orthopedic power tools market are looking out for the safety of orthopedic power tools and their ergonomics. This is done to develop power-assisted equipment that is tailored as per the nature of the procedure that offers efficacy and safety of surgeons. The ongoing research and developmental activities associated with orthopedic power tools are focused on offering novel & efficient energy resources for powering tools for better convenience and modulation. Thus, an efficient offering is estimated to provide a gain of 310 BPS during the assessment period of 2022-2032.

Moreover, key players in the market are developing and launching advanced and innovative technology-based orthopedic power tools. This has not only created entry barriers for new players entering the market but has also developed an extremely competitive scenario for the key players to retain their position. This is likely to enhance sales of orthopedic power tools by 1.1X in the coming years.

High Procurement Cost of Devices to Restrict Market Growth

The maintenance costs of orthopedic power tools and devices, especially reusable devices, is high as compared to other devices available in the market. Therefore, the high procurement cost is estimated to restrain market growth by 0.7X during the assessment period of 2022-2032.

Region-wise Insights

Which region accounts for more enhanced demand for Orthopedic Power Tools Market?

North America orthopedic power tools market accounts for the largest market share of 24.8%.The escalating online presence of players with a strong distribution network coupled with well-established healthcare infrastructure is one of the key factors fueling the market growth. Moreover, the escalating number of incidents and amputations in the country are supporting market demand.

The rising amputations surgeries performed every day is aiding the enhanced need for orthopedic surgeons and in turn orthopedic power tools market. Additionally, the technological advancements associated with orthopedic surgeries in North America is to propel market demand and the region is projected to grow at a CAGR of 5.3% during the forecast years of 2022-2032. 

Europe is the next leading market for orthopedic power tools. European orthopedic power tools market acquire 23.1% of the overall market share. Owing to the increasing geriatric population and escalating demand for orthopedic procedures is estimated to support market growth in a positive direction in coming years.

What is the market scenario in East Asia and South Asia Orthopedic Power Tools Market?

East Asia and South Asia & Oceania orthopedic power tools market contributes 19.8% and 18.9% to the overall market share. And together they hold 38.7% of the overall market. The high growth is mainly attributed to the escalating orthopedic procedures in the region. Additionally, the region is lucrative for the key players to garner a wide consumer base and easy expansion of manufacturing capabilities is expected to propel market growth in the region in coming years.

Category-wise Insights

Which product type segment is expected to be the largest contributor in market share during the forecast period in Orthopedic Power Tools Market?

The product types of orthopedic power tools market are small bone power tools, large bone power tools, high-speed power tools etc. Amongst them, the large bone power tools account for the largest market share of 37.8%.

Large bone orthopedic power tools are one of the most sought products in orthopedic power tools market. This is basically attributed to their huge application in knee & hip reconstruction surgeries, trauma-related surgeries etc. Owing to their advantages, the large bone power tools segment is projected to grow at a CAGR of 5.2% during the assessment period of 2022-2032.

Which modality segment dominates the Orthopedic Power Tools Market during the assessment period of 2022-2032?

By modality, the orthopedic power tools market is segmented into single-use and reusable orthopedic power tools. The single-use orthopedic power tools account for 53.3% of the overall market share. Nowadays, consumers are opting for single-use or disposable orthopedic power tools rather than going for conventional reusable tools. This change in consumption is attributed to the prevention of risks of infection which are caused by reusing the same tools multiple times. Additionally, single-use tools are cost-effective and are pre-sterilized before delivery to hospitals. Owing to the above-listed factors, the sales are likely to expand and the segment is projected to grow at a CAGR of 5.3% during the forecast years of 2022-2032.

Competitive Landscape:

The global orthopedic power tools market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced orthopedic power tools.

Fact.MR has provided detailed information about price points of key manufacturers in orthopedic power tools market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

1. Medtronic Pvt. Ltd. in 2020 launched Sonicision curved jaw cordless ultrasonic dissection system, which is able to provide convenience and greater precision during orthopedic surgeries.
2. Zimmer Biomet Holdings Ltd. acquired A&E Medical Corporation in 2020. This acquisition will provide a complete product portfolio of sternal closure devices, which includes cable systems, sternal sutures, and rigid fixation coupled with other surgical products.

Global Orthopedic Power Tools Market by Category

• By Product Type:

  • Small Bone
  • Large Bone
  • High Speed

• By Modality:

  • Single Use
  • Reusable Power

• By Technology:

  • Pneumatic-powered Systems
  • Electric-powered Systems
  • Battery-powered Systems

• By End-User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Orthopedic Clinics

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA