Orthopedic Power Tools Market Size Worth USD 2.05 Billion by 2030 Growing at a CAGR of 4.1% during the forecast period 2023-2030, Contrive Datum Insights

According to a market research study published by Contrive Datum Insights, Due to rising health care costs in the U.S., North America has the largest share of the market

Farmington, Feb. 19, 2023 (GLOBE NEWSWIRE) — The Global Orthopedic Power Tools Market Was Valued At USD 1.54 Billion In 2022 And Is Projected To Reach USD 2.05 Billion By 2030, At A CAGR Of 4.1% From 2023 To 2030. Orthopedic power tools are used to shape bone during procedures like arthroplasty (total knee replacement, total hip replacement, etc.) and traumatology. This tool is used to cut and repair bones and bone fragments during surgery. It makes it easier to reamer, saw, drill, and drive screws. It is mostly used in orthopaedic surgery on humans and animals, as well as in neurology, traumatology, and ENT surgery. In recent years, the number of people who use orthopaedic power tools has grown very quickly. Orthopedic power tools are tools that are used to shape bones during arthroplasty (total knee replacement, total hip replacement, etc.) and traumatology.

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This tool is used to cut and repair bones and bone fragments during surgery. It makes it easier to reamer, saw, drill, and drive screws. It is mostly used in orthopaedic surgery on humans and animals, as well as in neurology, traumatology, and ENT surgery. In the past few years, the number of people who use orthopaedic power tools has grown quickly. In the United States, about 750,000 knee arthroscopies are done every year at a cost of about $3 billion each year. The average age of people who had arthroscopic knee surgery was 54.8 years, and about 49.2% of the people who had the surgery were women.

Orthopedic Power Tools Market Recent Developments:

• In November 2020 – Stryker announced the acquisition of Wright Medical Group N.V. to expand the product portfolio of its trauma and extremities businesses.

• In May 2021 – Arbutus Medical launches the SteriTrak Surgical Drill in the US and Canadian markets, designed to perform effective bony distraction procedures, especially in trauma centers.

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Orthopedic Power Tools Market Dynamics

Market Drivers:

Osteoarthritis, osteoporosis, broken bones, and other orthopaedic problems have become much more common in recent years. When these things come together, they cause a lot of people to need treatment and surgery. The Ohio State University says that 16% of all injuries to the muscles and bones in the United States each year are fractured. Every year, about 6.3 million fractures happen in the United States. Every year, broken bones send about 900,000 people to the hospital. More and more surgeries are being done around the world, which is driving up the need for power tools like drills, saws, etc.

Market Restraints:

The rise in the number of programmes is a big reason why people want these devices more. But these devices are expensive to buy and keep up with, especially the ones that can be used more than once. This makes them hard to use in surgery. A recent article from the National Center for Biotechnology Information says that it costs between $6,000 and $7,000 to buy a reusable battery drill. Because orthopaedic power tools are so expensive, surgeons are looking for alternatives, which slows the growth of the market.

Market Opportunity:

Surgical power tools are becoming more popular and the market is growing because technology is getting better. Because there are more orthopaedic procedures being done, doctors need tools like remodelling tools, irrigation sleeves, heavy-duty attachments, foot attachments, elite attachments, and orthopaedic drills that can be sterilised. These tools help doctors do procedures better and faster. One study says that about 7 million orthopaedic procedures are done each year in the United States. Most of these procedures are done when a knee or hip needs to be replaced. The Agency for Healthcare Research and Quality says that each year in the United States, more than 450,000 hip replacements are done.

Regional Outlook:

Due to rising health care costs in the U.S., North America has the largest share of the market that was looked at. Some of the main things that are driving the growth of the market are the direct presence of major regional players, a strong distribution network, and a well-established healthcare infrastructure. The North American orthopaedic power tools market is also likely to be driven by the rising number of accidents and amputations in the country. The Access Prosthetics Blog says that in 2017, there were 2.1 million people in the country who had lost a limb, and that number is expected to double by 2050. Every year, 185,000 people need to have a limb cut off. This means that between 300 and 500 limbs are cut off every day. The growth of the U.S. is also helped by the fact that there are many highly skilled orthopaedic surgeons in the country.

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Scope of Report:

Orthopedic Power Tools Market Key Segments Covered:

Top Market Players:
DePuy Synthes, Arthrex, Johnson & Johnson, Stryker, B. Braun, Medtronic, Smith & Nephew, Zimmer Biomet, ConMed, OsteoMed, Brasseler USA, MicroAire, De Soutter Medical, Adeor, and Others.

By Type

• Instruments

  • Surgical Drills

  • Saws

  • Others

• Accessories

By Technology

• Electric Powered Device

• Pneumatic Powered Device

• Battery Powered Device

By Applications:

By End-user

• Hospitals & ASCs

• Specialty Clinics

Regions and Countries Covered

• North America: (US, Canada, Mexico, Rest of North America)

• Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

• Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

• The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

• Latin America: (Brazil, Argentina, Rest of Latin America)

• Rest Of the World

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