Market Size – $ 1,368.9 Million in 2020, Market Growth – 3.7% CAGR, Market Trends – Technological Advances in Orthopedic Surgical Tools

NEW YORK, NY, UNITED STATES, Dec. 5, 2021 /EINPresswire.com/ – The global orthopedic power tools market size is expected to reach $ 1,835.8 million by 2028 at a CAGR of 3.7%, according to a new report from Reports and Data. The key factors contributing to the growth of market revenue are growing geriatric population, increasing prevalence of orthopedic disorders such as osteoarthritis and rheumatoid arthritis, increasing volumes of orthopedic surgeries, and increasing preference for procedures. minimally invasive surgical procedures. The increasing incidence of sports-related injuries and traffic accidents, technological advancements in orthopedic surgical techniques and the introduction of high-power, high-performance surgical tools such as pneumatic and electrical systems are just a few. the other major factors responsible for the growth of the global orthopedic power tools market.

Power tools used in orthopedic surgeries are advanced, high performance surgical equipment that typically includes orthopedic drills, electric neuro and spinal drills, surgical reamers, bone saws, staplers, electric surgical screwdrivers, and surgical robots. . These instruments are designed to simplify surgical procedures involving shaping, cutting and dissection of bone, or fragmentation or aspiration of soft tissue. Some of the key features of orthopedic power tools are high power and performance, light and rugged motor, precise control, low vibration, sterilization and superior reliability.

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The major companies operating in the market and featured in the report include:

ConMed Corporation, Medtronic, Stryker Inc., Arthrex, Zimmer Holdings Inc., DePuy Synthes, Misonix Inc., Aesculap, Adeor, Aygun Surgical Instruments, MedicMicro, B. Braun, OsteoMed, Brasseler USA and Stars Medical Devices.

Market Snapshot:

The pharmaceutical and healthcare industry has experienced rapid growth in terms of revenue over the past few years and is expected to register a robust CAGR during the forecast period of 2028. Factors such as the rapid advancements in the pharmaceutical industry and the health, the adoption of the latest technologies, tools and equipment, the emergence of various new diseases and the improvement of health facilities and infrastructure. In addition, rising healthcare spending, rising per capita income in developing countries, and favorable reimbursement policies are fueling market growth. Increasing funds from various public and private sectors and increasing investments to develop improved products and devices are also driving the market growth. In addition, the growing preference for outpatient and point-of-care services, and increasing funds for research centers and hospitals for drug discovery are expected to fuel the market growth in the future.

Competitive landscape:

The report provides details of the competitive landscape of the global Orthopedic Power Tools market focusing on each market player, their global position, revenue-generating product portfolio, company overview, financial planning and business expansion plans. The global orthopedic power tools market is quite competitive comprising various key players at the global as well as regional level. The major players are investing in research and development activities and developing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to improve their product base and strengthen their market position.

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Some highlights of the report:

• On the basis of product type, the large bone orthopedic power tools segment is expected to hold the largest market share in the global orthopedic power tools market during the forecast period. The increasing cases of sports injuries and traffic accidents, the increasing prevalence of orthopedic diseases and the increasing demand for minimally invasive surgical methods are driving the growth of this segment.

• On the basis of technology, the pneumatic systems segment is the most dominant and is expected to register the highest revenue growth rate of 3.8% in the global market over the forecast years. Factors contributing to the growth of this segment include the increasing use of pneumatic systems in orthopedic surgical procedures due to advantages such as high precision, high reliability and cost effectiveness.

• Among the major regional markets, North America leads in terms of revenue and is expected to show the fastest revenue growth during the forecast period. The presence of state-of-the-art healthcare infrastructure in the region, the growing number of physical injuries and accidents, the increase in amputation cases and the growing number of orthopedic surgeries are among the major factors fueling the growth of the North American market.

• Europe became the second regional market for orthopedic power tools in 2020, with a strong market share of 32.8%. The presence of highly skilled orthopedic surgeons in the region and the technological advancement in orthopedic surgical equipment are the major factors driving the growth of the market in Europe.

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For the purpose of this report, the global orthopedic power tools market is segmented on the basis of product type, technology type, modality, application, end use, and region:

Outlook Product Type (Revenue, USD Million; 2018-2028)

• Orthopedic power tools for large bones
• Orthopedic power tools for small bones
• High speed orthopedic power tools
• Single-use (disposable) power tools
• Orthopedic reamers
• Consumables

Technology Type Outlook (Revenue, USD Million; 2018-2028)

• Pneumatic systems
• Electrical systems
• Battery-powered systems
• Corded tools

Modality Outlook (Revenue, USD Million; 2018-2028)

• Single-use power tools
• Reusable power tools

Application Outlook (Revenue, USD Million; 2018-2028)

• Orthopedic
• ENT
• Oral
• Thoracic
• Neurology

End-Use Outlook (Revenue, USD Million; 2018-2028)

• Hospitals
• Outpatient surgical centers
• Orthopedic clinics
• Others

Regional perspectives:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, Italy, France, BENELUX, rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, rest of APAC)
• Latin America (Brazil, rest of LATAM)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, rest of the MEA)

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