Research Nester published a report titled “Orthopedic Power Tools Market: Global Demand Analysis Opportunity Outlook 2033” which delivers a detailed overview of the global orthopedic power tools market in terms of market segmentation by orthopedic power tools, product type, technology, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global orthopedic power tools market is projected to grow at a CAGR of ~4% by attaining substantial revenue during the forecast period, i.e., 2023 – 2033. Spiking cases of bone fractures are anticipated to propel the growth of the market during the forecast period. As of 2019, around 160 million new cases of bone fracture occurred. Additionally, increasing demand for orthopedic power tools in arthroplasty is further estimated to propel the market growth over the forecast period. Approximately 4000 new cases of bone and joint cancer are confirmed in 2022, additionally, 1 out of 100,000 people die each year owing to bone and joint cancer.
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Additionally, by technology, the global orthopedic power tools market is segmented into battery, electric, and pneumatic powered devices. Out of these sub-segments, the battery powered devices segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to convenient utilization and affordability. As of 2019, around 160 million new cases of bone fracture were reported worldwide.
Furthermore, the global orthopedic power tools market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of the rising prevalence of amputation due to several reasons. For instance, approximately 170,000 amputation procedures take place annually in the USA.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
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Increasing Prevalence of Bone Fracture to Foster the Growth of the Market
As of 2019, around 160 million new cases of bone fractures were confirmed.
Bone fractures are caused by several bone diseases and sports injuries and require constant medical care. Bone fractures are very discomforting and painful but they can be avoided and treated with the help of orthopedic power tools. Some examples of these devices are osteotomes, plate blenders, bone cutting forceps, Gigli saws, surgical spoons, suture anchors, and others. Therefore, such factors are anticipated to propel the growth of the market during the forecast period.
However, the requirement for higher initial investment and lack of requisite technology and skilled medical professionals is expected to operate as a key restraint to the growth of the global orthopedic power tools market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global orthopedic power tools market which includes company profiling of NSK/Nakanishi Inc., Stryker Corporation, CONMED Corporation, India Medtronic Private Limited, Zimmer Biomet, Inc., Kaiser Medical Technology Ltd, Johnson Johnson Services, Inc., Alltech Co., Ltd, B. Braun SE, Medtronic PLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global orthopedic power tools market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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