Orthopedic Power Tools Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.78 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Orthopedic Power Tools Market Analysis
The Orthopedic Power Tools Market is expected to grow at a registered CAGR of 3.78% during the forecast period.
Many hospitals and healthcare facilities postponed or cancelled elective orthopaedic surgeries to prioritise COVID-19 patients and conserve resources during the initial phase of the pandemic, which led to a decline in patient visits during the initial phase of the pandemic that affected the overall need for orthopaedic procedures, consequently impacting the market for orthopaedic power tools. For instance, according to the article published in Cureus Journal in August 2021, the number of orthopaedic surgeries fell by 22.8% during the first year of the pandemic. As per the same source, there was a 64% decline in knee arthroplasty procedures, 44% in knee ligament reconstruction, and 41% in hip arthroplasty procedures during the initial phase of the pandemic. However, with the decline in COVID-19 cases and ease in restrictions, orthopaedic procedures are increasing, so the demand for orthopaedic power tools is expected to increase in the post-pandemic period.
The major factors attributing to the growth of the orthopaedic power tools market are the increasing volume of orthopaedic procedures and the rise in the aging population. The increase in bone injuries is projected to accelerate the demand for various surgical interventions, such as spinal fusions, laminectomies, kyphoplasty, discectomy, and spinal decompressions, thereby driving the need for orthopaedic power tools. For instance, according to the article published by the NCBI in May 2022, approximately 500,000 people globally suffer from spinal cord injury (SCI) every year. As per the same source, every year, about 17,000 new cases of SCI are reported in the United States. Hence, the high number of spinal cord injuries will likely drive the demand for orthopaedic tools for precise bone preparation, implant placement, and efficient surgical outcomes. As spinal cord injuries continue to rise due to various factors, including accidents and medical conditions, the demand for orthopaedic power tools is expected to increase to support the growing need for spinal surgeries and rehabilitation. Furthermore, as the elderly population grows, the prevalence of orthopaedic conditions such as osteoarthritis, fractures, and degenerative disc diseases also rises owing to osteopenia, osteoporosis, and natural changes in bone quality. For instance, according to the data released by the WHO in October 2022, approximately 1 in 6 people in the world will be aged 60 years or over by the end of 2030. The same source mentioned that the global population of 60 and older would increase to 2.1 billion by 2050. Therefore, the demand for orthopaedic surgeries is expected to surge with the aging population seeking improved quality of life and increased mobility.
Moreover, the rising number of product launches by prominent players is also expected to drive market growth during the forecast period, as these launches introduce advanced technologies, innovative features, and improved surgical outcomes, attracting the attention of healthcare providers. For instance, in December 2021, Johnson & Johnson (DePuy) Synthes launched UNIUM System, an orthopaedic power tool for small bone, sports medicine, spine, and thorax procedures.
Hence, owing to the high burden of orthopaedic diseases, the growing geriatric population, and novel product launches, the market is expected to propel at a high growth rate during the forecast period. However, the high cost of orthopaedic devices is expected to be the major restraint for the market growth during the study period.
Orthopedic Power Tools Market Trends
Large Bone Power Tools Segment is Expected to Hold the Major Share of the Market Over the Forecast Period
Large bone power tools are specialised orthopaedic tools designed specifically for larger bone procedures, such as hips, femurs, and tibias. These tools include drills, saws, and reamers, engineered to handle large bones' size, density, and complexity. The large bone power tools segment holds a significant share of the orthopaedic power tools market. It is anticipated to sustain its dominance during the forecast period, owing to the increasing prevalence of accidents, sports injuries, and orthopaedic diseases.
The increase in road accidents and trauma cases led to several bone injuries, necessitating the availability of advanced large bone power tools, thereby augmenting the market growth. For instance, as per the report published by the Ministry of Road Transport and Highways of India (MoRTH) in December 2022, about 1,130 road accidents are reported daily in India. Hence, India's high frequency of road accidents is projected to drive the segment growth during the forecast period. In addition, injuries such as fractures, sports-related trauma, and accidents often require surgical intervention for proper treatment and recovery. For instance, as per the data released by the Bureau of Labor Statistics in December 2022, fatal work injuries increased by 8.9% to 5,190 in the United States in 2021. Hence, the rising number of injuries is projected to propel the demand for extensive bone power tools.
Furthermore, the prominent players are actively participating in launching innovative and technologically advanced large bone power tools, which are also projected to augment market growth during the forecast period. For instance, in August 2021, DynaMedic launched an effective bone power tool, the flagship model of electric handpieces. Thus, owing to the growing number of accidents and injuries, the launch of technologically advanced products is expected to fuel the orthopaedic power tools market during the forecast period.
North America Dominates the Market, and it is Expected to do same Over the Forecast Period
The geographical analysis of the orthopaedic power tools market shows that North America holds a significant market share in the global market owing to the presence of robust healthcare infrastructure, a high number of orthopaedic procedures, and the growing ageing population of the region. For instance, as per Statpearls update in August 2022, it was estimated that one in seven persons in the United States has wrist arthritis which stands for nearly 13.6% of the population in the country. The same source also reported that the prevalence of rheumatoid arthritis affecting the wrist is 2.5 million people in the United States. Such a high burden of wrist arthritis creates the need for wrist arthroplasty and thus propels the growth of orthopaedic power tools.
Furthermore, the rising research studies and government investment to expand and improve orthopaedic power tool offerings also contribute to the market growth. For instance, in September 2022, Grand River Hospital initiated a study designed to evaluate the use of intraoperative technology for patients undergoing hip replacement surgery. The government of Ontario has invested USD 1 million in this study. Intraoperative tools are innovative technologies used to increase the accuracy of hip implants. Such studies are expected to improve patient outcomes, efficiencies, and cost savings. Also, in April 2022, the Ontario government provided USD 300 million 2022 2023 for the Surgical Recovery Strategy to benefit thousands of Ontarians living with arthritis and waiting for their joint replacement surgery. Such government investment will support people undergoing surgeries to treat fractures caused due to arthritis, which is expected to boost the demand for orthopaedic power tools in the country.
Therefore, due to the high prevalence of arthritis and various government initiatives, the regional orthopaedics market is expected to grow significantly during the forecast period.
Orthopedic Power Tools Industry Overview
The orthopaedic tools market is fragmented, with the presence of a large number of players. Some key players in the global orthopaedic power tools market include ConMed Corporation, Medtronic PLC, Stryker Corporation, Zimmer Biomet, Johnson & Johnson (DePuy Synthes), and B Braun Melsungen AG, among others.
Orthopedic Power Tools Market Leaders
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ConMed Corporation
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Medtronic PLC
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Stryker Corporation
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Zimmer Biomet
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B Braun Melsungen AG
*Disclaimer: Major Players sorted in no particular order
Orthopedic Power Tools Market News
- In March 2023, Stryker Corporation launched CD NXT System in its power tool product offering. The system offers fast, consistent and accurate depth measurements across various orthopaedic procedures.
- In May 2022, CONMED Corporation acquired In2Bones Global Inc., involved in manufacturing orthopaedic power tool systems, implants, and fracture systems.
Orthopedic Power Tools Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Volume of Orthopedic Procedures
- 4.2.2 Rise in Aging Population Across the World
- 4.2.3 Technological Advancements
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4.3 Market Restraints
- 4.3.1 High Cost of Orthopedic Devices
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Large Bone Orthopedic Power Tools
- 5.1.2 Small Bone Orthopedic Power Tools
- 5.1.3 High-Speed Orthopedic Power Tools
- 5.1.4 Orthopedic Reamers
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5.2 By Technology
- 5.2.1 Pneumatic-powered Systems
- 5.2.2 Electric-powered Systems
- 5.2.3 Battery-powered Systems
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Arthrex
- 6.1.2 Aygun Surgical Instruments
- 6.1.3 B Braun Melsungen AG
- 6.1.4 Brasseler USA
- 6.1.5 Conmed Corporation
- 6.1.6 De Soutter Medical
- 6.1.7 Johnson & Johnson (DePuy Synthes)
- 6.1.8 Medtronic PLC
- 6.1.9 Micro Aire
- 6.1.10 MicroAire Surgical Instruments, LLC.
- 6.1.11 Acumed LLC (OsteoMed)
- 6.1.12 Stryker Corporation
- 6.1.13 Zimmer Biomet
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Orthopedic Power Tools Industry Segmentation
As per the scope of the report, the orthopaedic power tools encompass powered instruments and accessories used in reconstructive, sports medicine, and extremities treatments to cut, shape, fixate, and dissect bone as well as to fragment, emulsify, and aspirate soft tissue. The orthopaedic power tools market is Segmented by Type (Large Bone Orthopedic Power Tools, Small Bone Orthopedic Power Tools, High-speed Orthopedic Power Tools, and Orthopedic Reamers), Technology (Pneumatic-Powered Systems, Electric-powered Systems, and Battery-powered Systems), End User (Hospitals, Ambulatory Surgical Centers, and others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | Large Bone Orthopedic Power Tools | |
| Small Bone Orthopedic Power Tools | ||
| High-Speed Orthopedic Power Tools | ||
| Orthopedic Reamers | ||
| By Technology | Pneumatic-powered Systems | |
| Electric-powered Systems | ||
| Battery-powered Systems | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Orthopedic Power Tools Market Research FAQs
What is the current Global Orthopedic Power Tools Market size?
The Global Orthopedic Power Tools Market is projected to register a CAGR of 3.78% during the forecast period (2024-2029)
Who are the key players in Global Orthopedic Power Tools Market?
ConMed Corporation, Medtronic PLC, Stryker Corporation, Zimmer Biomet and B Braun Melsungen AG are the major companies operating in the Global Orthopedic Power Tools Market.
Which is the fastest growing region in Global Orthopedic Power Tools Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Orthopedic Power Tools Market?
In 2024, the North America accounts for the largest market share in Global Orthopedic Power Tools Market.
What years does this Global Orthopedic Power Tools Market cover?
The report covers the Global Orthopedic Power Tools Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Orthopedic Power Tools Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Orthopedic Power Tools Industry Report
Statistics for the 2024 Orthopedic Power Tools market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Orthopedic Power Tools analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
