Global Orthopedic Power Devices Market -2023-2030

Global Orthopedic Power Devices Market -2023-2030

Global Orthopedic Power Devices Market reached US$ XX billion in 2022 and is expected to reach US$ XX billion by 2030, growing with a CAGR of XX% during the forecast period 2023-2030.

A wide variety of surgical instruments and equipment used in orthopedic procedures are included in the orthopedic power devices market. Devices used by orthopedic surgeons, such as drills, saws, reamers, screwdrivers, and other powered equipment, are included in this market. It represents a sizeable portion of the overall medical device market.

For cutting, fixing, and dissecting bone throughout a variety of procedures, orthopedic surgeons employ powered instruments and accessories as vital equipment. Bone saws are useful for procedures like arthroplasties, osteotomies, and joint replacements. Drill holes are frequently needed in fracture fixation to prepare the bone for implant implantation.

Dynamics

Increasing Benefits of Orthopedic Power Tools

Orthopedic surgeries are intricate operations that need accuracy and precision to be effective. Orthopedic surgical instruments have undergone major developments over time, including the creation of multifunction power tools. These instruments provide a variety of advantages, such as increased effectiveness, adaptability, and precision, lowering the possibility of complications during orthopedic surgeries.

Additionally, they provide a selection of ergonomic designs that lessen physician fatigue and discomfort during protracted operations, enhancing surgical outcomes in general. As a result of the increased accuracy and effectiveness of bone drilling and sawing when compared to manual hand tools, the use of power tools has become essential in orthopedic surgery.

For instance, The UNIUM power tool was made to be more dependable, effective, and comfortable to use for a better surgical experience and better results. Its intended applications include drilling, reaming, burring, screwing, tapping, sawing, and setting pins and cables in traumatology and orthopedic surgery.

Increasing Demand for Orthopedic Power Devices

An aging society is created as a result of the increase in life expectancy, and social demands are constantly rising. These demands put hospitals under more financial strain. Hospitals typically have surgical power tools in places with regular health systems, like Europe and America. Getting the most out of these technologies has become a priority for hospitals due to their high cost. The fundamental objective of surgeons is to do many surgeries in a fair amount of time.

To treat more patients, they must work effectively and affordably. With a device the surgeon can rely on, the patient can concentrate on a more precise alignment of the implant to be inserted without worrying about whether or not the system will malfunction. The primary function of surgical power tools is to make the surgeon's job easier while also carrying out any necessary cutting, drilling, and reaming operations.

High Cost of orthopedic power tools

The high cost of orthopedic power tools might put a strain on hospitals' and clinics' operating budgets. Healthcare organizations that are smaller or have tighter budgets could find it difficult to invest in pricey equipment, which might restrict the kind of surgical procedures they can do. The total cost of ownership, which takes into account maintenance, repair, and training expenditures, is important in addition to the initial purchase price.

Technological Challenges

The development, acceptance, and efficient use of orthopedic power instruments in healthcare settings may be impacted by technological constraints in the sector. These difficulties can be various, but they frequently have to do with the complexity of technology, problems with interoperability, and guaranteeing safety and efficacy. Orthopedic power tools have advanced features including digital interfaces, robotic help, and accurate feedback systems, and they are becoming more and more sophisticated.

For both manufacturers and users, managing the intricacy of these technologies can be difficult. It is essential that orthopedic power tools work with other pieces of technology and systems, including imaging tools, surgical navigation systems, and electronic health records. Using tools from many manufacturers can make it difficult to ensure smooth integration.



Segment Analysis

The global orthopedic power devices market is segmented based on type, technology, end-user and region.

The large bone orthopedic power tools segment accounted for approximately 37.8% of the market share

Power tools for large bones in the human body are specialized surgical instruments made to address the special needs of treatments requiring larger bones. These instruments are frequently used in orthopedic procedures for a variety of objectives, such as bone removal, joint rebuilding, and fracture fixation.

For instance, the Powered Instruments System by Hall Titan, The Hall Titan Series, from the brand that has been relied upon for more than 55 years, Hall Powered Instruments, is the next generation of strong, accurate, and dependable orthopedic power tools, refined for top performance. High torque and long-lasting power are delivered by strong Hall lithium batteries. The anti-vibration and variable speed control were built for regulated precision, and the ergonomic design and decreased weight offer the best user comfort.

Geographical Penetration

North America segment accounted for approximately 38.6% of the market share

North America has been a dominant force in the global orthopedic power devices market. Healthcare providers are investing in cutting-edge machinery because of ongoing improvements in orthopedic power tool technology, including better accuracy, ergonomics, and efficiency. This improves the efficiency of surgical procedures and improves patient outcomes.

In North America, the use of minimally invasive orthopedic surgeries is on the rise. These operations frequently call for specialized power instruments made for accuracy and minimally intrusive access. Patients gain from quicker postoperative pain recovery durations.

According to the Centers for Disease Control and Prevention, the number of hip replacements among persons 45 and older jumped from 138,700 to 310,800 throughout the first ten years of this century. Another report from the American Academy of Orthopaedic Surgeons reveals that more orthopedic procedures are anticipated to be conducted by the end of this decade, in addition to a projected decrease in the average age of joint replacement patients.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic in late 2019 created unprecedented challenges for industries worldwide, including the global orthopedic power devices market. Many healthcare facilities delayed or postponed elective surgeries in the early stages of the pandemic in order to prioritize COVID-19 patients and conserve resources. Since these equipments are predominantly utilized in elective orthopedic treatments, this had a major negative effect on the market for orthopedic power tools.

There was a move to minimally invasive orthopedic surgeries during the pandemic in order to minimise patient exposure and hospital stays. The demand for specialist orthopedic power tools created for these minimally invasive treatments was motivated by this trend.

Competitive Landscape

The major global players in the market include DePuy Synthes, Stryker, CONMED Corporation, Aygun Surgical Instruments, B Braun Melsungen AG, Medtronic PLC, Stars Medical Devices, Zimmer Biomet, Arthrex, Inc., and Smith+Nephew among others.

Why Purchase the Report?
• To visualize the global orthopedic power devices market segmentation based on type, technology, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of orthopedic power devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global orthopedic power devices market report would provide approximately 58 tables, 57 figures and 186 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies