Global Orthopedic Power Tools Market 2023-2030

Global Orthopedic Power Tools Market 2023-2030

Global Orthopedic Power Tools Market Size, Share & Trends Analysis Report by Types (Large Bone Orthopedic Power Tools, Small Bone Orthopedic Power Tools, High-Speed Orthopedic Power Tools, and Orthopedic Reamers), and by Technology (Pneumatic-Powered Systems, Electric-Powered Systems, and Battery-Powered Systems) Forecast Period (2023-2030)

The global orthopedic power tools market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The growth of the market is attributed to factors such as the increasing prevalence of orthopedic conditions, a rise in the number of orthopedic surgeries, advancements in technology, and the growing geriatric population. Further, factors such as the demand for minimally invasive procedures, the adoption of robotic-assisted surgeries, and the availability of specialized power tools for different orthopedic applications are expected to fuel the demand for orthopedic power tools.

The increasing adoption of robotic-assisted surgeries demands the development of new robotic orthopedic tools in the market. These tools help to save time during surgical procedures, enabling surgeons to perform tasks more efficiently and effectively. The time saved benefits both patients and the healthcare system, resulting in improved access to specialized care and faster recovery times. The growing demand for these tools is driving innovation in the field, leading to further advancements in robotic-assisted orthopedic surgery. For instance, in November 2022, Tuoshou is a new orthopedic surgical robot tools developed for positioning and navigation in spinal surgeries. It has advantages in safety, accuracy, less radiation, and a shorter learning curve compared to existing robots. In clinical trials, Tuoshou was found to have better pedicle screw insertion accuracy and entry point deviation than the TiRobot.

Segmental Outlook

The global orthopedic power tools market is segmented based on its types and technology. Based on types, the market is segmented into large bone orthopedic power tools, small bone orthopedic power tools, high-speed orthopedic power tools, and orthopedic reamers. Based on technology, the market is categorized into pneumatic-powered systems, electric-powered systems, and battery-powered systems. Among types, large bone orthopedic power tools account for a significant market share, primarily driven by the increasing number of joint replacement surgeries and trauma cases requiring precise and powerful tools for bone fixation and cutting. However, small bone orthopedic power tools are anticipated to witness significant growth during the forecast period, owing to the rising demand for hand and foot surgeries and the advancements in miniaturized power tools.

Electric-Powered Systems to Hold a Prominent Market Share of Orthopedic Power Tools Market

Electric-powered systems hold a prominent market share due to their versatility, precision, and ease of use. Their widespread adoption can be attributed to their versatility, allowing for multiple surgical applications, precise control over speed and torque, and user-friendly features. Electric-powered systems offer surgeons enhanced maneuverability, ergonomic designs, and advanced functionalities, contributing to improved surgical outcomes and patient safety. These factors have led to their preference and significant market presence in the orthopedic power tools segment. For instance, in November 2021, Johnson & Johnson subsidiary, DePuy Synthes, launched UNIUM orthopedic electric power drill tool. According to DePuy Synthes, this power tool is created to satisfy the needs of surgeons and staff by allowing them to carry out orthopedic surgery procedures more effectively.

Regional Outlooks

The global orthopedic power tools market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, the European market is anticipated to experience a prominent growth over the forecast period, driven by factors such as the high prevalence of orthopedic conditions, increasing investments in healthcare infrastructure, and a surge in the aging population. However, the Asia-Pacific region is projected to witness a considerable growth in the orthopedic power tools market due to the rising healthcare expenditure, improving healthcare facilities, and a growing patient population.

Global Orthopedic Power Tools Market Growth by Region 2023-2030

Source: OMR Analysis

North America is Anticipated to Hold a Significant Share in the Global Orthopedic Power Tools Market

Among all the regions, North America is anticipated to account for a significant share in the orthopedic power tools market during the forecast period. The regional market growth is primarily driven by factors such as the high prevalence of orthopedic disorders, well-established healthcare infrastructure, technological advancements, and the presence of major market players such as Stryker Corp., ConMed Corp., and others. These market players are considerably contributing to the market growth by adopting various strategies such as collaboration, acquisition, and others to stay competitive in the market. For instance, in May 2022, ConMed Corp. acquired In2Bones Global, Inc. for approximately $245 million. ConMed believes that procuring In2Bones Global would enhance its position in the orthopedics market globally.

Market Players Outlook

The major companies serving the global orthopedic power tools market include Stryker, Medtronic Inc., Johnson & Johnson Services, Inc., Zimmer Biomet, and B. Braun., among others. These market players are considerably contributing to the market growth by adopting various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, Zimmer Biomet acquired Embody, Inc. for approximately $280 million. The acquisition aimed at strengthening Zimmer Biomet's brand presence in the orthopedic devices market.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global orthopedic power tools market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.