The global “orthopedic power tools market” will derive growth from the high prevalence of orthopedic surgical procedures across the world. According to a report by Fortune Business Insights, titled “Orthopedic Power Tools Market Size, Share And Global Trend By Type (Small-Bone Orthopedic Power Tools, Large-Bone Orthopedic Power Tools, Others), By Technology (Pneumatic-Powered Systems, Electric-Powered Systems, Battery-Operated Systems), By End User (Hospitals, Orthopedic Clinics, Ambulatory Surgery Centers, Others), And Geography Forecast Till 2026,” the market will expand considerably in the coming years due to recent technological advancements in orthopedic treatment devices.
Recent technological advancements in orthopedic surgical drills have contributed to the demand of orthopedic power tools across the world. Resulting from the high demand, companies are more focused on the research and development of technologically advanced orthopedic power tools. Attractive products such as Stryker drill bits and Bosch orthopedic drills are among the leading products that have had a positive impact on the global market.
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North America is expected to account for the significant share in the global orthopedic power tools market, owing to increasing geriatric population, growing demand for minimally invasive procedures, and a rising number of orthopedic surgical procedures. Asia-Pacific and Latin America regions are expected to register comparatively higher CAGR over the forecast period, owing to growing awareness of advanced products and treatments for skeletal deformities in emerging countries, and an increasing number of orthopedic patients. Adoption of advanced techniques for treatment of orthopedic disorders is projected to propel in the use of the orthopedic power tools in the Asia Pacific and Latin America are expected to further increase the growth in global orthopedic power tools market during the forecast period.
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Recent technological advancements in orthopedic devices have enabled significant market growth. The report includes several technological advancements related to orthopedic devices and gauges their impact on the global market. The benefits of these technologically advanced devices such as time reduction, enhanced surgical procedures, and cost cutting will create a high demand for these products across the world. In March 2019, Stryker, one of the leading companies in the medical industry, announced the launch of a transformative tool to enhance surgical procedures related to arthroscopic disorders. Stryker announced the launch of HipCheck, HipMap, and 1688 AIM 4K Platform with the aim of betterment of orthopedic surgeries. Fortune Business Insights has predicted that product launches will have a positive impact on the global orthopedic power tools market. The report includes product advancements and launches, similar to Stryker’s latest products and gauges the impact of these advancements on the global market.
Increasing Mergers and Acquisitions to Favor Market Growth
The report identifies mergers and acquisitions as one of the leading factors that have contributed to the growth of the global market. Fortune Business Insights includes several attractive business strategies adopted by a few of the leading companies in the market. Fortune Business Insights has labelled M&A as one of the most widely adopted business strategy that has accounted for growth of the global market. In November 2018, Osso VR announced a partnership with the Pediatric Orthopedic Society of North America (POSNA). With this merger, the company plans to launch first ever VR-based training and guidance program, aimed at enhancing hip procedures. Osso plans to incorporate its virtual reality (VR) module in surgical procedures to better surgical efficacy of various orthopedic power tools. Fortune Business Insights has attributed mergers and acquisitions to the increase in the global orthopedic tool market revenue.
Besides growth drivers, Fortune Business Insights has profiled some of the leading companies that have contributed to the rising in the global orthopedic power tool market value in recent years. Some of the leading companies that are operating in the global orthopedic power tool market are CONMED Corporation, Medtronic, Stryker, Arthrex, Inc., Zimmer Biomet, Misonix, Aesculap, adeor medical AG, MedicMicro, OsteoMed, Brasseler USA, and Stars Medical.
- Key mergers and acquisitions
- Recent industry developments such as partnerships, mergers, and acquisitions
- Prevalence of orthopedic conditions for key countries
- New product introduction in the market
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Segmentation of the Global Orthopaedic Power Tools Market :
- Small-Bone Orthopedic Power Tools
- Large-Bone Orthopedic Power Tools
- Pneumatic-Powered Systems
- Electric-Powered Systems
- Battery-Operated Systems
By End User
- Orthopedic Clinics
- Ambulatory Surgery Centres
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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