Market Overview:

The Orthopedic Power Tools Market size is estimated to reach $2.0 Billion by 2030, growing at a CAGR of 3.8% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Orthopedic Power Tools Market – By Type (Drills, Saws, Reamers, Screwdrivers and Others), By Technology (Pneumatic powered systems, Electric powered systems, Battery powered systems and Others), By Usage (Reusable and Disposable), By Application (Joint Replacement, Fractures, Spine Surgery, Bone reconstruction and Others) By End User (Hospitals & Ambulatory Surgical Centres and Speciality Clinics), By Geography - Opportunity Analysis & Industry Forecast, 2024-2030”.

The increasing prevalence of   degenerative joint disorders in older population is boosting the need for orthopedic power tools, global rise in sport injuries and trauma surgeries are fueling the growth the Orthopedic Power Tools industry during the forecast period. 

North America Dominated the Market in 2023:

North America accounted for the largest share of 36% of the Orthopedic Power Tools Market in 2023. The rapid advancement of medical technology and infrastructure in North America is significantly driving the growth of the orthopedic power tools market. Treatments for orthopedic conditions are becoming more accurate, effective, and minimally invasive because of the development of advanced instruments and methods like robotic-assisted surgeries and minimally invasive surgeries (MIS). For instance, in September 2024, LHSC became the first hospital in Canada and one of only half a dozen institutions in the world to have all four major hip and knee replacement surgical robots on site. London Health Sciences Centre (LHSC) is home to one of the largest surgical fellowship programs in Canada for hip and knee replacements and sees some of the highest clinical volumes. Orthopedic surgeons continue to learn how to use these tools to optimize outcomes, such as earlier discharge from the hospital or better implant positioning. 

Orthopedic Power Tools Market: Key Takeaways 

Increasing prevalence of various orthopedic diseases 

Increasing prevalence of various orthopedic diseases and injuries are propelling the demand for orthopedic power tools market. With rise in aging population and with increase in sports related injuries, orthopedic surgeries are increasing globally. As the number of people with orthopedic related issues are increasing, the demand for modern and advanced orthopedic power tools are increasing globally. Additionally, health issues like rising obesity rates put strain on joints and increase the risk of conditions like osteoarthritis. For instance, The American Academy of Orthopaedic Surgeons (AAOS) estimates that by 2030, over 7.7 million total knee replacements and 3.8 million total hip replacements will be performed annually in the United States alone. Such trends are fueling the demand for orthopedic procedures globally. 

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Growth in Medical Tourism 

Growth in medical tourism is driving the growth of the Orthopedic Power Tools market globally. Medical tourism is a term used to describe the rapidly-growing practice of travelling across international borders to seek healthcare services. Services typically sought by travelers include elective procedures as well as complex surgeries, etc. with the main aim of reducing prices as healthcare is expensive in developed nations. According to ClincSpots Holistic Healthcare, a knee replacement, which exceeds $30,000 in the US can be done for around $7,000 in India (a 76% cost reduction). Advanced orthopedic procedures, including robotic-assisted and minimally invasive surgeries, are frequently the focus of medical tourism destinations. Advanced power tools are essential to the accuracy and effectiveness of these complex methods. Essentially, the expansion of orthopedic medical tourism promotes cost-effectiveness, innovative technology and patient care. The need for orthopedic power tools is fueled by this impact which propels market expansion and innovation.

Scope of the Report: 

Report Metric

Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

3.8%

Market Size in 2030

$2.0 Billion

Segments Covered

By Type, By Technology, By Usage, By Application, By End User and By Geography.





Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).




Key Market Players

1.      CONMED Corporation

2.      Medtronic

3.      Stryker Corporation

4.      Zimmer Biomet

5.      B Braun Melsungen AG

6.      Johnson & Johnson

7.      Arthrex

8.      Smith & Nephew

9.      Kaiser Medical Technology Ltd

10.  NKS / Nakanishi inc.



Recent Developments:
 
• In September 2024, Arthrex announced the release of OrthoPedia Patient, an interactive digital platform that provides patients with access to easy-to-understand videos covering a comprehensive range of orthopedic conditions and treatments.  

• In August 2024, Johnson & Johnson MedTech announced that DePuy Synthes, launched a proprietary dual-use robotics and standalone navigation platform developed in collaboration with eCential Robotics. The system, called the VELYS™ Active Robotic-Assisted System (VELYS™ SPINE), received 510(k) clearance from the U.S. Food and Drug Administration (FDA) and is intended for use in planning and instrumenting spinal fusion procedures in the cervical, thoracolumbar and sacroiliac spine.  

• In January 2024, Paragon 28, Inc. announced the launch of the FJ2000 Power Console and Burr System, a cutting-edge solution for modernizing foot and ankle surgery. Designed for both minimally invasive and open procedures, the system enhances operating room efficiency, reduces costs, and improves patient outcomes.

Orthopedic Power Tools Market: Competitive Landscape 

Key companies profiled in the Orthopedic Power Tools Market are CONMED Corporation, Medtronic, Stryker Corporation, Zimmer Biomet, B Braun Melsungen AG, Johnson & Johnson and Others. 

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