Orthopedic Power Tools Market Analysis

Technology Segment Analysis

The global orthopedic power tools market is segmented and analyzed for demand and supply by technology into battery, electric, and pneumatic powered devices. Out of these, the battery powered devices segment is predicted to gain a largest market share during the forecast period. The growth of the segment can be attributed to the increasing demand for battery operated devices, supported by the rising investment by major manufacturers into this segment. In addition to this, the rising investment in research and development in the field of medical devices to make them more durable, power-efficient, and cost efficient is estimated to propel the market growth. For instance, in 2019, the entire amount spent on medical technology worldwide reached around USD 30 billion, while the sector's income reached approximately USD 450 billion.

End-user Segment Analysis

The global orthopedic power tools market is also segmented and analyzed for demand and supply by end-user into hospitals, clinics, and other specialty clinics. Among these, the hospitals segment is anticipated to capture significant market share during the forecast period. The growth of the segment can be attributed to the rising cases of bone related disease, growing geriatric population with disability who requires the fulltime assistance and generally admits in to hospitals. Moreover, increasing investment in the hospitals, rising healthcare expenditure, and the availability of the dedicated orthopedic section in the hospital are predicted to fuel the segment growth over the ensuing years. It was noted that spending on health care in the United States increased 2.7 percent in 2021 to USD 4.3 trillion, or USD 12,914 per person. Total expenditure on healthcare accounted for more than 18 percent of the region's GDP.

Our in-depth analysis of the global orthopedic power tools market includes the following segments: