Orthopedic Power Tools Market Size

Orthopedic Power Tools Market size is expected to cross USD 5 Billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of orthopedic power tools was over USD 2 Billion.The growth of the market can be attributed to the rising demand for orthopedic devices across the world, backed by the increasing prevalence of orthopedic impairment and related diseases, including muscular dystrophy, and Duchenne muscular dystrophy. For instance, the orthopedic device market was expected to reach a total value of USD 45 billion by 2022. Furthermore, if these diseases worsen over time, they can lead to degenerative disease and orthopedic limitation. Additionally, conditions that result in a gradual loss of muscle mass and increasing weakness are rising significantly among various age groups and are predicted to drive market growth.

In addition to these, the rising cases of bone fractures is predicted to fuel the market growth. A survey from the National Library of Medicine (NLM) showed that approximately 1.5 million people worldwide experience bone fractures as a result of a bone illness each year. Further, the increasing cases of bone fractures owing to falls, accidents, and trauma which require immediate surgeries are anticipated to propel the market growth over the upcoming years. It was noted that in 2021, around 33% of bone fractures resulted owing to trauma and around 21% on account of car accidents. Additional factors that are anticipated to drive the orthopedic power tools market expansion during the projected period include an increase in the number of product launches and regulatory approvals for orthopedic power tools that are precise, powerful, and accurate when performing significant orthopedic operations. For instance, Sonicision, a curved jaw cordless ultrasonic dissection device, was introduced by Medtronic Private Limited in September 2020. It offers surgeons performing orthopedic procedures better convenience and accuracy.

Frequently Asked Questions (FAQ)

Escalating prevalence of bone cancer and significant demand for orthopedic power tools in arthroplasty are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023-2035.

The higher possibility of surface contamination of the tool and increasing possibility of infection are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Stryker Corporation, CONMED Corporation, India Medtronic Private Limited, Zimmer Biomet, Inc., Kaiser Medical Technology Ltd, Johnson & Johnson Services, Inc., Allotech Co., Ltd, B. Braun SE, Medtronic PLC, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by power tools, product type, technology, application, end-user, and by region.

The hospitals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

Orthopedic Power Tools Market Size