Orthopedic Power Tools Market Trends

Growth Drivers

• Growing Prevalence of Musculoskeletal Condition – Muscles, ligaments, tendons, and bones can all experience musculoskeletal pain. The wear and tear of everyday routines can harm muscle tissue. The prevalence of musculoskeletal disorders is rising as a result of sitting employment that disrupts body posture, injuries from auto accidents, and other factors, all of which are expected to have a positive impact on market growth. According to data issued by the World Health Organization (WHO), 1.71 billion persons worldwide have been diagnosed with musculoskeletal disease.
• Rising Cases of Bone Fractures – For instance, approximately 160 million new cases of bone fractures were observed across the globe in 2019. There can be several reasons for bone fracture and it takes a particular procedure the fix the broken bone. Bone fractures are very painful and discomforting but with the assistance of upgraded tools, the pain and discomfort can be avoided. Orthopedic power tools are highly used by orthopedics to fix bones. These devices are osteotomes, plate blenders, bone-cutting forceps, Gigli saws, surgical spoons, suture anchors, and others. Therefore, such a higher requirement is anticipated to hike the growth of orthopedic power tools market during the forecast period.
• Increasing Health Spending – With rising disposable income and growing awareness about orthopedic diseases people are willing to spend more on orthopedic surgeries and overall healthcare. According to the most recent expenditure data, global health spending has grown over the past 20 years, doubling in real terms and reaching around USD 8.5 trillion in 2019 and it is predicted that this boom would continue over the projected time period.
• Growing Incidences of Spinal Cord Injuries – It is expected that patients with chronic illnesses and disabilities, including spinal cord injuries, need to undergo spinal surgery more frequently and which is anticipated to drive the market growth. It was discovered that between 300,000 and 500,000 people worldwide experience spinal cord injuries every year.
• Escalating Prevalence of Bone Cancer – In 2022, there were around 4000 new cases of bone and joint cancer, and 1 in 100,000 people die from the disease each year. Bone cancer weakens the bone and if diagnosed at an early stage physician often recommend to go under orthopedic surgery and which in turn is estimated to drive the market growth.

Challenges

• High Risk of Contamination - The high risk of contamination owing to the chances of accumulation of bacteria on the surface of the tool which increase the possibility of infection and which can cause serious complications during and after the surgeries. Hence, this factor is predicted to hamper the market growth during the forecast period.
• Requirement for Higher Initial Investment
• Lack of Requisite Technology and Skilled Medical Professionals