Global Orthopedic Power Devices Market was valued at USD 1.11 billion in 2021, growing at a CAGR of 4.36% | Estimates DelveInsight
Global Orthopedic Power Devices Market was valued at USD 1.11 billion in 2021, growing at a CAGR of 4.36% during the forecast period from 2022 to 2027 to reach USD 1.44 billion by 2027. Factors such as increasing prevalence of degenerative bone disorders, rising aging population, rising number of trauma cases, and growth in the product innovation are stimulating the growth of the orthopedic power devices market positively.
Orthopedic Power Devices: An Overview
A surgical power tool or an orthopedic power device is an equipment which is used to perform surgery on bone or bone fragments. These tools help in sawing, drilling, screwing, and reaming.
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Recent Developmental Activities in Orthopedic Power Devices Market:
- In June 2021, Stryker received the 510k approval from the US Food and Drug Administration for their Stryker iBur hubs and cutting accessories which are intended to be used with the Stryker Core Consolidated Operating Room (CORE) Console and electric and pneumatic motors.
- In June 2021, Zethon Ltd received the 510k approval from the US Food and Drug Administration for their hekaDrill for use in the incisions, drilling, sawing of soft and hard bone tissue.
- In April 2021, adeor medical AG received the 510k approval from the US Food and Drug Administration for their Velocity Alpha High speed Surgical Drill System for rapid cutting, sawing, drilling and manipulation of soft tissue and bone.
Key Takeaways from the Orthopedic Power Devices Market Report Study
- Market size analysis for orthopedic power devices market size (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the orthopedic power devices market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the global orthopedic power devices market.
- Various opportunities available for the other competitor in the orthopedic power devices market space.
- What are the top performing segments in 2021? How these segments will perform in 2027?
- Which is the top-performing regions and countries in the current orthopedic power devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for orthopedic power devices market growth in the coming future?
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Orthopedic Power Devices Market
Orthopedic Power Devices Market By Type (Large-Bone Powered Devices and Small-Bone Powered Devices), By Product Type (Drills, Saws, Reamers, and Others), By Power Source (Pneumatic, Battery-Powered, and Electric), By Usability (Single-Use and Reusable), By End User (Hospitals, Ambulatory Surgical Centers, and Others), By Geography is expected to grow at a steady CAGR forecast till 2027 owing to increasing incidence of bone fractures and rising number of trauma cases.
Orthopedic Power Devices Market Dynamics
One of the main reasons behind the positive growth of the orthopedic power devices market is the rising number of cases of bone fractures among adults. As per the study published in the Lancet journal titled “Global, regional, and national burden of bone fractures in 204 countries and territories, 1990–2019: a systematic analysis from the Global Burden of Disease Study 2019” published in 2021 stated that in 2019, there were 178 million new fractures (an increase of 33.4% since 1990), 455 million prevalent cases of acute or long-term symptoms of a fracture (an increase of 70.1% since 1990), and 25.8 million YLDs (an increase of 65.3% since 1990). As per the above-mentioned source, in 2019, the lower leg fractures of the patella, tibia or fibula, or ankle were the most common and burdensome fractures worldwide. The increasing incidence rate of bone fractures can be attributed to the rising prevalence of degenerative bone disorders such as osteoporosis and spinal disc degeneration in adults particularly the elderly population. Thus, the demand for orthopedic power devices will also increase which will drive the mar.et growth during the forecast period.
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Orthopedic Power Devices Market Segment Analysis
- Orthopedic Power Devices Market by Type (Large-Bone Powered Devices and Small-Bone Powered Devices),
- Orthopedic Power Devices Market by Product Type (Drills, Saws, Reamers, and Others),
- Orthopedic Power Devices Market by Power Source (Pneumatic, Battery-Powered, and Electric),
- Orthopedic Power Devices Market by Usability (Single-Use and Reusable),
- Orthopedic Power Devices Market by End User (Hospitals, Ambulatory Surgical Centers, and Others), and
- Orthopedic Power Devices Market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
Orthopedic Power Devices Market is expected to dominate the North America
Among all the regions, North America is expected to amass the largest share of orthopedic power devices market. The growing number of orthopedic surgical procedures owing to the high prevalence of arthritis and other bone diseases, rising population of the elderly, increasing number of sports-related injuries well as better healthcare facilities and reimbursement programs coupled with the presence of major market players as well as higher investment in the research and development activities in the region are predicted to be the major influencing factors in driving the overall growth of the orthopedic power devices over the forecast period.
Orthopedic Power Devices Market Companies
Some of the key market players operating in the orthopedic power devices market includes Stryker, CONMED Corporation, Medtronic, DePuy Synthes (Medical Devices Business Services, Inc.), MicroAire Surgical Instruments, LLC, Zimmer Biomet, De Soutter Medical, adeor medical AG, Smith & Nephew, Arthrex Inc, Inc, Brasseler USA, Nouvag AG, AYGUN CO.,INC, iMEDICOM, Shanghai Bojin Medical Instrument Co.,Ltd, ORTHOPROMED, Allotech Co. Ltd., medical bees GmbH, MatOrtho Limited, NAKANISHI INC and others.
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Table of Content
1. Orthopedic Power Devices Market Report Introduction
2. Orthopedic Power Devices Market Executive Summary
3. Regulatory and Patent Analysis
4. Orthopedic Power Devices Market Key Factors Analysis
5. Orthopedic Power Devices Market Porter’s Five Forces Analysis
6. COVID-19 Impact Analysis on Orthopedic Power Devices Market
7. Orthopedic Power Devices Market Layout
8. Orthopedic Power Devices Market Global Company Share Analysis – Key 3-5 Companies
9. Orthopedic Power Devices Market Company and Product Profiles
11. KOL Views
12. DelveInsight Capabilities
14. About DelveInsight
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