Orthopedic power tools are instruments that can be use to shape bones during traumatology and arthroplasty. With the help of the instrument, bone and bone fragments can be control. The reaming, sawing, drilling, and screwing are make easier. It is primarily apply in neurology, traumatology, ENT surgery, and orthopedic procedures on humans and animals.
The global orthopedic power tools market in 2021 was valued at $1.42 billion, and it will reach $2.07 billion by 2030 with a CAGR of 4.2%.
In recent years, the use of orthopedic power tools has grown dramatically. Every year, approximately 750,000 arthroscopic knee surgeries can be perform in the US at the cost of approximately $3 billion.
Key Industry Drivers
- The prevalence of osteoarthritis, fractures, osteoporosis, and other orthopedic disorders has skyrocketed in recent years. It results in a large patient pool that requires surgery and treatment. According to the OSU University, of all musculoskeletal injuries, fractures account for 16% of all in the US each year. Every year, approximately 6.3 million fractures occur in the United States. Fractures cause approximately 900,000 hospitalizations each year. The increasing number of surgical procedures being conduct and perform around the world. It is driving the demand for power tools such as saws, drills, and others.
- The orthopedic power tools save time during surgery compared to traditional, manual tools. It can drives power tool demand and positively shifts the orthopedic power tools market trends. According to one study, manual instruments take approximately 5.4 minutes, while power tools take approximately 3.4 minutes to insert a pedicle screw.
The increasing number of procedures is one major factor driving up demand for these devices. However, the high acquisition and maintenance costs of these devices, particularly reusable devices, limit their use in surgery. According to a recent article by the National Center for Biotechnological Information, the cost of acquiring a single reusable battery drill ranges between $6000 and $7000. The high cost of orthopedic power tools drives surgeons to seek alternative tools, hampering the market growth.
Surgical power tool technological advancements drive demand and market growth. Because of the increased demand for orthopedic surgery, tools such as heavy-duty attachments, footed attachments, resurfacing tools, irrigation sleeves, elite attachments, and the autoclavable orthopedic drill assist physicians in performing better and faster surgery. According to a study, approximately 7 million orthopedic surgeries are perform annually in the United States. The majority of these procedures are for knee and hip replacement. As per the Agency for Healthcare Research and Quality, over 450,000 hip replacement surgeries are perform in the United States each year.
The newer applications for orthopedic power tools contribute to greater use of these devices, boosting the market growth. Orthopedic power tools can now be used in tissue reconstruction, extremities, neurosurgery, spine, traumatology, bone, soft tissue, ENT, Sawing, and Reaming, greatly assisting surgeons and patients worldwide in the treatment of their conditions.
- With a market share of 44.11%, the large bone power tools segment is expected to grow the fastest during the forecast period. Large bone power tools are purpose-built for large bone procedures such as total knee replacement, hip replacement, reaming, intramedullary nailing, drilling, and screw driving. Due to an increase in sports injuries, accidents, sports injuries, and orthopedic disorders, the segment has a large orthopedic power tools market share.
- The handpiece sector in 2020 accounted for USD 856 million and had the highest market share based on product type. Because of its adaptability, surgeons can see, drill, and ream with the same device. These devices have many features that drive their demand and market growth.
- The reusable category had the largest market share in 2020. The dominance is attributed to precise surgical outcomes, the availability of various accessories such as drill bits, saw blades, and batteries for these instruments, and the choice of surgeon.
- Based on end-user, hospitals and ambulatory surgical centers had the largest market share in 2020. The growing number of hospitals and ambulatory surgery centers, particularly in emerging markets such as China and India, contributes to the segment’s expansion. According to one study, the number of hospitals in India increased from around 25,000 in 2013 to 69,000 in 2021, while the number of hospitals in China increased from around 25,000 in 2013 to around 35,000 in 2020, according to the National Bureau of Statistics.
- Asia Pacific is expected to grow at a faster CAGR during the forecast period, owing to an increase in the number of patients with orthopedic problems and an increase in medical tourism. According to one study, the number of medical tourists visiting India increased from around 200,000 in 2020 to 56 million in 2022.
- B. Braun Melsungen AC
- Smith and Nephew PLC
- Stryker Corporation
- ConMed Corporation
- Zimmer Biomet
- Kaiser Medical Technology
- Peter Brasseler Holdings, LLC.
- Exatech, Inc.
- Bosch Healthcare Solutions
- Medical Bees GmbH
- Other Players