Orthopedic Power Tools Market - Forecast(2024 - 2030)

Orthopedic Power Tools Market Overview:

The Orthopedic Power Tools Market size is estimated to reach $2.0 Billion by 2030, growing at a CAGR of 3.8% during the forecast period 2024-2030. The Orthopedic Power Tools market is witnessing robust growth due to the rising prevalence of orthopedic injuries and diseases, coupled with an aging population. Additionally, the increased number of sports injuries is also a primary factor driving the growth of the orthopedic power tool market. The increased number of surgeries due to rise in number of road accidents globally are driving the demand for orthopedic power tools globally.  
A recent trend in orthopedic power tools is Robotic-assisted orthopedic surgery (RAOS). Orthopedic surgery is undergoing a transformation because of robotic assistance which promises better patient outcomes and greater accuracy and precision. According to the American Academy of Orthopaedic Surgeons, more than 7,00,000 total knee replacements are performed annually in the U.S. Total knee replacements performed with the help of a surgical robot have better outcomes on average than similar surgeries performed manually. Additionally, wearable technology and smart implants are the emerging trends in orthopedics. These devices have sensors that can track implant performance, load distribution, and patient movement. Surgeons can maximize rehabilitation, assess postoperative progress, and personalize treatment plans to each patient with the use of real-time data gathered from these devices. As the need for orthopedic surgeries continues to grow, the orthopedic power tools market is anticipated to experience significant global growth during the forecast period. 

Market Snapshot: 

Orthopedic Power Tools Market - Report Coverage:

The “Orthopedic Power Tools Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Orthopedic Power Tools Market.

COVID-19 / Ukraine Crisis - Impact Analysis:  

•    The COVID-19 pandemic led to a significant reduction in the total hospital volume, both outpatient and inpatient facility. Many orthopedic surgeries were postponed during the pandemic and importance was given to COVID-19 patients, leading to decrease in demand for orthopedic power tools. The pandemic led to disruptions in global supply chains affecting the production and distribution of orthopedic power tools and their components. 
•    The Ukraine crisis has exacerbated global Orthopedic Power Tools market resulting in production and delivery delays as a result of the war. This has led to shortages and higher expenses for medical instruments. As healthcare spending took a backseat due to focus on defense spending the ukraine crisis also impacted the ability of healthcare facilities to invest in new equipment. 

Key Takeaways: 

North America is Leading the Market 

North America region held a major market share in 2023. High prevalence of orthopedic diseases, advanced healthcare infrastructure and technological advancements in orthopedic procedures are driving the market growth in this region. For instance, according Centers for Disease Control and Prevention, Osteoarthritis is believed to affect about 33 million U.S. adults in 2024. Such diseases lead to a greater demand for orthopedic surgeries and associated power tools. Additionally, the rapidly aging US population is leading to increased prevalence of diseases like osteoarthritis and rheumatoid arthritis among older adults. For instance, The United States Census Bureau reports that in 2023, the population aged 65 and older in the United States was nearly 18%. 

Joint Replacement is the Largest Segment 

Joint replacement surgeries held the major market share in the Orthopedic Power Tools market globally. For instance, The American Joint Replacement Registry (AJRR) surpassed 4 million hip and knee arthroplasty procedures in its database in March 2024, a milestone announced in the 11th edition of its Annual Report released in November 2024. Published by the American Academy of Orthopaedic Surgeons (AAOS) Registry Program, the 2024 report analyzes more than 3.7 million of those procedures and reflects data submitted between 2012-2023 from 1,447 institutions across all 50 states and the District of Columbia. It marks an 18% growth in procedures from the previous year. Millions of joint replacement surgeries are carried out each year, making them one of the most prevalent orthopedic procedures in the world. The orthopedic for power tools used for several phases of the procedure, from implant insertion to bone cutting and shaping, which is propelling the growth of Orthopedic Power Tools market glonally. 

Battery Powered Systems are the Largest Segment

Battery powered systems held a major market share in 2023. Battery powered systems growth is attributed to the rising popularity of cordless power tools because of their portability and convenience. Rechargeable lithium (Li) or nickel (Ni) battery-powered gadgets are becoming increasingly prevalent worldwide due to their lead-free nature, which increases the surgeon's mobility. For instance, according to the WHO reports every year, between 250,000 and 500,000 people suffer a spinal cord injury (SCI). The majority of SCIs are due to preventable causes such as Road Traffic Accidents (RTAs), Falls or Violence. India has 15 lakh people with SCIs and nearly 20,000 people are added each year. Battery-powered systems play a crucial role in spinal cord injury (SCI) treatment by providing innovative solutions for rehabilitation, mobility, and monitoring. Such factors are fueling the growth of battery powered systems in orthopedic power tools market. 

Increasing Prevalence of Orthopedic Injuries and Diseases Boosts the Market

The rising prevalence of orthopedic injuries and diseases is a major driving force behind the global orthopedic power tools market. Individuals who are getting old are more vulnerable to joint injury, osteoporosis and arthritic disorders. In addition, a larger frequency of orthopedic injuries has resulted from workplace accidents as well as increasing engagement in sports and physical activities. For instance, according to World Health Organization’s 2023 report on Osteoarthritis about 73% of people living with osteoarthritis are older than 55 years and 60% are female. Additionally, with a prevalence of 365 million, the knee is the most frequently affected joint, followed by the hip and the hand. With ageing populations and increasing rates of obesity and injury, the prevalence of osteoarthritis is expected to continue to increase globally. The rising prevalence of such diseases leads to higher demand for orthopedic surgeries which is driving the orthopedic power tools market globally. 

High Cost of Surgical Procedures to Hamper the Growth

A significant challenge in the Orthopedic Power Tools market is the high cost of surgical procedures globally. These surgeries are unaffordable in many parts of the world due to their high cost. Even in wealthy nations, patients may find it difficult to pay orthopedic treatments and long-term rehabilitation, making access to affordable care a global concern. Orthopedic power tools can have a significant initial cost, particularly if they are designed for designed for specialized procedures or have advanced technology installed. The total cost of ownership is further increased by continuing maintenance, servicing, and calibration costs. Additionally, financial constraints and reimbursement issues have become prevalent for healthcare facilities, especially in areas with limited healthcare facilities or where government spending on healthcare is limited. As a result, healthcare practitioners may be reluctant to invest in expensive surgical power instruments. 
 
Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Orthopedic Power Tools Market. The top 10 companies in this industry are listed below: 
1.    CONMED Corporation 
2.    Medtronic 
3.    Stryker Corporation 
4.    Zimmer Biomet
5.    B Braun Melsungen AG
6.    Johnson & Johnson 
7.    Arthrex 
8.    Smith & Nephew 
9.    Kaiser Medical Technology Ltd 
10.    NSK / Nakanishi inc.

Scope of the Report: 

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