The global orthopedic power tools market size was USD 1.43 billion in 2020. The market is projected to grow from USD 1.54 billion in 2021 to USD 2.05 billion by 2028 at a CAGR of 4.1% during the 2022-2028 period. This information is provided by Fortune Business Insights, in its report titled, “Orthopedic Power Tools Market, 2022-2028.”
According to our researchers, the growing volume of orthopedic surgeries, geriatric population, operating room supply standardization, and technical improvement are all contributing to the orthopedic power tools market growth. Orthopedic power tools are precision-engineered power instruments used to execute orthopedic surgical procedures. The application and manner of operation of these devices differ. During orthopedic injuries, surgeons require them to put implants into the bones.
Industry Developments:
- December 2020: Midas Rex high-speed drills with Mazor Robotic Guidance System have been cleared by the U.S. Food and Drug Administration, allowing Medtronic’s robotic portfolio to provide a precise surgical experience.
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| North America | United States, Canada and Mexico |
| Europe | Germany, UK, France, Italy, Russia and Turkey etc. |
| Asia-Pacific | China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc. |
| South America | Brazil, Argentina, Columbia etc. |
| Middle East & Africa | Saudi Arabia, UAE, Egypt, Nigeria and South Africa |
COVID-19 Impact:
Supply Chain Disruption to Hamper Growth
The pandemic had an impact on many medical operations, especially orthopedic surgeries. For surgeons to be able to give safe and effective care to their patients during the COVID-19 pandemic, precise protocols unique to each specialty were created and followed. Due to regulatory authorities’ strict guidance to prevent any non-emergent surgery, the volume of orthopedic surgeries decreased dramatically throughout the pandemic. Patient visits to hospitals and other healthcare settings for non-COVID related ailments decreased due to nationwide lockdowns, travel restrictions, and other containment measures imposed by various national bodies.
Segments:
Product Type, Application, Usage, End-User, and Region are Studied
By product type, the market is segmented into instruments (surgical drills, saws, and accessories), and others.
Based on application, the market is fragmented into electric power device, pneumatic power device, and battery power device.
Based on usage, the market is segregated into reusable and disposable.
Based on end-user, the market is divided into hospitals & ASCs, and specialty clinics.
Finally, by geography, the market is divided into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
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