The global orthopedic power tools market size is anticipated to reach USD 2.21 billion by 2030 and is expected to expand at a CAGR of 3.86% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing incidence of orthopedic abnormalities, the growing geriatric population, advancements in surgical techniques, and the rising demand for minimally invasive procedures are substantially contributing to market growth. These trends further lead to the tremendous demand for the development of various efficient tools to overcome orthopedic problems among the population. For instance, in January 2024, Paragon 28, Inc. presented the FJ2000 Power Console and Burr System, a solution aimed at revolutionizing ankle and foot surgery. This advanced system enables various non-surgical and open practices in the ankle and foot, leveraging the latest technological advancements to enhance surgical outcomes and patient care.
The report “Orthopedic Power Tools Market Size, Share & Trends Analysis Report By Product, By Technology, By Modality, By End Use, By Region and Segment Forecasts, 2024 – 2030” is available now to Grand View Research customers and can also be purchased directly
The market is poised for growth, driven by the increasing number of product launches by leading players. These new product introductions are bringing advanced technologies, innovative features, and improved surgical outcomes, attracting healthcare providers' attention and adoption. This trend of continuous innovation and product development is expected to be a key driver for the market during the forecast period. For instance, in March 2023, Arbutus Medical introduced the QuikBow, an advanced wire/pin tensioning device that surpasses traditional Kirschner bows in speed and reliability. The QuikBow is included in Arbutus Medical's TrakPak product, a sterile kit for bedside skeletal traction to enhance the efficiency and dependability of orthopedic procedures.
Moreover, the growing geriatric population is one of the significant factors driving market growth. According to the World Population Prospects 2022 data, provided by United Nations, the population above the age of 65 years is growing more drastically than the population below that age. This is further anticipated to grow the global geriatric population from 10 % to 16% by 2050. Moreover, this would lead to a double increase in the number of elderly people (above 65 years) than the number of younger population under age 5 and age 12.
Orthopedic Power Tools Market Report Highlights:
· Based on product, the large bone power tools segment dominated and accounted for 29.03% of the revenue share in 2023. This is driven by the rising incidence of orthopedic disorders, accidents, and sports injuries requiring extensive bone procedures
· Based on technology, the electric-powered systems segment is anticipated to register CAGR from 2024 to 2030. These systems are gaining popularity due to their lightweight design, continuous power supply, and lower maintenance costs compared to pneumatic-powered devices
· Based on modality, the disposable segment, held the highest revenue share in 2023, driven by the increasing demand for single-use devices in orthopedic surgeries due to infection control and patient safety concerns
· Based on end use, the outpatient facilities segment is anticipated to experience significant CAGR from 2024 to 2030. This can be attributed to the increasing preference for minimally invasive procedures in orthopedic surgeries
· The North America region held the highest revenue share in 2023 due to the increasing demand for minimally invasive surgeries, which led to the development of advanced power tools that enable surgeons to perform complex procedures with precision and accuracy
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Orthopedic Power Tools Market Segmentation:
Grand View Research has segmented the global orthopedic power tools market based on the product, technology, modality, end use, and region:
· Orthopedic Power Tools Product Outlook (Revenue, USD Million, 2018 – 2030)
o Large bone orthopedic power tools
o High-speed orthopedic power tools
o Small bone orthopedic power tools
o Others (accessories and reamers)
· Orthopedic Power Tools Technology Outlook (Revenue, USD Million, 2018 – 2030)
o Battery-powered Systems
o Electric-powered Systems
o Pneumatic-Powered Systems
· Orthopedic Power Tools Modality Outlook (Revenue, USD Million, 2018 – 2030)
o Disposable
o Reusable
· Orthopedic Power Tools End Use Outlook (Revenue, USD Million, 2018 – 2030)
o Hospitals
o Outpatient Facilities
· Orthopedic Power Tools Regional Outlook (Revenue, USD Million, 2018 – 2030)
o North America
o U.S.
o Canada
o Mexico
o Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
o Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
o Latin America
- Brazil
- Argentina
o Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players in the Orthopedic Power Tools Market
· Stryker
· CONMED Corporation
· Medtronic
· DepuySynthes (Johnson & Johnson MedTech)
· B. Braun SE
· Zimmer Biomet
· NSK / Nakanishi inc.
· Shanghai Bojin Medical Instrument Co.,Ltd
· Richard Wolf GmbH
· Arthrex, Inc.
· Kaiser Medical Technology Ltd
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com
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