Orthopaedic Power Tools: Introduction
- The branch of orthopedics in the medical field deals with the skeletal system and joints, muscles, and ligaments associated with it. Orthopedic surgeries have been playing a vital role in correction and prevention of disorders related to the skeletal system.
- However, orthopedic surgery was revolutionized with the introduction of orthopedic surgical power tools. They are currently an integral part of modern operative orthopedics. Surgeons often use these electrically operated devices during surgeries in order to drill through bones and incorporate implants in respective holes.
- A significant advantage of orthopedic power tools is that they enable surgeons to perform the same surgical procedures with greater pace, more precision, and higher accuracy
Key Drivers of Global Orthopaedic Power Tools Market
- Perpetual prevalence of osteoporosis and a few other ailments play a major role in propelling the demand for orthopedic surgeries and eventually, power tools as well
- Rise in geriatric population is driving the incidence of osteoporosis worldwide, especially in developing nations
- Increase in incidences of fragile fractures in wrist, hip, and spine are further fueling the demand for orthopedic power tools. Technological and operational advancements in tool designs over the years is a major factor boosting the market.
- Several governments and private authorities are increasingly promoting regulations regarding operating room supply standardization. This is also a key factor driving the power tools market.
Large Bone Orthopedic Power Tools Segment to Dominate Global Market
- In terms of type, the global orthopedic power tools market can be classified into large bone orthopedic power tools, small bone orthopedic power tools, high-speed orthopedic power tools, and orthopedic reamers
- The large bone orthopedic power tools segment is expected to dominate the global market during the forecast period due to high usage of orthopedic power tools in large bone surgeries
Electric-powered Systems Segment to Lead Global Market
- Based on technology, the global orthopedic power tools market can be divided into pneumatic-powered systems, electric-powered systems, and battery operated-powered systems.
- The electric-powered systems segment is likely to dominate the global market during the forecast period, as these tools are convenient and cost-effective
Hospitals to be Highly Lucrative Segment
- In terms of end-user, the global orthopedic power tools market can be categorized into hospitals, ambulatory surgical centers, and others
- The hospitals segment is projected to account for major share of the global orthopedic power tools market by 2030 due to a large number of patients treated in hospitals for orthopedic surgeries
North America to Offer Significant Opportunities in Orthopaedic Power Tools Market
- In terms of region, the global orthopedic power tools market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global orthopedic power tools market in 2019 owing to a significantly high demand for spinal and other orthopedic procedures in the region
- Rise in cases of osteoporosis is also fueling the demand for orthopedic power tools in most developing economies in Asia Pacific. China, Australia, and Japan represent notable and rapidly growing markets in the region.
- However, price sensitivity is influencing the rate of adoption orthopedic power tools in each regional market
Key Players Operating in Global Orthopaedic Power Tools Market
The global orthopedic power tools market is highly fragmented, with the presence of international and local players. Key players operating in the global orthopedic power tools market are:
- ConMed Corporation
- Stryker Inc.
- Zimmer Holdings Inc.
- DePuy Synthes
- Misonix Inc.
- Aygun Surgical Instruments
- B. Braun
- Brasseler USA
- Stars Medical Devices
Global Orthopaedic Power Tools Market: Research Scope
Global Orthopaedic Power Tools Market, by Type
- Large Bone Orthopedic Power Tools
- Small Bone Orthopedic Power Tools
- High-speed Orthopedic Power Tools
- Orthopedic Reamers
Global Orthopaedic Power Tools Market, by Technology
- Pneumatic-powered Systems
- Electric-powered Systems
- Battery Operated-powered Systems
Global Orthopaedic Power Tools Market, by End-users
- Ambulatory Surgical Centers
Global Orthopaedic Power Tools Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.