The branch of orthopedics 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, the world of 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. The biggest advantage of orthopedic power tools is that they enable surgeons to perform the same surgical procedures with greater pace, more precision, and higher accuracy.
Used in a wide range of surgical aspects, including everything from wound management to pulse lavage, these power tools are primarily used in treating long bone fractures. Over the years, orthopedic power tools have evolved into lightweight devices, which are much easier to use than they were earlier. They are easy-to-assemble, highly modular, and economically affordable. Owing to consistently positive performance, orthopedic surgical power tools have been popular in the global market.
Perpetual prevalence of osteoporosis and a few other ailments play a major role in propeling the demand for orthopedic surgeries, and eventually power tools as well. With growing geriatric population, osteoporosis is highly pronounced worldwide, especially in developing nations. Increasing incidences of fragile fractures in wrist, hip, and spine are further contributing to the demand for orthopedic surgical power tools. Technological and operational advancements in tool designs over the years, counts among the top factors influencing the market growth. Several governments and private authorities are increasingly promoting regulations regarding operating room supply standardization. This is also a crucial driving factor for the power tools market.
Orthopedic Surgical Power Tools Types
Orthopedic surgical power tools are available in four key types, including large bone orthopedic power tools, small bone orthopedic power tools, high-speed orthopedic power tools, and orthopedic reamers. The technology used for each tool may however differ. Based on technology, there are three categories, including pneumatic-powered systems, electric-powered systems, and battery operated-powered systems. Traditional power tools and disposable power tools are also the two major segments of this market. The preference for disposable/single-use tools from conventional/reusable tools is increasing since the past few years. The latter are high maintenance and expensive, whereas the former are convenient and cost-effective.
Orthopedic Surgical Power Tools: Region-wise Analysis
Geographical analysis of the global orthopedic surgical power tools market indicates that the adoption of power tools is considerable in almost all over the globe but North America is a key market, owing to a staggering demand for spinal and other orthopedic procedures. In addition, rising cases of osteoporosis are fueling the demand for orthopedic power tools in most of the developing economies in Asia Pacific. China, Australia, and Japan represent notable regions with rapidly growing markets. However, price sensitivity are influencing the adoption rates of orthopedic power tools in each regional market.
Some of the key players in the global power tools market are ConMed Corporation, Medtronic, Stryker Inc., Arthrex, Zimmer Holdings Inc., DePuy Synthes, Misonix Inc., Aesculap, Adeor, Aygun Surgical Instruments, MedicMicro, B. Braun, OsteoMed, Brasseler USA, and Stars Medical Devices.
Leading companies are frequently launching advanced, innovative technology-based power tool products. However, new entrants have been impactful in a way. The marketplace is creating extremely competitive scenario, which is forcing established players to enhance efforts and stand out. Ongoing research is also focusing on the possibilities of using novel, more efficient energy sources to power tools and interchangeability of hand pieces for better modulation and convenience.
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
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Below is a snapshot of these quadrants.
1. Customer Experience Map
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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?
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