DelveInsight’s Orthopedic Power Devices Market Insights, Competitive Landscape and Market Forecast–2026 report provides a thorough understanding of current market dynamics, market segment analysis and Orthopedic Power Devices key players.
Orthopedic Power Devices Overview
A surgical power tool or an orthopedic power device is an equipment which is used to perform surgery on bone or bone fragments. These tools help in sawing, drilling, screwing, and reaming.
Orthopedic Power Devices Market By Type (Large-Bone Powered Devices and Small-Bone Powered Devices), By Product Type (Drills, Saws, Reamers, and Others), By Power Source (Pneumatic, Battery-Powered, and Electric), By Usability (Single-Use and Reusable), By End User (Hospitals, Ambulatory Surgical Centers, and Others), By Geography is expected to grow at a steady CAGR forecast till 2026 owing to increasing incidence of bone fractures and rising number of trauma cases.
Global Orthopedic Power Devices Market was valued at USD 1.07 billion in 2020, growing at a CAGR of 4.34% during the forecast period from 2021 to 2026 to reach USD 1.38 billion by 2026. Factors such as increasing prevalence of degenerative bone disorders, rising aging population, rising number of trauma cases, and growth in the product innovation are stimulating the growth of the orthopedic power devices market positively.
Find a snapshot of the Orthopedic Power Devices Market Outlook
- CONMED Corporation
- DePuy Synthes (Medical Devices Business Services, Inc.)
- MicroAire Surgical Instruments, LLC
- Zimmer Biomet
- De Soutter Medical
- adeor medical AG
- Smith & Nephew
- Arthrex Inc, Inc
- Brasseler USA
- Nouvag AG
- AYGUN CO.,INC
- Shanghai Bojin Medical Instrument Co.,Ltd
- Allotech Co. Ltd.
- medical bees GmbH
- MatOrtho Limited
- NAKANISHI INC and others.
Orthopedic Power Devices Market Dynamics
One of the main reasons behind the positive growth of the orthopedic power devices market is the rising number of cases of bone fractures among adults. As per the study published in the Lancet journal titled “Global, regional, and national burden of bone fractures in 204 countries and territories, 1990–2019: a systematic analysis from the Global Burden of Disease Study 2019” published in 2021 stated that in 2019, there were 178 million new fractures (an increase of 33•4% since 1990), 455 million prevalent cases of acute or long-term symptoms of a fracture (an increase of 70•1% since 1990), and 25•8 million YLDs (an increase of 65•3% since 1990). As per the above-mentioned source, in 2019, the lower leg fractures of the patella, tibia or fibula, or ankle were the most common and burdensome fractures worldwide. The increasing incidence rate of bone fractures can be attributed to the rising prevalence of degenerative bone disorders such as osteoporosis and spinal disc degeneration in adults particularly the elderly population. Thus, the demand for orthopedic power devices will also increase which will drive the market growth during the forecast period.
Orthopedic Power Devices Market Analysis
Orthopedic Power Devices Market by Type (Large-Bone Powered Devices and Small-Bone Powered Devices), by Product Type (Drills, Saws, Reamers, and Others), by Power Source (Pneumatic, Battery-Powered, and Electric), by Usability (Single-Use and Reusable), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
Highest Orthopedic Power Devices Market Share Region
Among all the regions, North America is expected to amass the largest share of orthopedic power devices market. The growing number of orthopedic surgical procedures due owing to the high prevalence of osteoporosis and other bone diseases, rising population of the elderly, increasing number of sports-related injuries to well as better healthcare facilities and reimbursement programs coupled with the presence of major market players as well as higher investment in the research and development activities in the region are predicted to be the major influencing factors in driving the overall growth of the orthopedic power devices over the forecast period.
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