The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Orthopedic Power Tools Global Market Report 2024, the orthopedic power tools market is expected to show promising growth in the forecast period.

The orthopedic power tools market has witnessed a substantial surge in recent years, exhibiting strong growth. From a market size of $1.33 billion in 2023, it is slated to expand to $1.43 billion in 2024, reflecting a commendable compound annual growth rate (CAGR) of 7.6%. The driving forces behind this growth in the historic period include factors such as an aging population, trauma cases, hospital infrastructure development, patient safety concerns, and a focus on surgeon training and education.

Anticipating Future Growth: A Proactive Outlook

Looking ahead, the orthopedic power tools market is poised for continued growth, projecting a market size of $1.81 billion in 2028, driven by a CAGR of 6.1%. Factors contributing to this anticipated growth in the forecast period include the integration of telemedicine, home healthcare practices, advancements in sports medicine, the rise of non-invasive orthopedics, and an emphasis on sustainable practices. Key trends on the horizon encompass innovations in orthopedic implants, device technology, the advent of orthopedic robotics, bone reshaping and fusion techniques, the integration of artificial intelligence (AI), and the evolution of surgical navigation.

Addressing the Orthopedic Epidemic: Rising Prevalence of Disorders

Global Burden of Orthopedic Disorders:

The escalating prevalence of orthopedic disorders globally is expected to drive the demand for orthopedic power tools. Orthopedics, focusing on the treatment of skeletal system abnormalities, including the spine, ligaments, and muscles, relies heavily on these power tools. According to the World Health Organization (WHO), approximately 1.71 billion people worldwide had musculoskeletal conditions in 2021, highlighting the widespread impact of orthopedic disorders. Major players in the orthopedic power tools market, such as DePuy Synthes Inc. and Stryker Corporation, are actively contributing to meet this growing demand.

Innovative Solutions from Industry Leaders:

Leading companies in the market, including Medtronic PLC and Smith and Nephew PLC, are playing a crucial role in addressing the orthopedic epidemic. Their involvement spans the manufacturing of innovative orthopedic power tools, contributing to the treatment and management of various orthopedic conditions.

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Technological Evolution: A Game-Changer in Orthopedic Power Tools

Advancements in Sterilization Technology:

The adoption of advanced technology is a pivotal trend shaping the orthopedic power tools market. Innovations in sterilization processes are enhancing the efficiency of treatment procedures. For instance, Arbutus Medical’s SteriTrak, launched in May 2021, revolutionizes bone traction in trauma centers. This kit enables quick acquisition of sterile bone traction equipment, ensuring cleanliness and expeditious application, particularly in cases of severe bone fractures.

Strategic Expansion through Acquisition:

In a strategic move in June 2022, Conmed Corporation acquired In2Bones Global Inc., bolstering its orthopedic product line. This acquisition, part of Conmed’s broader plan, aims to offer comprehensive patient care solutions. In2Bones Global Inc., known for manufacturing orthopedic power tools, adds a valuable dimension to Conmed’s capabilities.

Navigating the Orthopedic Power Tools Market Landscape

Segmentation Overview:

The orthopedic power tools market is segmented based on product type, technology, and end-user. Product types include Large Bone Orthopedic Power Tools, Small Bone Orthopedic Power Tools, High-Speed Bone Orthopedic Power Tools, and Orthopedic Reamers. Technologies cover Pneumatic Powered, Battery Operated, and Electric Powered options. End-users span Orthopedic Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers.

Regional Dynamics:

North America dominated the orthopedic power tools market in 2023, with Asia-Pacific anticipated to be the fastest-growing region in the forecast period. This regional distribution reflects the global impact of orthopedic disorders and the diverse strategies required for effective market management.

Conclusion: A Dynamic Future Awaits Orthopedic Power Tools

In conclusion, the orthopedic power tools market is not only witnessing impressive growth but is also evolving in response to technological advancements and strategic expansions. As the global prevalence of orthopedic disorders continues to rise, the industry is stepping up with innovative solutions and advanced technologies. The coming years promise a dynamic landscape, with trends in orthopedic implants, robotics, AI integration, and sustainable practices reshaping the way we approach orthopedic care. The collaborative efforts of major players, healthcare professionals, and technological innovators will play a pivotal role in navigating this exciting future for orthopedic power tools.

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