Global Bone Power Tools Market, By Type (Large Bone Power Tool, Small Bone Power Tool, High-Speed Bone Power Tool, Orthopedic Reamers), Technology (Pneumatic-Powered Systems, Battery-Powered Systems, Electric-Powered Systems), End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgery Centres, Others) – Industry Trends and Forecast to 2029.
Bone Power Tools Market Analysis and Size
The market for bone power tools are expected to grow during forecast period. Power tools are now employed in every phase of orthopaedic surgery, from pulse lavage for wound management to drilling and reaming for the placement of screws and intramedullary nails in long bone fractures. Further improvements have been made to these tools to make them lighter for user convenience.
Data Bridge Market Research analyses that the bone power tools market which was USD 25.87 billion in 2021, would rocket up to USD 51.55 billion by 2029, and is expected to undergo a CAGR of 9.00% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Bone Power Tools Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Large Bone Power Tool, Small Bone Power Tool, High-Speed Bone Power Tool, Orthopedic Reamers), Technology (Pneumatic-Powered Systems, Battery-Powered Systems, Electric-Powered Systems), End-User (Hospitals, Orthopedic Clinics, Ambulatory Surgery Centres, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Zimmer Biomet (U.S.), Smith+Nephew (Germany), Medtronic (Ireland), Stryker (U.S.), B. Braun Melsungen AG (Germany), NuVasive, Inc. (U.S.), DJO, LLC (U.S), Institut Straumann AG (Switzerland), OSSTEM IMPLANT CO., LTD. (South Korea), Narang Medical Limited (India), Globus Medical (U.S.), Arthrex, Inc. (U.S.), CONMED Corporation (U.S), Integra LifeSciences Corporation (U.S.), RTI Surgical (U.S.), W. L. Gore & Associates, Inc. (U.S.), Corin Group (U.S.) and Johnson & Johnson Private Limited (U.S.)
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Market Opportunities
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Market Definition
Power tool was designed to be more dependable, efficient, and comfortable to use, for a better surgical experience and better results. Its intended applications include drilling, reaming, burring, screwing, tapping, sawing, and setting pins and cables in traumatology and orthopaedic surgery. The bone power tools include drills, saws, chisels, and other tools designed to help surgeons and perform bone surgery more efficiently.
Global Bone Power Tools Market Dynamics
Drivers
- Increasing number of orthopedic surgeries
Orthopaedic surgeons carry a variety of orthopaedic power instruments. Demand for bone power tools is rising as more people have orthopaedic procedures. The American Academy of Orthopedic Surgeons predicts that by 2030, there would be 635,000 primary total joint replacements and 1.28 million primary total knee replacements performed in the United States, respectively, an increase of 171% and up to 189%, respectively.
- Significant rise in the number of osteoporosis patients
In the coming years, advances in limiting side effects are projected to generate profitable prospects for the orthopaedic business. Large rates of co-morbidities, such as obesity and diabetes, have been increasing the risk of degenerative joint disease, particularly among the elderly. As more young people participate in sports and fitness activities, the incidence of accidents related to these activities is on the rise. This has increased demand for bone power tools.
Opportunities
Growing demand for orthopaedic operations, an increase in minimally invasive procedures, an increase in hip, wrist, and spine fractures, as well as the advantages of being simple to construct, lightweight, and cost-effective, are some of the reasons driving the market's expansion from 2022 to 2029. On the other hand, widespread use of cutting-edge technology will increase a number of market opportunities and fuel the expansion of the bone power tools market during the forecast period.
Restraints/Challenges
- High cost
On the other hand, the increasing hospital consolidation and cost pressures along with reimbursement policies will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the bone power tools market.
This bone power tools market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bone power tools market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Bone Power Tools Market
This was predicted to have a detrimental influence on the need for orthopaedic sessions, which are often performed in outpatient settings. The emergence of COVID-19 had an influence on the market, as hospital and health-care services have been severely constrained by governments around the. Furthermore, the COVID-19 outbreak has impacted the worldwide economy and had a considerable influence on regular hospital care for non-COVID-19 patients in hospitals all over the world. Due to the closure of many hospitals and clinics, the demand for bone power tools is expected to decline in the near future.
The global market for bone power tools has benefited from the coronavirus outbreak. The primary cause of this growth is the increase in bone diseases and patients with COVID-19 who need surgery. The market's top players are focusing on developing strategies to maintain market growth during the post-pandemic period.
Recent Development
- In October 2020, Medtronic announced that their Adaptix Interbody System, the first guided titanium implant with Titan nanoLOCK Surface Technology, would be available in the United States. The company's new product has enhanced its credibility and demand in the market, resulting in greater revenue in the region.
- In September 2020, Smith & Nephew plc stated that it had introduced its REDAPT System for revision total hip arthroplasty (rTHA) in the Chinese market. The company's new product has raised its sales and demand in the Asia-Pacific area.
Global Bone Power Tools Market Scope
The bone power tools market is segmented on the basis of type, technology and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Large Bone Power Tool
- Small Bone Power Tool
- High-Speed Bone Power Tool
- Orthopedic Reamers
Technology
- Pneumatic-Powered Systems
- Battery-Powered Systems
- Electric-Powered Systems
End-User
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgery Centres
- Others
Bone Power Tools Market Regional Analysis/Insights
The bone power tools market is analysed and market size insights and trends are provided by country, type, technology and end-user as referenced above.
The countries covered in the bone power tools market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the bone power tools market due to the high prevalence of minimally invasive procedures, rising geriatric population base and rise in orthopaedic and spinal procedures.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the growing awareness amongst people regarding skeletal deformities and adoption of advanced techniques.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The bone power tools market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for bone power tools market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the bone power tools market. The data is available for historic period 2010-2020.
Competitive Landscape and Bone Power Tools Market Share Analysis
The bone power tools market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bone power tools market.
Some of the major players operating in the bone power tools market are:
- Zimmer Biomet (U.S.)
- Smith+Nephew (Germany)
- Medtronic (Ireland)
- Stryker (U.S.)
- B. Braun Melsungen AG (Germany)
- NuVasive, Inc. (U.S.)
- DJO, LLC (U.S.)
- Institut Straumann AG (Switzerland)
- OSSTEM IMPLANT CO., LTD. (South Korea)
- Narang Medical Limited (India)
- Globus Medical (U.S.)
- Arthrex, Inc. (U.S.)
- CONMED Corporation (U.S.)
- Integra LifeSciences Corporation (U.S.)
- RTI Surgical (U.S.)
- W. L. Gore & Associates, Inc. (U.S.)
- Corin Group (U.S.)
- Johnson & Johnson Private Limited (U.S.)
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