Outlook of the global orthopedic surgical power tools market
Technavio’s market research analyst has estimated the global orthopedic surgical power tools market to grow at a CAGR of almost 3% by 2020. This market will grow moderately during the forecast period, and the prospects for its growth will be driven by the rising number of surgical procedures and recent technological advances. The recent rise in global geriatric population will lead to an increase in the incidence of orthopedic, cardiovascular, and neurological diseases, which would require surgical intervention. This increase in the need for surgical procedures that require power tools will result in the moderate growth of this market during the estimated period.
In this market study, the analysts have estimated the augmented demand for minimally invasive techniques to spur the prospects for market growth until the end of 2020. In recent times, it has been observed that minimally invasive surgeries are being increasingly used to treat many orthopedic complications related to the knee, hip, shoulder, elbow, or the spine. Such surgical procedures would necessitate the use of power tools as they will help to carry out surgeries with minimal cuts. Benefits like reduced hospital stay, reduced bleeding and recovery time, and faster recovery time will help to augment its demand during the predicted period.
Application-based segmentation of the orthopedic surgical power tools market
- Large bone power tool
- Small bone power tool
- High-speed power tool
In terms of applicability, the large bone power tools segment dominated this market as it accounted for a market share of more than 61% during 2015. Large bone power tools are utilized for hip and knee reconstruction surgeries and trauma-related surgeries. Based on the preferences and the type of surgeries performed, both modular and dedicated power systems can be used.
Geographical segmentation of the orthopedic surgical power tools market
At present, the Americas accounted for the largest share of the global orthopedic surgical power tools market and is envisaged to grow at a CAGR of around 2% by 2020. Factors such as the large-scale presence of hospitals and surgical centers in the region and advances in technology will lead to the steady growth of the market in this region.
Competitive landscape and key vendors
The global orthopedic surgical power tools market is extremely dynamic and fragmented owing to the presence of large, medium, and small players. At present, this market is primarily dominated by the large vendors, but extensive market research carried out by the analysts at Technavio has shown that they are continuously losing their market shares to smaller players that show strong performance in the surgical power tools market.
Key vendors in this market are -
- CONMED
- DePuy Synthes
- Medtronic
- Stryker
- Zimmer
Other prominent vendors in this market are adeor, Arthrex, Aygun Surgical Instruments, B. Braun, De Soutter Medical, MedicMicro, MicroAire Surgical Instruments, OsteoMed, and Stars Medical Devices.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global orthopedic surgical power tools market?
- What are the key market trends impacting the growth of the global orthopedic surgical power tools market?
- What are the challenges to market growth?
- Who are the key vendors in the global orthopedic surgical power tools market?
- What are the market opportunities and threats faced by the vendors in the global orthopedic surgical power tools market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global orthopedic surgical power tools market?
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