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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.
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.
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.
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 -
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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