Further,
for the in-depth analysis, the report encompasses the industry growth
indicators, restraints, and supply and demand risk, along with a detailed
discussion of current and future market trends that are associated with the
growth of the market.
The global
orthopedic power tools market is projected to grow at a CAGR of ~4% by
attaining substantial revenue during the forecast period, i.e., 2023 – 2033.
Spiking cases of bone fractures are anticipated to propel the growth of the
market during the forecast period. As of 2019, around 160 million new cases of
bone fracture occurred. Additionally, increasing demand for orthopedic power
tools in arthroplasty is further estimated to propel the market growth over the
forecast period. Approximately 4000 new cases of bone and joint cancer are
confirmed in 2022, additionally, 1 out of 100,000 people die each year owing to
bone and joint cancer.
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Additionally,
by technology, the global orthopedic power tools market is segmented into battery, electric, and pneumatic powered
devices. Out of these sub-segments, the battery powered devices segment
is estimated to obtain the largest share in the market during the forecast
period. The growth of the segment can be accounted to convenient utilization
and affordability. As of 2019, around 160 million new cases of bone fracture
were reported worldwide.
Furthermore,
the global orthopedic power tools market, by region, is bifurcated into North
America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
region. Out of these regions, the market in the North America region is
estimated to grow at a rapid pace over the forecast period on the back of the
rising prevalence of amputation due to several reasons. For instance,
approximately 170,000 amputation procedures take place annually in the USA.
The
research is global in nature and covers a detailed analysis of the market in
North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain,
Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden,
Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America
(Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India,
Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand,
Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE,
Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle
East and Africa). In addition, analysis comprising market size, Y-O-Y growth
& opportunity analysis, market players’ competitive study, investment
opportunities, demand for future outlook, etc. have also been covered and
displayed in the research report.
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Increasing Prevalence of Bone Fracture to
Foster the Growth of the Market
As of
2019, around 160 million new cases of bone fractures were confirmed.
Bone
fractures are caused by several bone diseases and sports injuries and require
constant medical care. Bone fractures are very discomforting and painful but
they can be avoided and treated with the help of orthopedic power tools. Some examples
of these devices are osteotomes, plate blenders, bone cutting forceps, Gigli
saws, surgical spoons, suture anchors, and others. Therefore, such factors are
anticipated to propel the growth of the market during the forecast period.
However, the
requirement for higher initial investment and lack of requisite technology and
skilled medical professionals is expected to operate as a key restraint to the
growth of the global orthopedic power tools market over the forecast period.
This report also provides the existing
competitive scenario of some of the key players in the global orthopedic power
tools market which includes company profiling of NSK/Nakanishi Inc., Stryker Corporation, CONMED Corporation, India Medtronic Private Limited, Zimmer Biomet,
Inc., Kaiser Medical Technology Ltd, Johnson & Johnson
Services, Inc., Alltech Co., Ltd, B. Braun SE, Medtronic PLC. The profiling enfolds key
information of the companies which encompasses business overview, products and
services, key financials, and recent news and developments. On the whole, the
report depicts a detailed overview of the global orthopedic power tools market that
will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching for possibilities,
and other stakeholders to align their market-centric strategies according to
the ongoing and expected trends in the future.
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