Increase in Application of Surgical Power Tools in Orthopedic Surgeries is projected to drive the Demand for Surgical Power Tools Market

As estimated 4.7 million Americans have undergone total knee arthroplasty (TKA), and 2.5 million have undergone total hip arthroplasty (THA) and are living with implants. The orthopedic community and public know that hip and knee replacement operations are among the most commonly performed operations across the U.S. where surgical power tools are mostly used. Surgical Power tools are considered the backbone of orthopedic surgeries, and they are commonly used in these orthopedic surgeries and give better and precise results that have increased their growth and application.

Data Bridge Market Research analyses that the surgical power tools market is expected to grow at a CAGR of 4.6% in the forecast period of 2021 to 2028 and is expected to reach USD 2,484.87 million by 2028. There are various advantages of surgical power tools, and the advancement in technology has raised their use in surgeries. These surgical power tools increase efficiency in the operating room. They are required in various surgeries such as in an accident, a broken leg, emergency surgery, orthopedic, and neurosurgery. Doctors prefer these surgical power tools because of their advantageous and beneficial use. Thereby the advantages of surgical power tools are expected to drive the market growth.

Surge in Preference of Electric-Operated Power Tools is expected to drive the market's growth rate

Surgeons prefer these electric power instruments and equipment as these can be easily adjusted and provide high flexibility in the surgeries, and patients prefers these surgical tools as they do not produce any vibratory sensations. The electric-operated power tools are less expensive as compared to pneumatic neurosurgery surgical power tools. These electrical surgical power tools devices are used as drilling tools to cut or drill bits on the skull and remove both hard and soft tissues and bones during open and minimally invasive spine procedures. These factors benefited in the rise in the demand for electric operated power tools with better battery backup and fast, efficient use.

Report Scope and Market Segmentation

Segment Analysis:

The global surgical power tools market is categorized into six notable segments based on product, technology, device type, application, end user and distribution channel.

• On the basis of product, the global surgical power tools market is segmented into handpiece, disposables and accessories. In 2021, the handpiece segment is expected to dominate the market growing with the CAGR of 4.7%

The handpiece segment is expected to dominate the market growing with the CAGR of 4.7%

In 2021, the handpiece segment is expected to dominate the market growing with the CAGR of 4.7% in the forecast period of 2021 to 2028 due to its automatic power optimization feature, smooth surgical delivery, and high compatibility rate with a wide range of accessories and disposables. Handpieces are used for various surgical procedures ranging from drilling to reaming, boosting the market growth.

• On the basis of technology, the global surgical power tools market is segmented into electric-operated power tools, battery-driven power tools, pneumatic power tools, others. In 2021, the electric-operated power tools segment is expected to dominate the market growing with the CAGR of 5.3% in the forecast period of 2021 to 2028 as this instrument offers constant torque even with high resistance and higher load. Moreover, enhanced safety precautions associated with accidental injuries have been lowered by introducing electrically operated power tools, accelerating market growth. Electric-powered power tools do not produce any vibratory sensation, enhancing their demand in the market.
• On the basis of device type, the global surgical power tools market is segmented into large bone power tools, small bone power tools, medium bone power tools, others. In 2021, the large bone power tools segment is expected to dominate the market growing with the CAGR of 5.4% in the forecast period of 2021 to 2028 due to the rise in the prevalence of osteoarthritis, osteoporosis, and hip fractures, among other large bone injuries. Moreover, the growing number of knee arthroplasty, among others, is providing the market with lucrative growth.
• On the basis of application, the global surgical power tools market is segmented into orthopedic surgery, ENT surgery, neurology surgery, dental surgery, cardiothoracic surgery, others. In 2021, the orthopedic surgery segment is expected to dominate the market growing with the CAGR of 5.2%

The orthopedic surgery segment is expected to dominate the market growing with the CAGR of 5.2%

In 2021, the orthopedic surgery segment is expected to dominate the market growing with the CAGR of 5.2% in the forecast period of 2021 to 2028 due to the rise in a number of sorts and road accidents and the high adoption of minimally-invasive surgical procedures.

• On the basis of end user, the global surgical power tools market is segmented into hospitals, ambulatory surgical centers (ASC), clinics, others. In 2021, the hospitals segment is expected to dominate the market growing with the CAGR of 5.1% in the forecast period of 2021 to 2028 due to the rise in number of surgeries and demand for devices that can cut off the overall surgery time and high-cost pressure.
• On the basis of distribution channel, the global surgical power tools market is segmented into direct tenders and third party distribution. In 2021, direct tenders segment is expected to the market growing with the CAGR of 4.8% in the forecast period of 2021 to 2028 due to low cost device procurement and large dependence of hospitals among other end users on direct tenders.

Major Players

Data Bridge Market Research recognizes the following companies as the major surgical power tools market players in surgical power tools market are Medtronic (Ireland), Stryker (U.S.), Zimmer Biomet (U.S.), OrthoPromed (U.S.), NOUVAG AG (Switzerland), Medical Bees Gmbh (Germany), Exactech, Inc. (U.S.), DePuy Synthes (U.S.), B. Braun Melsungen AG (Germany), CONMED Corporation (U.S.), Adeor Medical AG (Germany), Arthrex, Inc. (U.S.), Shanghai Bojin Medical Instruments CO., Ltd (China), Chongqing Xishan Science & Technology Co., Ltd. (China), Sharma Orthopedic India Pvt Ltd (India), gpcmedical (India), NSK LTD. (Japan), Sharplinegroup (India), MatOrtho Limited (U.K.), IMEDICOM (Induia), maxon (U.S.), 3M (U.S.), De Soutter Medical (U.S.) and AlloTech Co.,LTD (U.S.) among others.

Market Development

• In December 2020, Medtronic received FDA clearance to integrate Midas Rex high-speed drilling system and implement navigation-based interbody features into Mazor Robotic Guidance System. This has helped the company reinforce the product pipeline and expand the business into the surgical robotic systems field.
• In November 2020, Stryker announced that they had acquired Wright Medical, a company centered on extremities and biologics. This acquisition enhanced the company's overall status in the extremities and trauma segment and extended reach to more patients and customer engagements.
• In June 2021, Medtronic announced that they had launched their product Vanta, a high-performance recharge-free implantable neurostimulator (INS) approved by the FDA. This advanced product has helped the doctors in ease of the treatment.
• In June 2020, MatOrtho Limited announced that their, ReCerf Ceramic Hip Resurfacing procedure have MHRA UK approved and was carried out at the Freeman Hospital in Newcastle. This is a great opportunity to enhance their sales. This is a new advancement that the hospitals adapt with the rise in demand.
• In February 2021, Exactech, Inc announced that they are launching its next-generation hardware and software for its ExactechGPS guided personalized surgery system. This will advance the navigation system for knee surgery and enhances their sales.

Regional Analysis

Geographically, the countries covered in the surgical 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.

As per Data Bridge Market Research analysis:

North America is the dominant region in surgical power tools market during the forecast period

North America dominated the surgical power tools market owing to the increase in application of surgical power tools in orthopedic surgeries and advantages of surgical power tools. North America will continue to dominate the surgical power tools market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period.

Asia-Pacific is estimated to be the fastest-growing region in surgical power tools market

Asia-Pacific is expected to grow during the forecast period due to the rise in preference for electric-operated power tools and rise in prevalence of neurological disorders in this region. In addition, the increasing orthopedic disorders are expected to propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 had a positive impact on the surgical power tools market owing to the surgical requirement for COVID-19 patients. The primary factor driving the market's expansion even during the pandemic is the high product demand in the healthcare sector during the epidemic. The paper claims that when compared to predictions made before to COVID-19, the real-time revenue of surgical power instruments has increased. The manufacturing companies are concentrating on producing surgical power tools during the pandemic to address the increased demand for digital surgical equipment. These elements are causing the market to generate more money during the pandemic.

The major companies in the global surgical power market, on the other hand, are focusing on a variety of profit-generating tactics in the face of the COVID-19 pandemic, including strategic mergers and acquisitions, technological breakthroughs, and capacity growth. During the study period, the market for surgical power tools may expand more quickly as a result of these agreements.

Frequently Asked Questions (FAQs)

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