Orthopedic Power Tools Market Size

Orthopedic Power Tools Market Analysis

The Orthopedic Power Tools Market is expected to grow at a registered CAGR of 3.78% during the forecast period.

Many hospitals and healthcare facilities postponed or cancelled elective orthopaedic surgeries to prioritise COVID-19 patients and conserve resources during the initial phase of the pandemic, which led to a decline in patient visits during the initial phase of the pandemic that affected the overall need for orthopaedic procedures, consequently impacting the market for orthopaedic power tools. For instance, according to the article published in Cureus Journal in August 2021, the number of orthopaedic surgeries fell by 22.8% during the first year of the pandemic. As per the same source, there was a 64% decline in knee arthroplasty procedures, 44% in knee ligament reconstruction, and 41% in hip arthroplasty procedures during the initial phase of the pandemic. However, with the decline in COVID-19 cases and ease in restrictions, orthopaedic procedures are increasing, so the demand for orthopaedic power tools is expected to increase in the post-pandemic period.

The major factors attributing to the growth of the orthopaedic power tools market are the increasing volume of orthopaedic procedures and the rise in the aging population. The increase in bone injuries is projected to accelerate the demand for various surgical interventions, such as spinal fusions, laminectomies, kyphoplasty, discectomy, and spinal decompressions, thereby driving the need for orthopaedic power tools. For instance, according to the article published by the NCBI in May 2022, approximately 500,000 people globally suffer from spinal cord injury (SCI) every year. As per the same source, every year, about 17,000 new cases of SCI are reported in the United States. Hence, the high number of spinal cord injuries will likely drive the demand for orthopaedic tools for precise bone preparation, implant placement, and efficient surgical outcomes. As spinal cord injuries continue to rise due to various factors, including accidents and medical conditions, the demand for orthopaedic power tools is expected to increase to support the growing need for spinal surgeries and rehabilitation. Furthermore, as the elderly population grows, the prevalence of orthopaedic conditions such as osteoarthritis, fractures, and degenerative disc diseases also rises owing to osteopenia, osteoporosis, and natural changes in bone quality. For instance, according to the data released by the WHO in October 2022, approximately 1 in 6 people in the world will be aged 60 years or over by the end of 2030. The same source mentioned that the global population of 60 and older would increase to 2.1 billion by 2050. Therefore, the demand for orthopaedic surgeries is expected to surge with the aging population seeking improved quality of life and increased mobility.

Moreover, the rising number of product launches by prominent players is also expected to drive market growth during the forecast period, as these launches introduce advanced technologies, innovative features, and improved surgical outcomes, attracting the attention of healthcare providers. For instance, in December 2021, Johnson & Johnson (DePuy) Synthes launched UNIUM System, an orthopaedic power tool for small bone, sports medicine, spine, and thorax procedures.

Hence, owing to the high burden of orthopaedic diseases, the growing geriatric population, and novel product launches, the market is expected to propel at a high growth rate during the forecast period. However, the high cost of orthopaedic devices is expected to be the major restraint for the market growth during the study period.