Orthopedics is a branch of medicine that focuses on the diagnosis, improvement, prevention, and treatment of patients with musculoskeletal deformities such as skin ligaments, tendons, nerves, joints, and bones disorders. Orthopedic power tools are lighter, user-friendly than conventional orthopedic tools and can be easily handled while performing orthopedic surgeries. These tools are classified into three types such as pneumatic power tools, battery-operated power systems, and electric powered orthopedic tools. However, the orthopedic power tools have revolutionized the world of orthopedic surgery. These tools help healthcare to perform surgical procedures with greater pace, more precision, and higher accuracy.
The increasing demand for minimally invasive surgeries worldwide to treat various disorders (such as spinal, neurosurgical, and orthopedic diseases), growing population, rising number of accidents, and increasing incidence of spinal injuries is driving the orthopedic power tools market growth. According to the National Spinal Cord Injury Statistical Center, each year, around 17,700 new cases of spinal cord injury are diagnosed in the United States. In 2018, around 54 people in the U.S. (per one million) suffered from spinal cord injury. Orthopedic power tools are used to perform minimally invasive surgeries with a minuscule incision, reduce the risk of bleeding, shorten hospital stay, and offer faster recovery.
Increasing prevalence of orthopedic disorders, increasing demand for orthopedic procedures (to treat conditions such as fractures, osteoporosis, osteoarthritis, etc.), and technological advancements are some of the major factors attributing to the growth of the orthopedic power tools market. According to the Centers for Disease Control and Prevention, osteoarthritis is the most common type of joint disease, affecting more than 30.5 million individuals in the U.S. alone. Moreover, the risk of developing osteoarthritis increases with age, while women are more likely to develop osteoarthritis than men, especially after age 50.
In terms of geography, the orthopedic power tools market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. North America is expected to witness substantial growth in the market due to the presence of key players in the region. Key players are focused on product approvals and product launches to strengthen their market presence. For instance, in January 2019, Medtronic announced the commercial launch of an orthopedic power tool, Mazor X stealth edition, for robotic-assisted spine surgeries. However, the high cost of orthopedic procedures is expected to hamper the orthopedic power tools market growth.
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