Global Surgical Power Tools Market: Snapshot
Rising number of people dealing with different neurological disorders is projected to create high demand opportunities for players in the global surgical power tools market in the forecast period of 2021 to 2031. Handpiece, disposables, and accessories are some of the product types available in the surgical power tools market.
TMR’s upcoming research report offers comprehensive analysis of key factors shaping the growth of the global surgical power tools market. Thus, this study covers data and analysis on the growth avenues, drivers, restraints, and the research and development activities in the market. The research report works as a complete guide for all entities operating in the surgical power tools market.
The research report performs segmentation of the global surgical power tools market on the basis of varied important parameters including product, technology, device type, application, and region. In terms of technology, the market for surgical power tools is classified into three main parts, namely, battery-driven power tools, pneumatic power tools, and electric-operated power tools.
What are the Key Drivers of Global Surgical Power Tools Market?
Over the period of past few years, a significant growth in the cases of neurological disorders is observed across major parts of the globe. This factor is working as one of the key drivers of the global surgical power tools market.
It is observed that the increased number of neurological health issues is resulting into disabilities or demises of patients. In these patients, the percentage of older populace is notably high. Thus, increase in the number of older population across the globe may create high demand for surgical power tools in the years to come.
A significant growth in the number of health conditions such as osteoarthritis, hip fractures, and osteoporosis is observed in the recent few years. This scenario has resulting into increased number of large bone surgeries such as hip arthroplasty and knee arthroplasty. On the back of this factor, the global surgical power tools market is projected to experience upward curve of sales in the forecast period 2021–2031.
What Strategies Key Players are Using to Boost Their Share in Surgical Power Tools Market?
The global surgical power tools market is fairly fragmented in nature. Presence of several players is the indication of highly intense competitive landscape of the market for surgical power tools. Companies working in this market are using varied strategic moves to maintain their leading market position.
Several players in the global surgical power tools market are increasing their efforts toward product development activities. In addition, several enterprises are increasing their regional expansion activities. Partnerships, mergers, acquisitions, joint ventures, and collaborations are some of the key tactics utilized by enterprises in the market for surgical power tools.
Some of the key players in the global surgical power tools market are:
- Stryker Corporation
- Medtronic plc
- Zimmer Biomet
- Medical Bees GmbH
- Nouvag AG
- Braun Melsungen AG
- AlloTech Co. LTD
North America Demand Outlook for Surgical Power Tools
In terms of region, the global surgical power tools market shows prominent growth opportunities in the North America region. This growth can be attributed to many factors such as presence of many players and favorable reimbursement policies in the region. Apart from this, the increased inclination among regional surgeons toward the use of advanced surgical instruments will impact positively on the market growth in the upcoming years.