Surgical power tools market is currently experiencing a shift from traditional pneumatic tools to new technology electric power tools. Electric and battery powered tools are durable and provide precision during procedures. Development in designs has helped in expanding the scope of application in orthopedic procedures, dental surgeries, ENT procedures and neurosurgeries. Surgical power tools are used for gaining access to surgical sites, shaping bones to efficiently fit implants, and repositioning. Incidences of trauma, increasing demand for joint replacement, and dental cosmetic procedures are some of the factors driving the surgical power tools market.
New technology surgical tools have ergonomic designs allowing better comfort and precision for surgeons. Light weight, curved handles and improved hand piece texture improves grip, thus minimizing surgical errors. Disposable surgical power tools are gradually becoming popular owing to cost efficiency and reduced chances of contamination. These devices are ideal for hospitals with less sophisticated sterilization equipment. Being single use, it becomes easier for hospital management to maintain assets, and escape sterilization schedules. Disposable power tools also act as a backup for mainstream devices, and avoid delay during sudden breakdown and emergencies. No large capital investment and service agreements are required, that makes disposables as best alternative in terms of cost efficiency. Due to these merits, large hospitals are giving increased importance to disposable tools.
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Asia Pacific and Latin America has become a prime destination for surgical power tools market in the recent past. Major factor driving the market in the region is the trend for medical tourism. Joint replacement surgeries can be performed in these regions in over half the cost in the U.S. Indian High Commission states that 18,000 Nigerians visited India on medical visas in 2014. Secretary of Tourism, Mexico recorded over 6.5 million visitors from the U.S for medical treatment in 2013. Thailand, Singapore, South Korea, Malaysia and India are key destination in Asia Pacific region. Taiwan Ministry of Health and Welfare also found that 50% of the patients traveling to the country for medical treatment came from China in 2012. Due to these factors the surgical power tools market is expected to grow rapidly in Asia Pacific and Latin America region.
The surgical power tools market is fragmented with more than 20 players operating at global as well as local level. Well established distribution channels and subtle differentiation in product portfolio makes the market competitive. Top five players in the market include Conmed, Stryker, Zimmer Biomet, DePuy Synthes, and Medtronic; while other prominent players include Arthrex, B. Braun, Aesculap, Aedor and Aygun.
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