A power tool is a key instrument in the armamentarium of the operating room for many orthopedic surgeries. The adoption rates for orthopedic power tools vary in different regions, mainly due to price sensitivity.
Albany, NY (PRWEB) July 15, 2014
A power tool is a key instrument in the armamentarium of the operating room for many orthopedic surgeries. The adoption rates for orthopedic power tools vary in different regions, mainly due to price sensitivity. Globally, and driven by the orthopedic industry's continued innovation in cordless battery-powered systems as well as a better understanding of corded systems downsides, the usage of pneumatic-powered tools has been declining in the past decade as surgeons adopt premium-priced electric and, more significantly, battery-powered systems. In contrast, in developing countries, electric- and pneumatic-powered tools currently represent highly valued equipment for orthopedic surgeons; moreover, this equipment should continue to remain important, especially in light of the developing countries healthcare systems that cannot bear the substantial costs associated with capital equipment upgrades. Yet, a slow shift to battery-powered systems will still occur in these emerging economies, as players introduce the new-generation systems into these countries in the coming years and invest heavily in marketing and promotion.
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Moving forward, industry consolidation and intense competition in the orthopedic power tools market will cause more and more companies to increase their research efforts to differentiate their products from the lower-end competitors. Instead of focusing on the capital equipment, players are expected to shift their marketing efforts to high-margin consumables. By implementing a consumables-based recurring-revenue business model, companies are able to establish a stable revenue stream while driving handpiece or capital equipment placements via capital sales and/or rentals. Meanwhile, it is equally important for companies to seek new revenue streams as delays in capital equipment purchases weaken the revenue growth.
GlobalData analyzes large bone, small bone, and high-speed power tools segments in this report. Within each segment, the adoption level and sales unit of battery-, electric-, and pneumatic-powered systems, and the revenue stream from capital equipment sales, consumables sales, and repair service are tracked and estimated based on GlobalDatas primary and secondary research.
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Key Questions Answered
- As the adoption of battery-powered tools increases further in the next five years, surgeons will be anticipating more efforts from the supply side to push the frontier in battery-powered systems. (Q).What are the current adoption levels of different types of large bone, small bone, and high-speed systems in different geographies?
- There is an increased involvement with hospitals C-level management in the procurement process of premium systems. These senior hospital executives often need to assess whether the procedure mix and payer mix can support the purchase of certain orthopedic power tools. (Q).How are hospitals cost-containment measures affecting the utilization of different types of power tools?
- It is an increasing trend among large orthopedic vendors to leverage their market position by offering bundle discounts for hospital orthopedic departments upon the purchase of a combination of implants, instruments, and capital equipment, rather than giving a discounted price for power tools. (Q).How will hospitals purchasing plans for capital equipment evolve in the upcoming years?
- The current small bone market offers a welcomed respite from the challenging large joint reconstruction and spinal fusion space. (Q).Does the small bone power tools segment represent an area where more attention should be devoted to?
- Recently, the single-use power tools have started to attract media attention. Despite the aggressive marketing efforts seen from the companies, key opinion leaders indicated that their cost-effectiveness remains to be justified at this stage. (Q).What are surgeons attitudes about the single-use orthopedic power tools?
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Reasons to buy
- What Do Physicians Think quotes provide a unique insight into how healthcare professionals are reacting to events within the industry, and what their responses could mean for industry strategists. This information is essential for all strategic decision makers in every organization allowing them to act on high quality information.
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