Key vendors in the market to pursue inorganic growth strategies
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global surgical power tools market in their latest research report. This report also lists 25 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of sales of the surgical power tools.
This Technavio report, under the orthopedics and general medical devices vertical, is based on the synthesis, analysis, and interpretation of information about the global surgical power tools market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global surgical power tools market is characterized by the presence of several small, medium, and large vendors. Vendors in this market adopt price premiums to keep pace with the intensely competitive market. They are exploring various technological innovations to develop surgical power tools that can provide maximum comfort to the individuals concerned. Small companies are likely to venture into the global market with their unique, new products to address the various areas of surgical power tools market.
“There is an increased demand for robotic surgery in the market, stemming from the availability of a limited number of surgeons across the globe. Surgical robots work with multiple arms, increasing the demand for various surgical power tools. These robots are self-powered, computer-controlled devices that can be programmed to support the positioning and manipulation of surgical instruments including surgical power tools,” says Barath Palada, a lead analyst at Technavio for research on orthopedics and general medical devices vertical.
Top five vendors in the surgical power tools market space
CONMED
CONMED provides orthopedic products, specializing in arthroscopy and powered surgical instruments. Its products include arthroscopic surgery devices and powered surgical instruments, electrosurgery systems, and electrocardiogram (ECG) electrodes for heart monitoring. The company generated a revenue of around $719 million in FY2015 and invested more than $27 million in R&D.
Key products: Hall 50 Powered Instrument System for large bone, trauma, spine, cardiothoracic, small bone, and sports medicine procedures.
DePuy Synthes
DePuy Synthes designs and manufactures orthopedic and neurological devices and supplies for individuals, healthcare professionals, and caregivers worldwide. The company offers joint reconstruction solutions, pain management, minimally invasive solutions, therapeutic products, and biomaterials for customers worldwide. It is a subsidiary of Johnson & Johnson.
Key products: Anspach EG1 high speed handheld drill for spinal, neuro, and otologic procedures.
Medtronic
The company markets its surgical technologies through its restorative therapies group. This segment generated a revenue of almost $7 billion in FY2015. It accounted for more than 33% of the net sales of the company in FY2015. Medtronic’s products are used during precision cranial, spinal, ENT, and orthopedic surgeries. The company has manufacturing facilities in Arizona, California, Colorado, Connecticut, Florida, Indiana, Massachusetts, Minnesota, and New Jersey in the US. It operates sales offices in the US at 70 locations and 275 locations worldwide. As of April 2015, the company had 92,000 employees worldwide.
Key products: Surgical drills, Microsaws, and Handpieces.
Stryker
Stryker is a medical technology company. In FY2015, the company generated a revenue of almost $10 billion and invested $625 million in R&D, accounting for more than 6% of sales. The company offers its equipment through the MedSurg segment. The segment generated a revenue of almost $4 billion for FY2015 of which instruments generated more than $1 billion, accounting for 39% of the annual sales of the company. The products in the segment are also used for sports medicine and orthopedic trauma procedures.
Key products: Surgical equipment and surgical navigation systems; Implants used in joint replacement and trauma surgeries; Endoscopic and communications systems; Neurosurgical, neurovascular, and spinal devices; Patient handling and emergency medical equipment; and Other medical device that are used for various medical specialties.
Zimmer Biomet
Zimmer Holdings acquired Biomet in June 2015 for $14 billion and merged as Zimmer Biomet. This merger provides a wider and diversified product portfolio of musculoskeletal solutions with higher market share and ensures attractive cross-selling opportunities. The company generated a revenue of almost $6 billion in FY2015 and invested almost $269 million in R&D.
Key products: Orthopedic reconstructive, Spinal and trauma devices, Biologics, Dental implants, and Related surgical products.
Other prominent vendors in this market include Adeor Medical, Aesculap, Arthrex, Aygun Surgical Instruments, B. Braun, Ceterix Orthopaedics, De Soutter Medical, DSM Biomedical, Ermis, Gordian Surgical, Insurgical, In’Tech Medical, KLS Martin, MARIOTTI & C, Mazor Robotics, MedicMicro, MicroAire, Nouvag, OsteoMed, Peter Brasseler Holding, Portescap, Pro-Dex, Shangai Bojin Medical Instrument, Smith & Nephew, and Stars Medical Devices.
A more detailed analysis is available in the Technavio report, Global Surgical Power Tools Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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