New York, USA, August 30, 2021 (GLOBE NEWSWIRE) – According to a recent report from Research Dive, the global surgical power tools market should reach $ 3,237.5 million by the end of 2027 to a 6.4% CAGR, rising from $ 1,960.4 million in 2019. The full report gives a brief overview of the current market scenario including other aspects such as market dynamics, growth and restraining factors, challenges and market conditions. opportunities during the forecast period. The report also offers the market figures, which makes it easier and more efficient for new participants to understand the real-time scenario of the market.
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Factors Affecting CAGR Numbers Before and During COVID-19
The report reveals the real-time CAGR recorded by the market during the pandemic. According to the report, the surgical power tools market has registered a CAGR of 6.4% in recent months, compared to 5.8% in the pre-COVID-19 scenario. The main factor improving the growth of the market is the growth in demand for surgical tools in the healthcare industry during the coronavirus pandemic.
Factors Affecting Market Size in Pre-COVID and Real-Time Scenario
The real-time revenue of surgical power tools has been increased from pre-COVID-19 estimates, according to the report. The real-time market size reached a revenue of $ 2,103.4 million, down from an estimated $ 2,068.0 million in a pre-Covid analysis. The main factor behind this growth is the increase in osteoporosis cases worldwide. During the pandemic, to meet the growing demand for digital surgical tools, manufacturing houses are focusing on the development of surgical power tools. These factors are contributing to the market revenue growth during the pandemic.
Strategic mergers and acquisitions, in the context of the COVID-19 pandemic, to promote the development of the global market for surgical power tools
Based on the region, the global surgical power tools market is classified into North America, Europe, Asia-Pacific, and LAMEA. The North American surgical power tools market was valued at $ 1,010.1 million in 2027 and is expected to grow at a growth rate of 6.0% during the analysis period. The growth of the North American surgical power tools market is primarily driven by the growing number of geriatric disorders, the growing emphasis on technological innovations, and the growing investments in R&D and innovations, particularly in the United States and the United States. Canada.
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Major Key Players in the Surgical Power Tools Market
The global surgical power tools market is expected to maintain growth after the pandemic due to the ubiquitous bone diseases and other surgical needs. Major market players include –
- MatOrtho Limited
- Exactech, Inc.
- From Soutter Medical
- Desoutter Industrial Tools.
- Allotech Co., Ltd.
- Medical Devices Business Services, Inc.
- Zimmer Biomet
- B. Braun Melsungen SA
These players focus on research and development, mergers and acquisitions, and other strategies to support market growth in the years to come.
For example, in January 2021, Stryker, an American multinational medical technology company, completed the acquisition of OrthoSensor, Inc., a privately held Florida-based company. OrthoSensor, Inc., is one of the leading organizations in the digital advancement of musculoskeletal care and sensor technology for total joint replacement. Stryker aims to empower physicians with inclusive data-driven solutions. Educate yourself and get quick access to the summary report of the best business development strategies