Surgical Drills Market Highlights
Various factors are propelling the surgical drills
market growth. Some of these factors according to the Market Research Future
report, include rising medical tourism, growing elderly population, changing
lifestyle, changing eating habits of consumers, excessive alcohol consumption,
rising number of dental and orthopedic surgeries, and rising awareness about
dental hygiene. Additional factors pushing market growth include high
disposable income, increasing prevalence of chronic diseases which need surgical
procedures, upgrading of healthcare equipment and infrastructure, and constant
development in surgical drill technology.
Surgical Drills Market Size was valued at USD 0.9 billion in 2022 and is projected to grow from USD
0.95 Billion in 2023 to USD 1.50 billion by 2032, exhibiting a compound annual
growth rate (CAGR) of 5.9% during the forecast period (2023 - 2032).
A surgical drill, simply put, is a device used for
boring holes in bone for attaching screws, plates, or surgical pins or
reshaping teeth and removing decay for a filling. These precision instruments
help to accommodate different drill bits for catering an array of applications
in anything from neurological to dental surgeries. Surgical drills have an
extensive range of applications, including ENT, dental surgeries, neurosurgery,
orthopedic surgery, and much more.
On the contrary, scarcity of skilled medical
professional and severe government regulations are factors that may restrict
the surgical drills market growth over the forecast period.
Key Players
The surgical drills market players report
include Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic
plc, DePuy Synthes, De Soutter Medical, CONMED Corporation, B.Braun Melsungen
AG, AlloTech Co.Ltd. Arthrex Inc., and Adeor medical AG, among others.
Regional Analysis
Based on the region, the surgical drills market
report covers the latest trends and growth opportunities across Europe, the
Asia Pacific, the Americas, and the Middle East and Africa. Of these, the
Americas will lead the market over the forecast period. This is owing to
developed healthcare infrastructure, high physician and patient awareness about
efficiency and safety of surgical drills, and an increasing number of orthopedic surgeries. Moreover, increasing awareness
regarding dental hygiene, advanced treatment procedures, high disposable
income, and state-of-the-art medical infrastructure are also boosting the
market growth in this region.
The surgical drills market in Europe is predicted
to have the second-largest share in the market over the forecast period. This
is chiefly due to the rising support from the government for device
manufacturers.
The surgical drills market in the APAC region is predicted to grow at the fastest pace over the
forecast period. This is owing to increase in medical tourism, rising awareness
among people about healthcare and surgical devices, improved healthcare
infrastructure, growing medical sector, rise in government funding for
healthcare, increasing medical device companies, and rising research and
development expenditure.
The global surgical drills market in the Middle
East and Africa is predicted to have minor growth over the forecast period.
Market Segmentation
The MRFR report offers a wide segmental analysis of
the surgical
drills market outlook based
on application, product, and end user.
Based on products, the surgical drills market is
segmented into accessories, battery-powered drills, electric drills, pneumatic
drills, and others. Of these, the pneumatic drills segment will have the
largest share in the market over the forecast period.
Based on application, the surgical drills market is
segmented into dental surgery, ENT, neurosurgery, orthopedic surgery, and
others. Of these, the orthopedic surgery segment will dominate the market over
the forecast period.
Based on end users, the surgical drills market is
segmented into academic and research institutes, ambulatory surgical centres,
hospitals and clinics, and others. Among these, the hospitals and clinics
segment will lead the market over the forecast period.
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