Global Surgical Drills Market Size To Worth USD 2.01 Billion By 2033 | CAGR Of 5.47%
Category: HealthcareGlobal Surgical Drills Market Size To Worth USD 2.01 Billion By 2033 | CAGR Of 5.47%
According to a research report published by Spherical Insights & Consulting, the Global Surgical Drills Market Size is expected to grow from USD 1.18 billion in 2023 to USD 2.01 billion by 2033, at a CAGR of 5.47% during the forecast period 2023-2033.
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Browse key industry insights spread across 266 pages with 110 Market data tables and figures & charts from the report on the "Global Surgical Drills Market Size, Share, and COVID-19 Impact Analysis, By Product (Accessories and Instruments), By Application (Dental Surgeries, Ear, Nose, & Throat (ENT) Surgeries, Orthopedic Surgeries, and Others), By End-User (Ambulatory Surgical Centers, Hospitals and Clinics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/surgical-drills-market
The surgical drill market is a crucial component in various surgical procedures, including neurosurgeries, dental surgeries, ENT surgeries, and orthopedic surgeries. These instruments are used in craniotomy, skull base bone removal, spine surgery, and instrumentation to expose underlying neurovascular structures. The increasing number of surgical procedures, such as neurosurgeries and dental surgeries, has led to a surge in demand for surgical drills. The market is also experiencing growth due to the rise in sports-related injuries, particularly in lower extremities like ankles and knees. With a million young athletes treated annually for sports injuries globally, the demand for advanced orthopedic solutions, including surgical drills, is increasing. Advancements in precision, ergonomic designs, and smart technologies, such as battery-powered drills and robotic-assisted systems, are driving market growth, catering to the growing demand for minimally invasive procedures. However complex manufacturing processes may impede the growth of the market.
The instruments segment held the largest share of 59.22% in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the product, the global surgical drills market is categorized as accessories and instruments. Among these, the instruments segment held the largest share of 59.22% in 2023 and is predicted to grow at a significant CAGR during the predicted period. High-performance drill bits for surgical operations, those that generate anatomical structures, improve precision and cutting efficiency, reduce tissue stress, and are biocompatible, portable, user-friendly, and adaptable are all factors contributing to the segment's growth.
The orthopedic surgeries segment accounted for the highest market share of 39.68% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the application, the global surgical drills market is categorized as dental surgeries, ear, nose, & throat (ENT) surgeries, orthopedic surgeries, and others. Among these, the orthopedic surgeries segment accounted for the highest market share of 39.68% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The segment's growth is attributed to factors like the aging population, increased bone fractures, musculoskeletal diseases, and osteoarthritis, prompting the development of advanced drills that incorporate innovative technology for precision in orthopedic procedures.
The hospitals and clinics segment accounted for the highest market share of 45.18% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe.
Based on the end-user, the global surgical drills market is categorized as ambulatory surgical centers, hospitals and clinics, and others. Among these, the hospitals and clinics segment accounted for the highest market share of 45.18% in 2023 and is expected to grow at a significant CAGR throughout the projected timeframe. The demand for surgical drills in hospitals and clinics is driven by the high volume of procedures, chronic conditions like osteoarthritis and osteoporosis, and increasing orthopedic surgeries. The market growth is driven by minimally invasive surgeries requiring specialized equipment. Hospitals and clinics are primary locations for complex procedures, and substantial investment in healthcare infrastructure and technology supports their leading position.
North America is expected to hold the greatest share of the global surgical drills market over the forecast period.
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North America is expected to hold the greatest share of the global surgical drills market over the forecast period. The market growth in the medical sector is driven by the use of innovative surgical drill systems and advanced healthcare infrastructure, including modern hospitals and ambulatory surgery centers. Technological advances in robotic-assisted surgery, navigation technologies, and smart instrumentation are driven by the region's research ecosystem, academic institutions, and industry-academia partnerships, leading to market innovation and product development.
Asia Pacific is predicted to hold the fastest-growing region of the global surgical drills market throughout the estimated period. The Asia-Pacific surgical drills market is growing due to healthcare infrastructure improvements in India, China, and Japan, along with a thriving medical tourism sector. The market is driven by increasing orthopedic implant procedures, chronic conditions, and improved diagnostic tools. Technological advancements like 3D printing and smart sensors are also contributing to market expansion. Japan's market is set for rapid growth due to musculoskeletal issues, while China's market is highly competitive due to aging populations and health-focused practices.
Major key players in the global surgical drills market are Medtronic plc, DePuy Synthes, Zimmer Biomet Holdings Inc., NOUVAG AG, De Soutter Medical], Millennium Surgical Corp, Brasseler USA, Stryker Corporation, Smith and Nephew, CONMED Corporation, B. Braun Melsungen AG, ClearPoint Neuro, Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In January 2024, Myron Meditech launched the new website, https://Myronmeditech.com, showcasing advanced orthopedic bone drill technology and a range of high-quality instruments, including bone drillbits and surgical saws, marking a significant advancement in orthopedic care.
- In January 2023, Stryker launched its CD NXT System, a revolutionary power tool that offers real-time depth measurement as the surgeon drills, ensuring fast, accurate, and consistent digital depth measurement across various procedures. This technology streamlines instrumentation and surgical steps, eliminating errors associated with manual depth gauges. The system operates independently of the implant system, allowing broad market use.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global surgical drills market based on the below-mentioned segments:
Global Surgical Drills Market, By Product
- Accessories
- Instrument
Global Surgical Drills Market, By Application
- Dental Surgeries
- Ear Nose, & Throat (ENT) Surgeries
- Orthopedic Surgeries
- Others
Global Surgical Drills Market, By End-User
- Ambulatory Surgical Centers
- Hospitals and Clinics
- Others
Global Surgical Drills Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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