The Worldwide Surgical Drill Industry is Expected to Reach $872.9 Million at a 5.26% CAGR
DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "Surgical Drill Market, Global Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Surgical Drill Market will reach US$ 872.9 Million at a CAGR of 5.26% by 2027, according to the publisher. A surgical drill is a tool used to bore holes inborn to attach surgical pins, plates, and screws or remove skull base bones and reshape teeth in preparation for a fall.
It is usually built from carbon steel, stainless steel, aluminum, or titanium. It is available in different dimensions in anything from dental to neurological surgeries, which can be used multiple times after sterilization. Surgical drills are used to boost the skull flap, to make holes in the bone so that bone plates can be stable with screws, and eliminate the skull base bones.
Worldwide Surgical Drill Market was US$ 675.7 Million in 2022
The drill device can be manual or electric. According to NHTSA, an estimated 42,915 people died in motor vehicle traffic crashes in 2021 from the 38,824 fatalities in 2020. Such as the increase in the occurrence of road accidents, rise in healthcare expenditures, technological progression, demand for dental plates, rises in prevalence from the dental industry, and a hike in the number of surgical operations is expected to reach the growth of the surgical drill market.
In the year 2022, according to World Health Organization (WHO), globally, it is estimated that 2 billion people suffer from caries of permanent teeth and 514 million children suffer from caries of primary teeth. However, this industry has few restraining factors such as insufficient quality control, high cost of surgery, variable raw material supply, and lack of advanced surgical instrument facilities.
Accessories will Capture Highest Market Share in the Forecast Period
Based on product type, the global surgical drill market is classified into pneumatic, electric, battery-powered, and accessories. The accessories hold the largest market share during the forecast period due to the development of surgical drills. In addition, the increasing popularity of dental disorders worldwide is a major factor driving the growth of the market.
Orthopedic Surgery will drive the Surgical Drill Industry the in Upcoming Years
By application, the application market has been divided into orthopedic Surgery, dental Surgery, ENT surgery, Neurology surgery, and others. Orthopedic Surgery dominates the largest market revenue in the accounting period due to increasing old age populations, and relevance-borne diseases have driven the growth of this segment.
Hospital Segment will lead the End-user Market
Based on the End User, The Global Surgical drill market is bifurcated into hospitals, ambulatory care, and others. The hospitals hold the maximum market revenue due to high-quality infrastructure facilities, advanced technology enhancement, better healthcare services, and an increasing number of operating methods, which are significant factors that boost this segment.
North America will lead the Global Surgical Drills Industry
In terms of region Global Surgical drill market has been segmented into five categories: North America, Europe, Asia Pacific, Latin America, and Middle East &Africa. North America's has largest market share due to improvements in the healthcare industry, R&D investment in the healthcare sector, expanding technology enhancements, changing lifestyle, and rising number of surgical procedures drive the demand for surgical drill market.
Key Market Players
Key players in the Global Surgical Drill market include Medtronic, Smith & Nephew Plc., Johnson & Johnson, B. Braun Melsungen, Stryker, Zimmer Biomet, Conmed Corporation, and Altra Industrial Motion Corp.
In 2022, Zimmer Biomet Holding announced a first-of-its-kind agreement with HSS for an innovation center for Artificial Intelligence in Robotic Joint Replacement. Through collaboration, ZB and HSS aim to develop new decision-helping instruments, etc.
In Dec 2022, Medtronic declared that the U.S. Food and Drug Administration (FDA) had dismissed the use of navigated interbrain high-speed drills with the Robotic Guidance system.
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. Surgical Drill Market
6. Market Share - Surgical Drill Analysis
6.1 By Product Type
6.2 By Application
6.3 By End User
6.4 By Region
7. Product Type - Surgical Drill Market
7.1 Pneumatic Drills
7.2 Electric Drills
7.3 Battery Powered Drills
8. Application - Surgical Drill Market
8.1 Orthopedic Surgery
8.2 Dental Surgery
8.3 ENT (Ear, Nose, and Throat) Surgery
8.4 Neurology Surgery
9. End User - Surgical Drill Market
9.2 Ambulatory Care Centres
10. Region - Surgical Drill Market
10.1 North America
10.3 Asia Pacific
10.4 Latin America
10.5 Middle East and America
11. Key Players - Surgical Drill Market
11.1.2 Recent Development
11.2 Smith & Nephew plc
11.2.2 Recent Development
11.3 Johnson & Johnson
11.3.2 Recent Development
11.4 B. Braun Melsungen
11.4.2 Recent Development
11.5.2 Recent Development
11.6 Zimmer Biomet
11.6.2 Recent Development
11.7 Conmed Corporation
11.7.2 Recent Development
11.8 Altra Industrial Motion Corp.
11.8.2 Recent Development
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SOURCE Research and Markets