The surgical drill global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Surgical Drill Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The surgical drill market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to initial market expansion, healthcare spending trends, pioneering robotics integration, regulatory framework establishment, early-stage research & development..
The surgical drill market size is expected to see strong growth in the next few years. It will grow to $1.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to global market penetration, increased healthcare spending, integration of robotics, adherence to regulatory standards, investment in research & development.. Major trends in the forecast period include increased surgical procedures, rise in geriatric population, demand for minimally invasive surgeries, enhanced portability and ergonomics, r&d investment..
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Scope Of Surgical Drill Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Surgical Drill Market Overview
Market Drivers –
The growth in the number of surgical procedures is expected to propel the growth of the surgical drill market. Surgical procedures, usually referred to as surgery or surgical interventions, are performed by skilled medical professionals to treat, detect, or cure various illnesses or injuries. Surgical drills are employed in multiple surgical procedures to create precise openings or holes in bone, tissue, or rigid structures in several applications, including cardiovascular and gynecologic surgery and knee replacement procedures. For instance, according to the 2022 Australian Orthopedic Association National Joint Replacement Registry (AOANJRR) Annual Report, in 2021, the number of hip, knee, and shoulder joint replacements increased by 8,411 procedures (7%) compared to the previous year (2021). Therefore, the rise in the number of surgical procedures is driving the surgical drill market.
Market Trends —
Major companies operating in the surgical drill market are developing innovative technologies such as the shrill shaver drill system to meet larger customer bases, increase sales, and increase revenue. The shrill shaver drill system is designed to remove soft tissue and bone and is highly effective in treating degenerative spine stenosis. For instance, in June 2021, Joimax GmbH, a German-based company engaged in full-endoscopic and minimally invasive spinal surgery technologies, launched a new generation of shrill shaver drill system. The latest system incorporates a glass touch panel for convenient maintenance and cleaning, offering enhanced advantages such as a new Shrill console that delivers up to 10,000 rpm and precise torque for controlled and efficient tissue ablation. Additionally, it features an adjustable acceleration ramp that can be programmed to meet individual requirements, incorporates new diamond blades, and has undergone improvements in bone-related functions. The device has handle and blade detection that can automatically detect connected handpieces and adjust them to the corresponding parameters.
The surgical drill market covered in this report is segmented –
1) By Product: Pneumatic Drill, Electric Drill, Battery Powered, Accessories
2) By Material: Re-usable, Disposable
3) By Application: Orthopedic Surgeries, Dental Surgeries, Ear, Nose, And Throat (ENT) Surgeries, Neurology Surgery, Other Applications
4) By End-User: Hospitals and Clinics, Ambulatory Surgery Centers, Other End-Users
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Regional Insights —
North America was the largest region in the surgical drill market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical drill market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies —
Major companies operating in the surgical drill market report are Braun Melsungen AG, Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Altra Industrial Motion, Arthrex Inc., GPC Medical Ltd., CONMED Corporation, Bioanalytical Systems Inc., Exactech Inc., SOFEMED International, Orthopromed Medical Supplies Inc., De Soutter Medical Ltd., ClearPoint Neuro Inc., MatOrtho Limited, AlloTech Co.Ltd., MicroAire Surgical Instruments LLC, Brasseler USA, Millennium Surgical Corp., Nouvag AG, Aygun Surgical Instruments Co.Inc., Adeor medical AG, Traumec Health Technology, Shanghai Bojin Medical Instrument Co. Ltd., Cliniva Healthcare
Table of Contents
1. Executive Summary
2. Surgical Drill Market Report Structure
3. Surgical Drill Market Trends And Strategies
4. Surgical Drill Market — Macro Economic Scenario
5. Surgical Drill Market Size And Growth
…..
27. Surgical Drill Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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