The Surgical Power Tools Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Surgical Power Tools Global Market Report 2024, The surgical power tools market size has grown strongly in recent years. It will grow from $2.2 billion in 2023 to $2.34 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to early surgeon training initiatives, regional adoption dynamics, foundational regulatory standards..
The surgical power tools market size is expected to see strong growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to integration of digital and robotic features, market penetration strategies, enhanced surgeon training programs, healthcare infrastructure expansion.. Major trends in the forecast period include focus on safety and precision, demand for specialized surgical techniques, increased adoption of robotics..
The rise in the number of knee replacement and hip replacement surgeries is driving the growth of the surgical power tools market. Knee replacement and hip replacement are surgical procedures that involve removing damaged or diseased joint components and replacing them with artificial prosthetic implants. Surgical power tools are helpful in knee replacement and hip replacement surgeries as they enable drilling, sawing, reaming, screw insertion, and shaping bones. 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 knee replacement and hip replacement surgeries is expected to propel the growth of the surgical power tools market.
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The surgical power tools market covered in this report is segmented –
1) By Product: Surgical Drills, Electric Pen Drive
2) By Technology: Electric-Operated Power Tools, Battery -Driven Power Tools, Pneumatic Power Tools, Other Technologies
3) By Usage: Reusable Tools, Disposable Tools
4) By Application: Orthopedic Surgery, Neurosurgery, Dental and Craniomaxillofacial Surgery, Ear, Nose And Throat (ENT) Surgery, Cardiothoracic Surgery, Plastic And Reconstructive Surgery
5) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
Major companies operating in the surgical power tool market are developing innovative products with advanced technologies, such as the CD NXT power tool systems, to provide real-time depth measurement in the market. The CD NXT System is a patented technology that offers real-time depth measurement while the surgeon is drilling and enables quick, precise, and uniform digital depth measurement in a variety of procedures. For instance, in March 2023, Stryker Corporation, a US-based multinational medical technology company, launched the CD NXT System. The system has innovative features, including one-step drilling and measurement, automatic cortex-to-cortex measurement and digital readout, and compatibility with all legacy cordless driver attachments. This technology provides real-time depth measurement as the surgeon drills, allowing for fast, accurate, and consistent digital depth measurement across various procedures.
The surgical power tools market report table of contents includes:
1. Executive Summary
2.Surgical Power Tools Market Characteristics
3.Surgical Power Tools Market Trends And Strategies
4.Surgical Power Tools Market analysis
5.Surgical Power Tools Market Size And Growth
6. Surgical Power Tools Segmentation
7. Surgical Power Tools Regional And Country Analysis
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27.Surgical Power Tools Competitive Landscape And Company Profiles
28.Surgical Power Tools Key Mergers And Acquisitions
29.Surgical Power Tools Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Johnson & Johnson
- 3M
- Medtronic PLC
- Becton Dickinson and Company (BD)
- Stryker Corporation
- Zimmer Biomet Holdings Inc.
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