Published Date: January 24, 2023
Surgical Power Tools Market size is expected to reach USD 3.5 billion by 2032, as per a new research report announced by Global Market Insights Inc.
Increasing incidences of neurological diseases will have a significant impact on the surgical power tools industry outlook. Over the last decade, neurological disorders have emerged as one of the leading causes of disability and mortality contributing to a massive healthcare burden. For instance, according to the American Neurological Association, the burden of neurological disorders in the U.S. exceeds USD 800 billion each year. The growing geriatric population is further increasing the susceptibility to neurological health conditions. Neurosurgery procedures rely on advanced surgical power tools to address the abnormal functioning of nerves, blood vessels, and brain tissues.
Surgical power tools market share from disposables is projected to exhibit a 6% CAGR between 2023-2032. Increasing demand for disposable surgical power tools can be attributed to the ongoing innovation and development spearheaded by industry players to develop novel and affordable products. Moreover, a rise in supportive government initiatives and rising awareness regarding infections as well as appropriate usage of disposable surgical devices will augment the segment growth. Disposable medical devices and consumables are experiencing tremendous demand across developed and developing countries with increasing healthcare needs and high hospitalization rates.
Battery-driven power tools segment was valued at more than USD 735 million in 2022. Battery technology is gaining significant traction in medical tools and devices as it eliminates the need for a constant electricity source and the integration of lead. These power tools offer a myriad of benefits over traditional surgical systems including improved durability, reliability, and ease of sterilization. Recent advancements in battery technology are paving the way for cordless battery-powered surgical tools. For instance, battery-based cast saws ensure multiple digital functions and user-friendliness. These tools also provide greater flexibility and versatility along with the reduction of noise and vibration.
Browse key industry insights spread across 260 pages with 431 market data tables & 16 figures & charts from the report, “Surgical Power Tools Market Size By Product (Handpiece, Disposables {Drills/Perforators, Saws, Staplers, Reamers, Blades, Burrs, Shavers}, Accessories), By Technology (Electric-operated Power Tools, Battery-driven Power Tools, Pneumatic Power Tools), By Device Type (Large Bone Power Tools, Medium Bone Power Tools, Small Bone Power Tools, High Speed Drilling Systems), By Application (Orthopedic Surgery {Spine, Trauma, Joint, Craniomaxillofacial}, Dental Surgery, ENT Surgery, Neurology Surgery, Cardiothoracic Surgery), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/surgical-power-tools-market
Surgical power tools market revenue from large bone power tools is estimated to reach over USD 1 billion by 2032. Rapid adoption of these types of power tools can be credited to the increasing number of large bone procedures performed, including hip replacement, drilling, knee replacement reaming, driving screws, and intramedullary nailing. Additionally, healthcare professionals are increasingly using large bone power tools for performing trauma surgeries. Due to the growing focus on the reduction of mortality associated with road accidents and rising investments in trauma care hubs worldwide, the adoption of large bone power tools is anticipated to escalate.
Dental surgery application segment in surgical power tools market to expand at 6.2% CAGR from 2023-2032. Rising prevalence of dental disorders and the rapid influx of investments in 3D printing technology to manufacture dental surgical instruments will complement the industry outlook. Additionally, favorable support from Dental Support Organizations (DSOs) is enabling in-house treatments along with oral maxillofacial, endodontic, and orthodontic surgery. Moreover, recent breakthroughs in instrumentation, rotary endodontics, obturation, and surgical techniques are advancing endodontic treatment to offer improved patient experience.
North America region has a massive footprint of leading manufacturers along with the growing need for surgical procedures. In recent years, countries such as the U.S. and Canada have reported a dramatic rise in the prevalence of orthopedic disorders, accelerating the demand for advanced surgical instruments among surgeons. Furthermore, rapid adoption of minimally invasive surgeries due to growing patient preference for non-invasive procedures is necessitating novel product launches. As a result, regulatory agencies such as the FDA are increasingly encouraging innovation by approving new surgical technologies.
Stryker Corporation, Orthopromed, iMEDICOM, Nouvag AG, MatOrtho, Exactech, Medtronic, B. DeSoutter Medical, Adeor Medical AG, AlloTech Co. LTD, Smith and Nephew PLC are some of the leading companies in the global surgical power tools industry. These participants are foraying into strategic deals including mergers and acquisitions.
Sumant Ugalmugle, Rupali Swain