Prevalence of Chronic Diseases that Need Surgical Processes Spurs Sales in Surgical Drills Market, Valuation to Rise at CAGR of 4.7% during 2018-2026: TMR

- Battery-powered surgical drills highly sought-after instrument for surgeons, North America and Asia Pacific lucrative markets

- Strides made by medical tourism propels demand in surgical drills market, rapid uptake in orthopedics presents value-grab opportunities for players

ALBANY, N.Y., April 8, 2021 /PRNewswire/ -- Surgical drills have become an important surgical tool in various boring procedures widely in orthopedic, neurosurgery, ENT, and dental. In particular, orthopedic surgeries have seen rapidly rising use of various technologies in surgical drills over the past few years. The adoption has risen on the back of growing number of surgeries that need orthopedic implants. Over the past few years, a few striking advancements in relation to design and power options for operating surgical drills have contributed to revenue prospects for manufacturers and vendors in the surgical drills market. The products have emerged in durability and maintenance. 

The global valuation of the surgical drills market is projected to reach US $ 622.0 Mn by 2026, representing, representing CAGR of 4.7% during 2018–2026.

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Battery-powered surgical drills have gathered remarkable traction in recent years, more notably in orthopedics.

Key Findings of Surgical Drills Market Study

• Cost-effective and Low-maintenance Devices Gain Attention

The surgical drills market is witnessing a rapidly increasing array of technologically improved instruments. Battery-powered surgical drills have gathered wide traction among surgeons to improve the final outcomes in orthopedics and neurology. Further, medical device manufacturers are keen on offering new features than keep pace with the changing techniques used by surgeons in all medical specialties, thereby boosting the market. Instrumentation for spine surgeries are a glaring example that has witnessed some remarkable advances. The demand for surgical drills for the closure of cranial implants is a key trend.

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• Proliferating Demand for Surgeries to Manage Chronic Diseases Boosts Market

The prevalence of chronic diseases, and their alarming burden in developing and developed nations, is one of the key aspects in propelling the number of patients undergoing surgeries. The burden of obesity is a case in point. Also, orthopedic disorders in elderly are becoming more prevalent than ever. A great deal of the trend is due to the change in lifestyle. Coupled with access to quality healthcare care in developing regions of the world has bolstered the business proposition of surgical drills in populations.

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• Orthopedics Surgeries See Vast Uptake

Growing number of patients who need implants in dentistry is a key trend in the surgical drills market. The demand has expanded on the back of strides being made in health care and radiology. The morbidity and burden of osteoporosis has also grown in various developing and emerging economies over the recent years. This also is driving the uptake of advanced surgical drills in orthopedics. Growing population suffering with fractures in developed regions are also promising trend for players in the surgical drills market. Surgeons in these markets are rapidly adopting technologically advanced surgical drills to improve their workflow and reduce intraoperative complications in their patients. These technological advancements relate to surgical positioning of the hand device and navigation features. Expanding understanding of traumatology and advances in electronics are also boosting technological advancements.

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Surgical Drills Market: Key Driving Factors and Avenues

• Growing spending on healthcare expenditure is a key trend.
• Rise in adoption of advanced instruments for improving surgical outcomes boosting sales in the surgical drills market.
• Rise in medical tourism is a key trend in the surgical drills market.

Surgical Drills Market: Key Participants

Companies with prominent presence in several geographies include

• Zimmer Biomet Holdings, Inc.
• Stryker Corporation
• B.Braun Melsungen AG.
• AlloTech Co. Ltd.
• CONMED Corporation
• De Soutter Medical
• DePuy Synthes
• Medtronic plc
• Zimmer Biomet Holdings, Inc.

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

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