Surgical Power Tools Market to Reach $514.7 Million by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 19, 2023 /PRNewswire/ -- The global surgical power tools market size is expected to reach USD 514.7 million by 2030, to expand at a CAGR of 6.1% from 2023 to 2030 based on a new report by Grand View Research, Inc. Technological advancements in surgical devices, and an increasing number of facial and head injuries, followed by the rise in global geriatric population are some of the major factors driving the growth of market. However, the adoption of patient-specific devices can be limited due to a lack of suitable reimbursement, as healthcare providers may be unsure about adopting these devices due to cost-related concerns.

Key Industry Insights & Findings from the report:

• Based on product, the surgical drills segment accounted for the largest market share of 85.6% in 2022. The electric pen drive segment is expected to witness the fastest CAGR of 6.4% from 2023 - 2030.
• Based on end-use, the hospitals segment accounted for the largest market share of 57.2% in 2022. The others segment is expected to witness the fastest CAGR of 6.5% over the forecast period.
• North America accounted for the largest revenue share of nearly 39.5% in 2022 owing to the technologically developed health infrastructure & presence of key companies in the region. Asia Pacific is expected to witness the fastest growth rate of 6.5% over the forecast period.

Read full market research report, "Surgical Power Tools Market Size, Share & Trends Analysis Report By Product (Surgical Drill, Electric Pen Drive), By End-use, (Hospitals, Ambulatory Surgical Centers, Others) By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Surgical Power Tools Market Growth & Trends

The surgical power tools are used in a variety of surgical procedures, including the treatment of facial fractures, cranial defects, and tumors, which include procedures such as reconstructive surgery, orthognathic surgery, & trauma surgery. During the pandemic, many elective surgeries were postponed or cancelled, resulting in a decline in the demand. For instance, in 2021, around 10 million people in the U.K. were waiting for surgical treatments, which was an increase from 4 million prior to the pandemic. Similarly, over 28 million surgical procedures were cancelled or postponed during the pandemic, creating a backlog that took a year to clear, and this figure could have been worse if the global lockdown was extended.

Surgical Power Tools Market Segmentation

Grand View Research has segmented the global surgical power tools market based on product, end-use, and region:

Surgical Power Tools Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

• Surgical Drills
• Electric Pen Drive

Surgical Power Tools Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Ambulatory Surgical Centers
• Others

Surgical Power Tools Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway
• Asia Pacific
• Japan
• China
• India
• Australia
• Thailand
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players of Surgical Power Tools Market

• DePuy Synthes (Johnson & Johnson)
• Orthopromed Inc.
• B Braun
• CONMED Corporation
• Zimmer Biomet
• Stryker
• KLS Martin Group
• Medtronic

Check out more related studies published by Grand View Research:

• Neurosurgery Surgical Power Tools Market - The global neurosurgery surgical power tools market size is anticipated to reach USD 1.44 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.6%. Increasing incidence of Traumatic Brain Injuries (TBI), Acquired Brain Injuries (ABI), other neurological disorders, and increasing adoption of minimally invasive neurosurgeries is anticipated to aid growth.
• Surgical Stapling Devices Market - The global surgical stapling devices market size is expected to reach USD 9.89 billion by 2030 expanding at a CAGR of 9.33% from 2023 to 2030 according to a new report by Grand View Research, Inc. Several factors such as increasing need for wound and tissue management devices, introduction of advanced technologies, rising demand for minimally invasive surgery and robotic surgery, and increasing obesity and awareness about bariatric surgeries are estimated to contribute towards the market growth.
• Hand-held Surgical Instruments Market - The global hand-held surgical instruments market size is expected to reach USD 9.6 billion by 2030 at a 7.2% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of chronic diseases, such as; cancer, chronic heart, neurological, orthopedic disorders is the leading factor driving the demand for hand-held surgical instruments market. According to the American Cancer Society, more than 16.9 million Americans with a history of invasive cancer were alive in January 2019.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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