Global High-Speed Surgical Drill Market Size By Type(Pneumatic High-Speed Surgical Drill, Electric High-Speed Surgical Drill), By Application(Orthopedic, Neurology, Dental), By Geographic Scope And Forecast
Global High-Speed Surgical Drill Market Size By Type(Pneumatic High-Speed Surgical Drill, Electric High-Speed Surgical Drill), By Application(Orthopedic, Neurology, Dental), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global High-Speed Surgical Drill Market Size By Type(Pneumatic High-Speed Surgical Drill, Electric High-Speed Surgical Drill), By Application(Orthopedic, Neurology, Dental), By Geographic Scope And Forecast
High-Speed Surgical Drill Market Size and Forecast
High-Speed Surgical Drill Market size was valued at USD 584 Million in 2023 and is projected to reach USD 854.74 Million by 2030, growing at a CAGR of 4.3% during the forecast period 2024-2030.
The increasing number of surgical operations and development in healthcare services has propelled the growth of the high-speed surgical drill market globally. The Global High-Speed Surgical Drill Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
High-Speed Surgical Drill Market Definition
The market for high-speed surgical drills is a subset of the medical equipment sector. These tools are frequently used in a variety of surgical procedures, such as orthopedic, neurosurgery, and dental operations, to make holes or apertures in bone tissue.
With speeds ranging from 50,000 to 100,000 revolutions per minute (RPM), high-speed surgical drills may swiftly and precisely cut through bone tissue with little harm to neighboring tissues. They are available in a range of sizes and configurations to accommodate various surgical applications and are normally driven by electricity or air pressure.
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High-Speed Surgical Drill Market Overview
COVID-19 has had a significant impact on the high-speed surgical drill market. Due to the global pandemic, this market faced a decline in its growth due to postponed elective surgeries. However, this market is expected to grow in the forecast year.
There are several factors that are driving the growth in the high-speed surgical drill market. One of the factors that is driving market growth in the high-speed surgical drill market is the increasing popularity of minimally invasive surgical techniques, which includes the use of fast surgical drills to make smaller cuts. Besides this, the increasing cases of bone-related injuries, and diseases including osteoporosis and fractures, which need surgical treatment, is also one of the main contributors in the growth. moreover, market growth is being further fueled by advanced technological developments in high-speed surgical drill design and materials, such as the creation of lightweight and ergonomic instruments. The need for high-speed surgical drills is also being driven by the expanding healthcare infrastructure and rising healthcare spending in developing nations. Additionally, there are possibilities for manufacturers due to the increase in outpatient procedures, which need for portable and effective surgical instruments.
Despite having possibilities for growth, there are significant limitations in the high-speed surgical drill industry. One significant obstacle is the expensive price of these devices, which might prevent their adoption in underdeveloped nations and in healthcare facilities with lesser budgets. Medical device approval procedures and their complicated regulatory environment may make it difficult for new competitors to enter the market. High-speed surgical drills may only be used in some surgeries due to patient safety worries and the possibility of surgical site infections. Finally, market expansion may be hampered by a shortage of qualified healthcare workers who are trained to use high-speed surgical drills.
For manufacturers and healthcare providers, the high-speed surgical drill market has various opportunities for expansion. As the use of robotic surgery systems increasing, manufacturers will have more opportunities to create high-speed surgical drills that can be integrated with robotic surgical systems. Besides this, the growing need for minimally invasive surgical treatments, which use high-speed surgical drills to make accurate incisions with little harm to surrounding tissue, is also one of the significant possibility. It can be observed that the technical advancement is providing plenty of opportunities of growth in this market. Finally, as healthcare costs rise in emerging nations, firms have more opportunities to penetrate these markets.
The high-speed surgical drill market is segmented by type, application, and geography.
By Type
• Pneumatic High-Speed Surgical Drill• Electric High-Speed Surgical Drill
By Application
• Orthopedic• Neurology• Dental• Others
By Geography
• North America• Europe• Asia Pacific• Latin America• Middle East and Africa
Key Players
The key players of the high-speed surgical drill market are Medtronic, Stryker, Brasseler, AYGUN Co., Inc., Conmed, Aesculap, J&J, Zimmer Biomet, Smith & Nephew, and Nouvag AG.
Key Developments
In July 2021, Zimmer Biomet Holding announced to launch of the Zimmer Biomet surgical power tool system. It can assist with various surgical applications and offers advanced features.
In March 2021, Stryker Corporation announced to launch of the advanced high-speed surgical drill equipment, F1 Small Bone Power System. It can be used for improving the results of bone surgeries.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Medtronic, Stryker, Brasseler, AYGUN Co., Inc., Conmed, Aesculap, J&J, Zimmer Biomet, Smith & Nephew, and Nouvag AG.
SEGMENTS COVERED
By Type, By Application And By Geography
CUSTOMIZATION SCOPE
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Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support
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