What Is The Current and Historic Market Size Analysis Of The Surgical Drill Market?
The surgical drill market has seen considerable growth due to a variety of factors.
• In recent times, the surgical drill market has experienced significant growth in its size. The market, which is expected to increase from $1.23 billion in 2024 to $1.31 billion in 2025, predicts a compound annual growth rate (CAGR) of 6.8%.
The expansion during the historical period is attributable to the market's initial growth, healthcare spending patterns, the innovative integration of robotics, the establishment of regulatory frameworks, and early-stage research and development.
What Is The Forecast For The Surgical Drill Market Size?
The surgical drill market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for surgical drills is projected to experience considerable expansion in the upcoming years, ballooning to a value of $1.66 billion by 2029 with a compound annual growth rate (CAGR) of 6.0%.
This projected increase over the forecast period can be credited to factors such as wider global market penetration, heightened healthcare expenditure, the incorporation of robotics, observance of regulatory norms, and funds directed towards research and development. In the same forecast period, significant trends to watch out for include the augmentation of surgical procedures, an uptick in the elderly population, a surge in the demand for minimally invasive surgeries, improved portability and ergonomics, and investment in R&D.
What Are The Essential Drivers Behind The Growth Of The Surgical Drill Market?
The rise in surgical operations is anticipated to contribute significantly to the expansion of the surgical drill industry. Surgical interventions, commonly known as surgeries, are conducted by healthcare experts to diagnose, treat or remedy various diseases or injuries. Surgical drills are utilized across many surgical interventions to produce accurate openings or holes in bone, tissue, or stiff structures for several applications, including cardiovascular and gynecologic surgery, and knee replacement procedures. For example, the International Society of Aesthetic Plastic Surgery (ISAPS), a UK-based body for board-certified plastic surgeons, reported that in June 2024, the total number of surgical and non-surgical interventions reached nearly 34.9 million, indicating a 3.4% rise. Moreover, surgical operations increased by 5.5% totaling over 15.8 million in 2023 compared to the prior year. A significant part of this increase was due to aesthetic procedures, liposuction being the most popular surgical operation, accounting for over 2.2 million procedures carried out in 2023. As a result, the increasing frequency of surgical operations is fuelling the surgical drill market. A rise in the demand for aesthetic surgeries is projected to stimulate the surgical drill market's growth. Aesthetic surgery, also referred to as cosmetic surgery, is aimed at enhancing an individual's appearance by modifying their physical characteristics. In aesthetic surgeries, surgical drills allow doctors to create accurate and controlled cuts and bone adjustments, critical in procedures like rhinoplasty or chin augmentation, where even minor changes can greatly affect the final aesthetic result. Surgical drills permit drilling, sawing, reaming, and screwing, which are vital for bone manipulation during aesthetic surgery. For instance, The Aesthetic Society, a US-based organization, reported in July 2024 a significant 2.9% increase in total surgical procedures from 2022 to 2023. Most preferred surgeries included liposuction (394,527), breast augmentation (249,560), tummy tucks (194,875), and eyelid surgeries (113,996) in 2023. Therefore, the burgeoning demand for aesthetic surgeries is propelling the surgical drill market's growth.
How Is The Global Surgical Drill Market Divided Into Key Segments?
The surgical drill market covered in this report is segmented –
1) By Product: Pneumatic Drill, Electric Drill, Battery Powered, Accessories
2) By Material: Re-Usable, Disposable
3) By Application: Orthopedic Surgeries, Dental Surgeries, Ear, Nose, And Throat (ENT) Surgeries, Neurology Surgery, Other Applications
4) By End-User: Hospitals And Clinics, Ambulatory Surgery Centers, Other End-Users
Subsegments:
1) By Pneumatic Drill: High-Speed Pneumatic Drill, Low-Speed Pneumatic Drill
2) By Electric Drill: Corded Electric Drill, Cordless Electric Drill
3) By Battery Powered: Rechargeable Battery Drills, Non-Rechargeable Battery Drills
4) By Accessories: Drill Bits, Depth Gauges, Chuck Adapters, Cleaning And Maintenance Tools
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What New Trends Are Influencing The Surgical Drill Market?
Major firms in the surgical drill market are pioneering the creation of ground-breaking solutions like digital tools to amplify surgical precision, efficacy, and user-friendliness. Digital tools incorporate electronic gadgets that process, save, and convey data in digital format, encompassing smartphones, PCs, tablets, and smartwatches. For instance, the US-based pharma firm Stryker Corporation, unveiled the CD NXT System, a novel surgical drill, in March 2023, that incorporated digital technology to measure depth in real-time for surgical precision. The system provides automated depth measurements, simplifies instruments, and decreases the requirement for manual gauges, thus improving efficiency in various surgical procedures. The objective of this introduction is to modernize surgical operations, lessen dependability on manual gauges, and heighten precision and reproducibility based on the feedback of surgeons. This inventive approach is designed to accommodate the progressive needs of medical professionals while assuring superior procedural results in assorted surgical uses.
Who Are the Key Players In The Surgical Drill Market?
Major companies operating in the surgical drill market report are:
• Braun Melsungen AG
• Medtronic PLC
• Stryker Corporation
• Zimmer Biomet Holdings Inc.
• Altra Industrial Motion
• Arthrex Inc.
• GPC Medical Ltd.
• CONMED Corporation
• Bioanalytical Systems Inc.
• Exactech Inc.
• SOFEMED International
• Orthopromed Medical Supplies Inc.
• De Soutter Medical Ltd.
• ClearPoint Neuro Inc.
• MatOrtho Limited
• AlloTech Co.Ltd.
• MicroAire Surgical Instruments LLC
• Brasseler USA
• Millennium Surgical Corp.
• Nouvag AG
• Aygun Surgical Instruments Co.Inc.
• Adeor medical AG
• Traumec Health Technology
• Shanghai Bojin Medical Instrument Co. Ltd.
• Cliniva Healthcare
What Are The Regional Insights Into The Surgical Drill Market?
North America was the largest region in the surgical drill market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical drill market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
