June 16, 2024
Surgical Drills Market

Incorporate regenerative medicine techniques anticipated to openup the new avenue for Surgical Drills Market

The Surgical Drills Market is estimated to be valued at US$ 604.7 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Surgical drills are electromechanical devices used for cutting holes or grinding tissue during orthopedic, neurological and dental surgical procedures. They are used to drill and cut openings in bone or cartilage such as during total joint replacement procedures, fracture fixation and dental procedures. The drills come in a variety of shapes and sizes depending on the specific surgical application. Powered by pneumatic or electric motors, surgical drills offer precision and control during bone cutting procedures.

Market Dynamics:
Growing prevalence of orthopedic disorders and rising number of surgical procedures are expected to drive the surgical drills market growth over the forecast period. According to United Nations, the global population aged 60 years and older is projected to double from 900 million to nearly 2.1 billion between 2015 and 2050. Emerging applications of regenerative medicine techniques in orthopedic procedures will further fuel the demand of surgical drills during the forecast period. Increasing adoption of minimally invasive surgeries owing to benefits such as smaller incisions, lesser pain and faster recovery time is another factor propelling the surgical drills market growth.
Segment Analysis
The surgical drills market is dominated by the pneumatic sub-segment. Pneumatic surgical drills are ergonomically designed and provide vibration-free performance which makes precision drilling possible. They offer advantages over electric surgical drills such as quieter operation, light weight and cordless functionality.

PEST Analysis
Political: Regulations regarding use of medical devices are becoming more stringent. Manufacturers have to adhere to quality and safety standards set by regulatory bodies.
Economic: Growth in the number of trauma and orthopedic surgeries driven by rising incidence of accidents and lifestyle diseases is fueling demand for surgical drills.
Technological: Developments in precision drilling technology and introduction ofbattery-powered drills have improved efficiency and reduced dependence on external power supply.

Key Takeaways
The global Surgical Drills Market Growth  is expected to witness high growth at a CAGR of 7.9% over the forecast period, driven by rapid increase in orthopedic and neurological surgical procedures. The market size is projected to reach US$ 1,067.2 Mn by 2030 from US$ 604.7 Mn in 2023.

Regional analysis: North America dominates the surgical drills market currentlydue to presence of major players and rising prevalence of degenerative joint diseases. Asia Pacific is expected to be the fastest growing market owing to improving access to healthcare and growing medical tourism industry in countries like India and China.

Key players operating in the surgical drills market are B. Braun SE, Stryker Corporation, Adeor Medical Ag, Medtronic, Allotech Co. Ltd., Arthrex Inc., Brasseler USA, ClearPoint Neuro, Inc., ConMed Corporation, De Soutter Medical Ltd., GPC Medical Ltd., Johnson & Johnson, Joimax Inc., Marver Med, MicroAire Surgical Instruments, LLC., Sofemed, Zimmer Biomet Holdings, Inc., and Manman Manufacturing Company Private Limited. Stryker Corporation and B. Braun SE dominate the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it