Surgical Drills Market Highlights
Various factors are propelling the surgical drills market growth. Some of these factors according to the Market Research Future report, include rising medical tourism, growing elderly population, changing lifestyle, changing eating habits of consumers, excessive alcohol consumption, rising number of dental and orthopedic surgeries, and rising awareness about dental hygiene. Additional factors pushing market growth include high disposable income, increasing prevalence of chronic diseases which need surgical procedures, upgrading of healthcare equipment and infrastructure, and constant development in surgical drill technology.
Surgical Drills Market Size was valued at USD 0.9 billion in 2022 and is projected to grow from USD 0.95 Billion in 2023 to USD 1.34 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.9% during the forecast period (2023 - 2030). A surgical drill, simply put, is a device used for boring holes in bone for attaching screws, plates, or surgical pins or reshaping teeth and removing decay for a filling. These precision instruments help to accommodate different drill bits for catering an array of applications in anything from neurological to dental surgeries. Surgical drills have an extensive range of applications, including ENT, dental surgeries, neurosurgery, orthopedic surgery, and much more.
On the contrary, scarcity of skilled medical professional and severe government regulations are factors that may restrict the surgical drills market growth over the forecast period.
Regional Analysis
Based on the region, the report of surgical drills market trends and growth covers opportunities across Europe, the Asia Pacific, the Americas, and the Middle East and Africa. Of these, the Americas will lead the market over the forecast period.
This is owing to developed healthcare infrastructure, high physician and patient awareness about efficiency and safety of surgical drills, and an increasing number of orthopedic surgeries. Moreover, increasing awareness regarding dental hygiene, advanced treatment procedures, high disposable income, and state-of-the-art medical infrastructure are also boosting the market growth in this region.
The surgical drills market in Europe is predicted to have the second-largest share in the market over the forecast period. This is chiefly due to the rising support from the government for device manufacturers.
The surgical drills market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to increase in medical tourism, rising awareness among people about healthcare and surgical devices, improved healthcare infrastructure, growing medical sector, rise in government funding for healthcare, increasing medical device companies, and rising research and development expenditure.
The global surgical drills market in the Middle East and Africa is predicted to have minor growth over the forecast period.
Market Segmentation
The MRFR report offers a wide segmental analysis of the surgical drills market insights based on application, product, and end user.
Based on products, the surgical drills market is segmented into accessories, battery-powered drills, electric drills, pneumatic drills, and others. Of these, the pneumatic drills segment will have the largest share in the market over the forecast period.
Based on application, the surgical drills market is segmented into dental surgery, ENT, neurosurgery, orthopedic surgery, and others. Of these, the orthopedic surgery segment will dominate the market over the forecast period.
Based on end users, the surgical drills market is segmented into academic and research institutes, ambulatory surgical centres, hospitals and clinics, and others. Among these, the hospitals and clinics segment will lead the market over the forecast period.
Key Players
The surgical drills market players report include Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic plc, DePuy Synthes, De Soutter Medical, CONMED Corporation, B.Braun Melsungen AG, AlloTech Co.Ltd. Arthrex Inc., and Adeor medical AG, among others.
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