Meticulous Research®—a leading global market research company, published a research report titled, ‘Surgical Power Tools Market by Product (Drill, Saw, Reamer, Shaver, Wire Driver, Power Source, Accessories), Application (Orthopedic, Neuro, Dental, ENT, Cardiothoracic), Usage (Reusable, Disposable), End User (Hospital, Clinic)—Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the global surgical power tools market is expected to register a CAGR of 4.3% to reach $3.25 billion by 2030. The rising number of aging people, the increasing prevalence of orthopedic and neurological disorders, and a surge in technological advancements related to surgical power tools drive the market growth.
Surgical Power Tools Market: Future Outlook
The global surgical power tools market is segmented by Product (Handpieces {Drills, Saws, Reamers, Shavers, Wire/Pin Drivers, Other Handpieces}, Power Sources & Controls {Electric consoles, Battery, Pneumatic Regulators }, Accessories {Surgical Accessories, Electrical Accessories, Other Accessories}), Application (Orthopedic Surgery, Neurosurgery, Dental and Craniomaxillofacial Surgery, ENT Surgery, Cardiothoracic Surgery, Plastic & Reconstructive Surgery ), Usage, (Reusable, Disposable), End User, (Hospitals, ASCs and Clinics), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
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Based on product, the handpieces segment is expected to account for the largest share of the global surgical power tools market in 2023. The large market share of this segment is attributed to its efficient usage in various surgeries and compatibility with numerous attachments.
Based on application, the global surgical power tools market is segmented into orthopedic surgery, neurosurgery, dental and craniomaxillofacial surgery, ENT surgery, cardiothoracic surgery, and plastic & reconstructive surgery. In 2023, the orthopedic surgery segment is expected to account for the largest share of the global surgical power tools market due to the increasing prevalence of orthopedic disorders, rising number of orthopedic surgeries, and adoption of minimally invasive orthopedic surgeries.
Based on usage, the global surgical power tools market is segmented into reusable tools and disposable tools. In 2023, the reusable tools segment is expected to account for the largest share of the global surgical power tools market due to the need for cost efficiency and minimizing waste.
Based on end user, the hospitals segment is expected to account for the largest share of the global surgical power tools market in 2023. The large market share of this segment is attributed to the growing demand for orthopedic and neurological disorders. Hospitals are the first lines of approach to patients suffering from any disorder.
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Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa.
In 2023, North America is expected to account for the largest share of the global surgical power tools market. The growth of this market in North America is primarily driven by the high adoption of advanced surgical instruments and growing preferences for minimally invasive surgeries. Furthermore, increasing number of surgeries due to chronic diseases and favorable reimbursement scenario also support the market growth in the region.
Key Players
The key players operating in the global surgical power tools market are Medtronic Plc (Ireland), ConMed Corporation (U.S.), B. Braun Melsungen AG (Germany), Zimmer Biomet Holdings, Inc. (U.S.), Johnson & Johnson (U.S.), Stryker Corporation (U.S.), De Soutter Medical Limited (U.K.), AlloTech Co. Ltd. (South Korea), Smith & Nephew plc (U.K), and NOUVAG AG (Switzerland).
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Key questions answered in the report-
- Which are the high-growth market segments in terms of product, application, usage, end user, and regions/countries?
- What was the historical market for surgical power tools across the globe?
- What are the market forecasts and estimates for the period 2023–2030?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global market of surgical power tools?
- Who are the major players in the global surgical power tools market?
- What is the competitive landscape, and who are the market leaders in the global surgical power tools market?
- What are the recent developments in the surgical power tools market?
- What are the different strategies adopted by the major players in the surgical power tools market?
- What are the geographical trends and high-growth regions/countries?
Author:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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