Surgical Power Tools Market Expected to Reach $3.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Surgical Power Tools Market," The global surgical power tools market size was valued at $2,275.2 million in 2021, and is projected to reach $3,783.7 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031. Surgical power tools are the medical equipment used by surgeons and medical professionals to perform surgical interventions. These tools are designed to provide a controlled and precise amount of power to bore holes, cut, shape, or remove bone or soft tissue during surgery. These tools are designed with safety features such as speed control, torque control, and safeguards to prevent injury to the patient or surgeon. Various types of surgical power tools such as pneumatic drills, electric drills, and battery powered drills are used in hospitals, dental clinics, and ear nose throat hospitals.

The major factors driving the growth of the global surgical power tools market share include surge in surgical procedures such as, spine surgery, and plastic surgery; increase in surgical power tools industry. For instance, according to report of National Spinal Cord Injury Statistical Center (NSCISC) 2022, every year 18,000 new spinal cord injuries (SCI) occur in the U.S. Surgical power tools market trends include rise in spine injuries is expected to increase the demand for surgical power tools. For instance, Aria Dril System, Saber Drill, and Portescap's Surgical Motion Solutions are used in spine surgeries. In addition, rise in number of sport injuries further propels the market growth. For instance, according to report published by the National Safety Council of the U.S. 2022 stated that in 2021, about 20% rise in sports and recreational injuries was observed as compared to 2020. Thus, surge in number of sport related injuries is expected to increase the demand for surgical power tools for effective surgical intervention, and boost the market growth.

However, strict regulatory guidelines for product approvals, and lack of skilled surgeons negatively impact the growth of the surgical power tools market size.

On the basis of product, the surgical power tools market share is classified into surgical drill, surgical saw, reamer, power source and accessories. The surgical drills segment was the largest revenue contributor to the market in 2021, and is the fastest growing segment during the forecast period, owing to increase in number of product launches, rise in number of surgical procedures and surge in adoption of surgical drills in hospital and surgical centers.

On the basis of technology, the market is classified into electric operated, battery operated, and pneumatic operated. The electric operated segment was the highest revenue contributor to the market in 2021, due to rise in demand for electric power tool, and advancement in technology in medical device sector. In addition, it offers greater speed and accuracy, and more convenient making them ideal for use in remote settings.

On the basis of application the market is classified into orthopedic surgery, cardiothorasic surgery, spine and neuro surgery, and others. The others segment include traumatology surgery, oral/maxillofacial, ENT surgery, plastic surgery. The orthopedic surgery segment was the largest growing segment in 2021, and is projected to be the fastest growing segment during the forecast period owing to increase in prevalence of orthopedic disorders and rise in number of orthopedic surgery which surge the demand for surgical power tool.

On the basis of end user, the market is classified into hospitals, clinics, ambulatory surgical centers, and others. The others segment include trauma center, orthopedic center, and R&D activities. The hospitals segment dominated the market in 2021 and is expected to continue this trend throughout the forecast period, owing to rise in the adoption of surgical power tools in hospitals, increase in expenditure by government to develop healthcare infrastructure, surge in prevalence of chronic diseases such as cancer, cardiovascular diseases, and rise in number of surgical procedure in hospitals.

Region wise, North America held the highest market share in 2021, and is expected to maintain its lead during the surgical power tools market Forecast period, owing to increase in number of surgical procedure, rise in number of surgical centers, rise in availability of well-developed healthcare infrastructure, and strong presence of surgical power tools Industry in this region. However, Asia-Pacific is expected to exhibit fastest growth during the forecast period, owing to high prevalence of aging population with increase in need of orthopedic surgeries, improvement in healthcare awareness, rise in prevalence of neurological diseases, and surge in healthcare expenditure.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global surgical power tools market analysis. The decrease in the use of surgical power toll by surgeons to reduce the spread of infection is attributed to hamper the growth of the market. In addition, decrease in number of orthopedic surgical procedures are attributed to restraint the growth of the market during pandemic.

Key Findings of The Study

• By product, the surgical drill segment dominated the market in 2021.
• By technology, the electric operated segment dominated the market in 2021.
• By application, the orthopedic surgery operated segment dominated the market in 2021.
• By end user, the hospitals segment dominated the market in 2021.
• By region, North America dominated the market in 2021. However, Asia-Pacific is expected to register highest CAGR during the forecast period.