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Surgical Drills Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

A10956
Pages: NA
Jun 2021 | 51 Views
 
Author(s) : Onkar Sumant
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Surgical Drills Market Outlook - 2027

Surgical drill is a medical instrument used to make holes in the bone for attaching plates, surgical pins, or screws and is also used in dental surgeries to scrap off decay and reshape the teeth as a preparation for tooth filling. Additionally, these drills are implemented in wide range of surgical interventions including ENT, dental surgery, neurosurgery as well as orthopedic surgeries. There exist a variety in surgical drills depending upon the source from which they are powered. These include electric drills, pneumatic drills, battery powered drills and others. Surgical drills offer precision and thus have simplified the difficult task of a surgeon and minimized the surgery time to some extent. Due to recent advents, surgical drills are integrated with use of laser technology, endoscopy, robotics-assisted drilling as well as inclusion advanced imaging systems to guide drilling which has made surgical drills one of the most advanced tool in the surgical interventions.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Product, Applications, End Users and Region

  Regions covered

•             North America (U.S., Canada, Mexico)

•             Europe (France, Germany, UK, Italy, Spain, Rest of Europe)

•             Asia-Pacific (Japan, China, India, Australia, South Korea, Rest          of Asia-Pacific)

•             LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

  Companies covered

Stryker Corporation, Medtronic plc., Zimmer Biomet Holdings Inc., DePuy Synthes, CONMED Corporation, De Soutter Medical, Adeor Medical AG, AlloTech Co. Ltd., Arthrex Inc., and B.Braun Melsungen AG.


COVID – 19 scenario analysis: 

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to surgical drills has been reduced and this segment have to face negligence subsequently causing negative impact on surgical drills market

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Growing incidences of surgical procedures owing to increase in sports injuries, road accidents, orthopedic surgeries, dental surgeries, and others due to rising prevalence of orthopedic diseases, dental problems, and other chronic health conditions wherein a surgical intervention is inevitable is the major driving force behind the surgical drills market. Surging prevalence of chronic ailments across the world is expected to augment the growth for this market as curative treatment for curing these diseases such as orthopedic disorders implements surgical drills extensively while performing a surgical procedures. Since the last decade, a sudden upsurge has been witnessed in the rate of acceptance of these instruments, especially in conducting various orthopedic surgeries. These tools are attributed with higher efficiency, better cost-effectiveness and accuracy in comparison with conventional high-end orthopedic drills powered by battery. Moreover, these surgical instruments are easy to use, highly durable and need low maintenance owing to which they are gaining significant popularity. These considerable benefits pertaining to use of these products will surge the demand for them in the market. Heavy investment in research and development activities leading to constant technological developments has been another key factor propelling the growth of these market as it enables the medical professionals to offer highly efficient treatment.

On the contrary, lower acceptance of highly advanced surgical equipment like surgical drills in emerging countries coupled with greater emphasis of healthcare professionals directed to conventional surgical means would hamper in the global market growth. Moreover, restricting budget for state-owned healthcare facilities for procuring surgical instruments, and high investment associated with surgical drills would further restrain the surgical drills market to certain extent.

However, the industry requirement and shifting consumer preference from conventional surgical methods to minimally invasive surgeries, which is fulfilled with the use of surgical drills that are minimally invasive in nature would provide new growth avenues to the global surgical drills market in the coming years.

Rising incidences of sports-related injuries to boost the market growth

Surgical drills are extensively utilized in the therapeutics of sport injuries, which require surgical intervention, rising cases of bone fractures across the world the globe are some of the factors augmenting the growth of this market globally. Bone fracture is ranked at second place in U.S., for causing most of the sports injuries. Bone dislocation and fractures account for over 20% of sports-related injuries in the U.S. only, thereby potentially soaring the demand for surgical drills. Moreover, in European region, around 14% of surgically treated injuries are associated with sports that are inclusive of sprains, bone dislocations and bone fractures. The availability of healthy reimbursement scenario for the surgical interventions using surgical drills in order to treat of sport injuries in the U.S. and European segment would bolster the global surgical drills market.

Growing prevalence on orthopedic disorders along with geriatric populace to augment the growth

Growing prevalence of several orthopedic disorders including spinal injuries, spinal deformities, and osteoporosis is one of the key factor driving the growth of the surgical drills market. As per American Orthopedic Association (AOA), almost 1.5 million people in the U.S., were suffering due to osteoporosis in 2017. Additionally, the European Federation of National Associations Orthopedics and Traumatology (EFFORT) stated approximately 2.5 million cases of fractures were registered all over the Europe in 2015 and is anticipated to rise further to 4.5 million cases by the year 2050. Furthermore, almost 26% of elderly people aged between 65 and 69 years in the U.S. suffer owing to edentulism or toothlessness. The American population aged above 65 years is estimated to be twice that of now, from the current estimate of 46 million to round 98 million by the year 2060. Likewise, the geriatric population base is also expected to increase to around 24% from 15%. Thus, the increasing geriatric population along with increasing incidences of orthopedic disorders would stimulate the market growth in coming years.

Key segments:

Segments

Sub-segments

  Product

 

  • Pneumatic Drills
  • Electric Drills
  • Battery Powered Drills
  • Accessories
  • Others

  Applications

  • Orthopedic Surgery
  • Neurosurgery
  • Ear Nose Throat (ENT)
  • Dental Surgery
  • Others

  End users

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Research Institutes
  • Others
  •  

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the global surgical drills industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global surgical drills market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global surgical drills market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the surgical drills market research report:

  • Which are the leading market players active in the surgical drills market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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