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iCrowdNewswire Jan 26, 2021 1:52 PM ET

Surgical Drills Market Size, Share, Trends and Industry Growth Analysis, Forecast to 2023

iCrowd Newswire - Jan 26, 2021

Surgical drills are increasingly being adopted for the treatment of the rising cases of sport injuries, which are the reason behind the growing incidences of bone fractures across the globe. In the US alone, bone fracture remains the second most common sports injury that calls for higher use of surgical drills.

Surgical drills market 2020 is on track to procure a growth rate of 4.93% from 2017 to 2023 (appraisal period), confirms MRFR/Market Research Future. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

In the past couple of years, the surgical drills market has picked up a steady pace, with significant boost provided by the expanding elderly population and the rising number of surgical procedures around the globe. The heightened demand for minimally invasive surgeries combined with the considerable spending on healthcare in several countries also favors the market.

The global market for surgical drills has been witnessing a rise in innovative and transformative technological developments, such as surgical robotics, resulting in extensive business growth. For instance, in October 2020, MedStar Washington Hospital Center in the United States was the first to conduct a minimally invasive spine surgery utilizing Cirq arm. Cirq arm is a precise robotic equipment that enables surgeons in analyzing the exact points to be drilled during complex surgeries.

Regional Outlook

The surgical drills industry has been geographically categorized into Europe, the Americas, MEA/the Middle East & Africa as well as APAC/Asia Pacific.

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The American market can expect to attain the top position in the years ahead. The demand for surgical drills is quite high on account of the escalating number of orthopedic surgeries and the mounting awareness with regard to dental hygiene that boosts dental procedures as well as surgeries.

It is anticipated that the European market will take the second spot during the analysis period, thanks to the strong government support for surgical drill manufacturers and the increasing efforts by companies to boost their presence by developing innovative medical products.

Market Segmentation

The surgical drills industry has been dissected into product, application and end-user.

The key products studied in the market study are electric drills, pneumatic drills, accessories, battery-powered drills, and more. Since 2017, the biggest share in the market has belonged to the pneumatic drills segment, owing to the higher patient compliance compared to other types of drills.

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The main application areas covered in the study are neurosurgery, orthopedic surgery, dental surgery, ENT, and more. Orthopedic surgery segment is the top application area and has remained since 2017, while the dental surgery segment has been placed at the second place in the global market.

Key Players:
Some of the prominent players in the Global Surgical Drills Market are Adeor medical AG, AlloTech Co.Ltd. Arthrex Inc., B.Braun Melsungen AG, CONMED Corporation, De Soutter Medical, DePuy Synthes, Medtronic plc, Stryker Corporation and Zimmer Biomet Holdings, Inc.

About Market Research Future:

Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.

Our fast emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.

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Keywords:    Surgical Drills Market, Surgical Drills, Surgical Drills Market Size, Surgical Drills Market Share, Surgical Drills Market Growth, Surgical Drills Market trends

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