Surgical Power Tools Market Worth $3.25 Billion by 2030 - by Meticulous Research®

According to a new market 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", published by Meticulous Research®, the surgical power tools market is expected to register a CAGR of 4.3% from 2023 to 2030 to reach $3.25 billion by 2030.

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Surgery power tools include powered instruments and accessories that assist in several surgeries. These tools are used in orthopedic surgery, neurosurgery, dental craniomaxillofacial surgery, ENT surgery, cardiothoracic surgery, and plastic & reconstructive surgery to fixate, shape, cut, and dissect bone. In several surgical procedures, they are also used to emulsify, aspirate, and fragment soft tissue.

The demand for surgery power tools is experiencing a surge due to the rising number of aging people, the increasing prevalence of orthopedic and neurological disorders, and technological advancements related to surgical power tools.

Impact of COVID-19 on the Surgical Power Tools Market

The COVID-19 pandemic has negatively affected the surgical power tools market. The surgery procedures were either delayed or canceled during the pandemic. People avoided hospital visits for fear of getting infected with COVID-19. During the pandemic, only emergency procedures were carried out under stringent guidelines. Also, disrupted supply chains due to trade restrictions by almost every country affected the market growth. However, the market experienced post-pandemic growth due to the increasing frequency of delayed and postponed surgeries during the pandemic.

The global surgical power tools market is segmented by Product (Handpieces {Drills, Saws, Reamers, Shavers, Wire/Pin Drivers, Other Handpieces}, Power Source & 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, End (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 the compatibility of handpieces with numerous attachments and their usage in various surgeries. Handpieces also offer power optimization. In dental surgery, handpieces are used for drilling, grinding, and polishing. These allow dentists to work more quickly and efficiently.

Based on application, the orthopedic 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 rising number of orthopedic surgeries, increasing prevalence of orthopedic disorders, and rise in the adoption of minimally invasive orthopedic surgery. However, the neurosurgery segment is projected to register the highest CAGR during the forecast period. The growth of the neurosurgery segment is expected to be driven by the increasing adoption of minimally invasive neurosurgeries. Increasing preference for surgical-powered tools in several surgical procedures, including brain surgery, drives segment growth. Moreover, increasing patient preference for minimally invasive neurosurgeries due to shorter incision lengths, less recovery time than traditional surgeries, less trauma and tissue disruption, and reduced hospital stay also contribute to the segment's growth.

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. However, the disposable tools segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the need for cost efficiency and low risk of infection spread.

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Based on end user, the hospitals segment is expected to register the highest CAGR during the forecast period. Well-established surgical setup, availability of trained surgical professionals, and high adoption of surgical tools mainly contribute to the segment's fast growth.

Based on geography, 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.

The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry over the past three years (2019-2022). In the last couple of years, the global surgical power tools market has witnessed product launches, collaborations, agreements, and expansions.

Some of 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).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/surgical-power-tools-market-5399

Scope of the Report:

Surgical Power Tools Market, by Product

Handpieces
Drills
Saws
Reamers
Shavers
Wire/Pin Drivers
Other Handpieces
Power Source & Controls
Electric Consoles
Batteries
Pneumatic Regulators
Accessories
Surgical Accessories
Electrical Accessories
Other Accessories

Surgical Power Tools Market, by Application

Orthopedic Surgery
Neurosurgery
Dental and Craniomaxillofacial Surgery
ENT Surgery
Cardiothoracic Surgery
Plastic & Reconstructive Surgery
Surgical Power Tools Market, by Usage

Reusable Tools
Disposable Tools

Surgical Power Tools Market, by End User

Hospitals
ASCs and Clinics

Surgical Power Tools Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
India
Rest of APAC (RoAPAC)
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa

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This release was published on openPR.