Press release
Surgical Drill Market Size Projected To Reach $1.66 Billion By 2034 With A Cagr Of 6%
Surgical Drill Market Size
What Is the Projected Growth of the Surgical Drill Market?
The market size for surgical drills has witnessed substantial growth over the previous years. The market which stood at $1.23 billion in 2024 is predicted to reach $1.31 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.8%. This growth during the historic period could be ascribed to the initial expansion of the market, healthcare expenditure trends, the introduction of ground-breaking robotic integrations, the setup of regulatory frameworks, and research and development in the early stages.
The market size for surgical drills is poised for robust expansion in the coming years, with an anticipated value of $1.66 billion by 2029, growing at a compounded annual growth rate (CAGR) of 6.0%. The projected growth during the forecast period is mainly driven by wider market penetration at the global level, augmented healthcare expenditure, inclusion of robotics, adherence to regulatory norms, and increased investment in research and development. It is worth noting that the forecast period is likely to observe an upsurge in surgical procedures, a growing older population, rising demand for minimally invasive surgeries, improved portability and ergonomics, and an increase in research and development investments.
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What Are the Different Surgical Drill Market Segments?
The surgical drill market covered in this report is segmented -
1) By Product: Pneumatic Drill, Electric Drill, Battery Powered, Accessories
2) By Material: Re-Usable, Disposable
3) By Application: Orthopedic Surgeries, Dental Surgeries, Ear, Nose, And Throat (ENT) Surgeries, Neurology Surgery, Other Applications
4) By End-User: Hospitals And Clinics, Ambulatory Surgery Centers, Other End-Users
Subsegments:
1) By Pneumatic Drill: High-Speed Pneumatic Drill, Low-Speed Pneumatic Drill
2) By Electric Drill: Corded Electric Drill, Cordless Electric Drill
3) By Battery Powered: Rechargeable Battery Drills, Non-Rechargeable Battery Drills
4) By Accessories: Drill Bits, Depth Gauges, Chuck Adapters, Cleaning And Maintenance Tools
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What Are the Primary Drivers Shaping the Surgical Drill Market?
The surgical drill market is forecasted to rise due to the increasing number of surgical procedures. These surgeries, also known as surgical interventions, are implemented by professional healthcare providers to identify, cure, or manage various diseases or injuries. Surgical drills are used in several surgeries to form exact holes or openings in hard structures or bone, in a broad range of applications like gynecologic, cardiovascular surgery and knee replacement surgeries. For example, the International Society of Aesthetic Plastic Surgery (ISAPS) reported in June 2024 that the total number of surgical and non-surgical procedures escalated to roughly 34.9 million, indicating a 3.4% rise. Also, the surgical procedures tally went up by 5.5%, amounting to over 15.8 million in 2023, an increase compared to the prior year. Aesthetic procedures largely contributed to this increment, with liposuction being the most popular surgical procedure, representing over 2.2 million operations performed in 2023. Thus, the surge in surgical procedures is fueling the growth of the surgical drill market. Surgical Drill Market Driver: Intensifying Demand for Aesthetic Surgeries Fuels Expansion in the Surgical Drill Market
Which Companies Are Leading in the Surgical Drill Market?
Major companies operating in the surgical drill market report are Braun Melsungen AG, Medtronic PLC, Stryker Corporation, Zimmer Biomet Holdings Inc., Altra Industrial Motion, Arthrex Inc., GPC Medical Ltd., CONMED Corporation, Bioanalytical Systems Inc., Exactech Inc., SOFEMED International, Orthopromed Medical Supplies Inc., De Soutter Medical Ltd., ClearPoint Neuro Inc., MatOrtho Limited, AlloTech Co.Ltd., MicroAire Surgical Instruments LLC, Brasseler USA, Millennium Surgical Corp., Nouvag AG, Aygun Surgical Instruments Co.Inc., Adeor medical AG, Traumec Health Technology, Shanghai Bojin Medical Instrument Co. Ltd., Cliniva Healthcare
What Trends Are Expected to Dominate the Surgical Drill Market in the Next 5 Years?
Top corporations in the surgical drill market are creating revolutionary solutions like digital devices aimed at improving surgical accuracy, productivity, and user friendliness. These digital tools encompass a range of electronic devices such as smartphones, computers, tablets, and smartwatches, which allow information to be processed, stored, and transmitted digitally. For example, in March 2023, Stryker Corporation, a pharmaceutical company based in the US, unveiled the CD NXT System. This cutting-edge surgical drill integrates real-time digital depth measurement technology to boost surgical accuracy. The system offers automatic depth measurement, increases instrumentation efficiency, and minimises the employment of manual gauges, thus improving efficiency in various surgical procedures. The product was introduced with the goal of simplifying surgical procedures, decreasing the demand for manual gauges, and enhancing precision and consistency based on feedback from surgeons. This innovation was designed to address the changing requirements of healthcare providers while ensuring superior procedural outcomes in different surgical operations.
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What Are the Top Revenue-Generating Geographies in the Surgical Drill Market?
North America was the largest region in the surgical drill market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical drill market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Surgical Drill Market?
2. What is the CAGR expected in the Surgical Drill Market?
3. What Are the Key Innovations Transforming the Surgical Drill Industry?
4. Which Region Is Leading the Surgical Drill Market?
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