Surgical Power Tools Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The global surgical power tools market is set to foresee immense growth due to the frequent development of the medical industry and standards across the world. Surgical care is highly important in an effort to manage a series of health conditions like injuries, obstructed labor, malignancy, infections, as well as cardiovascular diseases. Surgeries are the most crucial part of a good and functional health system with over 313 million surgical procedures conducted every year.
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Today, cases of bone-related disorders, that result in fractures, is increasing among the global population, which should further drive the product demand in the coming years. In fact, according to the National Center for Biotechnology Information reports, approximately 1.5 million people suffer from fractures due to bone disease, every year. Additionally, the risks of fracture is more in the elderly population, which is growing at a unforeseen pace, which is expected to greatly complement the overall surgical power tools industry outlook.
In terms of the application, the industry is bifurcated into ENT surgery, cardiothoracic surgery, neurology surgery, orthopedic surgery, dental surgery, and others. Of these, the neurology surgery segment held a valuation of $221.7 million in 2019. The segment is further anticipated to observe a remunerative growth trend through the forecast timeframe. This growth is ascribed to the rising number of neurological disorders or injuries being reported across the globe. In fact, every year about 22.6 million people suffer from a kind of neurological issue with over 13.8 million needing surgery.
With reference to device type, the industry is categorized into high-speed drilling systems, medium bone power tools, large bone power tools, and small bone power tools. Of these, the increasing usage of high-speed drilling systems in orthopedic surgeries is projected to drive their demand over the coming years. In fact, the segment was valued at about $399.8 million in 2019 and is projected to observe a lucrative rate of growth through the analysis period.
The MEA surgical power tools market was valued at over $44.4 million during 2019 and is likely to grow at a healthy CAGR of about 8.2% through the projected timeframe. This growth is expected to majorly come from developed countries across the MEA such as UAE, South Africa, and Saudi Arabia. A total of 51.4 million surgeries are conducted in the UAE every year, making it a significant avenue of growth for the regional market.
Several industry players are increasing employing strategies such as partnerships and acquisitions for higher revenue growth. Citing an instance, in March 2019, renowned manufacturer and developer of joint and bone restoration products, Exactech, reportedly acquired XpandOrtho, a renowned form that develops soft tissue balancing instrument that is used for knee replacement surgery. This acquisition enabled Exactech to improve the capabilities of its computer-assisted surgery system, which is the market’s only navigation system supporting both knee and shoulder replacement procedures.
The competitive landscape of the global surgical power tools market is inclusive of players such as B. Braun Melsungen, DePuy Synthes, Exactech, MatOrtho, Medical Bees GmbH, Nouvag AG, Orthopromed, Zimmer Biomet, Stryker Corporation, and Medtronic among others.
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Partial Chapter of the Table of Content
Chapter 5. Surgical Power Tools Market, By Technology
5.1. Key segment trends
5.2. Electric-operated Power Tools
5.2.1. Market size, by region, 2015 – 2026 (USD Million)
5.3. Battery-driven Power Tools
5.3.1. Market size, by region, 2015 – 2026 (USD Million)
5.4. Pneumatic Power Tools
5.4.1. Market size, by region, 2015 – 2026 (USD Million)
Chapter 6. Surgical Power Tools Market, By Device Type
6.1. Key segment trends
6.2. Large Bone Power Tools
6.2.1. Market size, by region, 2015 – 2026 (USD Million)
6.3. Medium Bone Power Tools
6.3.1. Market size, by region, 2015 – 2026 (USD Million)
6.4. Small Bone Power Tools
6.4.1. Market size, by region, 2015 – 2026 (USD Million)
6.5. High Speed Drilling Systems
6.5.1. Market size, by region, 2015 – 2026 (USD Million)