Surgical Power Tools Market size worth over $3bn by 2027

Surgical Power Tools Market size is set to surpass USD 3 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

Growing technological advancements in smart surgical power tools, 3D printing, and robot-assisted surgical procedures are some of the key factors increasing the penetration of surgical power tools. Increase in neurological disorders across the globe will be one of the major factors driving the surgical power tools market growth. As per the American Neurological Association, the burden of neurological disease is over USD 800 billion per year in the U.S. Furthermore, minimally invasive surgical procedures are gradually gaining popularity among healthcare professionals and patients, owing to a decline in the cost required for hospital stays and problems rising after the surgery. The launch of a sensorless, brushless, fully electronically controlled motor will boost the market expansion. Additionally, several industry players have introduced a simplified and modern approach, thereby offering the ability to ream, saw, and drill with the same handpiece.

 

Request Sample Buy NowInquiry Before Buying

 

Increasing prevalence of orthopedic disorders is expected to propel the surgical power tools market value

Growing prevalence of orthopedic disorder will promote the industry growth. The orthopedic conditions are mostly related with aging and are poised to increase with aging population. According to the Geriatric Orthopedic Surgery and Rehabilitation report, patients aged 70 years and above showcased higher number of comorbidities as compared to younger patient groups. The surging need for orthopedic procedures for conditions such as osteoporosis, osteoarthritis, etc. are propelling the demand for surgical power tools. According to the World Health Organization, in 2017, around 18.0% of women and 9.6% of men aged above 60 years had symptomatic osteoarthritis across the globe. Increasing cases of road accidents across the world have boosted the demand for technological innovations in orthopedic surgical procedures, which in turn has influenced the market demand. In addition, the constant positive performance of surgical power tools has increased its application in the global market. These products are easy to assemble, lightweight, and economically viable.
 

Increase in prevalence of orthopedic disorders including osteoporosis will create growth opportunities for the surgical power tools market over the forecast period. According to the Center for Disease Control and Prevention (CDC), in the U.S., around 19% of women above 50 years of age suffer from osteoporosis of the femur neck or lumbar spine. In the developed nations, severe limb trauma demanding hospitalization is 50% of the time due to falls and around 15%–20% from road traffic accidents. Hence, the growing adoption of orthopedic surgeries to treat these conditions will upsurge the use of surgical power tools. Thus, growing orthopedic disorders attributed to lack of exercise, chronic trauma, and sedentary lifestyle among others would foster the acceptance of surgical power tools and drive the market progression during the forecast timeframe.
 

Advent of newer technologies associated with surgical power tool systems will spur the industry value

Global Surgical Power Tools Market

Get more details on this report - Request Free Sample PDF
 

The surgical power tools market for disposables segment valued at USD 568 million in 2020 and is projected to witness 6.8% growth rate by 2027 owing to a growing incidence of chronic ailments across the globe and is a key factor responsible for the increasing number of surgical procedures. For instance, according to the data published by the American Society of Plastic Surgeons, around 17.5 million minimally invasive procedures were performed in 2017, indicating a 2% upsurge from the previous year. Disposable surgical power tools are increasingly preferred during several surgeries such as plastic & reconstructive surgeries, wound closure, and laparoscopic surgeries among others. Significant development and innovation by market participants to manufacture cost-efficient and end-user appropriate products will result in the long-term surge of the product demand. Rising government initiatives and awareness of health care-associated infections related to safety instructions for disposable surgical device usage will exhibit huge product demand in the market.
 

Browse key industry insights spread across 235 pages with 367 market data tables & 18 figures & charts from the report, “Surgical Power Tools Market Size By Product (Handpiece, Disposables {Drills/Perforators, Saws, Staplers, Reamers, Blades, Burrs, Shavers}, Accessories), By Technology (Electric-operated Power Tools, Battery-driven Power Tools, Pneumatic Power Tools), By Device Type (Large Bone Power Tools, Medium Bone Power Tools, Small Bone Power Tools, High Speed Drilling Systems), By Application (Orthopedic Surgery {Spine, Trauma, Joint, Craniomaxillofacial}, Dental Surgery, ENT Surgery, Neurology Surgery, Cardiothoracic Surgery), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/surgical-power-tools-market

 

Several improvements in battery-driven power tools over other technologies will fuel the market growth

The battery-driven surgical power tools market accounted for USD 629 million in 2020 and is estimated to attain a CAGR of 6.7% through 2027 led by the ability to run on a battery without connecting directly to the electricity source and have no lead attached to the device. The increased benefits of these tools over conventional surgical power systems including improved reliability, durability, and ease of sterilization will impel the product demand.
 

Lithium-ion is the most commonly used rechargeable battery in this tool that enables miniaturization and extends the overall lifespan of the device.  High energy lithium metal oxide batteries allow handheld surgical tools to be small and convenient, enabling surgeons to function rapidly and effectively to decrease fatigue.
 

Growing number of patients suffering from neurological ailments will augment the surgical power tools market revenue

The medium bone power tools segment size was more than USD 497 million in 2020 and is predicted to expand at a CAGR of 6.7% till 2027 due to the increasing use of the medium bone power tools in neurosurgery, spine, and medium/small bone trauma. For instance, as per the recently published data, over 200 million Americans were affected by at least 1 neurological disorder, ranging from migraine to stroke and dementia. Hence, severely affected patients with neurological ailments will require surgery for their treatment, driving the product usage. These devices along with innovative technologies provide a significant increase in torque for tackling challenging reaming procedures. Motorization has become prominent in craniomaxillofacial procedures and is slated to expand medium bone procedures in the near future. Thus, several features such as advanced software, control electronics, status indicator, and motor coupling among others will significantly foster the segment growth.
 

Rising burden of oral health related ailment will stimulate the industry revenue

The dental surgery segment in the surgical power tools market will register a 7% CAGR to reach USD 313 million valuation by 2027 on account of the growing dental disorders and rising investment by manufacturers in 3D printing technology in dental surgical instruments. For instance, according to the Global Burden of Disease Study (GBD) 2017, oral diseases affect around 3.5 billion individuals globally, thereby propelling the product demand. Moreover, according to the International Agency for Research on Cancer, cancers of the oral cavity are among the top 15 most common cancers worldwide, with around 180,000 deaths annually. Increase in adoption by the Dental Support Organizations (DSOs) is enhancing the demand for surgical power tools. This is credited to DSOs are supporting more in-house treatments including endodontic, orthodontics, and oral maxillofacial surgery. These groups are providing improved funding for infrastructure, equipment, and other related expenses.
 

Increasing demand for advanced surgical tools in Japan is anticipated to propel the industry progression

Japan held a significant share in the Asia Pacific surgical power tools market and accounted for over USD 125 million in 2020 impelled by rising demand for minimally invasive devices, rising geriatric population, growing incidence of orthopedic injuries, and traumatic fractures among others.
 

The rising burden of chronic disorders such as cardiovascular, neurological, and orthopedic diseases among others is driving the usage of surgical power tools. In 2017, as per the General Thoracic and Cardiovascular Surgery Journal, more than 70,000 cardiovascular surgeries including 56 heart transplants were performed in Japan. Additionally, the future of ENT surgery in Japan is set to be promising owing to excessive demand, the size of its population, and the development of endoscopic surgery technologies among others. Thus, with a focus of manufacturers on business development in Japan, the region will hold significant revenue in the global surgical power tools market.
 

Companies are focusing on strategies and launch of innovative products to expand customer base

Some of the major players operating in the surgical power tools market are Medtronic plc, Stryker Corporation, Zimmer Biomet, Orthopromed, Nouvag AG, Medical Bees GmbH, MatOrtho, Exactech, DePuy Synthes (Johnson & Johnson), B. Braun Melsungen AG, iMEDICOM, and DeSoutter Medical among others. These industry leaders are involved in partnerships, agreement and acquisition to gain an edge over their competitors.
 

Explore More on Related Topics:

Chat with us
We use cookies to enhance user experience. (Privacy Policy) X