The global high-speed surgical market size was valued at USD 606.51 Million in 2022 and is anticipated to reach USD 841.10 Million by 2031, expanding at a CAGR of 3.7% during the forecast period, 2023–2031. Growth of the market is attributed to easy access to healthcare facilities, growth of surgical procedures, and expanding expenditure on health care globally.
High-speed surgical drill generally refers to a drill-bit or a driver-bit and is equipped with cutting tool, utilized along with fasteners for boring holes and fastening during surgeries. The surgical drills are used in dental, neurology, plastic surgery, orthopaedic, and other applications.
Surgical procedures are increasing in both developed and developing countries, owing to rising accidents and injuries. Dental and orthopedic surgeries are increasing, due to mandatory surgeries of dental disorders and chronic diseases. These factors are estimated to propel the market.
According to World Health Organisation (WHO), the Covid-19 pandemic affected the demand and supply of the high-speed surgical drill market. Lockdowns across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
High-Speed Surgical Drill Market Trends, Drivers, Restraints, and Opportunities
- Rising number of surgical procedures worldwide is fueling the global high-speed surgical drill market.
- Increasing access to healthcare facilities around the world is projected to boost the market during the forecast period.
- Rising medical tourism is estimated to create growth opportunities for the key players in the market.
- Easy access to advanced medical technologies, along with rising compliance on international quality standards is driving the market of medical tourism.
- Factors such as high-quality service, advertising, and marketing along with rising number of surgical drills are expected to drive the market during the forecast period.
- Unfavorable supply and production, due to Covid-19, are projected to hinder the market growth.
- High cost of surgical drills is estimated to hamper the market growth.
- Growth in global economies and rising healthcare expenditure is creating growth opportunities for the key players.
Scope of High-Speed Surgical Drill Market Report
The report on the global high-speed surgical drill market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
High-speed Surgical Drill Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Category (Pneumatic High-Speed Surgical Drill and Electric High-Speed Surgical Drill) and Applications (Dentistry, Orthopaedics, Neurosurgery, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Johnson & Johnson, Medtronic, Brasseler, Conmed, Adeor, Nouvag, Stryker, Aesculap, Aygun, DeSoutter Medical, and Smith & Nephew
High-Speed Surgical Drill Market Segment Insights
Category Segment Analysis
Based on category, the global high-speed surgical drill market is bifurcated into pneumatic high-speed surgical drill and electric high-speed surgical drill. The electric high-speed surgical drill segment held more than 50% share of the total revenue.
The pneumatic high-speed surgical drill segment is anticipated to expand at a rapid pace during the forecast period. Factors such as rising adoption of pneumatic high-speed surgical drills by several end-users to perform orthopedic and neurosurgeries are expected to propel the market during the forecast period.
Applications Segment Analysis
On the basis of applications, the global high-speed surgical drill market is segregated into dentistry, orthopaedics, and neurosurgery. The orthopedic segment held more than 40% of the market share in 2020. Growth of the orthopedic segment is attributed to increasing instances of bone diseases, especially among the geriatric population.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America holds the maximum share of the high-speed surgical drill market in terms of revenue, demand, and consumption.
Growth of the market is attributed to rising demand for intrusive surgeries and reimbursement strategy in the region. The market in Europe is anticipated to expand at a rapid rate during the forecast period, owing to growing investment in the healthcare sector.
The global high-speed surgical drill market has been segmented on the basis of
- Pneumatic High-speed Surgical Drill
- Electric High-speed Surgical Drill
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players in the global high-speed surgical drill market include Johnson & Johnson, Medtronic, Brasseler, Aesculap, Conmed, Adeor, Nouvag, Stryker, Aygun, DeSoutter Medical, and Smith & Nephew.
- In 2018, Medtronic acquired Mazor Robotics, a prime innovator of the spine surgery. This helped the company to gain a competitive advantage. In 2019, Medtronic acquired AV Medical, a company that constructs interventions on catheters.