Surgical Drill Bits Market

Global Surgical Drill Bits Market by Products [Standard Solid Drill Bits, (Single Use Drill Bits and Reusable Drill Bits), Cannulated Drill Bits, (Single Use Drill Bits and Reusable Drill Bits), Calibrated Drill Bits, (Single Use Drill Bits and Reusable Drill Bits)], Functions (Cutting, Tapping, Marking, and Shaping), Delivery Modes (Orthopedic Surgery, Neurosurgery Dental Surgery, and General Surgery Veterinary), End-users (Hospitals, Office Based Clinics, and Ambulatory Surgical Centers), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, And Forecast, 2021-2028

  • Report ID: HC-4550
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 178
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global surgical drill bits market size was valued at USD 1.1 billion in 2020 and is projected to reach USD 2.0 billion by 2028, expanding at a CAGR of 6.2% during the forecast period, 2021–2028. During orthopaedic surgery requiring internal or external fixation, drilling holes in the bone for the implantation of bone screws is done with surgical drill bits. Surgical drill bits are often available in a variety of sizes and shapes to make their use more convenient.

Surgical Drill Bits Market key takeaways

The use of orthopaedic power tools to perform various orthopaedic procedures has increased dramatically during the previous decade. When compared to normal high-end orthopaedic battery drills, these orthopaedic power tools are 70 to 75 times less expensive (OBD). Furthermore, these orthopaedic power tools are long-lasting, low-maintenance, and simple to operate. The numerous benefits of these orthopaedic power tools have resulted in an increase in the use of surgical drill bits in orthopaedic procedures.

By becoming preferred vendors, the majority of global surgical drill bits market participants intend to build collaborations with healthcare institutions. Companies can leverage the collaborative effort to discover physician and surgeon shortage areas, enhance access to low-cost surgical supplies, and train and help healthcare personnel.

The pandemic of COVID-19 has had a negative influence on this sector. Due to the large reduction in the number of surgeries during the COVID-19 restrictions, key participants reported a drop in income from major surgical power tools product sales. Furthermore, governments in a number of nations have issued directives to postpone or cancel non-essential surgeries in order to save healthcare resources for COVID-19 patients. This reason caused a significant drop in non-emergency surgeries around the world, significantly limiting surgical drill use during the projected period.

Market Drivers, Restraints, and Opportunities:

  • Surgical drill bits are commonly employed in the treatment of sports injuries, which are a major contributor to the rising number of bone fractures around the world.
  • Availability of favourable reimbursement regulations for the treatment of sports injuries is expected to boost the surgical drill bits market.
  • In developed nations, there has been an increase in the preference for minimally invasive procedures over the last few decades, which is estimated to fuel the demand for surgical drill bits.
  • The need for minimally invasive procedures has risen as a result of technological improvements and the creation of better implants, which propel the surgical drill bits market.
  • Traditional and conventional surgical techniques have a lengthy recovery time and a high risk of infection this is estimated to hamper the market.
  • Lack of acceptance of modern surgical equipment such as surgical drill bits in developing nations is projected to hamper the market
  • Restricted budget allotted by both government and private hospitals for the procurement of modern surgical equipment is projected to hinder the market.
  • Restricted adoption of minimally invasive operations in emerging economies due to the high cost of surgical equipment may hamper the surgical drill bits market growth during the forecast period.

Scope of the report:

The report on the surgical drill bits market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Surgical Drill Bits Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018-2019

Forecast Period

2021-2028

Segmentation

Products [Standard Solid Drill Bits, (Single Use Drill Bits and Reusable Drill Bits), Cannulated Drill Bits, (Single Use Drill Bits and Reusable Drill Bits), Calibrated Drill Bits, (Single Use Drill Bits and Reusable Drill Bits)], Functions (Cutting, Tapping, Marking, and Shaping), Delivery Modes (Orthopaedic Surgery, Neurosurgery Dental Surgery, and General Surgery Veterinary), End-users (Hospitals, Office Based Clinics, and Ambulatory Surgical Centres)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players covered in the Report

Dentsply Sirona, Arthrex, Inc., Zimmer Biomet Dental, Integra LifeSciences, Stryker Corporation, Institute Straumann AG, Teleflex Incorporated, CONMED Corporation, Medline Industries, LP.

 

The Surgical Drill Bits Market Segment Insights:

The standard solid drill bits segment held the major market share

Based on products, the market is segregated into standard solid drill bits, cannulated drill bits, and calibrated drill bits. The standard solid drill bits segment is further segregated into single use drill bits and reusable drill bits. The cannulated drill bits segment is sub-segregated into single use drill bits and reusable drill bits. The calibrated drill bits segment is further fragmented into single use drill bits and reusable drill bits. The standard solid drill bits segment held major market share in 2021 due to their efficiency in minimal access surgery and new criteria such as cost effectiveness and increased tactile advantages. Due to high healthcare expenditures and the availability of favorable reimbursement scenarios, single-use surgical drill bits have been gaining traction in industrialized economies.

The cutting segment held the major market share

On the basis of functions, the market is fragmented into cutting, tapping, marking, and shaping. The cutting segment dominated the market in 2021 with a revenue share of over 50.0% owing to their low cost and widespread availability of services.

Surgical Drill Bits Market by functions

The orthopedic surgery segment is expected to grow at a rapid pace during the forecast period

In terms of delivery mode, the market is divided into orthopedic surgery, neurosurgery dental surgery, and general surgery veterinary. The orthopedic surgery segment is expected to grow at a rapid pace during the forecast period owing to increasing global incidence of orthopedic illnesses, resulting in a high number of patients having surgical procedures. On the other hand, the neurology category held the second-largest share of the global market. The segment's expansion is profitable due to an increase in the number of patients suffering from neurological disorders, which leads to high demand for surgical procedures as a treatment, resulting in increased demand and uptake of surgical power instruments like drills.

The hospital segment is anticipated to expand at a high CAGR during the forecast period

Based on end-users, the market is segregated into hospitals, office-based clinics, and ambulatory surgical centers. The hospital segment is anticipated to expand at a high CAGR during the forecast period. The segment's dominance can be attributed to a higher number of treatments performed in hospitals and ambulatory surgical centers, as well as favorable reimbursement systems offered by hospitals in emerging markets. Furthermore, the presence of competent healthcare staff and a greater acceptance of new instruments for sophisticated surgical treatments are two major factors driving the market.

North America is estimated to dominate the market

In terms of regions, the market is classified as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the market during forecast period. The growth of market in the region is attributed to increased prevalence of neurological disorders, orthopaedic disorders, and other chronic conditions, as well as a high percentage of surgeries.

Europe is projected to hold major market share during the forecast period. Some of the factors driving the market include increasing orthopaedic operations in countries such as the United Kingdom, Germany, and others, as well as the introduction of improved drills in the region.

Surgical Drill Bits Market by regions

Segments

By Product
  • Standard Solid Drill Bits
    • Single Use Drill Bits
    • Reusable Drill Bits
  • Cannulated Drill Bits
    • Single Use Drill Bits
    • Reusable Drill Bits
  • Calibrated Drill Bits
    • Single Use Drill Bits
    • Reusable Drill Bits
By Function
  • Cutting
  • Tapping
  • Marking
  • Shaping
By Delivery Mode
  • Orthopedic Surgery
  • Neurosurgery Dental Surgery
  • General Surgery
  • Veterinary
By End-use
  • Hospitals
  • Office Based Clinics
  • Ambulatory Surgical Centers
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players
  • Dentsply Sirona
  • Arthrex, Inc.
  • Zimmer Biomet Dental
  • Integra LifeSciences
  • Stryker Corporation
  • Institute Straumann AG
  • Teleflex Incorporated
  • CONMED Corporation
  • Medline Industries, LP

Competitive Landscape

Major players in the market include Dentsply Sirona, Arthrex, Inc., Zimmer Biomet Dental, Integra LifeSciences, Stryker Corporation, Institute Straumann AG, Teleflex Incorporated, CONMED Corporation, Medline Industries, LP. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Surgical Drill Bits Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Surgical Drill Bits Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Surgical Drill Bits Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Surgical Drill Bits Market - Supply Chain
  4.5. Global Surgical Drill Bits Market Forecast
     4.5.1. Surgical Drill Bits Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Surgical Drill Bits Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Surgical Drill Bits Market Absolute $ Opportunity
5. Global Surgical Drill Bits Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Surgical Drill Bits Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Surgical Drill Bits Demand Share Forecast, 2019-2026
6. North America Surgical Drill Bits Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Surgical Drill Bits Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Surgical Drill Bits Demand Share Forecast, 2019-2026
7. Latin America Surgical Drill Bits Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Surgical Drill Bits Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Surgical Drill Bits Demand Share Forecast, 2019-2026
8. Europe Surgical Drill Bits Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Surgical Drill Bits Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Surgical Drill Bits Demand Share Forecast, 2019-2026
9. Asia Pacific Surgical Drill Bits Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Surgical Drill Bits Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Surgical Drill Bits Demand Share Forecast, 2019-2026
10. Middle East & Africa Surgical Drill Bits Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Surgical Drill Bits Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Surgical Drill Bits Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Surgical Drill Bits Market: Market Share Analysis
  11.2. Surgical Drill Bits Distributors and Customers
  11.3. Surgical Drill Bits Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Dentsply Sirona
     11.4.2. Arthrex, Inc.
     11.4.3. Zimmer Biomet Dental
     11.4.4. Integra LifeSciences
     11.4.5. Stryker Corporation
     11.4.6. Institute Straumann AG
     11.4.7. Teleflex Incorporated
By Product
  • Standard Solid Drill Bits
    • Single Use Drill Bits
    • Reusable Drill Bits
  • Cannulated Drill Bits
    • Single Use Drill Bits
    • Reusable Drill Bits
  • Calibrated Drill Bits
    • Single Use Drill Bits
    • Reusable Drill Bits
By Function
  • Cutting
  • Tapping
  • Marking
  • Shaping
By Delivery Mode
  • Orthopedic Surgery
  • Neurosurgery Dental Surgery
  • General Surgery
  • Veterinary
By End-use
  • Hospitals
  • Office Based Clinics
  • Ambulatory Surgical Centers
By Regions
  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa
By Key Players
  • Dentsply Sirona
  • Arthrex, Inc.
  • Zimmer Biomet Dental
  • Integra LifeSciences
  • Stryker Corporation
  • Institute Straumann AG
  • Teleflex Incorporated
  • CONMED Corporation
  • Medline Industries, LP

Major players in the market include Dentsply Sirona, Arthrex, Inc., Zimmer Biomet Dental, Integra LifeSciences, Stryker Corporation, Institute Straumann AG, Teleflex Incorporated, CONMED Corporation, Medline Industries, LP. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Surgical Drill Bits Market by key players

Buy Report