The surgical drills market had a market value of US$ 419.9 million in 2017 and is expected to grow at a CAGR of 4.6% between 2018 and 2026.
Market Synopsis
Battery-powered drills will be the fastest-growing segment throughout the forecast period due to their high efficiency, user-friendly design, and wide range of accessories.
Battery-powered drills will maintain their significant growth during the forecast period of 2018 to 2026 due to key factors such as their user-friendliness due to their metal alloy bodies that make them lightweight and their lithium batteries, which provide superior run times and an increased life cycle of the device along with consistent performance. Furthermore, according to a few market experts, battery-powered drills have significantly increased the total number of cases operated in the United States, the time spent per case in the operating room, and the average waiting time for surgery.
Awareness related to oral and dental health well-being is increasing, which is assisting the overall growth of the dental surgical drills market.
The dental surgeries segment is expected to grow at a significant rate throughout the forecast period due to key market driving factors such as increased awareness of oral and dental problems and the development of overall dental drill technology, which makes it highly convenient for users due to its design and lightweight. According to the World Health Organization, the Global Burden of Disease Study 2016 suggested that nearly half of the world's population (3.58 billion people) suffered from oral diseases, with dental caries in permanent teeth being the most prevalent condition assessed.
Developing healthcare infrastructure and rising awareness about chronic disease diagnosis and treatment in Asia-Pacific developing countries are expected to contribute to the overall growth of the surgical drill market.
According to a recent study published by the World Health Organization, hip and knee replacement procedures carried out in the major Asia-Pacific countries such as Australia, Japan, South Korea, India, and China are projected to grow at a 10% CAGR between 2017 and 2024, with the expectation of approaching nearly 2.4 million procedures performed by 2024. Thus, the major factors assisting the growth of the Asia Pacific surgical drills market are rising prevalence and awareness related to chronic diseases, developing healthcare infrastructure in developing countries, and high accessibility related to modern surgical devices.
Periods of History and Forecast
The surgical drills market was analyzed considering current market trends for the base year of 2017, and based on future trends, CAGRs were calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
This report on the surgical drills market comprises a detailed study including qualitative and quantitative information related to the key market dynamics (drivers, opportunities, and restraints) affecting the market, along with regional and country-specific market trends. An in-depth summary of the global surgical drills market is given in the report by segmenting the market based on product type, application, and geography. The objective of publishing this exhaustive research report is to aid the industry stakeholders in making decisions and implementing strategies in the surgical drill market.
This report further includes qualitative information related to the aforementioned market segments, covering information such as key market trends, market drivers, opportunities, and restraints to achieve a precise understanding of the global surgical drills market. In addition to that, the major market players are investigated in the report based on key attributes such as product portfolio, business strength, and key market strategies.
The report also provides an attractive investment proposition based on the exhaustive geographical research carried out based on PESTEL analysis. Key players profiled in the report include Stryker Corporation, Zimmer Biomet Holdings, Inc., Medtronic plc, DePuy Synthes, CONMED Corporation, B. Braun Melsungen AG, and Arthrex, Inc., among others.
Key questions are answered in this report.
Which is the trending surgical drill type in the market and why?
What are the recent market strategies adopted and executed by major market players present in the surgical drills market?
Which are the most attractive markets (regions and countries) leading and swiftly growing throughout the forecast period in the surgical drills market?
Which is the largest and fastest-growing surgical drill application globally?
Which are the major applications contributing to the overall growth of surgical drills in the near future?
What is the competitive environment in the surgical drill market like, and what are the key players' strategies in this industry?
Frequently Asked Question:
The market for Surgical Drills Market is expected to reach USD$ 419.9 Mn in 2026.
The Surgical Drills Market is expected to see significant CAGR growth over the coming years, at 4.6%.
The report is forecasted from 2018 -2026.
The base year of this report is 2017.
Stryker Corporation, Zimmer Biomet Holdings, Inc., Medtronic plc, DePuy Synthes, CONMED Corporation, B. Braun Melsungen AG. are some of the major players in the global market.
