High Speed Surgical Drill Market Size To Rise USD 854.96 Million By 2032

04 Jan 2024

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Table of Content

1. Market Overview 2. Regional snapshot 3. High Speed Surgical Drill Market Report Scope 4. Market Dynamics 5. Recent Developments 6. Key Market Players

The global high speed surgical drill market size exceeded USD 586 million in 2022 and is expected to rise to USD 854.96 million by 2032, growing at a CAGR of 3.90% during the forecast period from 2023 to 2032.

Market Overview

The high-speed surgical drill is a complex system that uses parts with sharp edges to cut and reshape bone and other hard tissues of the human system. It's specifically used as a medical device in surgical intervention only by medical professionals who perform surgery. These tools are made to perform delicate and complex surgeries with higher precision without damaging nearby tissues around them. Therefore, the market has witnessed exponential growth due to the rising demand for surgical drilling tools worldwide.

Surgical drills have been segmented into two types based on their application and the requirement of specific interventions: pneumatic drills and surgical drills. Pneumatic drills give precise torque management with high rotational velocity, which helps surgeons perform tricky surgeries. It also has a long running time as it operates on highly compressed air. Therefore, pneumatic drills are primarily used in delicate surgeries like orthopedics, neurological interventions, and dental surgeries. On the other hand, electric drills are powered by a battery or uninterrupted electric power sources. They are lightweight and low maintenance. According to the recent data published in 2022, pneumatic surgical drills hold a larger portion of the market than electrical drills.

Several key enterprises drive the high-speed surgical drill market through their new research and developmental factors and provide its application as an innovative product. Principle players in the high-speed surgical drill markets include Johnson & Johnson, Medtronic, Zimmer Biomet, Stryker, Smith & Nephew, etc. These are among the main contributors in the market that help constantly evolve and try to meet the consumer requirements with the investor base.

• Stryker Corporation launched a high-speed surgical drill called the F1 small bone micro-power system. It is precisely designed to enhance surgeries related to bones. It's a cordless power tool that is powered by smartGRIP technology. It provides five motors that can be interchangeable for the specific requirements with attachments, allowing for more efficient procedures.

Regional snapshot

North America dominates the high-speed surgical drill market. It stands out as an impactful market for surgical drill equipment on a broader level. The presence of key industry players is one of the main reasons this region has been able to establish its presence and is drastically growing in the global market.

The US market is primarily driven by factors like increased health expenditure and increasing access to medical facilities by a large group of people as surgical procedures are growing every year in developed countries like the US due to dental surgery and orthopaedical surgery, mainly for the geriatric population, sports injuries and rate of increasing fatal accidents. As per the report of the National Highway Traffic Administration of the US, about 2.5 million accident cases are registered every year across the nation. It's a huge amount that needs to be treated by surgical procedures, which further fuels the market's growth owing to the demand for surgical drill equipment.

• On 16 November 2020, Medtronic announced a tie-up with France-based Medicrea International to provide spinal surgery with the help of Artificial intelligence. This collaboration expands possible solutions for spine surgeries, which are AI-driven and robotic-assisted with personalized spinal implants, which made Medtronic the first provider to offer integrated spine solutions across the globe.

Asia Pacific is one of the leading contributors to the high-speed surgical drill market primarily due to developing countries like India and China. These countries have a much higher population growth rate, which leads to more demand for surgical needs to meet the medical requirements of such a large segment of patients. The increasing geriatric population that needs orthopaedical treatments on a larger scale is a crucial factor for the further growth of the surgical drill market in the Asia Pacific region. Furthermore, well-equipped infrastructure for surgeries and medical emergencies fuels the market growth along with the rise in chronic disorders like cancer, cardiovascular health conditions, kidney failures, diabetes, etc.

Europe is a major marketplace for the established electric and battery-powered surgical drills market. This market mainly focuses on environmentally friendly surgical applications and technological advancements. According to research, the European high-speed surgical drills market is expected to hold the second-largest market share by the year 2035, underlining its importance in the global landscape.

High Speed Surgical Drill Market Report Scope

Market Dynamics

Drivers

Increasing cases of orthopedic disorders

A large group of people are suffering from orthopedic disorders worldwide that need medical treatment along with inevitable surgical interventions. These conditions include lowering bone density, arthritis, osteoporosis, severe fractures, rheumatoid arthritis, spinal cord disorders, etc. The increasing geriatric population needs to be more aware of orthopedic disorders as they are more prone to such disorders due to the low bone density caused by the age factor. To treat such patients, precise and effective surgeries have become mandatory. In such cases, high-speed surgical drills are crucial in precise surgery with minimum invasion.

According to the data published by Global Burden of Disease, nearly 1.71 billion people are suffering from orthopedic disorders. Midas Rex MR8 is a machine launched by Medtronic for use in various surgical procedures, including smooth and precise bone cutting. Such cases will vigorously lead the high-speed surgical drills market and are expected to increase its turnover on a broader scale.

Technical advancement of high-speed surgical equipment

Manufacturers of surgical drill equipment are more concerned with technological advancement and its market trend. They are trying to launch a product that is handier, more flexible, and more flexible for medical professionals, more sophisticated, and compatible with surgical navigation systems to meet the data analysis requirements needed for surgery. High-speed surgical tools are becoming more compact and designed with features like precision controls and safety mechanisms. Integrating technology like AI and robotics with surgical drills and their applications in the medical field is subject to driving a market at a high pace.

Restraint

High cost of advanced surgical drills

Surgical drills are becoming more technically advanced as a part of continuously evolving technology concerning the market's demand, as technology is a more crucial and delicate part of drills such as Systeam. It has a higher maintenance cost than conventional drills, making it more valuable and, thereby, requiring skilled professionals to handle it as it is designed to be used precisely. The lack of such skilled medical professionals to handle high-cost advanced drill tools can be a hindrance to its market demand and growth as well.

Opportunity

Growing medical tourism

Medical tourism is becoming more accepted and popular as it provides several opportunities to solve any health disorders and opens a door for everyone seeking professional help to treat diseases they are dealing with. Medical tourism is a term that refers to traveling abroad for medical treatment and includes healthcare professionals like physicians, surgeons, and staff. Healthcare services like clinics and well-equipped hospitals with medical travel facilitator, governments, and their agencies provide the best possible medical treatment with facilities that can be avail by patients.

Digitalization in the field of medical tourism plays a crucial role as it connects diverse regions to accommodate medical tourism services widely. Collaboration of the IT sector with medical tourism enhances the medical ecosystem to drive at its higher pace by connecting people from several regions and making them available for every possible treatment from every corner of the world. For instance, the Indian government has also published guidelines for medical tourism from the Ministry of Tourism India. The potential wellness system can be poised by keeping India as a center for ancient wisdom like Yoga, Ayurveda, naturopathy, and spiritual philosophy together as it has been an integral part of Indian culture and a way of living a purposeful life with full potency.

Recent Developments

• In June 2022, a medical device company popularly known as Ethicon announced the launch of its digitally functional device called the ECHELON stapler. This device offers an excellent articulation pathway for surgeons to meet their patient's requirements.it is simpler to use and handy for surgical interventions.
• In April 2022, Ethicon introduced a product for jaw tissue sealer called ENSEAL. It's a highly technically advanced device that provides a larger area of section and apprehends more tissues per grip.it is a bipolar device that can function as a cutting tool and bisects tissues as well.
• In March 2021, Ethicon medical devices company launched a product on a global platform named ECHELON+ stapler. It's a powerful surgical tool that eventually provides security for staple lines, reducing complications through uniform compression techniques for tissue and clean staple line formation.
• In July 2021, Zimmer Biomet launched a surgical power system tool that is specifically designed to be attached for various surgical applications to use as per surgical requirements with precision.it is indeed an impactful development made available by Zimmer Biomet in the healthcare market that offers functional features that are helpful for critical surgeries and their outcomes.

Key Market Players

• Medtronic
• Conmed
• Stryker
• Smith & Nephew
• Zimmer Biomet
• J&J
• Nouvag AG
• AYGUN CO.,INC
• Aesculap
• Brasseler USA

Market Segmentation

By Type

• Pneumatic High-Speed Surgical Drill
• Electric High-Speed Surgical Drill

By Application

• Orthopedic
• Dental
• Neurology
• Others

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