PUBLISHER: The Business Research Company | PRODUCT CODE: 1426499
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426499
A surgical drill is a specialized medical instrument designed for cutting, drilling, or creating holes in bone or hard tissues during surgical procedures. These precision instruments are used by surgeons in various types of surgery, particularly in orthopedics, neurosurgery, dentistry, and other medical fields.
The main products associated with surgical drills include pneumatic drills, electric drills, battery-powered drills, and related accessories. A pneumatic drill, also known as an air drill or air-powered drill, is a power tool that utilizes compressed air to generate rotational force for drilling holes or driving screws and other fasteners. These drills come in various materials, including both reusable and disposable options, and are employed in orthopedic surgeries, dental surgeries, ENT (ear, nose, and throat) surgeries, neurology surgeries, and other medical procedures. The primary end-users of these products are hospitals, clinics, ambulatory surgery centers, and other healthcare facilities.
The surgical drill market research report is one of a series of new reports from The Business Research Company that provides surgical drill market statistics, including the surgical drill industry global market size, regional shares, competitors with surgical drill market share, detailed surgical drill market segments, market trends and opportunities, and any further data you may need to thrive in the surgical drill industry. This surgical drill market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The surgical drill market size has grown strongly in recent years. It will grow from $1.15 billion in 2023 to $1.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The increase observed in the historical period can be attributed to the initial expansion of the market, trends in healthcare spending, the pioneering integration of robotics, the establishment of regulatory frameworks, and early-stage research and development efforts.
The surgical drill market size is expected to see strong growth in the next few years. It will grow to $1.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to global market penetration, increased healthcare spending, the continued integration of robotics, adherence to regulatory standards, and ongoing investment in research and development. Major trends expected in the forecast period involve an increase in surgical procedures, a rise in the geriatric population, a growing demand for minimally invasive surgeries, a focus on enhanced portability and ergonomics, and increased investment in research and development.
The anticipated growth in the number of surgical procedures is poised to drive the surgical drill market. Surgical procedures, integral to treating various illnesses or injuries, involve the skilled use of surgical drills to create precise openings in bone, tissue, or rigid structures. These drills play a vital role in applications such as cardiovascular and gynecologic surgery, as well as knee replacement procedures. Notably, the 2022 Australian Orthopedic Association National Joint Replacement Registry reported an 7% increase in hip, knee, and shoulder joint replacement procedures in 2021 compared to the previous year, indicating a rising trend in surgical interventions and contributing to the growth of the surgical drill market.
The increasing demand for aesthetic surgeries is expected to further propel the market. Aesthetic surgery, focusing on enhancing physical appearance through procedures such as rhinoplasty or chin augmentation, relies on surgical drills for precise incisions and bone modifications. In 2021, a report from the Aesthetic Society indicated a 54% increase in surgical procedures, with plastic surgeons performing 320 aesthetic surgical procedures, showcasing the heightened demand for aesthetic surgeries and underscoring the role of surgical drills in meeting these demands.
Challenges such as the lack of sterilization practices and inadequate quality assurance may impede market growth. Ensuring patient safety and successful surgical outcomes requires high-quality, thoroughly sanitized surgical drills. Instances of inadequate quality assurance, as seen in the voluntary recall of drills by Stryker Corporation due to potential quality issues, highlight the critical importance of stringent quality standards in the manufacturing process. Failure to adhere to sterilization standards poses risks of infection during surgery, underscoring the need for rigorous practices to overcome hindrances in the surgical drill market.
Leading companies in the surgical drill market are driving innovation by introducing advanced technologies such as the shrill shaver drill system to expand their customer base, boost sales, and increase revenue. Specifically designed for the removal of soft tissue and bone, the shrill shaver drill system proves highly effective in treating degenerative spine stenosis. An example of this innovative approach is evident in Joimax GmbH, a German company specializing in full-endoscopic and minimally invasive spinal surgery technologies. In June 2021, Joimax launched a new generation of the shrill shaver drill system, incorporating cutting-edge features for enhanced performance. The latest iteration of the shrill shaver drill system from Joimax includes a glass touch panel, facilitating convenient maintenance and cleaning. Noteworthy advancements comprise a new Shrill console capable of delivering up to 10,000 rpm and precise torque, ensuring controlled and efficient tissue ablation. The system further introduces an adjustable acceleration ramp, programmable to meet individual requirements, along with the integration of new diamond blades. Improvements in bone-related functions enhance the overall functionality of the device, which also incorporates handle and blade detection for automatic adjustment of connected handpieces to the corresponding parameters.
In January 2022, Klingel Medical Metal GmbH, a German company specializing in high-end components, instruments, and implants, executed the acquisition of Ruetschi Technology AG. The precise financial details of the acquisition remain undisclosed. Through this strategic acquisition, Klingel seeks to further strengthen its standing as a premier European MedTech contract manufacturer. Additionally, the move positions Klingel as a key partner for top global customers, emphasizing a commitment to meeting the highest quality requirements in the industry. Ruetschi Technology AG, based in Switzerland, specializes in the manufacture of surgical cutting tools, including surgical drills, designed for use in surgery and orthopedics.
Major companies operating in the surgical drill market report are Braun Melsungen AG, Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Altra Industrial Motion, Arthrex Inc., GPC Medical Ltd., CONMED Corporation, Bioanalytical Systems Inc., Exactech Inc., SOFEMED International, Orthopromed Medical Supplies Inc., De Soutter Medical Ltd., ClearPoint Neuro Inc., MatOrtho Limited, AlloTech Co.Ltd., MicroAire Surgical Instruments LLC, Brasseler USA, Millennium Surgical Corp., Nouvag AG, Aygun Surgical Instruments Co.Inc., Adeor medical AG, Traumec Health Technology, Shanghai Bojin Medical Instrument Co. Ltd., Cliniva Healthcare
North America was the largest region in the surgical drill market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical drill market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the surgical drill market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The surgical drill market consists of sales of sterilization equipment, disposable surgical drills, microsurgical drills, and cannulated drills. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surgical Drill Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surgical drill market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surgical drill? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surgical drill market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.