Surgical Power Tool Market Revenue to Cross USD 3 Bn by 2027: Global Market Insights Inc.

SELBYVILLE, Del., May 11, 2021 /PRNewswire/ -- According to the latest report "Surgical Power Tool Market by Product (Handpiece, Disposables, Accessories), Technology (Electric-operated Power Tools, Battery-driven Power Tools, Pneumatic Power Tools), Device Type (Large Bone Power Tools, Medium Bone Power Tools, Small Bone Power Tools, High Speed Drilling Systems), Application (Orthopedic Surgery, Dental Surgery, ENT Surgery, Neurology Surgery, Cardiothoracic Surgery), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of surgical power tools will cross $3 billion by 2027

Growing prevalence of neurosurgical, orthopedic disorders coupled with technological developments and innovations in surgical power tools, will impel the market growth. Development in novel approaches to traditional surgical restrictions are facilitated by power-driven surgical instrumentation. Advancements in orthopedic sports treatment and the advent of minimally invasive surgeries using surgical power tools enable faster stabilization and earlier recovery in patients. Integration of digital systems and better access to data offers higher precision, predictability, and reduces treatment cost. Such advances will offer substantial growth opportunities for the surgical power tool market in the coming years.

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Several surgical power tool market players are emphasizing on the introduction of innovative technologies in areas such as batteries, motors, and ergonomics. For instance, surgical power tools offered by major industry leaders such as Medtronic, Stryker and Johnson & Johnson reduces the number of devices needed to perform the surgical procedures. Moreover, electric motors being used in surgical power tools have become more powerful with availability of 18-volt devices. In addition to that, emergence of brushless motors equipped with advanced sensors to regulate speed offer finer degree of operator control and better reliability. These newer technologies related to surgical power tool systems improvise battery-life, versatility and lower down the costs. With the growing number of surgeries, advancements and product development in surgical power tools will amplify the industry expansion during the forecast timeframe.

The handpiece segment in the surgical power tool market accounted for USD 856 million in 2020, owing to high versatility enabling the surgeons to saw, drill or ream using the same handpiece. These instruments feature rapid release, timesaving, quick-fit mechanism, along with the ability to different attachments with a single handpiece. Technological advancements continue to enhance the performance of these devices.

The pneumatic surgical power tool market is anticipated to expand at 6.2% growth rate by 2027 on account of the advantages such as centralized power supply, longer service life and less risk of electrocution. Pneumatic powered tools are increasingly used as they can easily connected to the compressed air network in hospitals and surgical centers. Modern pneumatic surgical tools have implemented novel approaches for noise reduction. This has led to advent of virtually silent and maintenance-free pneumatically powered surgical tools, thereby augmenting the product adoption and the industry growth significantly.

The surgical power tool market for the highspeed drilling systems segment was valued at more than USD 365 million in 2020 led by the exceptional power, suitable for a wide range of surgeries, and high torque among others. The high-speed drilling systems are precise devices consisting of different drill bits used in a broad range of applications that comprise dental, orthopedic, and ENT surgery among others. Manufacturers emphasize on developing the novel product portfolio with advanced technologies. These tools are widely used during the treatment of fracture and bone dislocation caused by sports injuries. According to the European Federation of National Associations of Orthopedics and Traumatology (EFFORT), cases of fractures in Europe are expected to reach around 4.5 million by 2050. Hence, the significant advantages of high-speed drilling systems, including durability, low maintenance, and ease of use, among others, will fuel the segment progression during the forecast period.

The ENT surgery segment in the surgical power tool market is estimated to attain a CAGR of 6.7% to reach USD 487 million by 2027 due to the rising acceptance of minimally invasive ENT surgeries that provides several advantages such as less scarring, reduced trauma to organs, and rapid recovery. ENT surgical power tools are used for surgery related to the ear, nose, or throat to treat complications related to hearing, smelling, snoring, etc. Furthermore, a surge in segmental growth is attributed to the rising prevalence of chronic sinusitis and favorable reimbursement policies for ENT surgical procedures in developed nations.

As per the Centers of Disease Control and Prevention (CDC), about 11.6% of the adult population is suffering from chronic sinusitis. This rising prevalence of chronic sinusitis is propelling the demand for ENT surgical procedures that include functional endoscopic sinus and endoscopic sinus surgery. Hence, the increased prevalence of age-related ailments coupled with growing awareness about health and wellbeing among the general population will foster the segment expansion during the forecast period.

Brazil surgical power tool market size was over USD 25 million in 2020 and is predicted to expand at a CAGR of 8.4% till 2027 owing to the rising disposable income, developing medical infrastructure, and increasing healthcare expenditure. For instance, as per the research performed in Brazil, the number of orthopedic surgeries performed are rising and the hospitalizations for orthopedic treatments have surged, driven mainly by lower limb surgeries. Factors such as lack of physical activity, poor diet intake, and rising government initiatives for spreading awareness pertaining to orthopedic disease treatment in the country are also driving the market value. Additionally, as per the article published by the National Center for Biotechnology Information (NCBI), osteoarthritis is the most prevalent musculoskeletal disorder affecting around 4% of the Brazilian population. By 2050, around 30% of the Brazilian population will be represented by elderly people, which will result in high prevalence of chronic neurological disorder and other orthopedic diseases.

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Some of the major companies operating in the surgical power tool market are Medtronic plc, Stryker Corporation, Zimmer Biomet, Orthopromed, Nouvag AG, Medical Bees GmbH, MatOrtho, Exactech, DePuy Synthes (Johnson & Johnson), B. Braun Melsungen AG, iMEDICOM, and DeSoutter Medical among others. These participants are engaged in undertaking several strategies and working on expanding their product portfolio through focusing on research and development of innovative products.

Table of Contents (ToC) of the report:

Chapter 3   Surgical Power Tool Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 - 2027

3.3    Industry impact forces

3.3.1    Growth drivers

3.3.2    Industry pitfalls & challenges

3.4    Growth potential analysis

3.4.1    By product

3.4.2    By technology

3.4.3    By device type

3.4.4    By application

3.5    COVID-19 impact analysis

3.6    Porter's analysis

3.7    Competitive landscape, 2020

3.7.1    Competitive matrix analysis, 2020

3.8    PESTEL analysis

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Surgical Power Tool Market Growth Predicted at 6.5% Through 2027: GMI
Major surgical power tool market players include Medtronic plc, Stryker Corporation, Zimmer Biomet, Orthopromed, Nouvag AG, Medical Bees GmbH, MatOrtho, Exactech, DePuy Synthes (Johnson & Johnson), B. Braun Melsungen AG, iMEDICOM, and DeSoutter Medic

SOURCE Global Market Insights Inc.