The surgical power tools market is witnessing substantial growth, projected to reach $3.25 billion by 2030 with a CAGR of 4.3% during the forecast period from 2023 to 2030. These power tools are essential in bone and bone fragment surgeries, designed for drilling, sawing, reaming, and screwing. They play a critical role in modern surgical procedures, offering higher accuracy and precision.

Increasing Prevalence of Neurological Disorders Driving Market Growth

The rising incidences of neurological disorders significantly boost the global surgical power tools market. According to the WHO 2022 report, nervous system disorders are the leading cause of disability-adjusted life years (DALY) and the second leading cause of death globally. The increasing number of neurological disorders among the aging population results in a higher burden of these conditions, consequently leading to a rise in neurosurgeries. Surgical power tools are extensively used in these procedures, especially in minimally invasive neurosurgeries. The preference for minimally invasive surgeries in emerging countries, driven by the adoption of advanced surgical tools, presence of qualified healthcare professionals, and increasing investments by major market players, further supports market growth. The high precision, reliability, and ease of use of surgical power tools make them the preferred choice for neurological surgeries.

Technological Advancements in Surgical Power Tools to Spur Market Growth

Technological advancements in surgical power tools are pivotal in driving market growth. Major players such as Johnson & Johnson and Medtronic focus on enhancing the ergonomics, motors, and batteries of these tools. The availability of 18-volt devices in electric motors makes them more powerful for critical surgical operations. The introduction of brushless motors embedded with hi-tech sensors has enhanced the reliability and operator control of surgical power tools. These advancements not only improve precision but also reduce overall procedure costs and extend battery life. The continuous development and launch of innovative products by major players are expected to drive the market further.

Key Findings in the Global Surgical Power Tools Market Study

Handpieces Segment to Dominate the Market Based on Product

In 2023, the handpieces segment is anticipated to account for the largest share of the market. This growth is primarily due to the increasing demand for advanced drills and saws in orthopedic surgery. The optimal power flow features, seamless surgical delivery, and compatibility with a wide range of reusable and disposable accessories make handpieces the preferred choice for surgical professionals. Their versatility across various surgical procedures significantly contributes to the segment's growth.

Neurosurgery Segment to Register the Highest CAGR Based on Application

The neurosurgery segment is projected to witness the highest CAGR during the forecast period. The increasing adoption of minimally invasive neurosurgeries drives this growth. Patients prefer minimally invasive procedures due to shorter incision lengths, reduced recovery times compared to traditional surgeries, less trauma and tissue disruption, and shorter hospital stays. This rising preference for minimally invasive neurosurgeries boosts the demand for surgical power tools in the neurosurgery segment.

Disposable Tools Segment to Register the Highest CAGR Based on Usage

The disposable tools segment is expected to register the highest CAGR during the forecast period. The increasing cost of surgeries and growing awareness to reduce infection spread are key factors driving this segment's growth. There has been a significant shift towards the use of disposable surgical power tools, which are preferred over traditional reusable tools due to the higher risk of infection associated with reuse. The use of disposable tools enhances workflow efficiency, further propelling the segment's growth.

Hospitals Segment to Account for the Largest Share Based on End User

In 2023, the hospitals segment is anticipated to hold the largest market share. This is attributed to the increasing preference for hospitals and ambulatory surgical centers for performing critical surgeries. The availability of qualified staff, advanced surgical tools, and well-established lab setups in hospitals significantly contributes to the segment's growth.

North America: The Largest Regional Market

North America is expected to dominate the surgical power tools market, driven by the increasing number of brain surgeries, bone injuries from accidents, and other neurological disorders. The region's growth is also attributed to the availability of skilled neurosurgeons, a well-established healthcare infrastructure, and growing awareness about minimally invasive surgeries. Additionally, the increased FDA approvals for newly-launched devices and new product launches by major market players in the region further contribute to market growth.

Key Players and Their Contributions

Several key players in the market, including Stryker Corporation, Zimmer Biomet, B. Braun Melsungen AG, and Conmed Corporation, are contributing to market growth through continuous innovations and strategic initiatives. These companies focus on enhancing their product portfolios and expanding their geographical presence to gain a competitive edge in the market.

Challenges and Opportunities

Despite the promising growth, the surgical power tools market faces certain challenges, including the high cost of advanced surgical power tools and stringent regulatory requirements. However, the increasing demand for minimally invasive surgeries and the rising adoption of surgical power tools in emerging markets present significant opportunities for market players.

Future Outlook

The future of the surgical power tools market looks promising with ongoing technological advancements and increasing investments in healthcare infrastructure. The continuous development of innovative products and the growing preference for minimally invasive surgeries are expected to drive the market forward. Moreover, the expanding applications of surgical power tools in various surgical procedures, including orthopedics, neurology, and ENT, will further bolster market growth.

Key Players

The key players operating in the surgical power tools market are Medtronic Plc (Ireland), ConMed Corporation (U.S.), B. Braun Melsungen AG (Germany), Zimmer Biomet Holdings, Inc. (U.S.), Johnson & Johnson (U.S.), Stryker Corporation (U.S.), De Soutter Medical Limited (U.K.), AlloTech Co. Ltd. (South Korea), Smith & Nephew plc (U.K), and NOUVAG AG (Switzerland).

Download PDF Brochure @ https://www.meticulousresearch.com/download-sample-report/cp_id=5399

Key questions answered in the report-

·  Which are the high-growth market segments in terms of product, application, usage, end user, and regions/countries?

·  What was the historical market for surgical power tools across the globe?

·  What are the market forecasts and estimates for the period 2023–2030?

·  What are the major drivers, restraints, challenges, opportunities, and trends in the global market of surgical power tools?

·  Who are the major players in the global surgical power tools market?

·  What is the competitive landscape, and who are the market leaders in the global surgical power tools market?

·  What are the recent developments in the surgical power tools market?

·  What are the different strategies adopted by the major players in the surgical power tools market?

·  What are the geographical trends and high-growth regions/countries?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research