Surgical Drills Market by Product (Accessories, Instruments), Type (Disposable, Reusable), Application, End User - Global Forecast 2024-2030

Surgical Drills Market by Product (Accessories, Instruments), Type (Disposable, Reusable), Application, End User - Global Forecast 2024-2030

The Surgical Drills Market size was estimated at USD 1.56 billion in 2023 and expected to reach USD 1.71 billion in 2024, at a CAGR 10.54% to reach USD 3.14 billion by 2030.

Surgical drills are essential for boring holes in bone for medical screw fixation and removing bone tissues to access target surgical sites. They are widely adopted in numerous surgical procedures, including orthopedic, neurosurgery, ear, nose, throat, and dental. Surgical drills need fewer steps to simulate surgery, saving time using a more reliable and accurate method. The availability of cutting-edge surgical drills enables effective surgical outcomes for surgeons. However, certain limitations, such as breakage risk drill bit and heating issues due to speedy rotation, can impact the surgical drill performance. The new developments in the field, such as robotic automated surgical drills and miniaturized design, are attracting end-users and gaining more product penetration potential.

Regional Insights

America showcases a developed and innovative landscape for the surgical drills market owing to the rising incidence of road accidents and the rising need for orthopedic procedures. Moreover, product development and partnerships between key market players drive the demand for surgical drills in the region. In Europe, the Middle East & Africa, the surgical drill market is growing steadily with the developed healthcare infrastructure, availability of advanced instruments such as surgical drills, government support for medical training, and growing medical tourism. The rise in the number of surgical orthopedic and cosmetic surgical procedures recorded in the Asia-Pacific region. In addition, increasing surgical centers across emerging economies and improving product availability showcase the positive trend for the Asia-Pacific surgical drill development.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Surgical Drills Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing prevalence of chronic disorders and accidental cases requiring surgical intervention
    • High occurrence of dental disorders and need for implants
    • Market Restraints
      • High cost of powered surgical drill instruments and recall of surgical drills
      • Market Opportunities
        • Emergence of robotic and computer-assisted surgical drills
        • Novel development in miniaturized and portable surgical drills
        • Market Challenges
          • Limitation and complications associated with the surgical drills
          • Market Segmentation Analysis
            • Type: Growing preference for reusable surgical drills flexibility, durability, and high performance
            • Application: Ongoing advancements surgical drills for neurological surgeries for reducing vibration and enhancing precision
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Surgical Drills Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Surgical Drills Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • McGinley Orthopedics Received Innovative Technology Contract from Vizient for IntelliSense Orthopedic Drill
              
              McGinley Orthopedics and Vizient partnered up to bring the latest technology advancements in surgical drills to healthcare organizations. The Intellisense Orthopedic Drill is a groundbreaking new device built with superior accuracy and safety features to reduce the risk of complications associated with the operation. With this partnership between McGinley Orthopedics and Vizient, many more healthcare organizations across the nation are expected to improve their services with this capable device.
              
              Stryker Launched New Surgical Drill.
              
              Stryker launched their new and improved PeriGen Surgical Drill. This powerful device sets a high standard for surgical drills by providing excellent torque, vibration control and ergonomic grip to help surgeons find their comfort level in the operating room. With an extremely durable motor, extended battery life and portability, the PeriGen ensures that medical facilities get optimal performance from their drilling system while minimizing costs. This drill is designed specifically to meet the needs of physicians on insight from professionals in the field.
              
              Genome BC Invests USD 1.13 Million in Innovative Solution to Improve Surgical Care for Skeletal Traction
              
              Genome BC, a non-profit organization, announced its investment of USD 1.13 million in an innovative product designed to optimize surgical procedures and improve care for patients receiving skeletal traction. This new device utilizes cutting-edge technology that can safely and accurately control the position of drill bits during orthopedic surgeries. This specialized tool is estimated to reduce surgery time by up to two-thirds and minimize potential trauma caused by human error and misalignments of traditional medical drills. Patients can expect a minimized recovery period with better overall outcomes when using this revolutionary new product, creating a safe environment for surgeons and staff and improved patient care.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Surgical Drills Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Surgical Drills Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Accuromm USA Inc., Adeor Medical AG, Advance Tools, Advin Health Care, Alden Tool Company, Inc., Apothecaries Sundries Mfg. Pvt. Ltd., Arbutus Medical, Arthrex, Inc., B. Braun SE, Bioventus LLC, Brasseler USA, Changzhou Huida Medical Instrument Co., Ltd., Chongqing Xishan Science & Technology Co., Ltd., Conmed Corporation, De Soutter Medical Limited, GPC Medical Ltd., Imedicom Co., Ltd., Johnson & Johnson Service, Inc., Manman Manufacturing Company Private Limited, Marver Med Inc., McGinley Orthopedics, Medical Bees GmbH, Medical Component Specialists, Inc., Medtronic PLC, MicroAire Surgical Instruments, LLC, MW Industries, Narang Medical Limited, Nouvag AG, Peleton Surgical, Sharma Orthopedic (India) Pvt. Ltd., Sofemed, Stoelting Co., Stryker Corporation, Zimmer Biomet Holdings, Inc., and ​​Joimax GmbH.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Surgical Drills Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Accessories
              • Instruments
                • Battery Drill
                • Electric Drill
                • Pneumatic Drill
                • Type
                  • Disposable
                  • Reusable
                  • Application
                    • Dental
                    • ENT
                    • Neurological
                    • Orthopedic
                    • End User
                      • Hospitals & ASCs
                      • Specialty Clinics
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year