Surgical Drills Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Surgical Drills Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The surgical drills market is projected to register a CAGR of 5.6% during the forecast period.

The COVID-19 pandemic impacted the growth of the surgical drill market. For instance, an article published by the journal Updates in Surgery in May 2021 reported that the spread of the SARS-CoV2 virus profoundly impacted the surgical community. The article also stated that an online survey conducted in Italy reported that there was a reduction in elective and emergency surgical activity during the COVID-19 pandemic. Thus, the use of surgical drills got significantly reduced during the COVID-19 pandemic, thereby impacting the growth of the surgical drill market. However, in the current scenario, with the reduction in COVID-19 cases, elective and emergency surgical procedures have resumed. Therefore the demand for surgical drills may increase compared to the beginning of the pandemic. Thus, the surgical drills market is expected to witness significant growth over the forecast period.

The factors driving the growth of the surgical drills market are the increasing number of surgeries and technological advancements. For instance, in 2021, The Aesthetic Society Databank reported that surgical procedures increased by 54% in the United States in the year 2021. The source also reported that 461,098 liposuction procedures, 364,753 breast augmentation procedures, and 242,939 abdominoplasty surgical procedures were performed in the year 2020-2021 in the United States. Thus, such a high number of surgical procedures may increase the demand for surgical drills.

Similarly, an article published by the journal BMC Health Services Research in July 2022 reported that a cross-sectional study with retrospective data review was conducted in 172 health facilities from December 30, 2020, to June 10, 2021, that stated 69,717 major and minor surgeries were performed in Ethiopia during the mentioned period. Thus, with such a high number of surgical procedures performed, the demand for surgical drills is constantly growing, thereby contributing to the growth of the studied market.

Furthermore, technological advancements and new product launches are expected to drive the growth of the studied market. For instance, in June 2021, German-based Joimax reported the global launch of its new generation Shrill, the shaver drill system, the shaver drill system. The device is developed for the removal of soft tissue and bone. The Joimax shrill system is also effective in treating stenosis, a degenerative spine condition.

Thus, due to the increasing number of surgeries and technological advancements, the market is expected to witness significant growth over the forecast period. However, post-surgical complications associated with surgical drills are expected to restrain the growth of the surgical drills market.

A pneumatic drill is used by an orthopedic surgeon to make holes in bones for fixing immobilization screws, wires, plates, implants, fitting prosthetic devices, etc. The pneumatic surgical drills segment is expected to witness significant growth over the forecast period owing to its increasing use in orthopedic and dental surgeries.

The high number of dental surgical procedures is increasing the demand for pneumatic surgical drills, thereby driving the growth of this segment. For instance, in 2021 Saudi Arabia Ministry of Health reported that 531,237 restorative dentistry procedures, 226,780 endodontics surgical procedures, and 150,385 orthodontics surgical procedures were performed in Saudi Arabia in the year 2021. Thus, such a high number of dental surgical procedures is increasing the demand for pneumatic surgical drills, thereby driving the growth of this segment.

Additionally, increasing surgical procedures performed globally is further driving the growth of this segment. For instance, in July 2022, the OECD database reported that 38,343 surgeries were performed in Chile, followed by 49,308 surgeries in Denmark, 32,844 surgeries in Ireland, and 94,872 surgeries in Portugal were performed in the year 2021. Thus, such a high number of surgeries may increase the demand for pneumatic surgical drills. thereby driving the growth of this segment.

Thus, a high number of surgical procedures is increasing the demand for pneumatic drills, thereby driving the growth of this segment.

North America holds a significant market share in the global surgical drills market and is expected to withstand its position over the forecast period owing to the rising incidence of road accidents and the increasing need for orthopedic procedures. Also, product approvals and partnerships between key market players are driving the demand for surgical drills in the region.

The rising number of surgical procedures is expected to drive the growth of this market in the region. For instance, in 2021 Canadian Institute for Health Information (CIHI) reported that 51,660 hip replacement surgery, 51,599 knee replacement surgery, and 50,415 fracture surgeries were performed in Canada during 2020-2021. Thus, such a high number of surgical procedures is expected to increase the demand for surgical procedures, thereby driving the growth of the studied market in the region.

Additionally, the high number of road fatalities may lead to a high number of surgeries, which may increase the demand for surgical drills, thereby driving the growth of the studied market. For instance, International Transport Forum 2021 published Mexico's Road Safety Report, which stated 13,630 road fatalities were reported in Mexico during 2020-2021. Thus, such a high number of road fatalities may contribute to the growth of the studied market in the country.

Moreover, the presence of skilled surgeons in the region is also expected to drive the growth of the studied market in the region. For instance, an article published by NCBI in October 2021 reported that quality training for orthopedic surgeons is leading to increasing orthopedic surgical procedures in the United States, thereby contributing to the growth of the studied market in the region.

Furthermore, product approvals and partnerships between key market players are expected to drive the growth of the studied market. For instance, in January 2021, Medtronic's Midas Rex high-speed drills navigated the interbody and disc prep platform with the Mazor robotic guidance system and received USFDA clearance. Thus, such product approvals are expected to contribute to the growth of the studied market in the region.

Thus, due to a high number of orthopedic surgical procedures, high road fatalities, the presence of highly skilled orthopedic surgeons, and product approvals, the market is expected to witness significant growth in the region.

The surgical drills market is very competitive, with most players competing to increase market shares. Strong competition and rapid technological advancements are key factors that confront the market. Key players in the market are Apothecaries Sundries Manufacturing Co., Bioanalytical Systems, Inc., GMI Ilerimplant Group, Medtronic PLC, Millennium Surgical Corp, Altra Industrial Motion Corp. (Portescap US Inc.), Stryker Corporation, Traumec Health Technology, and Zimmer Biomet Holdings Inc.

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