Surgical Power Tools Market Size By Product (Handpiece, Disposables {Drills/Perforators, Saws, Staplers, Reamers, Blades, Burrs, Shavers}, Accessories), By Technology (Electric-operated Power Tools, Battery-driven Power Tools, Pneumatic Power Tools), By D

Surgical Power Tools Market Size By Product (Handpiece, Disposables {Drills/Perforators, Saws, Staplers, Reamers, Blades, Burrs, Shavers}, Accessories), By Technology (Electric-operated Power Tools, Battery-driven Power Tools, Pneumatic Power Tools), By Device Type (Large Bone Power Tools, Medium Bone Power Tools, Small Bone Power Tools, High Speed Drilling Systems), By Application (Orthopedic Surgery {Spine, Trauma, Joint, Craniomaxillofacial}, Dental Surgery, ENT Surgery, Neurology Surgery, Cardiothoracic Surgery), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032

Global Surgical Power Tools Market is poised to gain significant returns through 2032, primarily owing to the increasing incidences of orthopedic disorders. To cite an instance, the National Center for Health Statistics claims that in the U.S. alone, more than 5.2 million surgeries, related to the musculoskeletal system are performed annually.

Additionally, key market players are also increasingly engaging in R&D activities to enhance the market potential of surgical power tools. Not to mention, novel innovations in the space are as well paving way for the market progression. To cite an instance, in December 2022, Advanced Intelligent System revealed a latest invention of a smart laparoscope that can adjust itself during surgery. As per the report claims, the device has been equipped with machine learning techniques to lessen the workload of surgeons.

Overall, the surgical power tools market has been segmented on the basis of product, technology, device, application, and region.

On the basis of product, the market is likely to be characterized by the accessories segment, which held a market value of more than USD 450 million in 2022. The increasing adoption of surgical power accessories in orthopedic surgeries is anticipated to drive the market share between 2023 and 2032. Besides, technological advancements and the development of lightweight and highly portable products will also fuel the market demand.

In terms of device, high speed drilling systems is likely to foster the market growth through 2023-2032. The segmental expansion can be attributed to the advantages of high speed drills such as high torque, low maintenance, and durability. Besides, technological advancements and increasing surgical procedures using high speed drills will also favor the market. For instance, in February 2021, it was reported that surgeons in the U.S. successfully performed minimally invasive spinal procedures using a new disc prep by Medtronics, and Midas Rex high-speed drills with the Mazor Robotic Guidance System.

Based on application, the orthopedic surgery segment will experience robust growth through 2032, due to increasing cases of road traffic and sports-related accidents. Moreover, the high adoption of minimally invasive surgical procedures is further slated to complement the growing market curve. For instance, in January 2020, a study titled “Trends in the Adoption of Robotic Surgery for Common Surgical Procedures” revealed that the number of robotic surgeries increased drastically, from 1.8% to 15.1% between 2012 and 2018. Additionally, an increase in obese and diabetic patients will also favor the market expansion by 2032.

In the regional context, the Europe surgical power tools market will grow at more than 4.5% CAGR through 2032. The regional growth can be credited to the growing geriatric population along with increasing cases of orthopedic disorders. Besides, rising cases of neurological disorders, availability of better healthcare infrastructure, and favorable reimbursement scenarios are other factors that will drive the market.