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Surgical Power Tools Market 2020 By Industry Trends & Regional Forecast To 2026

Wire India
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Selbyville, Delaware, United States, November 4 2020 (Wiredrelease) Global Market Insights, Inc –:Surgical Power Tools Market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

The surgical power tools market is likely to gain traction as a result of increasing cases of orthopaedic disorders, technological advancement in the surgical tools, and preference for surgical power tools to perform the surgeries with precision and minimum invasion. Moreover, growing number of hospitals and surgical centres have propelled the demand for surgical tools. Citing an instance, in 2018, the total number of ambulatory surgical centres in the U.S. were approximately 9,200 as reported by the Definitive Healthcare platform.

With rising number of healthcare facilities, the overall demand for the surgical power tools will gain momentum and consequently bolster surgical power tools market share. Another factor positively catering to the market share is the launch of surgical tools possessing fully electronically controlled motors that are brushless and sensor less.

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According to GMI report, surgical power tools market size is estimated to surpass USD 2.9 billion by 2026.

Germany is predicted to boost Europe surgical power tools market revenue over the forecast timeframe owing to increased number of neurological disorders and palpable preference for surgical power tools. Further, introduction of novel technologies will help companies gain a competitive edge in the industry as major players, such as Stryker, Johnson & Johnson and Medtronic present a more sophisticated and simplified approach leveraging the innate ability to saw, ream, and drill with the same handpiece. As per estimates, Germany garnered around 19% market share in 2019.

Speaking of the Asia Pacific region, India presents a wide scope for the adoption of surgical power tools. In 2016, the prevalence rate of osteoarthritis in the nation was 22% to 39% as published by the National Health Portal of India. These past trends signifying high rate of orthopaedic disorders will increase the demand for surgical power tools and open new avenues for the market to expand in APAC where osteoarthritis continues to be one of the most frequent joint diseases.

One of the main reasons for the prevalence of orthopaedic disorders to increase in the APAC region is the rising geriatric population that is increasingly susceptible to bone-related disorders. As per the World Health Organization (WHO), Japan has an average life expectancy of 83.7 years, South Korea has an average of 82.3 years, while in the United States, the average life expectancy is 79.3 years. That said, medical tourism is also an important factor driving APAC surgical power tools market. Convenient medical facilities and presence of fairly good healthcare personnel have increased the scope of APAC as a medical tourism destination, consequently raising the demand for surgical power tools.

In terms of the product, the handpiece segment is projected to strengthen the surgical power tools market size. Prominently, handpiece products had recorded a value of USD 952 million in 2019; a similar growth trajectory is estimated in the next six years.

Handpiece devices are known to provide high accuracy and efficiency while performing the dental and other orthopaedic surgeries for they enhance view and streamline accessibility of surgical sites.  Sustained demand for handpieces in applications such as placing bone screws, drilling and fixing guidewires will fuel surgical power tool market share.

In terms of the technology, the surgical power tools are categorized into electric, battery-driven, and pneumatic tools. Battery driven surgical tools are highly preferred due to their characteristics such durability, ease of usage, freedom of movement due to absence of cable and long life due to the usage of lithium batteries. Driven by the potential advantages offered by these tools; the battery driven surgical tool segment is expected to grow at an appreciable rate through 2026. In fact, the segment was responsible for a market share of 35% in 2019.

Considering the device type, the small bone power tools segment is expected to register an appreciable CAGR of 5.8% through 2026. The growth can be credited to the soaring number of dental, ENT and maxillofacial surgeries. As per the 2017 statistics published by the Office for National Statistics, the number of dental treatments in UK was about 12,010. With the increased number of dental and other small bone surgeries, device segment is estimated to mark a commendable growth by the end of forecast period.

In terms of application, the cardiothoracic surgery segment is projected to mark an appreciable growth, not to mention, in 2019, the segment had registered a value of USD 143 million. The growth in this segment can be attributed to rising number of cardiothoracic surgeries such as transplantation, open heart surgery, device implantation, etc. According to a report by the Texas Heart Institute, over 200,000 bypass surgeries are carried out in the U.S. every year, exhibiting robust growth projection of application portfolio.

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The industry players are focused on the alliances, acquisitions, new product launches and research activities to improve upon their offerings. Quoting an instance, in 2018, Medtronic acquired Mazor Robotics based in Israel which fortified Medtronic’s position on a global level.

Technological advancements in design and production are also a major factor responsible for augmenting the market share. Recently, Thomas Ferro, an orthopedic surgeon and the Medical Director of the Bone & Joint Center, Arroyo Grande, in California, for the first time, used FDA approved, single-use, handheld, cordless power tools for a knee replacement procedure. He claimed that the Insurgical saw and drill, available at the hospital for emergencies, saved a lot of time for the hospital and patient, as opposed to using used, washed, and re-sterilized tools. As per a report, around 1.5 million ortho procedures conducted annually in the U.S. use specialty surgical power tools to cut and shape bones.

On the competitive terrain, some of the renown names in the industry are AlloTech Co. Ltd., MatOrtho, Stryker, DePuy Synthes, DeSoutter Medical, Exactech, Nouvag AG, Medtronic, Zimmer and B.Braun 

Partial Chapter of the Table of Content 

Chapter 5.    Surgical Power Tools Market, By Technology

5.1. Key segment trends

5.2. Electric-operated Power Tools

5.2.1.    Market size, by region, 2015 – 2026 (USD Million)

5.3. Battery-driven Power Tools

5.3.1.    Market size, by region, 2015 – 2026 (USD Million)

5.4. Pneumatic Power Tools

5.4.1.    Market size, by region, 2015 – 2026 (USD Million)

Chapter 6.    Surgical Power Tools Market, By Device Type

6.1. Key segment trends

6.2. Large Bone Power Tools

6.2.1.    Market size, by region, 2015 – 2026 (USD Million)

6.3. Medium Bone Power Tools

6.3.1.    Market size, by region, 2015 – 2026 (USD Million)

6.4. Small Bone Power Tools

6.4.1.    Market size, by region, 2015 – 2026 (USD Million)

6.5. High Speed Drilling Systems

6.5.1.    Market size, by region, 2015 – 2026 (USD Million) 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/surgical-power-tools-market

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