Industry Outlook

Surgical drills market accounted for a market value of US$ 419.9 Mn in 2017 and projected to grow at a CAGR of 4.6% during the forecast period from 2018 to 2026.

"Battery-powered drills will be the fastest growing segment throughout the forecast period due to its high efficiency, user-friendly design & wide range of accessories"

During the forecast period from 2018 to 2026, battery-powered drills will maintain its significant growth due to key factors such as its user-friendly due to its metal alloy body that makes it lightweight, and lithium battery provides superior run times & increased life cycle of the device along with consistent performance. In addition to this, a few market experts suggested that the battery-powered drills exhibited a significant development in the total number of cases operated in the U.S, time spent per case in the operating room and the average waiting time to have surgery has been reduced significantly.

"Awareness related to oral/dental health well-being is increasing which is assisting the overall growth of dental surgical drills market"

Dental surgeries segment expected to grow at significant rate throughout the forecast period due to key market driving factors such as increasing prevalence of dental problems due to increasing awareness related to oral/dental problems, and developing overall dental drill technology which makes it highly convenient for users due to design & lightweight. According to the World Health Organization, The Global Burden of Disease Study 2016 suggested that nearly half of the world’s population (3.58 billion people) suffered with oral diseases with dental caries in permanent teeth being the most prevalent condition assessed.

"Developing healthcare infrastructure and rising awareness related to chronic diseases diagnosis & treatment in developing countries of Asia Pacific expected to assist overall growth of surgical drills market"

According to a recent study published by World Health Organization, hip & knee replacement procedures carried out in the major Asia-Pacific countries such as Australia, Japan, South Korea, India, and China projected to grow at a 10% CAGR between 2017 and 2024 expected to approach nearly 2.4 million procedures performed by 2024. Thus, the major factors assisting the growth of Asia Pacific surgical drills market are rising prevalence & awareness related to chronic diseases, developing healthcare infrastructure in developing countries, and high accessibility related to modern surgical devices.

This report further includes qualitative information related to aforementioned market segments covering information such as key market trends, market drivers, opportunities, and restraints, to achieve precise understanding of global surgical drills market. In addition to that, the major market players investigated in the report based on key attributes such as product portfolio, business strength, and key market strategies. The report also provides attractive investment proposition based on the exhaustive geographical research carried out based on PESTEL analysis. Key players profiled in the report include Stryker Corporation, Zimmer Biomet Holdings, Inc., Medtronic plc, DePuy Synthes, CONMED Corporation, B.Braun Melsungen AG, and Arthrex, Inc. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Surgical Drills market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Surgical Drills market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Surgical Drills market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Surgical Drills market?
• Which is the largest regional market for Surgical Drills market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Surgical Drills market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Surgical Drills market worldwide?