Newark, New Castle, USA, Feb. 06, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global surgical power tools market is expected to clock US$ 4.1 billion by 2030 and grow at a CAGR of 3.65% during the forecast period. Owing to the rising geriatric population, increasing demand for minimally invasive surgical procedures, and continuous technological advancements, states Growth+ Reports.
Market Drivers
The rising geriatric population and an increase in the number of people suffering from conditions such as osteoarthritis are the major driving factors for the growth global surgical power tools market. The global surgical power tools market growth is also driven by the increasing demand for minimally invasive surgical procedures and technological advancements. Additionally, the increasing adoption of computer-assisted surgery (CAS) and robot-assisted surgery (RAS) is expected to provide significant growth opportunities for the global surgical power tools market. CAS and RAS provide high precision and accuracy, making them ideal for complex surgical procedures. Moreover, the increasing investments in research & development activities to develop new and advanced surgical tools are also fuelling the market growth. The growing number of surgeries being performed worldwide drives the demand for surgical power tools.
The global surgical power tools market has been analyzed from four perspectives: Product, Power Source, Application, and Region.
Request a Sample Copy of the Research Report: https://www.growthplusreports.com/inquiry/request-sample/surgical-power-tools-market/8148
Excerpts from ‘Competitive Landscape’
Some prominent players operating in the global surgical power tools market are:
- Medtronic plc
- Stryker Corporation
- Exactech Inc.
- OrthoPromed
- Medical Bees GmbH
- Nouvag AG
- 3M Company
- Adeor Medical AG
- De Soutter Medical
- Smith and Nephew plc
- B. Braun Melsungen AG
- CONMED Corporation
- Koninklijke Philips N.V.
- DePuy Synthes (Johnson & Johnson).
Excerpts from ‘By Product Segmentation’
Based on product, the global surgical power tools market is segmented into:
- Handpieces
- Disposables
- Accessories
Due to the handpiece's smart power optimization feature, smooth surgical delivery, and remarkable compatibility with a variety of attachments and disposables, it led the market with the highest revenue share in 2021. Drills, saws, and other tools that run on electricity or batteries are frequently used as handpieces. These tools are used in a variety of surgical operations, including orthopedic, neurosurgical, and general surgical procedures. An increase in the requirement for minimally invasive surgical procedures and technological advancements are also expected to drive further growth in the handpiece segment in the coming years.
Excerpts from ‘By Power Source Segmentation’
Based on the power source, the global surgical power tools market is further segmented into:
- Electric-Operated
- Battery-Driven
- Pneumatic Power Tools
The electric-operated power tools had the biggest market share in 2021, owing to a wide range of surgical applications due to their robust safety features, such as internal fuses, which help prevent accidental injuries. Surgeons are shifting toward electric instruments as they impart substantial flexibility in surgical procedures with speed-adjustment capabilities. Furthermore, these tools are easy-to-use and relatively cost-effective, attracting manufacturers and healthcare facilities to develop and adopt electric-operated power tools. These aspects result in the further growth of the electric-operated power tools segment.
Request for Customization – https://www.growthplusreports.com/inquiry/customization/surgical-power-tools-market/8148
Excerpts from ‘By Application Segmentation’
Based on application, the global surgical power tools market is further segmented into:
- Orthopedic Surgery
- Dental Surgery
- Ent Surgery
- Neurology Surgery
- Cardiothoracic Surgery
- Others
The orthopedic surgery segment had the largest revenue share in 2021, due to the rise in the number of sorts and road accidents and the high adoption of minimally invasive surgical procedures. For instance, according to the WHO’s June 2022 factsheet, 20 to 50 million people annually suffer from non-fatal injuries, with many incurring a disability because of their injury. 93% of the world's fatalities on the roads occur in low- and middle-income countries, even though these countries have approximately 60% of the world's vehicles. Furthermore, the development of new and advanced surgical techniques, like computer-assisted surgery, is expected to drive growth in this segment.
Excerpts from ‘By Region Segmentation
Geographically, the global surgical power tools market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America dominated the global surgical power tools market in 2021 due to an increase in different procedures, accidents that result in broken bones, and other neurological conditions. Additionally, the region's market expansion is fueled by the availability of qualified neurosurgeons, a strong healthcare system, and rising public awareness of minimally invasive procedures.
Moreover, companies from these regions are continuously involved in innovating new technologies and software that can improve patient outcomes and thus help the regional surgical power tools market. For instance, in November 2022, Exactech, a developer and manufacturer of revolutionary implants, instruments, and smart technologies for joint replacement surgery, announced a patent grant by the United States Patent and Trademark Office for their unique software Predict+. Predict+ is a data-driven clinical decision support tool that predicts individual patient outcomes after shoulder arthroplasty using machine learning. With Predict+, the surgeon enters as little as 19 data points about a patient. The software forecasts the patient's likely outcomes, such as pain, function, and range of motion, within seconds. Furthermore, it compares the prognostic outcomes of anatomic and reverse shoulder arthroplasty at various post-operative time points. This advice can assist the surgeon in better personalizing patient therapy by identifying characteristics that influence result projections, such as the patient decreasing weight, stopping smoking, and completing pre-habilitation.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL SURGICAL POWER TOOLS MARKET - ANALYSIS & FORECAST, BY PRODUCT
- Handpiece
- Disposables
- Accessories
- GLOBAL SURGICAL POWER TOOLS MARKET - ANALYSIS & FORECAST, BY TECHNOLOGY
- Electric-operated Power Tools
- Battery-driven Power Tools
- Pneumatic Power Tools
TOC Continued….
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
Schedule a call with our analyst: https://appoint.ly/s/salesZ3Jvd3RocGx1c3JlcG9ydHMuY29t/introduction
About Us:
Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).
Growth Plus portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.
We were awarded by the prestigious CEO Magazine as "Most Innovative Healthcare Market Research Company in 2020.
Manan Sethi Director, Market Insights Email: sales@growthplusreports.com 256 Chapman Road STE 105-4, Newark, New Castle - 19702, USA Phone no: +1 888 550 5009 Web: https://www.growthplusreports.com/
