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Surgical Power Tools Market Forecast Report 2026: Revenue and Outlook by Industry Players

Author : Ronak Bora | Published Date : 2020-09-02 

Surgical Power Tools Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The steadily increasing global geriatric population and the subsequent rise in orthopaedic disorders is anticipated to drive surgical power tools market share over the coming years. In addition, the increasing adoption of minimally invasive surgical techniques owing to reducing out-of-pocket expenditures should further complement the product demand.

In addition, growing cases of bone-related disorders, that lead to fractures, among the global population is likely to further drive the product demand from the rising surgical procedures. In fact, as per National Center for Biotechnology Information reports, annually about 1.5 million people suffer from fractures owing to a bone disease. Likewise, the risk of fracture is also more in the geriatric population, which, owing to the steady growth it is witnessing, would greatly compliment the market size.

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According to a research report by GMI Inc., the surgical power tools market is likely to surpass a valuation of $2.9 billion by 2026.

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.

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 

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

Partial Chapter of the Table of Content 

Chapter 4.    Surgical Power Tools Market, By Product

4.1. Key segment trends

4.2. Handpiece

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

4.3. Disposables

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

4.3.2.    Drills (Perforators)    Market size, by region, 2015 – 2026 (USD Million)

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

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

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

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

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

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

4.4. Accessories

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

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)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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