Surgical drills are tools used in various surgical procedures for cutting holes into bones for anchoring implants and delivering tendons. They come equipped with cutting attachments for drilling and shaping tissues and bones with precision. The growing prevalence of musculoskeletal disorders and the increasing number of orthopedic and neurological surgeries are propelling the demand for surgical drills.
The global Surgical Drills Market is estimated to be valued at US$ 696.62 billion in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased adoption of technologically advanced surgical tools is one of the key trends driving the growth of the surgical drills market. Manufacturers are increasingly focusing on developing innovative surgical drills equipped with advanced features such as LED lights, automatic reverse, and automatic stop mechanisms to prevent over-drilling. For instance, in September 2020, French multinational firm Echoppea launched an AI-guided robotic arm “Solavio” designed for precision drilling in orthopedic surgery. Solavio utilizes augmented reality, tactile sensor technologies and advanced motion control algorithms to enable accurate, minimally invasive drilling without touching bone. Such technologically advanced surgical drills are gaining immense popularity among medical practitioners due to benefits such as reduced procedural time and improved accuracy, thereby fueling the market growth.
Segment Analysis
The surgical drills market size is dominated by electric-powered drills sub segment. Electric drills provide higher precision, control and operational ease over pneumatic or battery-powered ones. Advantages like cordless operation, wide rpm range and torque delivery have increased preference for electric-powered surgical drills among medical professionals.
Key Takeaways
The global Surgical Drills market is expected to witness high growth. The global Surgical Drills Market is estimated to be valued at US$ 696.62 billion in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
The North America region currently dominates the market owing to presence of major players and better healthcare infrastructure. Higher number of surgeries and rapid technological advancements are fueling market growth in the region. The Asia Pacific region is expected to grow at a fastest pace during the forecast period. Rising medical tourism coupled with growing healthcare spending in China and India is driving the market in the region.
Key players operating in the Surgical Drills market are Ecoppia, Solavio. Ecoppia is a leader in surgical drill manufacturing with wide international presence. Solavio focuses on developing cordless surgical drills with advanced ergonomic designs.
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