Yahoo Finance Surgical Power Tools Market to hit USD 3.5 Billion by 2032, Says Global Market Insights Inc.
Surgical Power Tools industry is anticipated to register 5.7% CAGR between 2023 and 2032 due to growing cases of neurological disorders.
Selbyville, Delaware, Jan. 31, 2023 (GLOBE NEWSWIRE) --
The surgical power tools market value is set to cross USD 3.5 billion by 2032, according to a new research report by Global Market Insights Inc.
Increasing incidences of neurological diseases will have a significant impact on the surgical power tools industry outlook. Over the last decade, neurological disorders have emerged as one of the leading causes of disability and mortality contributing to a massive healthcare burden. The growing geriatric population is further increasing the susceptibility to neurological health conditions. Neurosurgery procedures rely on advanced surgical power tools to address the abnormal functioning of nerves, blood vessels, and brain tissues.
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High preference for single-use medical devices to boost demand for disposable surgical power tools
Surgical power tools market share from disposables is projected to exhibit a 6% CAGR by 2032. Increasing expansion for disposable surgical power tools can be attributed to the ongoing innovation and development spearheaded by industry players to develop novel and affordable products. Moreover, a rise in supportive government initiatives and rising awareness regarding infections as well as appropriate usage of disposable surgical devices will augment the segment growth.
Browse key industry insights spread across 260 pages with 431 market data tables & 16 figures & charts from the report, “Surgical Power Tools Market Size By Product (Handpiece, Disposables {Drills/Perforators, Saws, Staplers, Reamers, Blades, Burrs, Shavers}, Accessories), By Technology (Electric-operated Power Tools, Battery-driven Power Tools, Pneumatic Power Tools), By Device Type (Large Bone Power Tools, Medium Bone Power Tools, Small Bone Power Tools, High Speed Drilling Systems), By Application (Orthopedic Surgery {Spine, Trauma, Joint, Craniomaxillofacial}, Dental Surgery, ENT Surgery, Neurology Surgery, Cardiothoracic Surgery), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/surgical-power-tools-market
Hefty investments in trauma care hubs to boost adoption of large bone power tools
Surgical power tools market revenue from large bone power tools is estimated to reach over USD 1 billion by 2032. Rapid adoption of these types of power tools can be credited to the increasing number of large bone procedures performed, including hip replacement, drilling, knee replacement reaming, driving screws, and intramedullary nailing. Additionally, healthcare professionals are increasingly using large bone power tools for performing trauma surgeries. Due to the growing focus on the reduction of mortality associated with road accidents and rising investments in trauma care hubs worldwide, the adoption of large bone power tools is anticipated to escalate.
Advances in endodontics procedures to favor dental applications of surgical power tools
Dental surgery application segment in surgical power tools market to expand at 6.2% CAGR from 2023-2032. Rising prevalence of dental disorders and the rapid influx of investments in 3D printing technology to manufacture dental surgical instruments will complement the industry outlook. Moreover, recent breakthroughs in instrumentation, rotary endodontics, obturation, and surgical techniques are advancing endodontic treatment to offer improved patient experience.
Rising prevalence of orthopedic disorders to augment North America surgical power tools industry
North America region has a massive footprint of leading manufacturers along with the growing need for surgical procedures. In recent years, countries such as the U.S. and Canada have reported a dramatic rise in the prevalence of orthopedic disorders, accelerating the demand for advanced surgical instruments among surgeons. Furthermore, rapid adoption of minimally invasive surgeries due to growing patient preference for non-invasive procedures is necessitating novel product launches.
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Mergers & acquisitions to boost surgical power tools industry development
Stryker Corporation, Orthopromed, iMEDICOM, Nouvag AG, MatOrtho, Exactech, Medtronic, B. DeSoutter Medical, Adeor Medical AG, AlloTech Co. LTD, Smith and Nephew PLC are some of the leading companies in the global surgical power tools industry. These participants are foraying into strategic deals including mergers and acquisitions.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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