Market Trends of Global Surgical Drills Industry
This section covers the major market trends shaping the Surgical Drills Market according to our research experts:
Pneumatic Drills is expected to Witness Significant Growth Over the Forecast Period.
A pneumatic drill is used by an orthopedic surgeon to make holes in bones for fixing immobilization screws, wires, plates, implants, fitting prosthetic devices, etc. The pneumatic surgical drills segment is expected to witness significant growth over the forecast period owing to its increasing use in orthopedic and dental surgeries.
The high number of dental surgical procedures is increasing the demand for pneumatic surgical drills, thereby driving the growth of this segment. For instance, in 2021 Saudi Arabia Ministry of Health reported that 531,237 restorative dentistry procedures, 226,780 endodontics surgical procedures, and 150,385 orthodontics surgical procedures were performed in Saudi Arabia in the year 2021. Thus, such a high number of dental surgical procedures is increasing the demand for pneumatic surgical drills, thereby driving the growth of this segment.
Additionally, increasing surgical procedures performed globally is further driving the growth of this segment. For instance, in July 2022, the OECD database reported that 38,343 surgeries were performed in Chile, followed by 49,308 surgeries in Denmark, 32,844 surgeries in Ireland, and 94,872 surgeries in Portugal were performed in the year 2021. Thus, such a high number of surgeries may increase the demand for pneumatic surgical drills. thereby driving the growth of this segment.
Thus, a high number of surgical procedures is increasing the demand for pneumatic drills, thereby driving the growth of this segment.
North America is expected to Witness Significant Growth Over the Forecast Period.
North America holds a significant market share in the global surgical drills market and is expected to withstand its position over the forecast period owing to the rising incidence of road accidents and the increasing need for orthopedic procedures. Also, product approvals and partnerships between key market players are driving the demand for surgical drills in the region.
The rising number of surgical procedures is expected to drive the growth of this market in the region. For instance, in 2021 Canadian Institute for Health Information (CIHI) reported that 51,660 hip replacement surgery, 51,599 knee replacement surgery, and 50,415 fracture surgeries were performed in Canada during 2020-2021. Thus, such a high number of surgical procedures is expected to increase the demand for surgical procedures, thereby driving the growth of the studied market in the region.
Additionally, the high number of road fatalities may lead to a high number of surgeries, which may increase the demand for surgical drills, thereby driving the growth of the studied market. For instance, International Transport Forum 2021 published Mexico's Road Safety Report, which stated 13,630 road fatalities were reported in Mexico during 2020-2021. Thus, such a high number of road fatalities may contribute to the growth of the studied market in the country.
Moreover, the presence of skilled surgeons in the region is also expected to drive the growth of the studied market in the region. For instance, an article published by NCBI in October 2021 reported that quality training for orthopedic surgeons is leading to increasing orthopedic surgical procedures in the United States, thereby contributing to the growth of the studied market in the region.
Furthermore, product approvals and partnerships between key market players are expected to drive the growth of the studied market. For instance, in January 2021, Medtronic's Midas Rex high-speed drills navigated the interbody and disc prep platform with the Mazor robotic guidance system and received USFDA clearance. Thus, such product approvals are expected to contribute to the growth of the studied market in the region.
Thus, due to a high number of orthopedic surgical procedures, high road fatalities, the presence of highly skilled orthopedic surgeons, and product approvals, the market is expected to witness significant growth in the region.
