Surgical Power Tools Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Surgical Power Tools Market Size

Surgical Power Tools Market Analysis

Based on Product Type, Handpieces Hold Major Share

Based on product type, handpieces hold the major share, attributed to their ease of usage, comfortability, precise results, and efficiency. They are extensively used in orthopedic procedures for fixing, drilling, and placing bone screws. These products are also used by dentists for cleaning and polishing teeth, removing plaque, and filling cavities. They have several benefits, which include automatic power optimization. Additionally, the launch of new products in this category is expected to propel the demand for them.

Battery-Powered Variant Demand Is Expected To Grow at Highest CAGR

The battery category is expected to grow at the highest CAGR, of 6.6%, as these variants can be transported anywhere. This is because no lead is attached to them, which also makes them convenient to use. Additionally, such instruments do not witness much bacterial contamination, and the low levels of contamination can be removed with the help of several methods, such as ethylene oxide gases, hydrogen peroxide, and gamma rays.

The demand for electrically powered devices is also growing at a significant rate, because they consist of internal fuses, which minimize the chance of power surges and, in turn, of electric shocks. Their maintenance cost is low, and the fact that power can be continuously supplied to them via an electrical socket boosts the demand for these instruments. The rapid adoption of these products across healthcare facilities as well as manufacturers because of their cost-effectiveness and speed can be adjusted flexibly.

Orthopedic Surgery Is Major Application

Orthopedic surgery is a major application of these devices because of the increasing prevalence of issues related to the bones. According to several government reports, around 1.71 billion people are suffering from musculoskeletal disorders across the world. These disorders are major reasons for disability; one of the most significant among them is lower back pain, which limits dexterity and mobility and affects the ability of the person to participate in society. Due to the growing population, especially of the geriatric demographic, the volume of orthopedic surgeries is increasing. With advancing age, issues related to the bones develop rapidly and sometimes require bone replacement and other surgeries.

The neurosurgery category is expected to witness the fastest growth in the coming years, ascribed to the extreme complexity of the nervous system, which requires equally technologically advanced tools to be operated upon. The major factors that decide the quality of outcomes of neurosurgeries are safety and precision.

Hospitals Are Largest End Users

Hospitals are the largest end users, as the majority of the accidental cases that require surgeries are reported to hospitals. Moreover, hospitals have skilled professionals, along with well-equipped facilities, due to which patients prefer them for treatment. The presence of a large number of hospitals in both developed and developing countries, such as the U.S., the U.K., China, and India, is a key factor behind the massive sale of powered surgical equipment to these facilities. Moreover, governments are augmenting their expenditure for the setup of hospitals, to make quality care easily accessible and affordable.

Furthermore, hospitals have direct tie-ups with manufacturers so they can get products at low prices and in bulk.

Growing Geriatric Population Boosts Product Demand

Over the years, there has been a significant rise in the number of geriatric patients worldwide. According to the World Health Organization, between 2015 and 2050, the population above 60 years will increase from 12% to 22% of the total. Additionally, it is expected that in 2050, 80% of the older people will be living in low- and middle-income countries. The aging population is affected the most by mobility impairment, due to its low body strength and high risk of various orthopedic diseases, such as osteoporosis. Hence, the surging incidence of chronic diseases in the older population leads to an increase in the number of people with disabilities, thus creating a high demand for surgical power tools.

Regional Analysis

North America Is Contributing Highest Revenue

North America has the leading position in the market, and it will also hold the same position in the coming years, accounting for a value of USD 0.2 billion in 2030. This is attributed to the developed healthcare system and high disposable income. Moreover, substantial funds are allocated for medical device research and development each year by various government and private organizations, to make surgeries more effective, faster, cost-effective, and safer.

In North America, the U.S. holds the leading position, and it will grow at a CAGR of 6.0% during the forecast period. This can be attributed to the high prevalence of bone diseases, including arthritis, and the presence of trained surgeons and surgical nurses. Moreover, the existence of favorable reimbursement policies drives the volume of surgeries and makes them affordable.

In addition, the market is driven by the increasing consciousness of the facial structure and the technological advancements in the field of aesthetics. Advanced technologies aid in augmenting surgical precision, thus reducing the risk of complications and enhancing the results. The existence of a number of recognized players and the rapid adoption of such tools by hospitals are essentially fueling this growth. Additionally, the government is taking several initiatives for increasing awareness of the benefits of using these instruments, such as the establishment of the American Society of Craniofacial Surgery (ASCFS).

Market Breakdown

This report offers deep insights into the surgical power tools market, with size estimation for 2019 to 2030, the major drivers, restraints, trends and opportunities, and competitor analysis.

Based on Product

• Hand Pieces
  • Drills
  • Saws
  • Reamers
  • Shavers
• Power Consoles and Controls

Based on Power Source

• Pneumatic
• Battery
• Electric

Based on Application

• Orthopedic Surgery
• Neurosurgery
• ENT Surgery
• Ophthalmic Surgery
• Cardiac Surgery

Based on End User

• Hospitals
• Ambulatory Surgical Centers

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.

Top Surgical Power Tools Companies

Surgical Power Tools Market News

Increasing Number of Product Launches

The rising number of product launches by several key players will contribute toward the industry growth:

• In March 2023, Stryker Corporation announced the launch of a novel power tool, CD NXT, which provides real-time, fast, accurate, consistent digital depth measurement as the surgeon drills, across various procedures.
• In December 2021, the UNIUM system was launched by DePuy Synthes. It is a powered tool system for small bone and trauma procedures. It can also be used for sports medicine, thoracic procedures, and spinal surgeries.
• In May 2021, Arbutus Medical launched SteriTrak, a kit that supports the efficiency and speed of trauma centers and ERs when performing skeletal traction. The system is now available in Canada and the U.S.