Surgical Drills Market Revenue, Opportunity, Forecast and Value Chain 2018
Posted: Jan 31, 2019
Global Surgical Drills Market is expected to grow significantly over the forecast period. The market held a market value of USD 463.64 million in 2017 and is projected to grow at a CAGR of 4.93% over the forecast period.
Surgical drills as the name itself suggests, are drill machines which are used during the various surgical procedures. Their main function is to drill, cut, and bore holes in the bone in order to attach surgical pins, plates, or screws. There are several types of surgical drills available which are powered by different source. These include pneumatic drills, electric drills, and battery powered drills among others. Surgical drills have simplified the tedious job of a surgeon and reduced the surgery time significantly. Surgical drills have become an important tool in the surgical procedures. Increasing number of orthopedic and dental surgeries, high awareness about the dental hygiene and high disposable income are some of the factors contribute to the growth of the surgical drills market.
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Adeor medical AG, AlloTech Co.Ltd. Arthrex Inc., B.Braun Melsungen AG, CONMED Corporation, De Soutter Medical, DePuy Synthes, Medtronic plc, Stryker Corporation and Zimmer Biomet Holdings, Inc. are some of the key players in the global surgical drills market.
The Global Surgical Drills Market has been segmented into product, application and end-user.Based on products, the market has been segmented into, pneumatic drills, electric drills, battery powered drills, accessories, and others. The pneumatic drills segment is expected to account for the largest share in the global surgical drills market in 2017. This large share is majorly attributed to the wider acceptance of the devices, and better patient compliance as compared to other products. Based on application, the market has been segmented into orthopedic surgery, neurosurgery, ENT, dental surgery, and other. The orthopedic surgery segment is expected to account for the largest share in the global surgical drills market in 2017 followed by dental surgery segment.Based on end-users, the market has been segmented into hospitals & clinics, ambulatory surgical centers, academic and research institutes, and others. The hospitals & clinics segment is expected to account for the largest share in the global surgical drills market in 2017. At the same time, the increasing establishments of the ambulatory surgical centers in the developed and developing countries has led this segment to grow at the fastest rate during the forecast period.
Based on the regions, the market for surgical drills is segmented in to, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The surgical drills market in the Americas region has further been segmented into North America and South America, where-in the North American market is further divided into the US and Canada.European surgical drills market has been segmented into Western Europe and Eastern Europe where-in Western Europe region is further divided into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The surgical drills market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The surgical drills market in the Middle East & Africa has been segmented into regions such as the Middle East and Africa.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the global surgical drills market owing to the rising number of the orthopaedic surgeries, increasing awareness about dental hygiene leading to increase in dental procedures and surgeries. The development of the better surgical approaches and advanced treatment procedures have affected the growth of the American market in a positive way. Moreover, high awareness among American population, state of the art medical infrastructure, high disposable income, are some of the many factors that drive the growth of the surgical drills market in this region.
Europe is expected to hold the second largest market share in the global surgical drills market. The market growth in this region is majorly attributed to the increasing government support for the device manufacturers. Geographical expansion of companies has led to the wider reach of the medical products and services which has brought a huge change in terms of the acceptance and implementation of the new products as well as procedures. Similarly, Asia-Pacific region has observed a rapid growth in the surgical drills market owing to the development in the medical sector in developing countries like India and China. Moreover, increase in government funding for healthcare, rising R&D expenditure, and growing number of medical device companies in the region has led to its fastest growth during the forecast period. The Middle East & Africa region is anticipated to show minor growth opportunities in the surgical drills market during the forecast period.
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