MARKET OVERVIEW
Surgical power tools are the medical instruments used for performing specific actions or carrying out desired effects during surgery. They provide ease in use and convenience to the operator and are activated by an additional power source. They offer various advantages such as optimal performance, better reliability, and a longer life cycle. They are utilized to fixate, shape, cut, and dissect bone and to emulsify, aspirate, and fragment soft tissue in several surgical procedures. They have a wide range of applications, including sports medicine, neurosurgery, and ENT operatives.
MARKET SCOPE
The "Global Surgical Power Tools Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the surgical power tools market with detailed market segmentation by product, technology, device type, application, end user, and geography. The report provides key statistics on the market status of the leading surgical power tools market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the global surgical power tools market is segmented into handpiece, disposables and accessories.
- Based on technology, the market is segmented into electric-operated power tools, battery-driven power tools and pneumatic power tools.
- On the basis of device type, the market is bifurcated into large bone power tools, medium bone power tools, small bone power tools and high speed drilling systems.
- On the basis of application, the market is bifurcated into orthopedic surgery, dental surgery, ENT surgery, neurology surgery, cardiothoracic surgery and others.
MARKET DYNAMICS
Drivers:
- The rising prevalence of orthopedic disorders and the increasing number of orthopedic surgeries drive the surgical power tools market growth.
- Rising cases of neurological disorders, along with the increasing number of the aging population and growing incidence of accidents, boosts the market growth.
- Growing technological advancements related to surgical power tools and an increase in R&D investments fuel the market growth.
- Increasing preference for surgical power tools due to their advantages fuel market growth.
Restraints:
- High cost of the surgical power tools.
- The dearth of skilled professionals.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The surgical power tools market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the surgical power tools market in these regions.
IMPACT OF COVID-19 ON SURGICAL POWER TOOLS MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The emergence of the COVID-19 pandemic created an unprecedented health concern worldwide. It has negatively impacted the surgical power tools market. As the surgical procedures were either delayed or canceled except for the emergency procedure, and that was also to be performed by following the guidelines. The outbreak has also disrupted the supply chain and put restrictions on trade and the movement of goods, thereby affecting the business. Furthermore, there was a decrease in the patient pool as people also avoided unnecessary hospital/ clinic visits. However, the market may experience growth in the forecast period due to the canceled surgeries during the pandemic period.
MARKET PLAYERS
The report covers key developments in the surgical power tools market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from surgical power tools market are anticipated to have lucrative growth opportunities in the future with the rising demand for surgical power tools in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the surgical power tools market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Aygun Surgical Instruments
- Medtronic plc
- Stryker Corporation
- Zimmer Biomet
- DePuy Synthes (Johnson & Johnson)
- Portescap
- Orthopromed
- Exactech
- DeSoutter Medical
- Shanghai Bojin Medical Instrument Co. Ltd.
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