The global surgical power tools market size was valued at $2,275.2 million in 2021, and is projected to reach $3,783.7 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031.Surgical power tools are medical instruments used to shape, cut, drill, and fixate bone and soft tissues during surgical procedures. These tools are powered by battery, compressed air, or electricity and are used in various surgical procedures such as orthopedic procedures, neurosurgery, Ear, Nose, and Throat (ENT) surgery, plastic surgery, and arthroplasty procedures. Some of the common types of surgical power tools include drills, saws, reamers, burrs, shavers, and dermatomes. These tools are minimally invasive and designed to be precise and efficient. These help reduce the time required for a surgical procedure and help minimize the risk of injury to the patient and reconstructive surgeries.
The surgical power tools market growth is driven by increase in number of surgical procedures such as orthopedic surgeries and rise in number of key players offering advanced surgical power tools. For instance, according to a report by Australian Orthopedic Association National Joint Replacement Registry (AOANJRR), about 1,853,452 joint replacement procedures were reported in 2021 with majority of them being hip and knee replacement surgeries. In addition, various market key players offer advanced surgical power tools for knee replacement surgeries such as Battery Power Line II (Johnson and Johnson) and Precision Falcon (Stryker Corporation). Thus, rise in surgical procedures and availability of advanced surgical power tools boost the growth of the market.
Furthermore, increase in geriatric population boost the market growth. In geriatric population, there is a higher incidence of chronic diseases such as orthopedic disorders and neurological disorders that require surgical intervention which propels the demand for surgical power tools. For instance, according to an article published by American Geriatric Society (AGS) in 2021, about 60 million population in the U.S. aged 65 years or above and 80% of these population suffer from musculoskeletal conditions. In addition, according to report of Cancer. Net, the official website of the American Society of Clinical Oncology (ASCO), estimated that around 308,102 people were diagnosed with a primary brain or spinal cord tumor in 2020, across the globe. Thus, rise in the prevalence of geriatric population has resulted in increased demand for surgical power tools, which, in turn, contribute to the market growth. Moreover, increase in healthcare expenditure and rise in adoption of surgical power tools in hospitals and surgical centers further boost the market growth. However, factors that hinder the market growth include high cost of surgical power tools, and regular maintenance cost of surgical power tools.
On the other hand, increase in R&D activities for development of novel surgical power tools, advancement in power tools such as robotics and navigation support and increased demand for medical devices in the developed countries such as U.S., Canada and growth potential in emerging markets are expected to create immense opportunities for surgical power tools during the forecast period.
The surgical power tools market is segmented on the basis of product, technology, application, end user and region. On the basis of product, the market is classified into surgical drill, surgical saw, reamer, power source and accessories. On the basis of technology, the market is divided into electric operated, battery operated and pneumatic operated. By application the market is categorized into orthopedic surgery, cardiothoracic surgery, spine and neurosurgery and others. The others segment includes traumatology surgery, oral/maxillofacial, ENT surgery, plastic surgery. On the basis of end user, the market is fragmented into hospitals, clinics, ambulatory surgical centers, and others. The others segment includes trauma center, orthopedic center, and R&D centers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (India, China, Australia, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global surgical power tools market include Arthrex, Inc., B Braun Melsungen AG, CONMED Corporation, GPC Medical Ltd., Johnson & Johnson, Medtronic plc, Portescap Inc., Sharma Orthopedic, Stryker Corporation, and Zimmer Biomet Holding Inc.
The surgical power tools market growth is driven by increase in number of surgical procedures such as orthopedic surgeries and rise in number of key players offering advanced surgical power tools. For instance, according to a report by Australian Orthopedic Association National Joint Replacement Registry (AOANJRR), about 1,853,452 joint replacement procedures were reported in 2021 with majority of them being hip and knee replacement surgeries. In addition, various market key players offer advanced surgical power tools for knee replacement surgeries such as Battery Power Line II (Johnson and Johnson) and Precision Falcon (Stryker Corporation). Thus, rise in surgical procedures and availability of advanced surgical power tools boost the growth of the market.
Furthermore, increase in geriatric population boost the market growth. In geriatric population, there is a higher incidence of chronic diseases such as orthopedic disorders and neurological disorders that require surgical intervention which propels the demand for surgical power tools. For instance, according to an article published by American Geriatric Society (AGS) in 2021, about 60 million population in the U.S. aged 65 years or above and 80% of these population suffer from musculoskeletal conditions. In addition, according to report of Cancer. Net, the official website of the American Society of Clinical Oncology (ASCO), estimated that around 308,102 people were diagnosed with a primary brain or spinal cord tumor in 2020, across the globe. Thus, rise in the prevalence of geriatric population has resulted in increased demand for surgical power tools, which, in turn, contribute to the market growth. Moreover, increase in healthcare expenditure and rise in adoption of surgical power tools in hospitals and surgical centers further boost the market growth. However, factors that hinder the market growth include high cost of surgical power tools, and regular maintenance cost of surgical power tools.
On the other hand, increase in R&D activities for development of novel surgical power tools, advancement in power tools such as robotics and navigation support and increased demand for medical devices in the developed countries such as U.S., Canada and growth potential in emerging markets are expected to create immense opportunities for surgical power tools during the forecast period.
The surgical power tools market is segmented on the basis of product, technology, application, end user and region. On the basis of product, the market is classified into surgical drill, surgical saw, reamer, power source and accessories. On the basis of technology, the market is divided into electric operated, battery operated and pneumatic operated. By application the market is categorized into orthopedic surgery, cardiothoracic surgery, spine and neurosurgery and others. The others segment includes traumatology surgery, oral/maxillofacial, ENT surgery, plastic surgery. On the basis of end user, the market is fragmented into hospitals, clinics, ambulatory surgical centers, and others. The others segment includes trauma center, orthopedic center, and R&D centers. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (India, China, Australia, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Major key players that operate in the global surgical power tools market include Arthrex, Inc., B Braun Melsungen AG, CONMED Corporation, GPC Medical Ltd., Johnson & Johnson, Medtronic plc, Portescap Inc., Sharma Orthopedic, Stryker Corporation, and Zimmer Biomet Holding Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the surgical power tools market analysis from 2021 to 2031 to identify the prevailing surgical power tools market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the surgical power tools market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global surgical power tools market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- Electric operated
- Battery operated
- Pneumatic operated
By Product
- Surgical drill
- Surgical saw
- Reamer
- Power source
- Accessories
By Application
- Orthopedic Surgery
- Cardiothoracic Surgery
- Spine and Neuro Surgery
- Others
By End User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Johnson & Johnson
- CONMED Corporation
- Sharma Orthopedic
- B. Braun SE
- GPC Medical Ltd.
- Stryker Corporation
- Medtronic plc
- Zimmer Biomet Holding Inc.
- Arthrex, Inc.
- Altra Industrial Motion Corp.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SURGICAL POWER TOOLS MARKET, BY PRODUCT
CHAPTER 5: SURGICAL POWER TOOLS MARKET, BY TECHNOLOGY
CHAPTER 6: SURGICAL POWER TOOLS MARKET, BY APPLICATION
CHAPTER 7: SURGICAL POWER TOOLS MARKET, BY END USER
CHAPTER 8: SURGICAL POWER TOOLS MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Surgical Power Tools Market," the global surgical power tools market size was valued at $2,275.2 million in 2021, and is projected to reach $3,783.7 million by 2031, growing at a CAGR of 5.2% from 2022 to 2031. A surgical power tool is a device used in medical and surgical procedures to cut, ablate, or coagulate tissue. Common types of surgical power tools include orthopedic surgery, spine and neuro surgery, cardiothoracic surgery and others. The surgical power tools consist of surgical drill, surgical saw, reamer, power source and accessories.Key factors driving the growth of the surgical power tools market include increase in the number of surgical procedure, rise in the prevalence of chronic disease that require surgical procedure, and advancement in R & D activities in medical device industry. Increase in number different surgeries such as orthopedic surgery, cardiothoracic surgery, neuro and spine surgery and others is anticipated to drive the growth surgical power tool market. Surgical power tools are used in various orthopedic, neurological, plastic, and reconstructive surgeries to perform intricate and delicate tasks. They are used to cut, shape, and remove bone, cartilage, and soft tissues. Surgical power tools are often used in orthopedic surgeries such as knee replacement and hip replacement surgery to cut and shape the bone and remove damaged cartilage. The surgeon uses power tools to drill holes into the bone and insert screws and plates to secure the prosthetic joint in place. The tools may also be used to remove any excess bone or cartilage, and to smooth out the edges of the bone to ensure a secure fit for the prosthetic. Thus, rise in number of knee replacement and hip replacement surgeries is attributed to drive the growth of the market. According to Personalized Orthopedics of Palm Beaches, in November 2021, knee replacement surgery was reported to be a popular procedure that it is estimated to be performed about 800,000 times annually in the U.S.
The market also offers growth opportunities to the key players in the market. Increase in number of key players to manufacture surgical power tools systems provide lucrative opportunities for growth and expansion of the market. Some of the major key players offering surgical power tools for wide range of application are smartpower drill (Orthopaedic Innovation Limited), phasor drill (Biotex Inc.) and drill handpiece (ScienceMedic Co.,Ltd). Some of the reusable surgical drills are reusable orthopedic drill bits (Millennium Surgical Corp), and surgical drill bits (ChM sp. z o.o), and S2 Mini drill system (Stryker). Moreover, in November 2021, DePuy Synthes a subsidiary of Johnson and Johnson launched the UNIUM System as the newest Power Tool. This system is highly reliable and efficient in the trauma setting and can be used across small bone, sports medicine, spine and thorax procedures. The launch of UNIUM System will help the company to strengthen its surgical power tools portfolio.
The Surgical power tools Market is segmented into product, technology, application, end user and region. On the basis of product, the market is categorized into surgical drill, surgical saw, reamer, power source and accessories. On the basis of technology, the market is divided into electric operated, battery operated and pneumatic operated. By application the market is categorized into orthopedic surgery, cardiothoracic surgery, spine and neurosurgery and others. The others segment includes traumatology surgery, oral/maxillofacial, ENT surgery, plastic surgery. On the basis of end user, the market is fragmented into hospitals, clinics, ambulatory surgical centers, and others. The others segment includes trauma center, orthopedic center, and R&D centers. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players profiled in the study include Arthrex, Inc., B Braun Melsungen AG, CONMED Corporation, GPC Medical Ltd., Johnson & Johnson, Medtronic plc, Portescap Inc., Sharma Orthopedic, Stryker Corporation, and Zimmer Biomet Holding Inc. The players in the market have been actively engaged in the adoption various strategies such as acquisition, and product launch to remain competitive and gain advantage over the competitors in the market. For instance, in August 2021, Arbutus Medical expanded its product range of orthopedic drills and surgical power tools to help hospital and trauma centers perform skeletal traction in sterile and effective way.
Key Market Insights
- By product, the surgical drill segment was the highest revenue contributor and is estimated to be the fastest-growing segment with a CAGR of 5.7% during the forecast period.
- By technology, the electric operated segment was the highest revenue contributor and is estimated to be the fastest-growing segment with a CAGR of 5.5% during the forecast period.
- By application, the orthopedic surgery segment dominated the global market. However, it is also expected to be the fastest-growing segment with a CAGR of 5.9% during the forecast period.
- Based on end user, the hospitals segment was the highest revenue contributor to the market with a CAGR of 5.7% during the forecast period.
- Based on region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 6.4% during the forecast period
Companies Mentioned
- Johnson & Johnson
- CONMED Corporation
- Sharma Orthopedic
- B. Braun SE
- GPC Medical Ltd.
- Stryker Corporation
- Medtronic plc
- Zimmer Biomet Holding Inc.
- Arthrex, Inc.
- Altra Industrial Motion Corp.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 280 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 2275.2 million |
| Forecasted Market Value ( USD | $ 3783.7 million |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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