Market Size of Global Surgical Drills Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Surgical Drills Market Analysis
The surgical drills market is projected to register a CAGR of 5.6% during the forecast period.
The COVID-19 pandemic impacted the growth of the surgical drill market. For instance, an article published by the journal Updates in Surgery in May 2021 reported that the spread of the SARS-CoV2 virus profoundly impacted the surgical community. The article also stated that an online survey conducted in Italy reported that there was a reduction in elective and emergency surgical activity during the COVID-19 pandemic. Thus, the use of surgical drills got significantly reduced during the COVID-19 pandemic, thereby impacting the growth of the surgical drill market. However, in the current scenario, with the reduction in COVID-19 cases, elective and emergency surgical procedures have resumed. Therefore the demand for surgical drills may increase compared to the beginning of the pandemic. Thus, the surgical drills market is expected to witness significant growth over the forecast period.
The factors driving the growth of the surgical drills market are the increasing number of surgeries and technological advancements. For instance, in 2021, The Aesthetic Society Databank reported that surgical procedures increased by 54% in the United States in the year 2021. The source also reported that 461,098 liposuction procedures, 364,753 breast augmentation procedures, and 242,939 abdominoplasty surgical procedures were performed in the year 2020-2021 in the United States. Thus, such a high number of surgical procedures may increase the demand for surgical drills.
Similarly, an article published by the journal BMC Health Services Research in July 2022 reported that a cross-sectional study with retrospective data review was conducted in 172 health facilities from December 30, 2020, to June 10, 2021, that stated 69,717 major and minor surgeries were performed in Ethiopia during the mentioned period. Thus, with such a high number of surgical procedures performed, the demand for surgical drills is constantly growing, thereby contributing to the growth of the studied market.
Furthermore, technological advancements and new product launches are expected to drive the growth of the studied market. For instance, in June 2021, German-based Joimax reported the global launch of its new generation Shrill, the shaver drill system, the shaver drill system. The device is developed for the removal of soft tissue and bone. The Joimax shrill system is also effective in treating stenosis, a degenerative spine condition.
Thus, due to the increasing number of surgeries and technological advancements, the market is expected to witness significant growth over the forecast period. However, post-surgical complications associated with surgical drills are expected to restrain the growth of the surgical drills market.
