Surgical Power Tool Market by Product (Surgical Drill and Electric Pen Drive), End Use, (Hospitals, Ambulatory Surgical Centers, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

Surgical Power Tools Overview

Surgical power tools are made to help surgeons carry out operations with accuracy and efficiency, such as cutting, drilling, sawing, and sculpting bones or tissues. The force and speed needed for surgical procedures are provided by the tools, which are propelled by electricity or compressed air. Surgical power tools have revolutionised surgical techniques and improved patient outcomes in contemporary medicine, becoming crucial components in operating rooms. These instruments are frequently employed in orthopaedic, neurological, cardiovascular, and other surgical specialities where accuracy and precision are essential.

Technology improvements, rising demand for less invasive procedures, an ageing population that requires more surgical interventions, and an increase in chronic diseases that require surgical treatments are factors driving the market for surgical power tools. Companies in this market make ongoing R&D investments to improve the functionality of their instruments and make sure they adhere to the strict criteria and guidelines established by healthcare authorities. As healthcare infrastructure in emerging nations improves and more doctors use these cutting-edge technologies to provide better patient care, the demand for surgical power tools is predicted to keep rising. However, difficulties including the high costs of these equipment, worries about sterility, and the requirement for specialised training for safe operation are some elements that the industry addresses to maintain its growth and ensure patient safety.

Global Surgical Power Tools Market Analysis

The global surgical power tools market size was $331.7 million in 2022 and is predicted to grow with a CAGR of 6.3%, by generating a revenue of $610.3 million by 2032.

COVID-19 Impact on Global Surgical Power Tools Market

The market for surgical power tools has been significantly impacted by the COVID-19 outbreak. Healthcare systems were under tremendous pressure to treat COVID-19 patients as the pandemic spread across the globe, which shifted resources and priorities away from surgeries and other non-essential medical treatments. To make room for additional patients, staff, and medical equipment needed to treat the spike in COVID-19 cases, several hospitals and healthcare facilities postponed or cancelled elective surgery. The demand for surgical power tools was directly impacted by the sudden drop in surgical procedures, which led to a reduction in the market. Furthermore, lockdowns, travel restrictions, and factory shutdowns in various countries generated supply chain disruptions that made the issue worse. Due to difficulties obtaining raw materials, production hold-ups, and distribution problems, manufacturers of surgical power tools led to shortages and increased prices for these devices.

Improved Surgical Outcomes and Short Procedure Times to Drive Market Growth

The improvements in surgical technology have offered more precise and effective power tools, improving surgical outcomes and shortening procedure times. The simplicity and accuracy with which surgeons can now carry out intricate surgeries have led to a rise in the use of these innovative technologies. Second, there has been a significant increase in the number of surgical procedures performed globally as a result of the rising frequency of chronic diseases and age-related ailments. Power tools must now be used to increase surgical efficiency and patient outcomes due to the growing caseload. Furthermore, the market has been significantly influenced by the growing geriatric population. Surgical power tools are essential in meeting the healthcare demands of elderly people since they are more susceptible to a variety of disease disorders needing surgical procedures. Additionally, the need for surgical power instruments has increased due to the growing popularity of minimally invasive surgeries (MIS).

Strict Regulatory Procedures to Impede Market Growth

The market for surgical power tools is restricted by a number of issues that alter its dynamics, the first is that strict regulatory approval procedures and standards established by health authorities erect obstacles in the way of new product innovations and market entrants, lengthening the time required to enter the market and raising development expenses. Second, the limited market entry of smaller businesses reinforces the hegemony of established players due to the large initial investment needed for research and development as well as manufacturing facilities. Thirdly, worries about patient safety and the possibility of adverse events related to surgical power tools, such as overheating, mechanical failures, and improper usage, highlight the need for thorough training and strict adherence to usage guidelines, which can impede widespread adoption. The market's dependence on hospital spending and healthcare reimbursement programmes also inhibits expansion because budget cuts or economic downturns may result in lower spending on capital goods. Additionally, the delayed uptake of cutting-edge technologies in some areas and resource-constrained healthcare facilities may impede market progress. Finally, a barrier to the quick adoption of surgical power tools into various procedures is the continued preference for traditional surgical techniques in some medical practises and the requirement for competent employees to operate these equipment successfully. Overall, despite the market potential for surgical power tools, sustainable and broad-based market growth depends on addressing these market restraints.

Advancements in Technology to Drive Excellent Opportunities

Technology has made incredible strides in the surgical power tool market in recent years, revolutionising the surgical industry. These cutting-edge instruments have significantly increased surgical accuracy, effectiveness, and patient outcomes. One significant advancement is the incorporation of robotic-assisted technology, which enables surgeons to carry out intricate operations with improved dexterity and control. With the help of these robotic systems, surgeons can perform operations with unmatched accuracy thanks to real-time feedback, image-guided navigation, and haptic feedback. Additionally, there have been substantial advancements in design and ergonomics, which make the tools easier to use and lessen surgeon fatigue during protracted procedures. Power tool downsizing has made it possible to do less intrusive treatments, which has decreased tissue damage, sped up recovery times, and improved patient cosmesis. Additionally, the incorporation of connection and smart capabilities in surgical power tools has made real-time data collection and analysis possible. This data-driven strategy supports training and education, promotes evidence-based decision-making, and improves surgical performance as a whole.

Global Surgical Power Tools Market Share, by Product, 2022

The surgical drills sub-segment accounted for the highest market share in 2022. The surgical drills market category is essential to the growth and technological development of the surgical power tools market. Orthopaedic, neurosurgery, dentistry, and ENT surgeries are just a few of the operations that surgeons use surgical drills for. The precision and controlled drilling motions provided by these drills ensure proper bone preparation and implant placement. The rising incidence of orthopaedic and neurological problems among the ageing population is one of the main causes fueling the need for surgical drills. A greater demand for effective and dependable surgical power instruments, especially drills, is brought on by an increase in the frequency of spinal operations, joint replacements, and other associated treatments as the older population expands. Additionally, surgical drill technology developments have accelerated their use in the medical industry. To bring cutting-edge features like battery-powered drills, customizable speed settings, and ergonomic designs that improve user-friendliness for surgeons and lower the risk of problems during surgery, manufacturers are consistently investing in research and development. The demand for surgical drills has also been influenced by the move towards minimally invasive procedures. The demand for specialised power equipment, such as small and light drills, has grown as more treatments are carried out through smaller incisions. With the use of these instruments, surgeons can more precisely and easily perform complex procedures at the surgical site.

Global Surgical Power Tools Market Share, by End Use, 2022

The hospitals sub-segment accounted for the highest market share in 2022. Hospitals are increasingly in need of effective and precise power instruments as complex surgical procedures grow more common. For many surgical operations, including orthopaedic, neurosurgical, and dentistry procedures, power equipment including drills, saws, reamers, and other cutting devices is necessary. The majority of surgical power tool users are hospitals, which rely on this equipment to carry out a variety of surgical procedures with the finest precision and shorter turnaround times. The demand for these technologies in hospitals has been further increased by the rising number of surgeries and the rise of chronic diseases. Furthermore, improved safety and better patient outcomes have been a result of technological developments in surgical power instruments. Hospitals spend a lot of money buying modern power equipment with functions like speed control, comfortable designs, and minimally intrusive capabilities. This not only makes surgical procedures more efficient but also enhances the general patient experience. Moreover, due to the growing emphasis on minimally invasive procedures, surgical power instruments have grown even more crucial. These tools are preferred by hospitals because they allow for fewer incisions, less scarring, and quicker patient recovery. Additionally, as hospitals continue to implement cutting-edge medical technologies, a steady increase in demand for sophisticated surgical power instruments is anticipated. Manufacturers and healthcare organisations are working closely together to create specialised solutions that cater to the unique requirements and preferences of various hospitals.

Global Surgical Power Tools Market Share, by Region, 2022

The North America surgical power tools market generated the highest revenue in 2022. here are several reasons for the region's prominence. First off, the healthcare infrastructure in North America is very sophisticated, with well-established medical institutions and widespread use of cutting-edge technologies. This enables a rise in the demand and application of surgical power instruments in a range of medical operations. Second, the region is home to numerous prominent businesses that produce medical devices and enterprises that specialise in surgical power equipment. These businesses make large R&D investments, resulting in the development of creative and effective instruments that meet the changing demands of surgeons and other medical professionals. Additionally, chronic illnesses and age-related issues like orthopaedic problems and cardiovascular diseases are very common in North America. As a result, surgical interventions are frequently required, which fuels the demand for surgical power instruments. The region's increased healthcare spending, favourable government regulations, and reimbursement systems also play a role in the region's broad adoption of cutting-edge medical innovations such as surgical power instruments.

Competitive Scenario in the Global Surgical Power Tools Market

Investment and agreement are common strategies followed by major market players. One of the leading market players in the industry is Stryker. A leading producer of medical equipment, Stryker introduced the CD NXT System, a cutting-edge breakthrough in their power tools, in March 2023. Some of the leading surgical power tools market players are 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.