United States High-Speed Surgical Drill Market is Projected to Reach USD 301.4 Mn by 2030 – Astute Analytica
Request Sample Report at: https://www.astuteanalytica.com/request-sample/united-states-high-speed-surgical-drill-market
Due to a few accidents, sports-related injuries, dental and orthopedic surgery, and other treatments, the number of surgical procedures is rising in affluent nations like the U.S. The U.S. National Highway Traffic Administration estimates that a car collision occurs every 60 seconds, or 5.25 million accidents annually, across the country. Even though a dental surgical drill does not enter the mandibular canal, heat injury from the drill might nonetheless harm nerves. In order to expose underlying neurovascular networks, remove the skull base bone, lessen the need for extensive brain retraction, and allow bone decompression and instrumentation in spine surgery, surgical drills are used in cranial and spinal wounds.
Market Influencing Factors
The United States high-speed surgical drill industry is growing owing to factors, including rising healthcare costs and improved access to healthcare services. In 2020, U.S. health spending climbed by 9.7% to US$ 4.1 trillion, or US$ 12,530 per person. The growth rate in 2019 was 4.1%; this rate is greater. Spending rises within Medicare and private health insurance fueled by the Affordable Care Act's (ACA) reinstatement and health insurance tax can be blamed for the increase in spending (which was previously suspended in 2017).
A significant health concern is an increase in accidents and injuries. They are causing more surgeries driving up the demand for improved surgical drills for simple, quick procedures. Over 38,000 Americans lose their lives on American roads each year, according to the Association for Safe International Road Travel. Additionally, 4.4 million individuals have significant wounds that necessitate medical care. Therefore, it is likely that an increase in accidents and injuries will fuel the market for high-speed surgical drills in the U.S.
Additionally, the expanding medical tourism sector is creating a potential prospect for market expansion. Medical tourism is also on the rise owing to the accessibility of cutting-edge medical technologies and rising international quality standards. For instance, the U.S. International Trade Commission estimates that in 2019, medical tourism brought in over $1.2 billion for the American healthcare system.
On the other side, the increased cost of surgical drills and growing postoperative difficulties may inhibit market growth.
Impact Insights of COVID-19
The COVID-19 outbreak and the ensuing lockdown had an impact on the U.S. market for high-speed surgical drills, which saw a significant decline of 12.34% in 2020. In addition, in North America, there was a significant interruption to the storage and transportation of imported goods. As a result, there was an extreme lack of medical supplies and equipment in the area. Additionally, in the U.S., there was a severe lack of beds and other healthcare services throughout the COVID-19 period. Additionally, the U.S. was severely affected by hurricanes and extreme weather in the month of February 2020. This had a detrimental effect on the supply and demand for raw materials and other finished items.
Due to mobility restrictions and a decline in transportation activity, the healthcare industry suffered the most, which led to a severe shortage of raw materials like silicon and other metals needed to produce High-Speed Surgical devices. However, a significant peak of 13% occurred in 2021 due to the increased demand for orthopedic and other surgeries. Consequently, it will expand the industry in the post-COVID-19 era.
Segmentation Analysis
In 2021, in terms of type, the electric High-Speed Surgical drill dominated the U.S. high-speed surgical drills industry, and the segment will project the highest rate of 4% over the analysis years. The electric high-speed surgical drill is ideal for a variety of surgeries, including spine, neurotology, and ENT procedures, thanks to its high torque and small size. High-speed pneumatic drills are more powerful and effective for surgical operations involving the spine, ENT, orthopedics, and other areas. However, electric high-speed surgical drills are popular due to their small size and higher speed than pneumatic drills.
In 2021, based on the product, the consumable sales segment held the leading position in the U.S. high-speed surgical drill industry, and the segment will reach a valuation of US$ 150 million by 2023. Consumable sales are rising because surgical and other medical consumables are widely available in the U.S. market.
In 2021, by application, the orthopedics segment held a significant share of 40% in the U.S. market, and the segment will exhibit the highest growth rate from 2022 to 2030. Using specialist equipment, bone drilling serves as a form of bone fracture treatment. The drill's shape, drill bit's composition, and bone structure all have an impact on the drilling procedure. In these operations, electric power drills are employed a lot. Power-assisted drills are faster than manual ones, according to recent studies. On the other hand, the dentistry segment will reach an opportunity of more than US$ 20 million from 2021 to 2030 due to the rising use of high-speed surgical drills for extracting decay and reshaping teeth in preparation for a filling.
Browse Detailed Summary of Research Report: https://www.astuteanalytica.com/industry-report/united-states-high-speed-surgical-drill-market
Prominent Competitors
The prominent competitors in the United States high-speed surgical drills market are:
De Soutter Medical USA, Inc
Johnson & Johnson
Aegon Group
Medtronic
Aesculap Inc
Stryker
Brasseler
Nouvag AG
Smith & Nephew
Conmed
Other Prominent Players
Segmentation Outline
The United States high-speed surgical drills market segmentation focuses on Type, Product, and Application.
By Type Segment
Pneumatic High-Speed Surgical Drill
Electric High-Speed Surgical Drill
By Product Segment
Capital
Consumable Sales
By Application Segment
Dentistry
Orthopedics
Neurology
Others
Looking For Customization: https://www.astuteanalytica.com/ask-for-customization/united-states-high-speed-surgical-drill-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
+1 888-429-6757
email us here
Visit us on social media:
Twitter
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
