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Surgical Drill Market to Expand at CAGR of ~5% Assessment for the Driving Factors, Size & Opportunities During 2023-2033

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Surgical drill market is expected to reach an estimated value of ~USD 2000 million by 2033, by expanding at a CAGR of ~5%.

NEW YORK, NEW YORK, UNITED STATES, January 23, 2023 /EINPresswire.com/ -- Global Surgical Drill Market Key Insights

During the forecast period of 2023-2033, the global surgical drill market is expected to reach an estimated value of ~USD 2000 million by 2033, by expanding at a CAGR of ~5%. The market further generated a revenue of ~USD 1000 million in the year 2022. Major key factors propelling the growth of the surgical drill market worldwide are the increasing prevalence of neurological diseases and the rising instances of accidents.

Market Definition of Surgical Drill

Surgical drills are tools that are used to remove cavities while straightening teeth in readiness for a filling and to bore holes in bones for attaching surgical pins, plates, or screws. Additionally, they serve as tools for a variety of applications, ranging from dentistry to neurological procedures. As they work by expanding the compressed air, they are frequently utilized in dental procedures. These drills are more popular than similar devices because they encourage improved patient compliance. Segment expansion will also be aided by the growing use of pneumatic high-speed drills in spinal trauma surgery.

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Global Surgical Drill Market: Growth Drivers

The growth of the global surgical drill market can majorly be attributed to the rising cases of accidents across the globe. Almost 2.3 million men and women worldwide perish from work-related accidents or diseases each year, which corresponds to over 6000 deaths every single day, according to figures from the International Labor Organization. Additionally, there are about 340 million occupational accidents worldwide and about 160 million people who suffer from work-related illnesses each year. Global demand for high-speed surgical drills is estimated to be driven by an increase in surgical operations. Due to an increase in accidents, sports-related injuries, dental and orthopedic surgeries, and other surgical procedures, both developed and developing economies are seeing an increase in surgical treatments today. These many operations are necessary because of the prevalence of orthopedic ailments, dental disorders, and other chronic conditions that call for surgery. About 310 million surgical procedures are carried each annually. Furthermore, 11% of disorders worldwide require surgery to be treated.

The global surgical drill market is also estimated to grow majorly on account of the following:

Increasing neurological ailments
Rising prevalence of accidents
Technology advancement in the field of surgery
Growing instances of chronic diseases
Higher number of people with dental problems
Global Surgical Drill Market: Restraining Factor

Most product manufacturers were compelled to close their production facilities due to supply chain disruption and variable raw material supplies, which had a negative impact on the development of the target industry. Hence this factor is expected to be the major hindrance for the growth of the global surgical drill market during the forecast period.

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Global Surgical Drill Market Segmentation

By Application (Dental, Orthopedic, ENT, Neurology, and Others)
The orthopedic segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2033. The growth of the market can be attributed to the increase in incidences of muscle and bone injury. In 2019, 178 million new fractures were reported worldwide. In addition, 33 million skeletal injuries—50% of which are tendon and ligament injuries—occur in the United States each year, according to the National Library of Medicine. Furthermore, the increasing adoption of high-speed surgical drills in orthopedic surgeries because of the increasing old age population and incidence of bone diseases are anticipated to drive segment growth.

By Type (Reusable, and Disposable)
By Product (Instruments {Pneumatic Drills, Electric Drills, and Battery Drills}, and Accessories)
By End User (Hospitals, and Specialty Clinics)
By Region

The North America surgical drill market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Growing instances of chronic conditions and brain-related difficulties are anticipated to fuel market expansion in the region. In 2022, there were estimated to be 750,000 initial brain tumor diagnoses in Americans. Additionally, brain injuries were a contributing factor in more than 64,000 fatalities in the US in 2020. In addition, every sixth adult in the United States is coping with a chronic illness.

The market research report on global surgical drill also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

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Key Market Players Featured in the Global Surgical Drill Market

Some of the key players of the global surgical drill market are Medtronic, AlloTech Co., Ltd., Zimmer Biomet, Stryker, DePuy Synthes, B. Braun SE, ConMed Corporation, MicroAire Surgical Instruments, LLC., Arthrex Inc., ClearPoint Neuro, Inc., and others.

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