North America Surgical Power Tools Market Expected to Reach USD 1,222.62 Million by 2028
The North American Surgical Power Tools market is expected to experience market growth during the forecast period 2021 to 2028. Data Bridge Market Research analyzes that the market is growing with a CAGR of 4.7% during the forecast period from 2021 to 2028 and is expected to reach USD 1,222.62 million by 2028 compared to USD 862.51 million in 2020. Technological advancements in multifunctional surgical power tools and the growing need for surgical power tools are the main engines which have propelled the market demand during the forecast period.
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The increase in neurological and orthopedic disorders are the main drivers that have propelled the demand for surgical power tools used to perform surgeries on bones or bone fragments, among other types. These power tools make reaming, sawing, drilling, screwing and other procedures easy. It includes a handpiece, disposables and accessories. Handpieces used for surgeries are generally of two types of electric handpieces and pneumatic handpieces; However, through rapid research and development, high torque electric handpieces have also been discovered. Major surgical procedures where these tools can be used include orthopedic surgery, ENT surgery, neurological surgery, dental surgery, and cardiothoracic surgery. The discovery of such power tools revolutionized surgical procedures by making the overall procedure efficient and flawless.
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Surgical Power Tools Market Scope and Market Size
The surgical power tools market is categorized into six notable segments based on product, technology, device type, application, end user, and distribution channel. Growth among segments helps you analyze growth niches and strategies to approach the market and determine your main areas of application and the difference in your target markets.
- On the basis of product, the surgical power tools market is segmented into handpieces, disposables, and accessories. In 2021, the handpieces segment is expected to dominate the market due to its automatic power optimization feature, smooth surgical delivery, and high compatibility rate with a wide range of accessories and disposables. Handpieces are used for a variety of surgical procedures ranging from drilling to reaming, which is driving the growth of the market.
- On the basis of technology, the surgical power tools market is segmented into power operated power tools, battery operated power tools, pneumatic power tools, etc. In 2021, the electrically driven power tools segment is expected to dominate the market as this instrument offers constant torque even with high resistance and higher load. Moreover, the enhanced safety measures associated with accidental injuries have been lowered with the introduction of electrically operated power tools, accelerating the growth of the market. Electric power tools do not produce any vibratory sensation, thus increasing their demand in the market.
- On the basis of device type, the surgical power tools market is segmented into wholesale bone power tools, small bone power tools, medium bone power tools, and others. In 2021, the large bone power tools segment is expected to dominate the market due to the increasing prevalence of osteoarthritis, osteoporosis, and hip fractures, among other significant bone injuries. In addition, the increasing number of knee replacements, among others, is providing the market with lucrative growth.
- On the basis of applications, the surgical power tools market is segmented into orthopedic surgery, ENT surgery, neurological surgery, dental surgery, cardiothoracic surgery, etc. In 2021, the orthopedic surgery segment is expected to dominate the market due to the increase in a number of road accidents and the high adoption of minimally invasive surgical procedures.
- On the basis of end user, the surgical power tools market is segmented into hospitals, outpatient surgical centers (ASCs), clinics, others. In 2021, the hospital segment is expected to dominate the market due to the increase in the number of surgeries and the demand for devices that can reduce the overall surgery time and cost pressure.
- On the basis of distribution channel, the surgical power tools market is segmented into direct tendering and third party distribution. In 2021, the direct tendering segment is expected to enter the market due to the purchase of low cost devices and the high reliance of hospitals among other end users on tenders. direct offers.
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Country Level Analysis of Surgical Power Tools Market
The North America Surgical Power Tools market is analyzed and market size information is provided on the basis of ten notable segments which are by product, technology, device type, application, end user, and distribution channel.
The countries covered in the Surgical Power Tools Market report are United States, Canada, and Mexico.
Competitive Landscape and Surgical Power Tools Market Share Analysis
The competitive landscape of the Surgical Power Tools market provides details by competitor. Details included are company presentation, company finances, revenue generated, market potential, research and development investments, new market initiatives, production sites and facilities, company strengths and weaknesses, product launches, product testing pipelines, product approvals, patents, product breadth and breathing, application dominance, technology lifeline curve. The above data points provided are related only to the direction of the company related to the Surgical Power Tools market.
The major companies providing surgical power tools are 3M, Medtronic, Stryker, Zimmer Biomet, DePuy Synthes (The orthopedic company of Johnson & Johnson Services, Inc.), CONMED Corporation, IMEDICOM, maxon, PUSM MEDICAL, Komet Medical, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.