Surgical Power Tools Market Size, Share & Trends Analysis Report By Product (Surgical Drill, Electric Pen Drive), By End-use, (Hospitals, Ambulatory Surgical Centers, Others) By Region, And Segment Forecasts, 2023 - 2030

Surgical Power Tools Market Size, Share & Trends Analysis Report By Product (Surgical Drill, Electric Pen Drive), By End-use, (Hospitals, Ambulatory Surgical Centers, Others) By Region, And Segment Forecasts, 2023 - 2030

Surgical Power Tools Market Growth & Trends

The global surgical power tools market size is expected to reach USD 514.7 million by 2030, to expand at a CAGR of 6.1% from 2023 to 2030 based on a new report by Grand View Research, Inc. Technological advancements in surgical devices, and an increasing number of facial and head injuries, followed by the rise in global geriatric population are some of the major factors driving the growth of market. However, the adoption of patient-specific devices can be limited due to a lack of suitable reimbursement, as healthcare providers may be unsure about adopting these devices due to cost-related concerns.

The surgical power tools are used in a variety of surgical procedures, including the treatment of facial fractures, cranial defects, and tumors, which include procedures such as reconstructive surgery, orthognathic surgery, & trauma surgery. During the pandemic, many elective surgeries were postponed or canceled, resulting in a decline in the demand. For instance, in 2021, around 10 million people in the U.K. were waiting for surgical treatments, which was an increase from 4 million prior to the pandemic. Similarly, over 28 million surgical procedures were canceled or postponed during the pandemic, creating a backlog that took a year to clear, and this figure could have been worse if the global lockdown was extended.

Surgical Power Tools Market Report Highlights

• Based on product, the surgical drillssegment accounted for the largest market share of 85.6% in 2022. The electric pen drive segment is expected to witness the fastest CAGR of 6.4% from 2023 - 2030.
• Based on end-use, the hospitals segment accounted for the largest market share of 57.2% in 2022. The others segment is expected to witness the fastest CAGR of 6.5% over the forecast period.
• North America accounted for the largest revenue share of nearly 39.5% in 2022 owing to the technologically developed health infrastructure & presence of key companies in the region. Asia Pacific is expected to witness the fastest growth rate of 6.5% over the forecast period.

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