Dublin, April 26, 2023 (GLOBE NEWSWIRE) -- The "Global Surgical Power Tools Market Size, Share & Industry Trends Analysis Report by Technology, Application, End User, Product, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Surgical Power Tools Market size is expected to reach $2.8 billion by 2028, rising at a market growth of 4.6% CAGR during the forecast period.
Key Market Players
- Arthrex, Inc.
- B. Braun Melsungen AG (Aesculap, Inc.)
- ConMed Corporation
- Johnson & Johnson
- Medtronic PLC
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Nouvag AG
- American Precision Industries, Inc. (Altra Industrial Motion Corp.)
- GPC Medical Ltd.
Surgical power tools are portable instruments that can cut, remove, shape, or soft tissue and ablate bone and other materials in surgical procedures using electrical, pneumatic, or ultrasonic power. These technologies are intended to lessen patient trauma, recuperation time, and the time and effort typically needed to do a particular surgery. For instance, power tools for surgery include drills, saws, and chisels.
These instruments are used in arthroplasty, ENT, plastic surgery, neurosurgery, orthopedic, and neurosurgical treatments. Compared to manual cutting instruments, surgical power tools offer greater accuracy and control, enabling more accurate cuts and better results. Surgery can be completed more quickly and efficiently with surgical power tools than manual ones. This could help to cut down on treatment time, lower costs, and lower the possibility of problems.
In orthopedic procedures like knee and hip replacement surgery, surgical power tools are frequently utilized to cut & shape the bone or remove diseased cartilage. To secure the prosthetic joint, the surgeon will employ power tools to drill holes into bone and implant screws and plates. To guarantee a snug fit for the prosthetic, the tools can also be employed to trim away any extra bone or cartilage and to round the edges of the bone.
Hence, the market's expansion is related to increased knee & hip replacement surgeries. The rise in the incidence of chronic diseases, the rise in the number of surgical procedures, and the rise in the population of elderly people are the main factors driving the growth of the surgical power tool market.
Market Growth Factors
Surged cases of road accident injuries
According to the World Health Organization, the United Nations General Assembly has set the ambitious goal of halving road traffic-related deaths and injuries by 2030. Injury-related deaths on the road are the most significant cause of mortality for children & young adults aged 5 to 29. Every year, over 1,3 million people are killed in motor vehicle accidents.
More than fifty percent of all road traffic fatalities occur among vulnerable road users, including cyclists, pedestrians, and motorcyclists. Moreover, 93% of global road fatalities take place in low- and middle-income countries, even though these nations possess nearly 60% of the world's vehicles. These elements would support the growth of the regional market.
Growing proportion of old aged population
World Health Organization estimates that 1 in 6 individuals worldwide will be 60 or older by 2030. There will be 1.4 billion people, up from 1 billion in 2020, who are 60 or older. The number of old aged people across the globe will double by 2050. Between 2020 and 2050, there will be 426 million more people who are 80 or older than today. Two-thirds of people over 60 will reside in low- and middle-income nations by 2050.
Hearing loss, cataracts, refractive errors, osteoarthritis of the back and neck, chronic obstructive pulmonary disease (CO, diabetes, depression, and dementia are all common ailments in older people. This is expected to contribute to market expansion.
Market Restraining Factor
Dearth of trained professionals
The persistent underinvestment in education & training of healthcare personnel in some nations, as well as the mismatch within education & employment strategies in relation to the needs of health systems and populations, contribute to the persistence of shortages. Using advanced medical technology and equipment necessitates the employment of highly qualified personnel who can operate these technologies and devices effectively. While the global shortage of qualified workers is projected to continue in the coming years, the market will fall.
Scope of the Study
By Technology
- Electric Operated
- Battery Operated
- Pneumatic Operated
By Application
- Orthopedic Surgery
- Cardiothoracic Surgery
- Spine & Neuro Surgery
- Others
By End-user
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
By Product
- Surgical Drill
- Surgical Saw
- Accessories
- Power Source
- Reamer
For more information about this report visit https://www.researchandmarkets.com/r/gq64if
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