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The global surgical drill market size was USD 1.12 billion in 2020 and is projected to grow from USD 1.17 billion in 2021 to USD 1.78 billion in 2028, at a CAGR of 6.2% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with surgical drills witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of -10.0% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Surgical powered instruments play a unique role in the operating suite. A surgical drill is a powered instrument used to bore holes in the bone and to cater to a range of applications, from dental to neurological surgeries.
The growing prevalence of chronic disorders requiring surgical intervention coupled with the introduction of technologically advanced instruments by key players is contributing to the growth of the market during the forecast period.
Significant Decline in Elective Procedures Amid COVID-19 to Restrict the Growth of the Market
COVID-19 pandemic has negatively impacted this market. Key players reported a decline in their revenues from their major surgical power tools products' sales due to the significant reduction in the number of surgeries during the COVID-19 restrictions.
Furthermore, the governments of several countries laid instructions for the postponement or cancellation of the non-essential surgeries to preserve the healthcare resources for the treatment of COVID-19 patients. This factor resulted in a huge decline in non-emergency procedures worldwide, which further limited the adoption of surgical drill during the 2019-2020 period.
Moreover, several research organizations & players suspended their research projects related to introducing a new and technologically advanced portfolio of surgical drill due to the imposition of lockdown in major countries. Whereas the recent outbreak of new covid-19 strain in countries like the U.K., India, and others is expected to further continue the trend of postponement of surgeries and increase the burden on the healthcare system of the affected countries.
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Introduction of Next Generation Drills to Spur Growth of Market
A large number of patients in developed and emerging countries are undergoing surgeries every year. Despite various advancements in surgical devices, drills have their distinct shortcomings. Pricing and shorter-battery life drills, etc., are presenting a huge opportunity for market players to focus on R&D and introduce advanced, next-generation devices in the market.
Various research institutes are already focusing on developing next-generation power tools, including drills such as high-speed drills with robotic systems, non-sterile battery drills, advanced architecture drills, etc.
Additionally, different market players including adeor medical AG and others are focusing on introducing these next-generation drills in the emerging market, which is anticipated to boost the overall market growth in the forthcoming years.
Growing Number of Surgeries to Augment Demand of Surgical Drill
Globally, the growing number of surgeries owing to the rising prevalence of chronic disorders and increasing road accidents, sports injuries, and trauma is one of the major factors contributing towards the growth of the market.
Also, the rapidly increasing geriatric population leads to the rising number of patients with orthopedic disorders, leading toa rise in the number of surgeries such as joint replacement, arthroscopy, organ transplant among elderly patients. This factor drives the demand for new and innovative surgical powered instruments, including surgical drills, in hospitals and other healthcare facilities.
The growing demand for surgical powered instruments, including drills, is therefore propelling the market players to invest heavily in R&D and launch of technologically advanced products. . Further, the growing number of technological advancements in the drills for surgeries, is anticipated to spur the surgical drill market growth during the forecast period.
Inadequate Quality Assurance and Lack of Sterilization Practices May Hamper Market Growth
Surgeons require high-quality surgical instruments to carry out successful procedures. The quality of surgical instruments is heavily relied upon by surgeons to perform procedures to the highest standard. However, the surgeons usually directly use the newly purchased surgical power tools, without undergoing sterilization procedures which results in harmful consequences.
Moreover, failure to properly disinfect or sterilize drills results in transmission of infectious pathogens to the patients. For instance, according to a survey conducted among the dental surgeons in the U.K., 68% of respondents believed they were sterilizing their instruments but did not use appropriate chemical sterilants or exposure times, and 49% of respondents did not challenge autoclaves with biological indicators.
In addition, emergence of advanced minimally invasive surgeries for spine and bone grafting along with comparatively higher cost of powered instruments and lack of reimbursement policies in emerging countries is limiting the adoption of surgical drills and are expected to further hamper the growth of the market during the forecast period.
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Growing Demand of Accessories in Different Surgeries to Lead to Dominant Position in 2020
Based on product type, the global market is segmented into instruments and accessories
The accessories segment held the dominating share in 2020. A rising number of surgical interventions, especially orthopedic procedures globally, is leading to rising demand for accessories and consumables such as batteries, electric consoles, pneumatic regulators, and others used for drills.
On the other hand, the longer shelf life of the instruments and high costs of the these devices limits the frequent buying of new instruments. This factor is primarily responsible for the lower share of the instruments segment during the forecast period.
Cost Effective Pricing to Hold the Lion’s Share of Reusable Segment in Global Market
Based on type, the global market is segmented into reusable and disposable.
The reusable segment will dominate the global market in 2020. The dominance of this segment is attributed to the higher preference of surgeons towards reusable instruments owing to their cost advantage, technical superiorities over the disposable surgical drills, and other functional and operational benefits offered by these devices.
On the other hand, the higher purchase price associated with the disposable surgical drills limits their adoption. It is a less popular choice among the surgeons and, therefore has a low growth rate during the forecast period. However, growing concerns about the sterilization of reusable devices and lack of established guidelines and protocols for sterilization in healthcare facilities especially in emerging countries, are shifting the focus towards disposable devices.
Growing Number of Orthopedic Surgeries Enabled the Dominance of Segment
Based on indication, the global market is segmented into orthopedic, dental, neurology, ENT, and others.
The orthopedic segment held the dominating share in 2020. The dominance is attributed to the increasing incidence of orthopedic disorders among the global population, resulting in more patients undergoing surgical interventions. For instance, according to the data published by ResearchGate, it was estimated that the global incidence rate of knee arthritis was 203 per 10,000 individuals, and the number of total knee arthroplasty was projected to grow by 85.0% and reach 1.26 million procedures by the end of 2030.
On the other hand, the neurology segment held the second-largest share in the global market in 2020. The segment's growth is lucrative owing to the increasing patient pool suffering from neurological disorders leading to higher demand for surgical procedures as a treatment. Hence, subsequently increasing the demand and uptake of surgical power tools, including drills.
Presence of Insurance Coverage for Surgeries in Hospitals & ASCs Resulted in Highest Market Share of Segment
Based on indication, the global market is segmented into hospitals & ASCs and specialty clinics
The hospitals & ASCs segment held the dominating share in 2020. The dominance of the segment is attributed to the higher number of surgeries performed in hospitals and ambulatory surgery centers, along with adequate reimbursement policies awarded by hospitals in emerging countries.
Moreover, the presence of skilled healthcare professionals and higher adoption of advanced drills for complicated surgical interventions are some of the major factors driving the patient flow towards these settings in developed and emerging countries.
On the other hand, the specialty clinics segment is growing at a CAGR higher than the hospitals & ASCs segment. An increasing number of specialty clinics, including orthopedic clinics in developed countries, and increasing investments by public and private players to develop healthcare infrastructure and facilities in emerging countries is anticpated to drive the segment's growth.
North America Surgical Drill Market Size, 2020 (USD Billion)
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North America to Hold Largest Market due to Increasing Prevalence of Neurological Disorders
The surgical drill market size in North America stood at USD 0.61 billion in 2020. The rising prevalence of neurological disorders, orthopedic disorders, and other chronic conditions, and higher percentage of surgeries is driving the demand for instruments and accessories for surgical power tools.
Europe held the second-largest share in the global market. An increasing number of orthopedic surgeries in countries such as the U.K., Germany, and others and the introduction of advanced drills in the region, are some of the factors driving the growth of this region during the forecast period.
Meanwhile, the market in Asia Pacific is expected to grow with the highest CAGR. Increasing penetration of market players in developing countries, high volume of surgeries and rise in medical tourism are some of the major factors responsible for the rapid growth of this region.
Stryker and DePuy Synthes (Johnson & Johnson Services, Inc.) to Acquire Leading Positions in Market
The global market is a consolidated market with players like Stryker, Johnson & Johnson Services, Inc., Zimmer Biomet, Medtronic, and B. Braun Melsungen AG comprising a dominant market share. These major players are constantly focusing on commercializing their products worldwide, launching new battery-powered drills for surgical procedures, and entering into a strategic partnership with other players to expand their product portfolio.
Also, the current market scenario is characterized by an increasing proportion of small manufacturers in emerging and developed countries like De Soutter Medical, AlloTech Co., LTD., NSK/NAKANISHI INC., and others Increasing focus on the development of new products shall enable the players to boost their market share. For instance, in March 2019, NSK launched the S-Max M series, the next phase of the evolution of their globally acclaimed handpieces.
An Infographic Representation of Surgical Drill Market
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The global surgical drill market research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, product type, application, and end-user. Besides this, it offers insights into the key market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market over recent years.
Value (USD billion)
Product Type; Type; Application; End User; and Region
By Product Type
By End User
Fortune Business Insights says that the global market stood at USD 1.12 billion in 2020 and is projected to reach USD 1.78 billion by 2028.
In 2020, the market size in North America was USD 0.61 billion.
The market will exhibit steady growth at a CAGR of 6.2% during the forecast period (2021-2028).
By type, the reusable segment is the leading segment.
The increasing prevalence of chronic disorders requiring surgical intervention and the growing adoption of technologically advanced drills are the key drivers of the market.
Stryker, DePuy Synthes, and Zimmer Biomet are the top players in the market.
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