Published Date: 31-Mar-23
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, 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.
The Electric Operated segment acquired maximum revenue share in the Global Surgical Power Tools Market by Technology in 2021 thereby, achieving a market value of $1.3 billion by 2028. This device gives consistent torque despite high resistance and greater load. In addition, introducing electrically powered power tools has decreased the safety measures connected with accidental injuries, driving market expansion. Furthermore, electric power tools' lack of vibrational sensation contributes to their increased market demand.
The Spine & Neuro Surgery segment has shown the growth rate of 6.1% during (2022 - 2028). The use of minimally invasive neurosurgeries is likely to fuel the segment's growth. Some surgical procedures, especially brain surgery, are increasingly preferred to surgical power tools. This segment is growing as a result. In addition, increasing patient desire for minimally invasive neurosurgeries owing to shorter incision lengths, less recovery period than traditional procedures, less trauma and tissue damage, and shorter hospital stays thereby supports the growth of this market segment.
The Hospitals segment is leading the Global Surgical Power Tools Market by End User in 2021 thereby, achieving a market value of $1.5 billion by 2028. Most hospitals choose to use surgical power tools because they minimize the duration of surgery and enable surgeons to do procedures with greater precision and accuracy. This is anticipated to stimulate the expansion of the surgical power tools market over the forecast period.
The Power Source segment is poised to grow at of 6.3% during (2022 - 2028). This market's expansion can be attributable to the ongoing commercialization of products, increased affordability and accessibility, and a growing installation base for innovative medical devices. In addition, it is anticipated that the growth in research expenditures on energy-efficient power supplies and the evolution of technology in the power supplies and ecosystem will create profitable prospects for the market.
The North America market dominated the Global Surgical Power Tools Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $977.4 million by 2028. The Europe market is exhibiting a CAGR of 4.3% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 5.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/surgical-power-tools-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.), and GPC Medical Ltd.
By End User
Unique Offerings from KBV Research
North America Surgical Power Tools Market Future Scope & Opportunities 2022-2028
Europe Surgical Power Tools Market Size & Growth Forecast 2022-2028
Asia Pacific Surgical Power Tools Market Size, Share & Industry Outlook to 2028
LAMEA Surgical Power Tools Market Growth, Trends & Forecasts 2022-2028