The growth of dental diseases and ear nose throat (ENT) diseases is driving the surgical drill market size. For example, according to the World Health Organization (WHO) report updated on March 2022, approximately 3.5 billion people worldwide suffer from dental diseases. The increasing incidence of traumatic brain injuries (TBI) and sports-related injuries contribute to the growth of the surgical drill industry. For example, according to the Centers for Disease Control and Prevention (CDC), in 2021, traumatic brain injuries (TBIs) caused 64,362 deaths in 2020. In addition, growth in the aging population is driving growth. market
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Furthermore, the rise in adoption of artificial prosthetics contributes to the growth of the surgical drill market size. Surgical drills are used to attach prosthetics. Thus, growth in the aging population, rising incidence of accidents and increasing demand for prosthetics contribute to the growth of the market.
Surgical Drill Market trends that are fueling the growth of the Surgical Drill market include research and development for the development of Surgical Drill, increase in product approvals, and new product launches in the market. Additionally, integration of software-based navigation systems with surgical drills contributes to market growth.
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On the basis of product, the market is segmented into equipment and appliances. The instrument segment dominated the market in 2021 and this trend is expected to continue during the forecast period due to advancements in surgical drills and increase in number of surgeries.
North America accounted for the majority share of the surgical drill market in 2021 and is expected to remain dominant during the forecast period. This is due to the increasing prevalence of chronic diseases and the presence of major players in the region. Economic growth is expected in Asia-Pacific, as the number of hospitals increases and the population is high.
Key Findings of The Study
- On the basis of products, the instrument segment was the highest contributor to the market in 2021.
- By application, the orthopedic surgery segment was the highest contributor to the Surgical Drill Market Forecast in 2021.
- Depending on end user, the hospitals segment was the highest contributor to the market in 2021.
- Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
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