Key Insights into the Surgical Power Tools Market: Trends, Growth Rate, and Opportunities Through 2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theSurgical Power Tools Market?
The surgical power tools market is expanding, driven largely by the increase in knee and hip replacement procedures. These surgeries involve excising damaged or diseased areas of the joint and substituting them with prosthetic implants. Surgical power tools are crucial in these procedures for drilling, sawing, and shaping the bones, among other things. For example, the American Association of Hip and Knee Surgeons reported in September 2023 that hip replacements in 2022 rose by 3.8% to approximately 766,000, while knee replacements increased by 5.1% to around 1.3 million. Despite knee revisions outnumbering hip revisions, both types account for about 10% of all annual primary surgeries. Therefore, an increase in knee and hip replacements is anticipated to stimulate growth in the surgical power tools market. Another important driver for the surgical power tools market is the growing geriatric population. A rise in the number of aging individuals can cause a surge in the demand for surgical power tools, as these devices can decrease surgery length, which is particularly beneficial for older patients with limited physical stamina. Shortening the time spent under anesthesia and in surgery can result in faster recovery periods and fewer complications after surgery. For instance, a World Health Organization (WHO) report from October 2022 predicted that by 2030, one in every six people worldwide will be 60 or older. The report also projected that by 2050, the global population of people 60 or older will reach 2.1 billion, and the population 80 or older will grow by 426 million from 2020 to 2050. Thus, the growing senior population is thought to be propelling the growth of the surgical power tools market.
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#What is the Anticipated CAGR of theSurgical Power Tools Market, and What Factors Will Drive It?
The size of the surgical power tools market has significantly increased over the past few years. The expansion is predicted to proceed from $2.34 billion in 2024 to reach $2.49 billion in 2025, posting a compound annual growth rate (CAGR) of 6.4%. The surge during the historical period is credited to early initiatives for surgeon training, regional adoption shifts, and established regulatory norms.
In the coming years, the market for surgical power tools is predicted to witness significant growth, increasing to $3.12 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. The growth projected in the forecast period can be credited to the inclusion of digital and robotic features, market penetration tactics, improved surgeon education programs and expansion of healthcare infrastructure. The forecast period is likely to be characterized by a focus on safety and precision, a surge in demand for specialized surgical methodologies, and heightened acceptance of robotics.
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What Are the Current Market Growth and Trends in theSurgical Power Tools Market That Industry Players Should Watch?
Leading firms in the surgical power tool market are introducing state-of-the-art products with leading-edge technologies such as the CD NXT power tool systems to deliver real-time depth measurement in the market. The CD NXT System is an exclusive technology that offers real-time depth measurement as the surgeon is performing drilling processes, enabling quick, precise, and standardized digital depth measurement for diverse procedures. For instance, in March 2023, Stryker Corporation, an American international medical technology company, introduced the CD NXT System. The system boasts innovative features like an integrated drilling and measurement process, automatic cortex-to-cortex measurement and digital display, and compatibility with all previous cordless driver attachments. This technology facilitates real-time depth measurement while the surgeon is drilling, ensuring swift, precise, and consistent digital depth measurement across a wide range of procedures.
What Are the Major Market Players Making an Impact on theSurgical Power Tools Market Growth?
Major companies operating in the surgical power tools market report are Johnson & Johnson, 3M, Medtronic PLC, Becton Dickinson and Company (BD), Stryker Corporation, Zimmer Biomet Holdings Inc., Olympus Corporation, GPC Medical Ltd., Smith and Nephew PLC, B. Braun Melsungen AG, Arthrex Inc., Altra Industrial Motion Corp., Integra LifeSciences Corporation, Conmed Corporation, Karl Storz GmbH & Co. KG, Exactech Inc., KLS Martin Group, Komet Medical, De Soutter Medical Ltd., MatOrtho Limited, MicroAire Surgical Instruments LLC, Nouvag AG, Shanghai Bojin Medical Instruments Co. Ltd., Imedicom Co. Ltd., Orthopromed Inc., Sharpline Group
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How Are the Key Segments of the Surgical Power Tools Market Driving Opportunities and Innovations?
The surgical power tools market covered in this report is segmented –
1) By Product: Surgical Drills, Electric Pen Drive
2) By Technology: Electric-Operated Power Tools, Battery -Driven Power Tools, Pneumatic Power Tools, Other Technologies
3) By Usage: Reusable Tools, Disposable Tools
4) By Application: Orthopedic Surgery, Neurosurgery, Dental And Craniomaxillofacial Surgery, Ear, Nose And Throat (ENT) Surgery, Cardiothoracic Surgery, Plastic And Reconstructive Surgery
5) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Surgical Drills: Electric Surgical Drills, Pneumatic Surgical Drills, Battery-Powered Surgical Drills
2) By Electric Pen Drive: Standard Electric Pen Drives, Advanced Electric Pen Drives With Multiple Functions
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What Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theSurgical Power Tools Market?# Market Expansion?
North America was the largest region in the surgical power tools market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical power tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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