Surgical Power Tools Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region

"The Business Research Company recently released a comprehensive report on the Global Surgical Power Tools Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The surgical power tools market size has grown strongly in recent years. It will grow from $2.2 billion in 2023 to $2.34 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to early surgeon training initiatives, regional adoption dynamics, foundational regulatory standards..

The surgical power tools market size is expected to see strong growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to integration of digital and robotic features, market penetration strategies, enhanced surgeon training programs, healthcare infrastructure expansion.. Major trends in the forecast period include focus on safety and precision, demand for specialized surgical techniques, increased adoption of robotics..

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Market Drivers and Trends:

The rise in the number of knee replacement and hip replacement surgeries is driving the growth of the surgical power tools market. Knee replacement and hip replacement are surgical procedures that involve removing damaged or diseased joint components and replacing them with artificial prosthetic implants. Surgical power tools are helpful in knee replacement and hip replacement surgeries as they enable drilling, sawing, reaming, screw insertion, and shaping bones. For instance, according to the 2022 Australian Orthopedic Association National Joint Replacement Registry (AOANJRR) Annual Report, in 2021, the number of hip, knee, and shoulder joint replacements increased by 8,411 procedures (7%) compared to the previous year (2021). Therefore, the rise in the number of knee replacement and hip replacement surgeries is expected to propel the growth of the surgical power tools market.

Major companies operating in the surgical power tool market are developing innovative products with advanced technologies, such as the CD NXT power tool systems, to provide real-time depth measurement in the market. The CD NXT System is a patented technology that offers real-time depth measurement while the surgeon is drilling and enables quick, precise, and uniform digital depth measurement in a variety of procedures. For instance, in March 2023, Stryker Corporation, a US-based multinational medical technology company, launched the CD NXT System. The system has innovative features, including one-step drilling and measurement, automatic cortex-to-cortex measurement and digital readout, and compatibility with all legacy cordless driver attachments. This technology provides real-time depth measurement as the surgeon drills, allowing for fast, accurate, and consistent digital depth measurement across various procedures.

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Major Key Players of the Market:

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

Surgical Power Tools Market 2024 Key Insights:

• The Surgical Power Tools Market is expected to grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Rise In Number Of Knee Replacement And Hip Replacement Surgeries
• Innovative Technological Advancements In Surgical Power Tool Systems Revolutionize Surgical Depth Measurement
• North America was the largest region in the surgical power tools market in 2023. 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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