Surgical Power Tools Market Is Expected to Generate $3.7 Billion by 2031: Allied Market Research

Surge in prevalence of brain tumor and spine tumor serves as a potential opportunity for the expansion of the global surgical power tools market. Based on region, North America held the largest share in 2021, contributing to nearly half of the global surgical power tools market share. The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global surgical power tools market.


Portland, OR, March 30, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global surgical power tools market garnered $2.2 billion in 2021, and is estimated to generate $3.7 billion by 2031, manifesting a CAGR of 5.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

Request Sample, PDF Brochure- https://www.alliedmarketresearch.com/request-sample/3797

Report coverage & details:

Report Coverage Details
Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $2.2 billion
Market Size in 2031 $3.7 billion
CAGR 5.2%
No. of Pages in Report 280
Segments covered Technology, Product, Application, End User, and Region
Drivers Surge in prevalence of brain tumor and spine tumor
Opportunities Increase in the prevalence of chronic diseases such as cardiovascular diseases, orthopedic diseases, cancer and others
Restraints Surgical power tools are expensive, and many small hospitals and medical facilities may not be able to afford them

High acquisition and maintenance costs of surgical power tools

High cost of orthopedic, cardiology, and neurology surgical procedures

Impact of Covid-19 on Surgical Power Tools Market:

  • The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global surgical power tools market, as a lot of clinics and hospitals across the globe were restructured to increase the hospital capacity for the patient diagnosed with COVID-19.
  • Decrease in the number of elective surgeries during COVID-19 pandemic due to lockdown had decreased the demand for surgical power tool. For instance, World Journal of Orthopedic, in 2020, states that there was an observed reduction in the total number of orthopedic admissions by 55% during the pandemic and elective orthopedic interventions were observed to have been declined by 72% in Poland.

Procure Complete Report (280 Pages PDF with Insights, Charts, Tables, and Figures)
https://www.alliedmarketresearch.com/checkout-final/skeletal-dysplasia-market

The research provides detailed segmentation of the global surgical power tools market based on Technology, Product, Application, End User, and Region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on technology, the electric operated segment held the highest share in 2021, accounting for nearly half of the global surgical power tools market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 5.5% from 2022 to 2031.

Based on product, the surgical drill segment accounted for the highest share in 2021, contributing to more than two-fifths of the global surgical power tools market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 5.7% from 2022 to 2031.

Based on end user, the hospitals segment accounted for the highest share in 2021, holding more than half of the global surgical power tools market, and is expected to continue its leadership status during the forecast period. This segment is estimated to grow at the highest CAGR of 5.7% during the forecast period.

For Purchase Inquiry-  https://www.alliedmarketresearch.com/purchase-enquiry/3797

Based on region, North America held the largest share in 2021, contributing to nearly half of the global surgical power tools market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 6.4% during the forecast period.

Leading market players of the global surgical power tools market analyzed in the research include Johnson & Johnson, CONMED Corporation, Sharma Orthopedic, B. Braun SE, GPC Medical Ltd., Stryker Corporation, Medtronic plc, Zimmer Biomet Holding Inc., Arthrex, Inc., Altra Industrial Motion Corp.

The report provides a detailed analysis of these key players of the global surgical power tools market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Research Reports for Information, Communication and Technology:

Hyperhidrosis Treatment Market - Opportunity Analysis and Industry Forecast, 2021–2030

Smart Medical Devices Market- Opportunity Analysis and Industry Forecast, 2021–2030

Specialty Medical Chairs Market - Global Opportunity Analysis and Industry Forecast, 2021–2030

Connected Drug Delivery Devices Market - Global Opportunity Analysis and Industry Forecast, 2021–2030

Non-Animal Alternative Testing Market - Global Opportunity Analysis and Industry Forecast, 2021–2030

                                                                                 
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com 
Web: https://www.alliedmarketresearch.com