WASHINGTON, Nov. 16, 2021 (GLOBE NEWSWIRE) -- According to a new report by Vantage Market Research, the neurosurgical drills market is expected to reach USD 0.89 Billion by 2028, growing at a CAGR of 3.9% in between 2021 to 2028. The primary reason to drive the neurosurgical drills market is due to the use of surgical drills surgical procedures in neurosurgery speciality. The high demand of neurosurgical patties, spine implants and cranial fixation, and gained wide traction in the neurosurgical industry is fuelling the growth of neurosurgical drills market in the coming years.
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Key Findings:
- Neurosurgery segment of neurosurgical drills market accounted the highest market share at a CAGR of 4.9% in upcoming years. High demand for invasive surgical procedures is driving the market growth of neurosurgery segment. In addition, use of power torque requirements for surgical procedures propels the segmental growth of the market in the near future. Factors such as prevention, diagnosis, surgical treatment, and rehabilitation of disorders are boosting the segmental growth of the market during accounted years.
- Battery powered drills segment accounted the highest market growth at a CAGR of 3.5% during the forecast period. The demand for this segment is higher due to the factors such as low cost and easy to operate. Due to the plastic body and iron inner parts of battery power drills, these drills are non-autoclavable. This also one of the key factors of segmental growth of neurosurgical drills market.
- North America dominated the neurosurgical drills market growth at a CAGR of 5.1% in the projected period followed by Europe and APAC. Rising geriatric population, increasing use of invasive neurosurgeries and increased neurological disorders are the major factor fueling the neurosurgical drills market growth in this region.
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Some of the major players of neurosurgical drills market are B. Braun, Stars Medical Devices, DeSoutter Medical, Depuy Synthes, MedicMicro, Medtronic, Micromar, Adeor, Nouvag, NSK Surgery, Shanghai Bojin, Evonos, Aygun, ACRA-CUT, among others.
Factors such as increased occurrence of neurological disorders and increased number of neurosurgeries performed are propelling the market growth in the coming years. Because most of the population suffers from neurological disorders, there is high demand of using various advanced technologies in the neurosurgical industry. These neurological disorders include strokes, multiple sclerosis, epilepsy to migraine neurological infections, brain injuries and Alzheimer and Parkinson disease.
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Asia-Pacific is expected to expand the market at a moderate growth over the forecast period than another segment. This is due to the well establishment of nursing centres in the various countries. Availability of advanced technology instruments and availability of large number of medical companies are predicted the growth of neurosurgical drills market. In addition, increasing population, availability of various options about the treatment, increasing demand for a better healthcare structure, increased awareness about brain tumours and high funding and investments by government in this region witness the high demand of neurological instruments in the market.
The neurosurgical drills market is segmented as follows:
By Product Type (Revenue: USD Million, 2016 - 2028)
- Electric Drills
- Pneumatic Drills
- Battery Powered Drills
- Others
By Application (Revenue: USD Million, 2016 - 2028)
- Neurosurgery
- Orthopaedic Surgery
- ENT Surgery
- Dental
- Others
By Region (Revenue: USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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