Rise in incidences of road accidents and increase in number of surgical operations drive the growth of the global surgical drill market.
PORTLAND, Ore., Aug. 3, 2022 /PRNewswire/ — Allied Market Research published a report, titled, ‘Surgical Drill Market by Product (Instrument, Accessories), by Application (Orthopedic Surgery, Neurosurgery, Ear Nose Throat, Dental Surgery, Others), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, Others): Global Opportunity Analysis and Industry Forecast, 2021- 2031.’ According to the report, the global surgical drill industry was estimated at $983.55 million in 2021, and is anticipated to hit $1.52 billion by 2031, registering a CAGR of 4.4% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape. The market study is exclusively meant to help the readers with a complete valuation of industry analysis and trends.
Pre-determinant of growth-
Rise in incidences of road accidents and increase in number of surgical operations drive the growth of the global surgical drill market. Moreover, surge in R&D activities in terms of advancements in surgical drills, product launch, and product approvals have supplemented the growth yet more. At the same time, growing geriatric population across the world has created multiple opportunities for the key players in the industry.
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Impact of Covid-19 on Surgical Drill Market-
- Implementation of lockdown in most countries gave way to disruptions in the supply chain. The entire healthcare industry chose to focus on Covid-19-related products, which had a sheer adverse impact on the global surgical drill market, especially during the initial phase.
- Furthermore, the majority of elective surgeries were either canceled or postponed, which declined the demand for surgical drills altogether.
- Nevertheless, the healthcare sector has been restructured to provide safer healthcare facilities and the market for surgical drills has also started getting back on track.
Get detailed COVID-19 impact analysis on the Surgical Drill Market –
The instrument segment to dominate by 2031-
Based on product, the instrument segment held nearly two-thirds of the global surgical drill …