MEDICAL MICRO SURGICAL DRILLS MARKET ANALYSIS

The global medical micro surgical drills market is estimated to be valued at US$ 277.5 million in 2023 and is expected to exhibit a CAGR of 6.1% during the forecast period (2023-2030).

Analysts’ Views on Global Medical Micro Surgical Drills Market:

Medical micro surgical drills are the surgical tools/instruments used by surgeons to drill bones and teeth. These drilling tools are generally used in neurosurgeries, spinal surgeries, and dental surgeries. The rising number of patient population with a neurological disorder, spinal disorder, and others are expected to increase the number of open surgeries and minimally invasive surgeries. Thus, it offers the opportunity for various manufacturers to offer innovative micro surgical drills for allowing surgeons to perform such surgeries more efficiently.

Figure 1. Global Medical Micro Surgical Drills Market Share (%), By Product Type, 2023

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Global Medical Micro Surgical Drills Market – Driver

Increasing incidence of orthopedic disorders and dysfunctions

Increasing incidence of orthopedic disorders and dysfunctions is expected to propel the growth of the global medical micro surgical drills market over the forecast period. For instance, the article published in National Center for Biotechnology Information (NCBI) Journal in September 2022, reported the age-standardized point prevalence and annual incidence rates of orthopedic disorders and dysfunctions were 446.6 and 24.9 in 2021, which increased by 12.4% and 9.9% from 2010 around 7,522 cartilage restoration procedures have been reported by the surgeons in the U.S.

Increasing preference of physicians for robotic surgery

Increasing preference of physicians for robotic surgery is expected to increase the demand for micro surgical drills, thereby driving the global medical micro surgical drills market growth. For instance, according to the Association of American Medical Colleges (AAMC) in June 2021, it is estimated that the physicians shortage could reach between 37,800 and 124,000 physicians by 2034 in the U.S.

Figure 2. Global Medical Micro Surgical Drills Market Value (US$ Million), by Region, 2023

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Global Medical Micro Surgical Drills Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global Medical Micro Surgical Drills market over the forecast period. North America is estimated to hold 39.45 % of the market share in 2023. The global medical micro surgical drills market is expected to witness significant growth in the coming years, driven by the high prevalence of orthopedic disorders and dysfunctions, favorable health reimbursement, and increased awareness, North America is expected to hold a dominant position in the global medical micro surgical drills market over the forecast period. Increasing prevalence of neurological disorders is contributing to the growth of the micro surgical drills market in North America region. For instance, according to the American Neurological Association (ANA) in March 2021, neurological diseases affect around 100 million peoples in the U.S. This significant number of patients with one neurological disorder is expected to increase the number of neurosurgeries in the U.S. thereby driving demand for medical micro surgical drills in the U.S.

Global Medical Micro Surgical Drills Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of things from one place to another.

However, the COVID-19 pandemic had a positive impact on the global Medical Micro Surgical Drills market. The COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the number of dysfunctional patients increased, and so has the demand for the Medical Micro Surgical Drills. For instance, according to the article published in 2021 on PubMed Central, “COVID-19 and Dysfunction Crosstalk: Emerging Association, Therapeutic Options and Challenges” explains that the management of rheumatoid arthritis patients in the COVID-19 context is a difficult task in and of itself. Even though online consultations are advisable with patients who are having stable Dysfunction.

Global Medical Micro Surgical Drills Market Segmentation:

The Global Medical Micro Surgical Drills Market report is segmented into by Product Type By Power System, By Application, and Region.

By Product Type , the market is segmented into Straight Attachment Drill and Angled Attachment Drill. Out of which, the Straight Attachment Drill is expected to hold a dominant position in the global Medical Micro Surgical Drills market during the forecast period and this is attributed to technological advancement beacuase its more effective in neuro surgery.

By Power System, the market is segmented into Electrical Micro Drills, Battery Powered Micro Drill, and Pneumatic Micro Drill. Out of which, the Electrical Micro Drills is expected to dominate the market over the forecast period and this is attributed to the prompt treatment that can lead to proper recovery.

By Application, the market is segmented into Neurosurgery, Spinal Surgery, Microsurgery, Dental Surgery, and Others. Out of which, Neurosurgery is expected to dominate the market over the forecast period and this is attributed to increasing neuro disorders.

Among all the segmentation, the Power System segment is expected to dominate the market over the forecast period and this is attributed to increasing preference of robotic surgery by physicians.

Global Medical Micro Surgical Drills Market Cross Sectional Analysis:

Key players are making medical micro surgical drills with advanced technology emerging economies is also expected to boost demand medical micro surgical drills market in North America region. For instance, in May 2021, Zynex Inc manufacturing and marketing of medical devices, launched NeuroMove is U.S. FDA-cleared for stroke rehabilitation, and its use has dramatically ameliorated functional impairments in stroke survivors in many clinical studies and in the clinical practice.

Global Medical Micro Surgical Drills Market: Key Developments

In November 2021, B. Braun, a medical and pharmaceutical device company in Germany, and REVA Medical, LLC., a leader in bioresorbable polymer technologies for vascular applications, announced the strategic partnership for the distribution of Fantom Encore - a bioresorbable scaffold for coronary interventions, manufactured with REVA's patented material Tyrocore. B. Braun started active distribution of the products in Germany and Switzerland.

In July 2021, Pharmacy automation provider Parata Systems, a portfolio company of Frazier Healthcare Partners, announced the acquisition of Synergy Medical, a privately-held company that develops automation technologies to prepare and dispense solid oral medications in blister cards. This acquisition expands Parata's offering of innovative pharmacy automation technologies to further meet the needs of retail, hospital, long-term care, government and direct-to-home pharmacies.

In July 2020, WON TECH Co., Ltd. is medical aesthetic lasers and energy-based aesthetic equipment manufacturing company in South Korea, announced that 'Picowon', an alexandrite (755nm)-based pico laser, has obtained U.S. Food and Drug Administration (FDA) approval.

In January 2021, Syneron Medical Ltd., a company that develops and markets devices for cosmetic surgery, introduced The Frax Pro system an advanced diode laser system that delivers highly targeted 1550 nm and 1940 nm wavelengths for dual-depth skin resurfacing, which is U.S. FDA-approved and CE-marked.

On March 2, 2023, Stryker Corporation, a multinational medical technologies corporation based in the U.S., announced the launch of its CD NXT System, the latest innovation in the company's power tools. The patented technology provides real-time depth measurement as the surgeon drills, allowing for fast, accurate, consistent digital depth measurement across various procedures. 

In August 2021, Exactech, a developer and producer of innovative implants, instrumentation, and smart technologies for joint replacement surgery, announced the expansion of its Truliant Total Knee System with a new porous-coated implant option to microdrilling surgery.

Global Medical Micro Surgical Drills Market: Key Trends

Introduction of medical micro surgical drills with advanced technology

Introduction of medical micro surgical drills with advanced technology in the market is expected to drive the growth of the global medical micro surgical drills market over the forecast period. For instance, in November 2021, Stryker Corporation, a multinational medical technologies corporation based in the U.S., launched the Prophecy Infinity Resect-Through Guides for use in total ankle replacement surgeries. The system represents the refinement of Stryker’s industry gold standard technique, allowing surgeons to improve OR efficiency by reducing potentially time-consuming interoperative steps in a streamlined surgical process.

Global Medical Micro Surgical Drills Market: Restraint

Disadvantages associated with micro drilling surgery

Disadvantages associated with micro drilling surgery is expected to hinder the market growth over the forecast period. For instance, according to the National Library of Medicine in February 2020, reported, the treatment of large, full-thickness chondral lesions in the knee, microdrilling surgery is performed, but this increases the cost burden on the patients, as it requires a large number of post-operative bone marrow aspiration and knee injections, which are not covered by the medical insurance

Key players focusing on developing advance products with safety and cost effective which is expected to drive the market growth over the forecast period.

Global Medical Micro Surgical Drills Market - Key Players

Major players operating in the global Medical Micro Surgical Drills market include Rohanika Medical, GPC, De Soutter Medical, Biochrom, Millennium Surgical, Phoenix Surgical, Medtronic, StrenuMed, Synergy Medical Technologies, B. Braun Melsungen AG, Nouvag, Stryker Corporation, Zimmer, Exactech, Stars Medical Devices, Ortho Care, Aygun Surgical Instruments and Johnson & Johnson.

Global Medical Micro Surgical Drills Market– Definition

Medical micro surgical drills are used to create holes in the bone for the attachment of surgical pins, plates, or screws. These micro surgical drills are utilized in various surgeries such as neurosurgery, orthopedic surgery, dental surgery, spinal surgeries and others, to drill bones, teeth, and others. It is widely used in the field of dentistry to remove decay and reshape teeth in preparation for a filling