Global Medical Micro Surgical Drills Market, by Product Type (Straight Attachment Drill and Angled Attachment Drill), by Power System (Electrical Micro Drills, Battery Powered Micro Drill, and Pneumatic Micro Drill), by Application (Neurosurgery, Spinal Surgery, Microsurgery, Dental Surgery, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as launch of new products, which will drive the global medical micro surgical drills market. For instance, on March 02, 2023, Stryker, a medical device manufacturing company, 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.
Global Medical Micro Surgical Drills Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of things from one place to another.
COVID-19 had a positive impact on the global medical micro surgical drills market. For instance, In May 2020, Leica Microsystems, a microscope manufacturing company in Germany, launched Stellaris in pandemic, its new flagship confocal microscopy platform, designed to significantly improve scientists Ability to capture three-dimensional images of living cells and tissues by the surgical drills.
Global Medical Micro Surgical Drills Market: Key Developments
On May 10, 2023, Hubly Surgical, a medical device company, received 510k clearance from the US Food and Drug Administration for Hubly Drill, a cranial access drill.
In May 2020, F. Hoffmann-La Roche Ltd., a multinational healthcare company in Switzerland, announced its acquisition of Stratos Genomics is a Biotechnology company in Seattle, Washington. The development of a diagnostic micro drilling product was made possible by this acquisition. This enhanced the business's healthcare diagnosing division and raised its revenue-generating capacity.
In June 2021, joimax GmbH company in technologies and training methods for full-endoscopic and invasive spinal surgery in Germany, is excited to announce the global launch of its new generation Shrill, the Shaver Drill System. Developed for the removal of soft tissue and bone, the joimax Shrill system is also highly effective in treating stenosis, a degenerative spine condition.
In August 2021, ClearPoint Neuro, Inc., a global therapy-enabling platform company providing navigation and delivery to the brain, announced it has entered into a strategic and commercial partnership with German-based surgical equipment leader adeor medical AG for powered neurosurgical drill solutions.
Browse 36 Market Data Tables and 26 Figures spread through 180 Pages and in-depth TOC on “Global Medical Micro Surgical Drills Market”- Forecast to 2030, Global Medical Micro Surgical Drills Market, by Product Type (Straight Attachment Drill and Angled Attachment Drill), by Power System (Electrical Micro Drills, Battery Powered Micro Drill, and Pneumatic Micro Drill), by Application (Neurosurgery, Spinal Surgery, Microsurgery, Dental Surgery, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/medical-micro-surgical-drills-market-3796
Key Takeaways of the Global Medical Micro Surgical Drills Market:
- The global Medical Micro Surgical Drills market is expected to exhibit a CAGR of 6.1% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global medical micro surgical drills market.
- Among application, the neurosurgery segment is expected to hold a dominant position in the global medical micro surgical drills market during the forecast period and this is attributed to the technological advancements in the field of medical micro surgical drills. For instance, in November 2021, Sandvik Coromant, a machining solutions company, launched two new micro drill families specifically designed for precision machining. The CoroDrill 462 with -XM geometry and the CoroDrill 862 with -GM geometry support industries that demand small parts manufacturing, such as medical, automotive, electronics, and aerospace. Designed to cover a variety of work piece materials, the new drills offer precise performance where accuracy is key.
- Among region, North America is expected to be the dominant region in the global Medical Micro Surgical Drills market, owing to the key players focusing on organic strategies to start new product launches. For instance, in May 2021, Arbutus Medical, Developer of orthopedic power tools intended to help surgeons and doctors perform surgeries in U.S., launched a new kit to improve the efficiency and speed of trauma centers in performing skeletal traction, while maintaining sterility.
- Major players operating in the global medical micro surgical drills market are 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.
