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United States High Speed Surgical Drill Market New Horizons in Market Size Exploring Future Growth Potential

United States High Speed Surgical Drill Market New Horizons in Market Size Exploring Future Growth Potential

Report Ocean has published a new report on the United States High Speed Surgical Drill Market in diverse regions to produce a report with more than 250+ pages. 

The United States High Speed Surgical Drill market held a market value of USD 220.5 Million in 2021 and is projected to reach USD 301.4 Million by the year 2030. The market is anticipated to grow at a CAGR of 3.7% from 2022 to 2030. Surgical drills are devices used for making holes in a bone for attachment of plates, screws, or surgical pins. The market is expected to be driven by the increased health care expenditure and rising access to health care facilities globally. Furthermore, growing medical tourism and rising cases of injuries & accidents.

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Despite the driving factors, high cost of surgical drills are anticipated to hinder the market growth. Furthermore, increasing postoperative complication also pose as a threat to the market growth.

Growth Influencers:
Growing cases of injuries and accidents

Rising number of accidents and injuries are posing as a major health concern. They are leading to a rising number of surgeries, hence increasing the demand for better surgical drills for convenience and speedy procedures. According to the Association for Safe International Road Travel, over 38,000 people in the U.S. die to crashes on the roadways. Furthermore, around 4.4 million people suffer from serious injuries and require medical attention. Hence, increasing cases of injuries and accidents are expected to boost the market growth for high speed surgical drills.

Increasing healthcare expenditure

According to the Centre for Medicare and Medicaid Services (CMS), the health care spending in the U.S. reached USD 4.1 trillion or USD 12,530 per person in 2020. This was an increase of around 9.7% since the previous year. Rising health care expenditure is also boosting the demand for technologically advanced surgical tools, such as high speed surgical drills, hence fuelling the market growth over the projected period of 2022-2030.

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Segments Overview:

The United States High Speed Surgical Drill market is segmented based on type, product, and application.

By Type,
Pneumatic High Speed Surgical Drill
Electric High Speed Surgical Drill

The electric high speed surgical drill segment is anticipated to witness the fastest growth rate of around 4% over the projected period. Electric surgical drills come in compact size and also offer high torque. Also, they dont make much noise. All these factors are resulting in their growing adoption, which is fuelling the market growth.

By Product,
Capital
Consumable Sales

The consumable sales segment is estimated o surpass a market value of USD 150 million by 2023 owing to their high need in every type of surgery. Capital equipment can be repeatedly used in all types of procedures.

By Application,
Dentistry
Orthopedics
Neurology
Others

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The dentistry segment holds an opportunity of more than USD 20 million during 2021 to 2030 owing to the increasing usage of high speed surgical drills for removing decay and reshaping teeth in preparation of a filling. The orthopaedics segment is estimated to account for the largest market share of over 40% in 2021 owing to the rising demand for prosthetics and implants.

Competitive Landscape

Key players operating in the United States High Speed Surgical Drill market include Johnson & Johnson, Medtronic, Brasseler, Smith & Nephew, Conmed, Nouvag AG, Stryker, Aesculap Inc., NSK America Corporation, De Soutter Medical USA, Inc., and Other Prominent Players. The cumulative market share of the four major players is close to 15%.

These key players are involved in collaborations, new product launches, and mergers & acquisitions to strengthen their market presence. Conmeds product portfolio includes Conmed Linvatec Micropower Orthopedic High-Speed Drill, Hall Microfree, and Conmed Drill Surgical Power Tool For instance, in January 2022, Medtronic acquired Affera, a Boston, U.S.-based company dealing in cardiac mapping and navigation systems and catheter-based cardiac ablation technologies. With this, Medtronic expanded its product portfolio.

Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

Continue……..

The United States High Speed Surgical Drill market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

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The United States High Speed Surgical Drill market report answers questions such as:

What is the market size and forecast of the United States High Speed Surgical Drill Market
What are the inhibiting factors and impact of COVID-19 on the United States High Speed Surgical Drill Market during the assessment period
Which are the products/segments/applications/areas to invest in over the assessment period in the United States High Speed Surgical Drill Market
What is the competitive strategic window for opportunities in the United States High Speed Surgical Drill Market
What are the technology trends and regulatory frameworks in the United States High Speed Surgical Drill Market
What modes and strategic moves are considered favorable for entering the United States High Speed Surgical Drill Market

Key Metrics Explored in Report Ocean Research Service:

Market Size: Quantifying the total value or volume of the market to provide a comprehensive understanding of its scale and potential.

Market Growth Rate: Measuring the rate at which the market is growing over specific periods to assess attractiveness and potential for investment.

Market Share: Analyzing the portion or percentage of the market captured by specific companies or products, providing insights into competitive positions.

Customer Satisfaction: Assessing levels of satisfaction or dissatisfaction among customers with a focus on products, services, or brands. This aids in gauging customer loyalty and identifying areas for improvement.

Pricing Analysis: Examining pricing strategies, including average prices, price differentials, and price elasticity, to understand market dynamics.

Market Segmentation: Dividing the market into distinct segments based on demographics, geography, behavior, or psychographics to understand varying needs and preferences.

Customer Acquisition Cost (CAC): Calculating the cost of acquiring a new customer to evaluate the efficiency of marketing and sales efforts.

Customer Lifetime Value (CLV): Measuring the total value a customer generates over their entire relationship with a company to assess long-term profitability.

Return on Investment (ROI): Evaluating the profitability and effectiveness of investments or marketing campaigns by measuring returns relative to costs.

Competitive Analysis: Assessing the performance and strategies of competitors, including market share, revenue growth, product portfolio, and customer satisfaction.

Key Performance Indicators (KPIs): Utilizing specific metrics to measure business or organizational performance, such as sales growth, market penetration, customer retention rate, and profitability.

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About Report Ocean:

Report Ocean stands as a preeminent provider of market research reports within the industry. Renowned globally, we are acclaimed for delivering insightful and informative research reports. Our commitment lies in furnishing clients with a comprehensive blend of both quantitative and qualitative research outcomes. As an integral component of our expansive global network and thorough industry coverage, we offer an in-depth reservoir of knowledge that empowers strategic and well-informed business decisions. Our approach integrates cutting-edge technology, advanced analysis tools, and our proprietary research models, all underpinned by years of expertise. This synergy allows us to craft essential details and facts that consistently surpass expectations.

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