Surgical Drills Market Size, Share, Growth Analysis, By Product(Pneumatic Drills, Electric Drills), By Application(Orthopedic Surgery, Neurosurgery) - Industry Forecast 2024-2031

Surgical Drills Market size was valued at USD 755.3 million in 2021 and is poised to grow from USD 800 million in 2022 to USD 1340 million by 2030, growing at a CAGR of 5.9% during the forecast period (2023-2030).

The global surgical drills market is projected to expand owing to an upsurge in surgical procedures, advancements in technology, and the growing demand for surgical drill manufacturing. The escalating prevalence of chronic diseases is expected to fuel the demand for various procedures like orthopedic surgery due to an increase in sports-related injuries, dental surgery, and neurosurgery throughout the forecast period. Changing lifestyles, altered consumer eating habits, and an aging population are among the other factors propelling the global market's growth. The primary cause of chronic illnesses and fatalities in the population can be attributed to an unhealthy diet.

Strict government regulations and post-surgery complications also contribute to the market's dynamics. Surgical drills are widely used in treating sports injuries, which significantly contribute to the rising number of bone fractures worldwide. Developed nations boast favorable payment policies for surgical drill treatments of sports injuries. Additionally, there is a growing preference for minimally invasive surgeries in developed economies, which, in turn, will boost the demand for surgical drills. Technological advancements and the development of improved implants have led to an increased need for minimally invasive procedures, driving revenue growth in the Surgical Drills Market.

US Surgical Drills Market is poised to grow at a sustainable CAGR for the next forecast year.