Medical micro surgical drills market| Coherent Market Insights

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2. MEDICAL MICRO SURGICAL DRILLS MARKET ANALYSIS 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) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. The global medical micro surgical drills market is estimated to be valued at US$ 233.7 million in 2020 and is expected to exhibit a CAGR of 5.8% over the forecast period (2020-2027). Market Growth Biologic augmented microdrilling (BAM) is the new minimally invasive technique for cartilage regeneration. It is an outpatient procedure, in which damaged knee cartilage is infused with stem cells derived from bone marrow to promote regeneration and improve symptomatic pain and stiffness. The procedure include microdrilling surgery (initially) followed by the biologic injections and physical therapy. Thus, such new and advanced techniques is expected to drive demand for surgical micro drills by the surgeons. It is a novel alternative to total knee replacement (TKR) surgery.

4. Figure 1.Global Medical Micro Surgical Drills Market Value (US$ Mn) & Y-o-Y Growth Analysis,(2016-2027)

5. Market- Restraints However, disadvantages associated with microdrilling surgery is expected to hinder the market growth over the forecast period. For instance, in 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. This has led to low demand for micro surgical drills in emerging economies in regions such as Latin America, Middle East, and Africa, as microdrilling surgical procedures are very expensive for the patient population in such regions.

6. Regional Analysis • On the basis of region, the global medical micro surgical drills market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. • Among regions,North America is expected to hold a dominant position in the global medical micro surgical drills market over the forecast period. Increasing prevalence of the neurological disorders is contributing to growth of the micro surgical drills market in North America region. For instance, according to the American Neurological Association (ANA) in March 2017, every year, neurological diseases affect around 100 million peoples in the U.S. These significant number of the patients with one of the neurological disorder is expected to increase the number neurosurgeries in the U.S. thereby driving demand for medical micro surgical drills in the U.S.

7. Moreover, Europe medical micro surgical drills market is expected to witness significant growth over the forecast period, owing to presence of various research institutes who are engaged in conducting research studies to develop microsurgical drilling tools. For instance, researcher at Aston University, Birmingham UK, are engaged in conducting a research study to develop a series of micro-drilling devices (robotic surgical micro-drill), to achieve consistent and precise results. The system is being developed specifically to conduct precise cochleostomies. 

8. Figure 2.Global Medical Micro Surgical Drills Market Value Share (%), By Region (2020 & 2027)

9. Market Trends • Major players in the market are focused on adopting various marketing strategies to enhance their market share.For instance, in December 2019,Glenmark Pharmaceuticals Ltd. secured National Pharmaceutical Pricing Authority’s (India) nod for separate price for its digital dose inhaler or ‘Digihaler’. • Launch of devices to track usage of MDIs is boosting growth of the market. For instance,in November 2019, Lupin Ltd. launched a device – Adhero – to track usage pattern of metered-dose inhalers (MDI) by patients suffering from chronic respiratory diseases.

10. Competitive Section Key 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, and Johnson & Johnson

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