The Global Neurosurgical Drills Market was valued at USD 524 Million in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.9% between 2021 to 2028. Neurosurgical drill is a type of surgical device operated pneumatic and electrical and used to drill out skull to access cranial space for procedures. The neurosurgical drills market is driven by the factors such adoption to minimal invasive neurosurgeries, better performance than manual and improved reliability. Some others are increased number of neurosurgeries mostly skull based and technological advancement.
Since the outbreak of the COVID-19, it widely spread all over the world and has impacted many countries economy and caused huge loses in businesses. The neurosurgical drills market is experiencing a negative growth due to global health emergency the chronic sector is suffering as the number of surgeries were also less due to lockdowns imposed by the government.
The neurosurgical drills market is segmented on the basis of power type and application. The power segment is further bifurcated into electric, pneumatic and battery. The electric sector is holding the largest share and shows potential growth in future forecast. The application segment is divided as neurosurgery, orthopedic and ENT surgery. Based on these the orthopedic having the largest share and potential growth for further forecasted years.
The major players for the neurosurgical drills market are Shanghai Bojin, Medtronic, Depuy Synthes, Nouvag, NSK Surgery, MedicMicro, Stars Medical Devices, Adeor, Aygun, B. Braun, Micromar, Evonos, ACRA-CUT, DeSoutter Medical.
Regionally, the market is segmented as Asia-Pacific, Europe, North America, the Middle East and Africa and Latin America. North America attained the highest share due to presence of key players and presence of skilled neurosurgeons. The Asia-Pacific region is also emerging and will grow in the future forecast as many emerging economies are in the region.