According to analysts at Vantage Market Research, the Neurosurgical Drills Market is expected to reach USD 0.89 Billion by 2028, growing at a CAGR of 3.9% from 2021 to 2028. Surgical drills which come under precision medical instruments are basically used to drill bones of patients by using a surgical procedure in neurosurgery speciality. This is the primary reason to drive the Neurosurgical drills market. This market uses ENT and other neurosurgical methods such as neurosurgical patties, spine implants and cranial fixation and gained wide traction in the Neurosurgical industry.
- The neurosurgery segment of the Neurosurgical Drills Market accounted for the highest market share at a CAGR of 4% in upcoming years. High demand for invasive surgical procedures drives the market growth of the Neurosurgery segment. In addition use of power torque requirements for surgical procedures propel the segmental growth in the market.
- The traditional offline retail segment accounted for the highest market growth at a CAGR of 3.5% during the forecast period. The demand for this segment is higher due to the touch-and-feel experience while purchasing, and the provision of on-site guidance for customer perspective.
- North America dominated the Neurosurgical Drills Market growth at a CAGR of 4.8% in the projected period followed by Europe and APAC. The rising geriatric population, increasing use of invasive neurosurgeries and increased neurological disorders are the major factor fueling the Neurosurgical Drills Market growth in this region.
Factors such as the increased occurrence of neurological disorders and the increased number of neurosurgeries performed are propelling the market growth. Because most of the population suffers from neurological disorders, there is a high demand for using various advanced technologies in the Neurosurgical industry. These neurological disorders include strokes, multiple sclerosis, epilepsy to migraine neurological infections, brain injuries and Alzheimer and Parkinson disease.
Asia-Pacific is expected to expand the market at a moderate growth over the forecast period than others. This is due to the good establishment of nursing centres in the various countries. The availability of advanced technology instruments and the availability of a large number of medical companies are predicted the growth of the Neurosurgical Drills Market. In addition, increasing population, availability of various options about the treatment, increasing demand for a better healthcare structure, increased awareness about brain tumours and high funding and investments by the government in this region witnessed the high demand for neurological instruments in the market.
Some of the major players of the Neurosurgical Drills Market are B. Braun, Stars Medical Devices, DeSoutter Medical, Depuy Synthes, MedicMicro, Medtronic, Micromar, Adeor, Nouvag, NSK Surgery, Shanghai Bojin, Evonos, Aygun, ACRA-CUT, and among others.