According to a report by Research Dive, the Global Surgical Power Tools Market is estimated to garner $3,237.5 million at a CAGR of 6.4% during the forecast period. The all-inclusive report provides a summary of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during and post the pandemic era. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time market.
Factor Impacting the CAGR Figures Pre and during COVID-19
The report discloses the real-time CAGR recorded by the market during the pandemic. According to the report, the surgical power tools market has earned a CAGR of 6.4% during the last few months of the crisis, while the pre-COVID-19 estimation was only 5.8%. The reason behind this growth is the growing necessity of growing adoption of surgical power tools in the healthcare industry owing to longer life cycles.
Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
The comprehensive report states that the real-time market size has surpassed the pre-COVID-19 approximations. The real-time market size has garnered a revenue of $ 2,103.4 million, while it was estimated to reach $ 2,068.0 million as per the previous analysis.
The growth in the global surgical power tools market over the research period is also projected to be fostered by technical advances combined with rising investments in R&D of surgical power tools. Large companies are focused on competitive steps such as advancements in technology and innovation, strategic alliances and the development of new products in the consumer market to gain a great deal
The report asserts that the global surgical power tools market will continue to grow even after the pandemic. The leading players of the market are emphasizing on research & development, product launches, merger & acquisition to sustain the market competition once the pandemic comes to an end.
The Stryker F1, Small Bone Power System, was launched in March 2018 by Stryker, the largest medical technology company. The system provides a safe, lightweight, and cable-free approach for extremity procedures.
Top 10 Surgical Power Tools Manufacturing Companies:
- Exactech, Inc.
- MatOrtho Limited
- De Soutter Medical
- Allotech Co., Ltd.
- Desoutter Industrial Tools.
- Medical Devices Business Services, Inc.
- B. Braun Melsungen AG
- Zimmer Biomet