Market Overview:
The Surgical Broaches Market size is expected to grow from USD 4.88 billion in 2022 to USD 9.96 billion by 2030, at a CAGR of 9.33 % during the forecast period.
A surgical broach is a surgical instrument designed to provide a reconstructive and supportive approach to comforting the operating target in the surgical procedure. They are typically handheld instruments, manual, with an elongated, tapered working end and a handle. These surgical broaches are used to form an intramedullary canal in a bone to provide prosthetic support. Technological advancement in the production of surgical broaches like the 3D etching process makes it more convenient as an instrument to use in general Orthopedic surgeries and other surgeries. In that they are employed to generate precise edges to support replacement implants, surgical broaches are comparable to rasps. To support a prosthetic, an intramedullary canal is created in a bone using surgical broaches.
Top Key Players Covered In The Surgical Broaches Market:
- Smith & Nephew plc (UK)
- Zimmer Biomet (US)
- Integrated Medical Technologies Inc. (US)
- Tecomet Inc. (US)
- Sandvik A (Sweden)
- Precision Edge Surgical (US) and Other Major Players.
Market Dynamics and Factors:
The global population has been aging, and with increasing age, there is a higher prevalence of age-related conditions like osteoarthritis, which often necessitates joint replacement surgeries. Obesity rates have been increasing worldwide, and obesity is a significant risk factor for joint-related problems, leading to a higher demand for joint replacement surgeries. There has been a better understanding of musculoskeletal conditions and joint-related issues, leading to earlier diagnosis and a higher number of patients seeking joint replacement surgeries. An advanced surgical broach can enhance the precision and efficiency of the surgical procedure. It may lead to better bone preparation, reducing the risk of complications and improving overall surgical outcomes. Surgeons may prefer using such devices, leading to increased demand in the market. Advanced broaches with better design and materials can help minimize tissue damage during surgery. Reducing trauma to surrounding tissues can result in faster patient recovery, shorter hospital stays, and improved patient satisfaction.
The Surgical Broaches Market Report Highlight:
- By Application, the Orthopedic segment is Anticipated to Dominate the Market Over the Forecast period. Rthopedic surgeries, particularly joint replacement procedures (e.g., hip and knee replacements), are among the most common surgical interventions worldwide. The increasing prevalence of orthopedic conditions such as osteoarthritis, fractures, and degenerative joint diseases drives the demand for surgical broaches.
- By End-Use, the Hospitals segment is Anticipated to Dominate the Market Over the Forecast period. Hospitals are the primary centers where a vast majority of surgeries take place, including orthopedic procedures that frequently use surgical broaches. Hospitals deal with a significant volume of patients requiring various surgical interventions, which leads to a consistent demand for surgical broaches.
- North America dominated the market of surgical broaches during the forecast period, due to availability of the advanced healthcare infrastructure. The rising number of surgeries in the United State is the major driving factor behind the growth of the market. For instance, the National Library of Medicine states that in North America, almost 2.4 million hip and knee surgeries were performed in 2021 from over 1150 institutions that submitted data, representing an 18.3% increase in total procedural volume compared with 2020.
Key Industry Development:
- In September 2023, B. Braun Aesculap - OsteotomX Saw Blade System: Introduces a novel saw blade design with optimized geometry and material properties, minimizing vibrations and heat generation during osteotomies, leading to cleaner cuts and faster bone healing.
- In February 2023, IntelliSense™ Tibial Nail Broaching System: Integrates sensors and feedback mechanisms into the broach, providing real-time data on cutting forces and bone quality, aiding surgeons in making informed decisions during intramedullary nailing procedures
The Surgical Broaches Market Segmentation:
By Type
- Point of Sale (POS) Solution
- Payment Gateway Solution
- Payment Processing Solution
- Payment Wallet Solution
- Payment Security & Fraud Management Solution
By Services
- Professional Services
- Managed Services
By Deployment
- Cloud-based
- On-premises
By Industry
- BFSI
- Media & Entertainment
- Retail
- Healthcare
- IT & Telecom
- Transportation & Logistics
- Others
For this report, Introspective Market Research has segmented the Surgical Broaches Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
