Surgical Power Tools Market to Observe Fastest Growth in Asia-Pacific

The surgical power tools market is estimated to generate USD 383.9 million in 2023, which will rise to USD 583.6 million, with a 6.3% CAGR, by 2030.

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The progression of this industry is because of the increasing number of technological inventions coupled with the rising count of injuries on the face and head. Furthermore, the rising occurrence of health problems associated with age like osteoporosis, is also boosting the industry expansion.

The hand pieces category, based on product, is the major contributor to the industry, because of their comfortability, ease of usage, effectiveness, and accurate results. They are highly employed in orthopedic procedures for drilling, fixing, as well as placing bone screws. 

The battery category, based on power source, will propel at the highest rate, of 6.6%, during this decade. This is because these variants can be transported anyplace, as no lead is linked to them, which also makes them suitable to utilize.

Orthopedic surgery is a key application of these devices due to the rising occurrence of problems associated with the bones. As per some government reports, approximately 1.71 billion individuals are suffering from musculoskeletal disorders all over the globe. 

Whereas, the neurosurgery category will propel at the fastest rate during this decade. This is because of the high complexity of the nervous system, which necessitates equally technologically developed equipment to be operated upon.

The hospitals category, based on end users, is the largest contributor to the surgical power tools market. This is because most accidental incidents that need surgeries are admitted to hospitals. Furthermore, hospitals have expert specialists, as well as developed facilities, because of which patients favor them for treatment.

Furthermore, governments are increasing their investment in improving hospitals, making quality care inexpensive as well as easily available. Additionally, hospitals have direct links with manufacturers/providers so they can attain products in bulk at low prices.

North America is leading the industry, and it is likely to remain leading during this decade, generating a value of USD 0.2 billion by 2030. This can be because of the enhanced healthcare system as well as high disposable salary.

Furthermore, significant investments are assigned for medical device R&D every year by different private administrations and governments, to make surgeries faster, effective, safer, and cost-effective.

APAC will propel at the fastest rate, of 6.5%, during this decade, because of the rising populace above 65 years of age, coupled with the increasing pace of technological developments.

Furthermore, the growing count of patients with brain disorders as well as bone-related problems is also boosting the regional industry growth.

With the growing number of technological inventions, the surgical power tools industry will continue to advance in the coming years.

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Global Solid-State Battery Market Will Reach $3,915 Million by 2030

In the year 2030, the solid-state battery market will reach $3,915 million from $290 million in 2021, at a mammoth 33.5% CAGR in the coming years. The increasing acceptance of gadgets, the rising disposition of EVs, and the rising efficacy of battery managing and energy storing systems are the main factors pushing the industry. Furthermore, the market will be influenced by an increasing volume of robot shipments worldwide. Furthermore, the increasing R&D actions related to solid-state batteries, rising disposition of IoT, and contraction of electronic devices have appeared as the foremost driving forces.

Thin-film batteries had the majority of the share of the solid-state battery market in the recent past, and they are all set to propel at a healthy growth rate to touch $3,486 million by the year 2030. These variations are normally put in fitness bands and smartwatches, because of their smaller size, effective revitalization rate, higher output voltage, lesser weight, advanced energy concentration, higher elasticity, lower possibilities of electrolyte leak, extended shelf life, tighter packing, shortened structure.

In the year 2021, APAC accounted for the largest share in the solid-state battery market, of about 50%, and this will continue in the near future as well. Progressions in the renewable energy sector, a large customer base for movable electronics, and progress in the use of battery management systems are the aspects instigating the sales of these batteries. Furthermore, public establishments in India and China aim to decrease the carbon emission of vehicles and improve the usage of electric vehicles.

Solid-state batteries are advanced to deliver higher energy concentrations, which will advance their proficiencies, therefore resulting in increased sales. For example, in September 2021, scholars from University of California, San Diego, advanced a new battery blending a solid-state electrolyte along with an all-silicon anode, giving improved energy density. Silicon anodes have tenfold higher energy concentration as compared to graphite anodes, usually used in lithium-ion batteries. Also, for uses like grid storage and electric vehicles, these batteries are harmless and enduring.

The demand for solid-state batteries is increasing with the increasing acceptance of electric vehicles.

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