Surgical Procedures Volume Market to Observe Strong Development by 2025
According to TMR, the global surgical procedures volume market is anticipated to reach 2.2 billion procedures by 2023. On the basis of geography, North America is the fastest growing Market and Asian Pacific is leading on account of the growing incidences of cardiovascular diseases, neurological disorders, traumatic injuries, and introduction of advanced surgical technologies. The market in North America is growing rapidly on account of the rising number of C-section surgeries, growing demand for minimally invasive surgical procedures, efficient and advanced health care infrastructure, and favourable reimbursement policies. In terms of volume, the gynaecological surgical procedures segment is leading in the market due to precise prognosis and treatment of disorders. The orthopaedic procedures segment, neurological segment, cardiovascular procedures, and dental segments are also lucrative.
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Rising Demand for Minimally Invasive Surgery Becoming a Trend Influencing Growth of Market
According to the lead author of the report, “the growing geriatric population is one of the key factors boosting surgical procedures.” The rising demand for minimally invasive procedures, advancements in technology in the medical sector, and rising investments for the improvement of the healthcare infrastructure are helping this market to grow. Rising incidences of trauma and the damage caused by accidents, street mishaps and the rising incidences of various chronic diseases are helping the market for surgical procedures to grow. The increasing spending capability of patients today as well as favourable reimbursement policies in various nations are also creating of favourable environment for the growth of the surgical procedures volume market.
Unfavourable Reimbursement Policies to Affect Market’s Growth
On the other hand, the market will suffer on account of the high cost of surgeries, especially in underdeveloped regions. The lack of favourable reimbursement policies in some countries will also affect the market’s growth negatively. However, on a brighter note, the healthcare environment is changing and even the infrastructure in developing nations are improving due to efforts taken by government and several NGOs. This will help drive the growth of the global surgical procedures market in the coming years.
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The data and information presented in this review is based on a TMR report, titled, “Surgical Procedures Volume Market (Procedures - Cardiac Rhythm Management Device Implantations (Cardiac Pacemaker Procedures, Implantable Cardioverter Defibrillators), Interventional Cardiology Procedures (Cardiac Catheterization, Coronary Revascularization, Coronary Angiography), Heart Transplantations, Neurosurgery Procedures (Craniotomy, Aneurysm Coil Embolization, CSF Drainage, CSF Shunt), Orthopedic Procedures (Joint Replacement Surgery (Knee Replacement, Hip Replacement, Shoulder Replacement), Ligament/Tendon Repair, Spine Surgery Market (Spinal Fusion ), Ophthalmic Procedures (Cataract Surgery, Glaucoma Surgery, Refractive Surgery), Gynecology Procedures, Hysterectomy, Laparoscopic Hysterectomy, Uterine Artery Embolization, Cesarean Section) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
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Rising geriatric population across the world has been identified as a major factor fueling the growth of the surgical procedures market. This is primarily due to elderly people are highly susceptible to various chronic disorders. Moreover, growth in the global population over 65 years of age would highly affect market growth. According to the U.S. Census Board, people older than 65 years represented around 13% of the total population; this