Surgical Procedures Volume Market Demand, Insights and Forecast 2021-2028

Surgical Procedures Volume Market Outlook 2028

• The global surgical procedures volume market was valued at US$ 1.7 Bn in 2020

• It is estimated to expand at a CAGR of 5.5% from 2021 to 2028

• The global surgical procedures volume market is expected to reach the value of US$ 2.6 Bn by the end of 2028

Medical Tourism and Rising Healthcare Expenditure Fueling Market Growth in Asian Countries

The expansion of the surgical procedures volume market can be attributed to the ever-increasing geriatric population in Asia Pacific and rise in the burden of chronic diseases. The surging healthcare expenditure in the countries of Asia is expected to continue during the assessment tenure.

The medical tourism industry in Asia Pacific saw 10 million patients and EUR 15 Bn to EUR 17 Bn in revenue in 2016. In 2016, India hosted over 4 million medical tourists, generating around EUR 4 Bn in the healthcare industry. Similarly, 3.5 million foreign patients spent more than EUR 4 Bn on healthcare in Thailand, since Thailand is known to be one of the most advanced medical tourism sectors in the world.

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Reopening of Hospitals with Routine Practices Reviving Market Growth Post COVID-19 Pandemic
There has been a decline in elective surgical procedures due to the ongoing coronavirus pandemic. However, the reopening of healthcare facilities as per their usual medical practices is encouraging patients to seek surgical treatments.

Such trends are increasing footfalls in hospitals, thus helping to revive growth of the surgical procedures volume market.

Stakeholders in the surgical procedures volume market are focusing on positive to limited negative sectors such as cardiovascular procedures, neurosurgery procedures, and orthopedic procedures to keep revenue flowing in the global healthcare ecosystem. Med-tech companies are analyzing their high risk clients and customers where recovery of debt may be an issue.

Ever-increasing Grey Population in U.S. Boosting Surgical Procedure Volumes

The increase in geriatric population across the world has been identified as a major factor triggering the growth of the surgical procedures volume market, as chronic diseases are common in elderly people. The ever-expanding global population over 65 years of age is projected to boost market growth. According to the U.S. Census Board, people older than 65 years represented around 13% of the total population, and this percentage is estimated to reach 20% by 2030.

As suggested by the World Health Organization (WHO), the global geriatric population is predicted to reach 1.5 billion by 2050. Countries with a high grey population are the U.S., Japan, and Germany. Other factors driving the surgical procedures volume market include the rise in the number of trauma injury cases.

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Gynecology Surgical Procedure Volumes to Rise with Disease Awareness

Due to changing lifestyle and rising disposable income, the gynecology segment is projected to grow at an exponential rate during the forecast period. Increase in per capita income in emerging markets and better diagnosis of gynecological disorders such as cervical cancers, menorrhagia, and uterine fibroids are translating into growth opportunities for market stakeholders.

The growing awareness about different gynecological conditions is encouraging women to seek treatment and undergo surgical procedures.

Cesarean section rates are increasing globally, as many patients opt for the procedure on request without clinical indication. Since gynecology surgeries and procedures are potentially complicated, stakeholders are increasing R&D to meet requirements for pelvic laparoscopy, cervical cryosurgery, hysteroscopy, and colposcopy, among others.

Cardiovascular Procedure Segment to Lead Global Surgical Procedures Volume Market

Companies in the surgical procedures volume market are establishing stable income sources in the cardiovascular (CVD) segment by focusing on improvements in heart transplantation, cardiac rhythm management devices implantations, and interventional cardiology procedures.

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The growing number of interventional cardiology procedures has led to a rise in the usage of cardiac catheterization in structural heart disease.

However, adverse effects of this technique is leading to the increase in incidence of therapeutic catheterization. This is triggering the need for proper training of surgeons and medical staff in order to improve patient quality of life.

Surgical Procedures Volume Market: Overview

• Increase in geriatric population across the world has been identified as a major factor fueling the growth of the surgical procedures volume market. This is primarily due to elderly people are highly susceptible to various chronic disorders.

• Moreover, increase in the global population over 65 years of age is projected to boost market growth. According to the U.S. Census Board, people older than 65 years represented around 13% of the total population; this percentage is expected to reach 20% by 2030.

• According to the World Health Organization, the global geriatric population is anticipated to reach 1.5 billion by 2050. Countries aging at a rapid pace are the U.S., Japan, and Germany. Other factors driving the surgical procedures volume include increase in incidence of chronic disorders and rise in the number of trauma injury cases.

• The global surgical procedures volume market has been segmented into cardiovascular, orthopedic, neurosurgery, ophthalmic, gynecology, and other procedures such as urology and dental
Cardiovascular Procedure Segment to Lead Surgical Procedures Volume Market

• The cardiovascular procedures segment has been split into cardiac rhythm management devices implantations, interventional cardiology procedures, and heart transplantation

• The interventional cardiology procedures sub-segment held the largest share of the cardiovascular procedures segment in 2020, due to rise in usage of cardiac catheterization in structural heart disease, and is becoming complex due to increase in incidence of therapeutic catheterization

• According to the American Heart Association, over 5 million people in the U.S. are diagnosed with heart valve disease each year, thereby making coronary angiography the leading segment in the interventional cardiology procedures market

• The gynecological procedures segment is anticipated to grow at a rapid pace during the forecast period. Growth of the gynecology procedures segment can be attributed to changing lifestyle, increasing per capita income in emerging markets, and rising prevalence of gynecological diseases such as menorrhagia, uterine fibroids, and cervical cancers globally.

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Asia Pacific Dominated Surgical Procedures Volume Market

• Asia Pacific dominated the global surgical procedures volume market in 2020, due to increase in incidence of cardiovascular diseases, traumatic injuries, neurological disorders, and introduction of advanced surgical technologies. Increase in the geriatric population is another major driver of the surgical procedures volume market.

• North America was the fastest growing market for surgical procedures in terms of volume during the forecast period, due to growing innovation and adoption of new surgical technologies, high growth of minimally invasive surgeries, and C-section surgeries.

Moreover, favorable reimbursement, well-established healthcare infrastructure, rise in healthcare expenditure, and high number of hospital beds per capita are anticipated to accelerate the medical infrastructure development in the U.S. making it the dominating market in North America.

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