Surgical Procedures Volume Market to Expand at a Healthy CAGR of 5.5% from 2021 to 2028

Surgical Procedures Volume Market: Introduction

According to the report, the global surgical procedures volume market was valued at US$ 1.73 Bn in 2020 and is anticipated to expand at a CAGR of 5.5% from 2021 to 2028. The global surgical procedures volume market has been broadly segmented into cardiovascular procedures, orthopedic procedures, neurosurgery procedures, ophthalmic procedures, gynecology procedures, and other procedures such as urology and dental. The cardiovascular procedures segment dominated the global surgical procedures volume market in 2020.

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Every year, around 310 million major surgeries are performed across the world; around 40 million to 50 million in the U.S. and 20 million in Europe. An estimated 1% to 4% of these patients will die, up to 15% will have serious postoperative morbidity, and 5% to 15% will be readmitted within 30 days. With an annual global mortality rate of around 8 million patients, which include cardiovascular disease & stroke, cancer, and injury.

Cardiovascular Procedures Segment to Lead Global Market

Cardiovascular disease is the leading cause of death globally, accounting for 17.5 million deaths per year, with low- and middle-income countries accounting for 80% of all deaths. Due to lack of infrastructure, human resources, and financial coverage, around 75% of the world's population does not have access to cardiac surgery when it is required.

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CVD, like many other noncommunicable diseases (NCDs), has become a growing global/public health priority; however, nearly 6 billion people lack access to safe cardiac surgical care when it is required. Control and prevention through lifestyle changes have been included in public health interventions, but these measures have had only a limited effect on cases with significant conditions and in reducing mortality due to the need for dramatic changes in the daily habits of large populations and cultures.

The gynecology segment is expected to expand at the highest growth rate during the forecast period due to changing lifestyle, rise in disposable income, increase in per capita income in the emerging markets, and better diagnosis of gynecological disorders such as menorrhagia, uterine fibroids, and cervical cancers.

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The segment is expected to dominate the market during the forecast period, owing to increase in incidence of gynecological conditions. Cesarean section rates are increasing globally, as many patients opt for the procedure on request without clinical indication. The most common gynecology surgeries and procedures are cervical cryosurgery, colposcopy, dilation & curettage (D&C), hysteroscopy, LEEP procedure, pelvic laparoscopy, and others.

Asia Pacific Held Major Market Share

In terms of region, the global surgical procedures volume market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Increase in demand for medical devices can be attributed to rise in burden of chronic diseases and surge in the geriatric population in these countries. Additionally, healthcare spending in countries in Asia has increased and the trend is expected to continue during the forecast period.

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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, for instance, attracted over 4 million medical tourists, bringing in around EUR 4 Bn in healthcare. Similarly, 3.5 million foreign patients spent more than EUR 4 Bn on health care in Thailand, which has one of the most advanced medical tourism sectors in the world.

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