Wilmington, Delaware, United States, July 19, 2023 (GLOBE NEWSWIRE) -- The global surgical procedures volume market was valued at US$ 1.7 Bn in 2020 and is projected to grow at a CAGR of 5.5% from 2021 to 2028.
Rise in number of people diagnosed with heart valve disease is anticipated to drive demand for mitral valve repair surgery, tricuspid valve surgery, and aortic valve surgery. Technological advancements in the devices used in these procedures are improving the surgical outcomes in the target population. Focus of medtech companies on unveiling next-generation of interventional cardiology devices, such as novel implantable cardioverter-defibrillators, is broadening market outlook.
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Competition Landscape
Key players operating in the surgical procedures volume market are
- Michael’s Hospital
- All India Institute of Medical Sciences
- Stanford Health Care – Stanford Hospital
- Helsinki University Hospital
- Massachusettes General Hospital
- The Ottawa Hospital
- Apollo Hospitals Enterprise Limited
- Fortis Hospital
- The Johns Hopkins Hospital
Key Findings of Study
- Advancements in Interventional Cardiology Devices and Procedures: Rapid growth of the population with coronary artery diseases across the globe is expected to bolster the surgical procedures volume market. Development of therapies for the treatment of atrial tachyarrhythmias in patients, especially those suffering from ventricular arrhythmias, is encouraging innovation in interventional cardiology. Introduction of multifunctional therapeutic and monitoring devices in implantable cardioverter-defibrillator (ICD) presents lucrative opportunities for companies in the surgical procedures volume market. Rise in R&D activities in ICD is likely to pave the way for procedures that will prove effective in sudden cardiac death prevention. Significant demand for percutaneous interventions for the treatment of structural heart diseases is likely to offer robust growth opportunities to market players in the near future.
- Rise in Demand for Minimally Invasive Gynecologic Surgeries: Rapid innovations in laparoscopic surgery and improvements in standard of care for the treatment of a range of gynecological conditions are anticipated to create lucrative opportunities for companies in the surgical procedures volume market. Increase in implementation of enhanced recovery after surgery (ERAS) protocols in gynecological procedures, such as in gynecologic oncology, is anticipated to broaden market outlook. Rise in rates of caesarean section (C-section) across the globe is anticipated to augment market value. According to the WHO, 29% of all births are likely to take place by C-section by 2030,
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Key Growth Drivers of Surgical Procedures Volume Market
- Increase in number of elderly population (patients aged 60 years and above) in several countries across the globe is a key driver of the surgical procedures volume market. A large proportion of population in developed nations, such as the U.S., Germany, and Japan, is currently over 60 years old. Demand for cardiological procedures is high among the seniors who are aged more than 70 years. This is because the incidence of cardiovascular disease increases rapidly with age.
- The pace of population aging is likely to accelerate in low- and middle-income countries (LMIC) in the next few decades, according to statistics provided by the WHO. This demographic transition is expected to drive demand for surgical procedures and boost market expansion.
- High prevalence of chronic diseases in developing countries across the globe is a significant driver of the surgical procedures volume market. Advancement in surgical treatments for a range of chronic disease and disorders is poised to fuel the market.
Regional Landscape
Asia Pacific is a lucrative market for surgical procedures volume. Increase in the geriatric population (i.e. increase in the older population is highest in the least developed countries) in the region by the end of 2050 is anticipated to propel the market. Significant adoption of minimally invasive surgery in cardiology and gynecology among the patient population is likely to fuel market development in Asia Pacific. Technological advances in devices used in interventional cardiology are likely to broaden market outlook in Asia Pacific in the next few years.
Rapid expansion of medical tourism in Asia is anticipated to augment market growth in Asia Pacific in the near future. Surge in per capita total expenditure on health in several countries in the next few years is anticipated to offer significant opportunities for companies in the market in the region.
The market in North America is projected to expand at the highest growth rate in the next few years. Considerable demand for inpatient obstetric and gynecologic procedures in the region is anticipated to propel market growth. Presence of publicly funded Medicare programs in the U.S. and Canada is positively influencing market growth dynamics in North America. Rise in rates of cardiac procedures in these countries, especially in the elderly, is anticipated to augment market value in the region.
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Segmentation
The global surgical procedures volume market is segmented based on
Cardiovascular 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
- Spinal Fusion
- Others
Ophthalmic Procedures
- Cataract Surgery
- Glaucoma Surgery
- Refractive Surgery
Gynecology Procedures
- Hysterectomy
- Uterine Artery Embolization
- Cesarian Section
Other Procedures
- Urology
- Dental
Region
- Asia Pacific
- Latin America
- Middle East & Africa
- Europe
- Asia Pacific
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