Surgical Procedures Volume Market to Reach US$ 2.6 Bn by 2028; Rise in Number of Interventional Cardiology Procedures to Offer Steady Revenue Growth, Finds TMR Study

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May 04, 2022, 08:30 ET

Advancements in cardiac rhythm management device technology to shape future directions of surgical procedures volume market; rising demand for gynaecological procedures to spur commercialization of new surgical technologies
North America projected to be substantially lucrative market, underpinned by massive uptake, especially to meet needs of elderly; medical tourism to bolster growth of Asia Pacific market

ALBANY, N.Y., May 4, 2022 /PRNewswire/ -- The number of surgical procedures has risen globally especially for non-communicable diseases. Hospitalization among older adults has also been growing on the back of rising occurrences of surgically treatable conditions in both developing and developed countries, thus fueling revenue growth of the surgical procedures volume market. Advancements being made in interventional cardiology are catalyzing lucrative opportunities in the market. The global valuation is projected to reach US$ 2.6 Bn by 2028, advancing at a CAGR of 5.5% during 2021–2028.

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The massive financial and societal burden that chronic diseases pose to healthcare systems in developed as well as developing regions of the world has spurred the growth of the surgical procedures volume market. An in-depth study on the different dynamics influencing investments find that increased focus on non-communicable diseases as a part of public health policies and population health interventions has expanded the surgical procedures volume market landscape.

In the U.S. and numerous Asian countries, the high healthcare burden of chronic diseases has bolstered the need for advanced healthcare infrastructure for conducting surgeries. Strides made in medical tourism has expanded the canvas for industry stakeholders to tap into the incremental avenues in the surgical procedures volume market.

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Key Findings of Surgical Procedures Volume Market Study

Unique Surgical Needs in Elderly Population to Expand Headroom for Growth: Adults aged 50 years and older are emerging as a lucrative target customer for surgical procedures. There is an unmet surgical need due to various factors such as late diagnosis, concerns of perioperative morbidity and mortality, and the paucity of healthcare resources. Increasing focus on improving access to public health and primary care for the elderly is likely to create massive revenue prospects in the surgical procedures volume market.
Advancements in Interventional Cardiology and Gynecological Procedures to Spur Revenue Generation: The demand emanating from cardiovascular procedures is expected to generate sizable revenues to the global surgical procedures volume market. The authors of the TMR study projected the segment to hold a leading share globally during the forecast period. Of note, they observed that technological advancements in interventional cardiology particularly cardiac rhythm management device technology has spurred the growth of revenues in the overall segment. The sub-segment held a leading share in 2020. Growth in number of cardiac catheterization procedures for structural heart disease has generated profitable opportunities that have been capitalized by market players in recent years. Further, growing number of gynecological surgical procedures have generated substantial avenues, mainly from rise in awareness about menorrhagia, uterine fibroids, and cervical cancers.

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Surgical Procedures Volume Market: Key Drivers

Advancements in healthcare infrastructure coupled with evolving reimbursement scenarios in economies in developing regions have considerably expanded the avenue for stakeholders in surgical procedures volume market. Growing number of elective surgeries has also catalyzed profitable avenues for them.
A burgeoning medical tourism has spurred the number of surgical procedures volumes, thus catalyzing the market growth.

Surgical Procedures Volume Market: Regional Growth Dynamics

Asia Pacific held a leading share of the global surgical procedures volume market in 2020. High cardiovascular mortality in the region and rise in surgeries due to neurological diseases and traumatic injuries have generated abundant lucrative opportunities in the regional market.
The North America surgical procedures volume market is projected to rise at a remarkable CAGR during the forecast period. Rapid rise in opportunities is underpinned by the widespread uptake of minimally invasive surgeries, especially in gyanecology and cardiology. The prevalence of heart valve disease has catalyzed the demand.

Surgical Procedures Volume Market: Key Players

Some of the key players in the surgical procedures volume market are The Ottawa Hospital, Massachusetts General Hospital, Helsinki University Hospital, All India Institute of Medical Sciences, and Michael's Hospital.

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Global Surgical Procedures Volume Market: Segmentation

Surgical Procedures Volume Market, by Procedure Type

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 Market

Spinal Fusion
Others

Ophthalmic Procedures

Cataract Surgery
Glaucoma Surgery
Refractive Surgery

Gynecology Procedures

Hysterectomy

Laparoscopic Hysterectomy

Uterine Artery Embolization
Cesarean Section

Other Procedures

Urology Procedure
Dental Procedure

Surgical Procedures Volume Market, by Region

North America

U.S.
Canada

Europe

U.K.
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
Australia
India
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

South Africa
GCC Countries
Rest of Middle East & Africa

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