Understanding Surgical Procedures
A surgical procedure or surgery is a medical specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury to help improve bodily function and appearance or repair unwanted ruptured areas. Surgery can involve cutting, abrading, suturing, or physically changing body tissues and organs.
Market Outlook: Surgical Procedures on the Rise
As per the recently published report by MarketsandMarkets™, The report "Surgical Procedures Market By Type (Gastrointestinal, Cardiovascular, Dental, Cosmetic, Urologic, Ophthalmic, Orthopedic, ENT, Nervous System, Obstetric/Gynecologic), Channel (Physician Offices, Hospitals, ASCs) - US Forecast to 2028" is projected to reach 1,27,748.5 thousand procedures by 2028 from 1,08,275.5 thousand procedures in 2023, at a CAGR of 3.4% during the forecast period.
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24 Market Data Tables
27 Figures
86 Pages and in-depth TOC on " Surgical Procedures Market - Global Forecast to 2028”
Surgical Procedures Market - By Type
Gastrointestinal Surgical Procedures
Cardiovascular Surgical Procedures
Dental Surgical Procedures
Cosmetic Surgical Procedures
Urologic Surgical Procedures
Ophthalmic Surgical Procedures, and many more......
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Surgical Procedures Market.
Market Segmentation: -
Based on type, the US surgical procedures market is segmented into orthopedic, gastrointestinal, urologic, dental, cardiovascular, ophthalmic, cosmetic, ENT, obstetric/gynecologic, and other surgical procedures.
Based on channel, the US surgical procedures market is segmented into physician offices, hospitals, and ambulatory surgery centers. Physician offices held the largest share in 2022, followed by hospitals and ambulatory surgery centers.
The highest CAGR of this segment can be attributed to the potential for cost reduction and the rising demand for better and quicker care among patients. In 2022, specialities that increased their footprint in Ambulatory Surgical Centers (ASCs) included orthopaedics, cardiology, and higher acuity spine procedures. According to the data from the Ambulatory Surgical Center Association, orthopedics was the most common specialty served by ASCs in 2022.
Opportunity: Increasing Adoption Of Outpatient Surgeries
Ambulatory surgery centers (ASCs) are freestanding facilities specializing in surgical, diagnostic, and preventive procedures that do not require hospital admission. Medical procedures are moving into these outpatient facilities due to technological advances such as minimally invasive surgical procedures and value-based care incentives. Health systems have also been acquiring or partnering with physicians and physician practices, further driving the volume of services performed in outpatient settings. The cost-effectiveness of ASCs provides significant savings for governments, third-party payers, and patients.
Conclusion
The surgical procedures market is poised for robust growth driven by technological advancements and the shift towards outpatient surgeries. Despite challenges like regulatory hurdles and high costs, the market outlook remains positive with ongoing investments and strategic initiatives.
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