Surgical Procedures Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global surgical procedures market growth forecasted to transform from 1,08,275.5 thousand procedures in 2023 to 1,27,748.5 thousand procedures by 2028, driven by a CAGR of 3.4%. The growth of the US surgical procedures market is largely driven by the growing prevalence of chronic diseases, the rising geriatric population, advancements in surgical techniques, and increased investment in health facilities. On the other hand, stringent regulations and the high cost of medical devices are major restraints in the market.

Surgical Procedures Market Trends

To know about the assumptions considered for the study, Request for Free Sample Report

Surgical Procedures Market Dynamics

Driver: Technological advancements in surgical procedures

US is considered a leader in medical technology innovation; most advanced surgical products and devices are developed and manufactured by US-based companies. The rapid growth of surgeries has been possible due to significant advancements in medical technology, which partly solved some of the technical and clinical challenges associated with surgical procedures. Hospitals and healthcare systems invest heavily in the latest technologies to provide the best possible care for their patients.

Of note is a six-year partnership between the National Aeronautics and Space Administration (NASA) (US) and the Skull Base Institute (US), which resulted in a 3D high-definition endoscope with a rotating tip: MARVEL (Multi-Angle Rear-Viewing Endoscopic tool). The small camera helps surgeons get a 3D view of a tumor during surgery. Due to its sub-4mm size, the camera requires a small incision; it can rotate 160 degrees to provide a better view.

Additionally, robotics has enabled surgeons to perform delicate or complex procedures that are extremely difficult or even impossible with other methods. Further, augmented reality (AR) technology has greatly enhanced surgical procedures by providing surgeons with real-time, interactive visual information and guidance during operations. For instance, AR-backed spinal fusion surgery, first conducted in 2020 in the US, helped surgeons to visualize the 3D spinal anatomy of a patient during surgery. The team at the Johns Hopkins Hospital praised the tool for its accuracy, safety, and operating efficiency. Thus, the launch of advanced technology products in this region has driven the surgical procedure market.

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. A study conducted by Healthcare BlueBook (a provider of data for healthcare services) and HealthSmart (a provider of health plans for self-funded employers) concluded that ASCs decreased the cost of outpatient surgery by USD 38 billion annually since these facilities offer a lower-cost site of care in comparison with hospital outpatient departments.

Challenge: Complications associated with surgical procedures

A few complications are associated with surgical procedures, resulting in additional healthcare costs. Most complications associated with surgeries are minor, but some can be quite serious. The patient’s discomfort after surgery depends on many things, including the type of surgery. Typical discomforts may include nausea and vomiting from general anesthesia, sore throat caused by the tube placed in the windpipe for breathing during surgery, soreness, pain, & swelling around the incision site or minor pain around the IV site and restlessness & sleeplessness among others. However, certain surgeries can also be high risk owing to patient-specific factors or operation-specific factors. Certain health factors can increase surgery risks. Some major patient-specific risks associated with surgical procedures may include obesity, postoperative delirium, postoperative cognitive dysfunction (POCD) and sleep apnea among others.

Surgical Procedures Market Overview

By type, the US surgical procedures market is segmented into dental, orthopedic, gastrointestinal, ophthalmic, cardiovascular, obstetric/gynecologic, cosmetic, ENT, urologic, and other surgical procedures. The large share of this segment can be attributed to the high incidence of dental disorders, growing expenditure on dental care, increasing elderly population and associated tooth loss, as well as rising awareness of oral hygiene in the US. However, ophthalmic surgical procedures are expected to witness highest growth during the forecast period due to the increasing prevalence of various ophthalmic disorders such as glaucoma, cataract, and diabetic retinopathy and the associated increase in eye diseases due to longer screen time.

To know about the assumptions considered for the study, download the pdf brochure

By channel, physician offices, hospitals, and ambulatory surgery centres make up the three segments of the US surgical procedures market. The hospitals segment is further divided into inpatient surgeries and outpatient surgeries. While physician offices segment dominated the US market in 2022, the ambulatory surgery centers market is anticipated to show fastest growth throughout the projected timeframe. The potential for cost reductions, the growing patient population, and the rising demand for better and quicker care among patients is likely to drive growth in the ASCs.

Scope of the Surgical Procedures Industry

The study categorizes the surgical procedures market to forecast revenue and analyze trends in each of the following submarkets:

By Type

• Gastrointestinal Surgical Procedures
• Cardiovascular Surgical Procedures
• Dental Surgical Procedures
• Cosmetic Surgical Procedures
• Urologic Surgical Procedures
• Ophthalmic Surgical Procedures
• Orthopedic Surgical Procedures
• ENT Surgical Procedures
• Obstetric/Gynecologic Surgical Procedures
• Other Surgical Procedures

Note: Other surgical procedures include procedures targeting the nervous system, the endocrine system, and the integumentary system.

By Channel

• Physician Offices
• Hospitals
  • Inpatient Surgeries
  • Outpatient Surgeries
• Ambulatory Surgery Centre

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst