Surgical Procedures Volume Market: Current Developments and Expected Advancements
Transparency Market Research has
published a new market report titled, “Surgical
Procedures Volume Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2015 - 2023.” According to the report, the global surgical
procedures volume market stood at 1.3 Bn procedures in 2014 and is estimated to
reach 2.2 Bn procedures by 2023 at a CAGR of 5.6% from 2015 to 2023.
Technological advances have not
only expanded the surgical market by offering innovative medical devices, but
have also made the treatment process easier for surgeons. Minimally-invasive
surgeries entail shorter hospital stay, minimal incision, less post-surgery
complications, and shorter recovery time. These advantages increase the number
of patients opting for minimally-invasive surgeries. For instance, usage of
MEMS is a growing trend in the cardiac pacemaker market. MEMS-built pacemakers
are less invasive and cheaper. In April 2014, da Vinci Xi Surgical System,
developed by Intuitive Surgical, Inc., would also support the growth of the
Minimally-invasive surgeries. Outpatient minimally invasive surgery (MIS)
techniques have increased rapidly in the U.S. MIS are less expensive as
compared to open surgery, and it eliminates hospital stay and reduces risk of
complications.
The global surgical procedures
volume market has been broadly segmented into cardiovascular, orthopedic,
neurosurgery, ophthalmic, gynecology, and other procedures such as urology and
dental. Based on procedure type, the ophthalmic procedures segment dominated
the global surgical procedures volume market in 2014. Rising global geriatric
population is a major factor driving the ophthalmic procedures segment.
Ophthalmic procedures are further segmented into cataract surgery, refractive
surgery, and glaucoma surgery. Cataract surgery held the largest share in the
ophthalmic procedures segment. Demand for cataract surgery is expected to surge
in the next few years, as more baby boomers reach 65 years of age across the
world.
According to projections by the
World Health Organization (WHO), the world’s population is likely to increase
by about one-third in 10 years. At the same time, the number of people older
than 65 years will double. Hence, 32 million cataract operations will be
performed by 2020, up from 12 million in 2000. Moreover, advances in medical
technologies, particularly the diffusion of less invasive surgical
interventions, and better anesthetics have increased the efficacy and
productivity of the surgeries. Refractive surgery was the fastest growing
sub-segment of the ophthalmic procedures segment in 2014. Nearly 8.4% of the
population of North America is hyperopic and 23.9% is myopic. Over 150 million
people in the U.S. use corrective eyewear to compensate for refractive errors,
spending over US$ 15 Bn each year. Refractive surgeries have become more
successful than ever before due to the development of better and efficient
devices, with minimum hospital stay and higher efficiency. Hence, refractive
surgery is expected to witness the highest growth rate in the near future.
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The
gynecology segment is expected to expand at the highest growth rate during the
forecast period due to changing lifestyle and rising 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. Cesarean section was the largest sub-segment of the gynecology segment
in 2014. The segment is expected to dominate the market during the forecast
period. Cesarean section rates are increasing globally, primarily because many
patients opt for the procedure on request without clinical indication.
According to the U.S. Centers for Disease Control, about 33% women in the U.S.
had a cesarean delivery in 2013. C-section rate in the U.S. has risen nearly
60% since 2000, to 33% in 2012. Less pain associated with the delivery as
compared to vaginal delivery is the major reason women are opting for cesarean
section deliveries than normal vaginal deliveries. Brazil and China have the
most number of C-section deliveries. In Brazil, C-section deliveries account
for over 55% of all the births, with more women opting for the procedure each
year. According to the World Health Organization, rates of cesarean delivery
vary widely from country to country, ranging from 0.6% in South Sudan to 55.5%
in Brazil. Thus, technological development, higher disposable income, greater
personal health among the masses would further propel the C-section procedure
segment during the forecast period.
The global surgical
procedures volume market has been segmented as follows:
Global
Surgical Procedures Volume Market, by Procedure Type, (No. of Procedures),
2013–2023
·
Cardiovascular
Procedures
o Cardiac Rhythm Management
Device Implantations
§ Cardiac Pacemaker
Procedures
§ Implantable Cardioverter
Defibrillators
o Interventional Cardiology
Procedures
§ Cardiac Catheterization
§ Coronary Revascularization
§ Coronary Angiography
o Heart Transplantations
·
Neurosurgery
Procedures
o Craniotomy
o Aneurysm Coil Embolization
o CSF Drainage
o CSF Shunt
·
Orthopedic
Procedures
o Joint Replacement Surgery
§ Knee Replacement
§ Hip Replacement
§ Shoulder Replacement
o Ligament/Tendon Repair
o Spine Surgery Market
§ Spinal Fusion
§ Others
·
Ophthalmic
Procedures
o Cataract Surgery
o Glaucoma Surgery
o Refractive Surgery
·
Gynecology
Procedures
o Hysterectomy
§ Laparoscopic Hysterectomy
o Uterine Artery Embolization
o Cesarean Section
·
Other
Procedure
o Urology Procedure
o Dental Procedure
Global
Surgical Procedures Volume Market, by Geography, (US$ Mn), 2013–2023
·
North
America
o U.S.
o Canada
·
Europe
o U.K.
o Germany
o Rest of Europe
·
Asia
Pacific
o China
o Japan
o Rest of Asia Pacific
·
Latin
America
o Brazil
o Mexico
o Rest of LATAM
·
Rest
of the World (RoW)
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