Surgical Procedures Market Boom to $5.10 Trillion by 2032

adminJanuary 4, 2024

The global surgical procedures market size is expected to increase USD 5.10 trillion by 2032 from USD 3.15 trillion in 2023 with a CAGR of 5.20% between 2023 and 2032.

Surgical Procedures Market Size 2023 To 2032

Key Takeaways

North America contributed more than 37% of revenue share in 2022.
Asia Pacific is estimated to expand the fastest CAGR between 2023 and 2032.
By type, the cardiovascular segment has held the largest market share of 24% in 2022.
By type, the orthopedic segment is anticipated to grow at a remarkable CAGR of 6.2% between 2023 and 2032.
By channel, the hospitals segment generated over 45% of revenue share in 2022.
By channel, the physician offices segment is expected to expand at the fastest CAGR over the projected period.

The Surgical Procedures Market encompasses a broad spectrum of medical interventions that involve operative techniques to treat various conditions. These procedures range from minimally invasive surgeries to complex interventions, covering a wide array of medical specialties. The market plays a pivotal role in the healthcare industry, constantly evolving with advancements in technology and surgical techniques.

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Drivers:

Technological Advancements: Continuous innovation in surgical tools, equipment, and robotic-assisted surgeries enhances precision, reduces invasiveness, and improves patient outcomes.

Rising Chronic Conditions: The increasing prevalence of chronic diseases necessitates a higher demand for surgical interventions, contributing to the growth of the market.

Aging Population: As the global population ages, there is a surge in surgical procedures related to age-related conditions, driving the demand for various surgical interventions.

Global Healthcare Investments: Growing investments in healthcare infrastructure and facilities worldwide contribute to the expansion of surgical procedures, ensuring better access and quality of surgical care.

Prevalence of Lifestyle-Related Diseases: Unhealthy lifestyles contribute to conditions requiring surgical interventions, such as obesity-related surgeries, fueling the demand for surgical procedures.

Surgical Procedures Market Scope

Report Coverage	Details
Growth Rate from 2023 to 2032	CAGR of 5.50%
Market Size in 2023	USD 3.15 Trillion
Market Size by 2032	USD 5.10 Trillion
Largest Market	North America
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	By Type and By Channel
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

By Type

Gastrointestinal
Cardiovascular
Dental, Cosmetic
Urologic
Ophthalmic
Orthopedic
ENT
Nervous System
Obstetric/Gynecologic

In terms of type, the Surgical Procedures Market exhibits a diverse array of procedures catering to various medical needs. From minimally invasive surgeries, such as laparoscopy and arthroscopy, which offer reduced recovery times and smaller incisions, to traditional open surgeries for complex cases, the market encompasses a wide spectrum of options. Additionally, emerging technologies like robotic-assisted surgeries are gaining traction, promising enhanced precision and control in intricate procedures.

By Channel

Physician Offices
Hospitals
ASCs

Examining the market through the lens of the channel, we observe the crucial distribution and access points that define how these surgical procedures reach patients. Hospitals stand as primary channels, equipped with advanced infrastructure and specialized surgical units. Ambulatory surgical centers provide a more streamlined and outpatient-focused approach, accommodating procedures that don’t necessitate extended hospital stays. Telemedicine and remote surgical solutions also present a growing channel, allowing for consultations and even surgeries to be conducted from a distance, transforming the landscape of surgical care delivery. The dynamic interplay between these channels shapes the accessibility and efficiency of surgical procedures in the ever-evolving healthcare ecosystem.

Reasons to Purchase this Report:

Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
Market size in USD million and volume in million units provided for each segment and sub-segment.
Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.

Recent Developments

In 2022, Medtronic successfully acquired Globus Medical for a sum of $4.9 billion, facilitating Medtronic’s strategic expansion into the burgeoning spinal surgery market by enriching its product portfolio.
In 2022, Stryker finalized the acquisition of Mobius Imaging for $3.4 billion, positioning Stryker as a key player in the rapidly growing market for robotic surgery.
In 2021, Johnson & Johnson strengthened its market presence in heart failure treatment by acquiring Abiomed for $3.6 billion, further solidifying its position in the cardiovascular healthcare sector.