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
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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Key Trends and Developments
Increasing Adoption of Outpatient Surgeries
- Ambulatory Surgery Centers (ASCs): Specialized for procedures not requiring hospital admission.
- Technological Advances: Rise of minimally invasive techniques.
- Value-Based Care: Incentives for high-quality, cost-effective care.
- Cost-Effectiveness: Significant savings for governments, payers, and patients.
2022 Specialties Growth in ASCs:
- Orthopedics
- Cardiology
- Higher Acuity Spine Procedures
Growth Drivers
- Prevalence of Chronic Diseases: Increasing need for surgical interventions.
- Aging Population: More medical procedures required for elderly patients.
- Advancements in Surgical Techniques: Improving efficacy and safety.
- Investment in Health Facilities: Enhanced infrastructure supporting market growth.
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.
