Inpatient Surgeries Will Dominate the Market Over the Coming Years
The US surgical procedures market is projected to reach 127.74 million procedures by 2028 from 108.27 million procedures in 2023, at a CAGR of 3.4% during the forecast period. Growth in the US surgical procedures market is mainly attributed to the rapidly ageing population leading to a higher demand for surgical interventions, the increasing prevalence of chronic diseases, and the advancements in surgical techniques propelled by technological innovations. Conversely, complications associated with surgical procedures, dearth of surgeons and surgical errors are expected to challenge market growth to a certain extent.
Ophthalmic surgical procedures segment is projected to grow at the highest CAGR during the forecast period
Based on type, the US surgical procedures market is segmented into dental, cosmetic, urologic, gastrointestinal, ENT, ophthalmic, obstetric/gynecologic, cardiovascular, orthopedic and other surgical procedures. In 2022, the dental surgical procedures segment accounted for the largest share of this market. The large share can be attributed to the increasing awareness of oral care, increasing prevalence of oral diseases, as well as rising ageing population and the associated teeth loss.
The ophthalmic surgical procedures segment is estimated to grow at the highest CAGR during the forecast period. According to the US CDC, ~12 million people 40 years and over in the US have vision impairment, including three million who have vision impairment after correction, one million who are blind, and eight million who have vision impairment due to uncorrected refractive error. The growth of the segment can be attributed to the prevalence of various ophthalmic disorders such as glaucoma, cataract, and diabetic retinopathy, especially among the geriatric population.
Ambulatory surgery centers segment is estimated to witness fastest growth during the forecast period
Based on channel, the US surgical procedures market is segmented into physician offices, hospitals, and ambulatory surgery centers. The hospitals segment is further bifurcated into inpatient and outpatient surgeries. In 2022, the physician offices segment accounted for the largest share of this market followed by hospitals and ambulatory surgery centers. The ambulatory surgery centers segment is estimated to grow at the highest CAGR during the forecast period. The preference for ASCs has risen due to numerous factors including lower costs than hospital outpatient departments (HOPDs), effective postoperative care, limited hospitalization time, limited risk of disease relapse, and faster patient recovery. A review of commercial medical claims published by the ASCA also reported that healthcare costs in the US were reduced by USD 38 billion each year due to the availability of ASCs as an alternative. The potential for cost reductions, the growing patient population, and the rising demand for better and quicker care among patients is expected to drive growth in ASCs.
Research Coverage
This report studies the US surgical procedures market based on type and channel. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. The report analyzes the US surgical procedures market and aims at estimating the surgical procedures volume and future growth potential of this market based on various segments and sub-segments.
Key Benefits of Buying the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
- Emerging Technology Analysis: Comprehensive information on the lucrative emerging technological advancements in surgical procedures
- Quantitative Analysis: Exhaustive information about number of various types of surgeries performed in the US
Table of Contents
Executive Summary
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 86 |
| Published | June 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value in 2023 | 108.27 Million Procedures |
| Forecasted Market Value by 2028 | 127.74 Million Procedures |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | United States |
