TMR predicts that the worldwide market will reach a volume of approximately 2.2 bn procedures by 2023, the end of the forecast period. It stood at about 1.3 bn in 2014 and is expected to exhibit a steady CAGR throughout the forecast duration, i.e. 2015 to 2023. The segment of gynecological surgical procedures is prognosticated to hold a dominant market share by volume, on account of better and more precise prognosis and treatment of disorders and the surging in the spending capacity of individuals on better healthcare.
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Rising Geriatric Populace to Propel Surgical Procedures Market
Surgical techniques, by volume consider a plethora of procedures, for instance, dental, urology, gynecology, ophthalmic, neurosurgery, orthopedic, and cardiovascular, which could be additionally arranged into various classifications. The eventual fate of surgical strategies lies in the headway of technological innovations in the medical field, with respect to minimum invasive methods and application of autonomy in surgical medicines. Directly utilized for gynecological methodology and gall bladder expulsion, single-entry point laparoscopic surgery (SILS) is an exceptionally progressed insignificantly intrusive surgery.
The rising geriatric populace, rising occurrences of perpetual ailments because of rise in inactive way of life, and rising amount of population are the pivotal considerations driving the worldwide surgical systems market volume. The worldwide aged populace is a central point fundamentally because of elderly individuals being very vulnerable to a wide range of chronic ailments. In fact, surge in the population of people aged 65 years or more, additionally influences the market rise directly. As indicated by the World Health Organization (WHO), the worldwide geriatric populace will in all likelihood reach the number of 1.5 billion by 2050. Nations developing swiftly, in terms of population are the US, Japan, and Germany. Different variables driving the surgical procedures market by volume comprehensively incorporate the rising occurrence of interminable medical conditions and the ascent in the quantity of trauma damage cases caused by the expansion in street mishaps all around.
Gynecological Surgical Procedures to Emerge as Leading Segment
While the global market for surgical procedures by volume may be classified by the type of procedures into a number of segments, the significant ones among them being orthopedic procedures, gynecological procedures ophthalmic procedures, neurological, dental and cardiovascular procedures among many more. The gynecological procedures are expected to hold a key role in contributing to the market volume, mostly due to the rising awareness of natal and pre-natal care and changing lifestyles. As reported by a European Commission database, the aggregate number of surgical procedures for cardiac disorders has increased by around 20% between 2005 and 2010.
Geographically speaking, Asia Pacific is foretold to be responsible for the providing impetus to the growth of the international market for surgical procedures by volume. The region is witnessing a surge in the prevalence of cardiovascular ailments, trauma and neurological diseases.