Surgical Procedures Market to Grow at 3.1% CAGR by 2030
The rising adoption of ambulatory services, also known as outpatient care, that provide various facilities such as emergency visits and rehabilitation visits drives the growth of the market.
According to a new research report by Next Move Strategy Consulting, the Surgical Procedures Market size was 294,237 thousand units in 2022, and is predicted to reach 372,837 thousand units by 2030, with a CAGR of 3.1% during the forecast period, 2023–2030.
The rising adoption of ambulatory services has contributed to the growth of the surgical procedures market. The use of robotics in ambulatory services is growing. The assistance from robots enables doctors to perform various kinds of complex procedures with improved precision, enhanced flexibility, and better control as compared to open surgery. For instance, in March 2022, CMR Surgical (CMR) announced the launch of the Versius Surgical Robotic System, which was installed in an outpatient surgical practice for the first time in Europe for hernia surgery.
On the contrary, regulatory approvals are necessary for new surgical procedures and medical devices. The approval process can be time-consuming, expensive, and challenging, especially for new entrants to the market. This, in turn, hampers the growth of the market. However, the introduction of augmented reality (AR) and virtual reality (VR) technologies is expected to create growth opportunities for the market in the future.
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Key insights from the surgical procedures market report:
The information related to key drivers, restraints, and opportunities and their impact on the surgical procedures market is provided in the report.
The value chain analysis in the market study provides a clear picture of the stakeholders’ roles.