By 2023, the global surgical procedures volume market is expected to reach 2.2 billion procedures annually, growing at a 5.6 percent compound annual growth rate, according to WhaTech.
Here are five points:
1. In 2014, the global surgical procedures volume market stood at 1.3 billion procedures performed that year.
2. The number of procedures performed annually increased due to technological advances and more options for minimally invasive surgery, a great geriatric population, individuals seeking longer active lifestyles and surgeons being trained in surgery versus conservative treatment, according to the report.
3. Within the U.S., outpatient surgery has caused a greater demand in the number of procedures performed annually.
4. Orthopedic surgery, neurosurgery, ophthalmic surgery and gynecology are causing the greatest increase in volume for the global market.
5. Also, there is an increase in patients seeking out refractive surgery due to developing technologies in surgery options. Each year, the U.S. spends $15 billion on refractive error surgeries.