Report Overview

United States Surgical Procedures Market - Industry Trends & Forecast Report 2028

United States Surgical Procedures Market is predicted to grow at a CAGR of 5.4% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to the rising prevalence of cancer, an increase in chronic diseases, greater investment in health facilities, technical developments in surgical procedures, and an increase in the geriatric population. Moreover, advances in surgical, anesthetic, and intensive care techniques have led to a greater proportion of the growing older population undergoing surgical procedures, driving the expansion of the US surgical procedures market. Furthermore, patients may require more surgical treatments over their lifetime as the US population ages and the prevalence of chronic disease rises. The growing life expectancy of the US population is increasing the demand for surgical treatments.

Surgical Procedure - Overview

A surgical procedure, operation, or simply "surgery" refers to the act of doing surgery. The surgeon, the surgeon's assistant, an anesthetic, a circulating nurse, and a surgical technician comprise a surgical team. Surgery normally lasts from minutes to hours, although it is not a continuous or periodic treatment. Surgery is an intrusive method that involves the physical intervention of organs/organ systems/tissues for diagnostic or therapeutic purposes. Moreover, in general, a surgical procedure involves the cutting of a person's tissues or the closure of a previously incurred wound. Other procedures, such as angioplasty or endoscopy, that do not necessarily fall under this category may be considered surgery if they involve "common" surgical procedures or settings, such as the use of a sterile environment, anesthesia, antiseptic conditions, standard surgical instruments, and suturing or stapling. Invasive operations include all types of surgery; "noninvasive surgery" usually refers to an excision that does not enter the structure being excised (e.g., laser ablation of the cornea) or a radio surgical method (e.g. irradiation of a tumor).

United States Surgical Procedures Market Forecast and Trends

Growth Drivers

Growing Grey Population in the United States

As chronic diseases are widespread in the elderly, the increase in the geriatric population has been identified as a primary factor driving the growth of the surgical operations volume market. The ever-expanding population over the age of 65 is expected to drive market growth. According to the United States Census Bureau, adults over the age of 65 account for around 13% of the overall population, with this figure expected to rise to 20% by 2030. According to the World Health Organization (WHO), the worldwide geriatric population will reach 1.5 billion by 2050. The United States has a large grey population. The rise in the number of trauma injury cases is another factor driving the surgical operations volume market.

Rising Prevalence of Cancer drives Surgical Procedures Demand

In countries of all financial levels, surgery is a fundamental method for the curative and palliative treatment of most malignancies. In high-income countries (HICs) such as the United States, where the most prevalent solid organ malignant tumors, such as breast and colon cancers, are more likely to be discovered early, surgical resection enables definitive locoregional control of the underlying tumor. This method has high therapeutic potential when paired with carefully chosen adjuvant systemic treatment and radiation. An anticipated 1.9 million new cancer cases will be identified in the United States in 2021, with 608,570 people dying from the disease, up from 1.8 million new cancer cases and 606,520 cancer deaths in 2020. (Source: American Cancer Society). Breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, bladder cancer, and kidney and renal pelvis cancer are the most prevalent cancers. Prostate, lung, and colorectal cancers are expected to account for 43% of all malignancies diagnosed in males in 2020. Breast, lung, and colorectal cancers are the three most frequent malignancies in women, accounting for an anticipated 50% of all new cancer diagnoses in women in 2020. (Source: National Cancer Institute). In the case of solid tumors that are contained in one place, surgery to remove malignant tissue is the primary therapeutic option.

Rising Initiatives by U.S. Government

The U.S. government is taking steps to ensure proper reimbursement and is considering the role of ASCs as a crucial component of healthcare, which is promoting market expansion. For instance, the CMS changed the requirements for Medicare reimbursement eligibility in January 2022, allowing reimbursement for outpatient services by removing the requirement for a mandatory inpatient procedure at ambulatory surgery centers. Healthcare settings like ambulatory surgery facilities are very controlled. The Ambulatory Surgery Center Association oversees their regulation. Ambulatory surgery center laws differ from state to state. A report by the American College of Foot and Ankle Surgeons states that 28 of the 46 states require third-party accreditation for ambulatory surgery centers, with each state having its eligibility requirements. In 25 states, an ASC certificate of need is needed to prove the necessity of new services and construction. Ambulatory surgery centers are operated according to state regulations.

Restraints

Lack of Skilled Surgeons

The number of elderly people is increasing, which puts more strain on the healthcare system. Compared to their younger counterparts, older people need more medical services and attention. There will be a rise in the demand for surgeons and perioperative workers skilled in geriatric care. In nine out of ten surgical specialties, there are already shortages in the US, with orthopedic surgery, general surgery, and urology having the greatest shortages of surgeons for major surgery specialties. According to a 2019 assessment from the Association of American Medical Colleges (AAMC), the US would experience a shortfall of 23,000 surgeons in 2032 and 28,700 by 2033. This range of projected shortfalls is based on a model that takes into account population projections, demand and supply projections, estimates of physician specialty preference, recently revised federal health professional shortage area designations for primary care and mental health, and lower projections of future insurance coverage expansion. The US population's aging demographics and the fact that more than two out of every five currently practicing physicians will be 65 or older in the next ten years make more healthcare personnel necessary. The population is expected to increase by 10.6% between 2019 and 2031, with a 42.4% increase in the number of those 65 and older.

Impact of COVID-19 on United States Surgical Procedures Market

The increased pressure from the increasing rate of hospitalization of COVID-19 patients resulted in the re-profiling of several hospitals and departments for treating COVID-19 patients. Because of the reallocation of intensive care resources, the provision of cardiac procedures has been disproportionately impacted. According to a thorough examination of a Society of Thoracic Surgeons (STS) database, cardiac surgery volumes in the United States dropped by more than half during the first wave of the COVID-19 epidemic. Cardiac surgery services have been structurally remodeled into a consolidated system to continue emergency surgery provision alongside hospital management of COVID-19 patients. Although these techniques have aided in the focused management of COVID-19 patients, it is vital to consider the long-term repercussions of postponing elective heart surgery. Cardiovascular problems patients frequently experience deteriorating health.

United States Surgical Procedures Market - By Type

Based on the type, the United States Surgical Procedures Market is segmented into Gastrointestinal, Cardiovascular, Dental, Cosmetics, Urologic, Ophthalmic, ENT, Gynaecologic, Orthopaedic, and Surgical Procedures. Among these, the cardiovascular segment accounts for the largest share in the United States Surgical Procedures Market. By concentrating on advancements in heart transplantation, cardiac rhythm management device implantations, and interventional cardiology procedures, companies in the surgical procedures volume market are developing steady revenue sources in the cardiovascular (CVD) segment. The use of cardiac catheterization in structural heart disease has increased as a result of the development of interventional cardiology procedures. All these factors propel the growth of the United States Surgical Procedures Market during a forecast period (2022-2028).

United States Surgical Procedures Market – By Distribution Channel

Based on the distribution channel, the United States Surgical Procedures Market is segmented into Physician Offices, Hospitals (Inpatient and Outpatient), and ASC. Among these, the physician offices segment holds the largest market share. The increasing number of minimally invasive surgeries and the high number of surgeries performed in physician offices, such as dental treatments, upper endoscopy, colonoscopy, rhinoplasty, mammoplasty, lithotripsy, or vascular access-related procedures, account for the majority of this sector. During the projected period, the ASC (ambulatory surgery center) segment is expected to increase at the fastest CAGR. This segment's highest CAGR might be attributable to the possibility of cost savings and the growing desire among patients for better and faster care.

Competitive Landscape

The leading market players in the United States Surgical Procedures Market are AMSURG, T.H.Medical, Surgery Partners, SurgCenter, Surgical Care Affiliates, HCA Healthcare, Physicians Endoscopy, Covenant Physician Partners Inc, Constitution Surgery Alliance, ASD Management, and Medical Facilities Corporation.

The United States Surgical Procedures Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

• T.H Medical announced plans to acquire up to 25 to 40 surgery centers in 2021. The company plans to spend an estimated USD 150 million on the acquisition of these surgery centers.

Scope of the Report

By Type

• Gastrointestinal
• Cardiovascular
• Dental
• Cosmetics
• Urologic
• Ophthalmic
• ENT
• Gynaecologic
• Orthopedic
• Surgical Procedures

By Distribution Channel

• Physician Offices
• Hospitals

1. Inpatient
2. Outpatient

• ASC

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary and Secondary Products
   2. Quantitative Research
      1. Primary and Secondary Products
   3. Breakdown of Primary Research Respondents
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Industry Participants
   5. Market Breakdown & Data Triangulation
3. Executive Summary
4. United States Surgical Procedures Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Porter’s Five Forces Analysis
      1. Bargaining End-use Industry of Suppliers
      2. Bargaining End-use Industry of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
   4. Recent Development
   5. PESTEL Analysis
5. United States Surgical Procedures Market Overview
   1. Market Size & Forecast by Value, 2018-2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. 1. By Type
         2. Gastrointestinal
         3. Cardiovascular
         4. Dental
         5. Cosmetics
         6. Urologic
         7. Ophthalmic
         8. ENT
         9. Gynecologic
         10. Orthopedic
         11. Surgical Procedures
      2. By Distribution Channel
         1. Physician Offices
         2. Hospitals
            1. Inpatient
            2. Outpatient
         3. ASC
6. Competitive Landscape
   1. List of Key Players and their Offerings
   2. Company Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Covid-19 Across United States Surgical Procedures Market
8. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
   1. AMSURG
   2. T.H.Medical
   3. Surgery Partners
   4. SurgCenter
   5. Surgical Care Affiliates
   6. HCA Healthcare
   7. Physicians Endoscopy
   8. Covenant Physician Partners Inc
   9. Constitution Surgery Alliance
   10. ASD Management
   11. Medical Facilities Corporation
9. Key Strategic Recommendations

Note: Financial in information in case of non-listed companies will be provided as per availability

The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1        United States Surgical Procedures Segmentation

Figure 2        United States Surgical Procedures Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        United States Surgical Procedures Market Size, By Value (USD Million), 2018-2028

Figure 5        United States Surgical Procedures Market Share, By Type, By Value, 2018-2028

Figure 6        United States Surgical Procedures Market Share, By Distribution Channel, By Value, 2018-2028

List of Tables

Table 1         United States Surgical Procedures Market Size, By Type, By Value, 2018-2028

Table 2         United States Surgical Procedures Market Size, By Distribution Channel, By Value, 2018-2028                                                                     

Table 3         AMSURG Company Overview                                      

Table 4         AMSURG Financial Overview                             

Table 5         T.H.Medical Company Overview                                           

Table 6         T.H.Medical Financial Overview                                            

Table 7         Surgery Partners Company Overview                                             

Table 8          Surgery Partners Financial Overview                                              

Table 9         SurgCenter Company Overview                                  

Table 10        SurgCenter Financial Overview                                   

Table 11        Surgical Care Affiliates Company Overview                                      

Table 12        Surgical Care Affiliates Financial Overview                                       

Table 13        HCA Healthcare Company Overview                            

Table 14        HCA Healthcare Financial Overview                                      

Table 15        Physicians Endoscopy Company Overview 

Table 16        Physicians Endoscopy Financial Overview                              

Table 17        Covenant Physician Partners Inc Company Overview                                   

Table 18        Covenant Physician Partners Inc Financial Overview                

Table 19        Constitution Surgery Alliance Company Overview                                       

Table 20        Constitution Surgery Alliance Financial Overview

Table 21        ASD Management Company Overview                                            

Table 22        ASD Management Financial Overview       

Table 23        Medical Facilities Corporation Company Overview                                       

Table 24        Medical Facilities Corporation Financial Overview