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Research Outline
Prepared for Vinod M. | Delivered March 20, 2020
Surgical Specialties - Growth Rates
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Goals
To determine the growth rates for the following surgical specialties: electrophysiology, spine surgery, orthopedic surgery, plastic surgery, gynecology surgery, oncology surgery, breast surgery, and open abdominal wall reconstruction surgery.
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Early Findings
The recent technological advancement in the field of electrophysiology, such as
live 3-D mapping
and location, is expected to drive the growth in this industry.
The global demand for electrophysiology procedures is expected to expand at a compound annual growth rate of
4.6 percent
between 2018 and 2023.
According to BusinessWire, spine surgery is one of the
fastest-growing
surgical procedures in the world. The number of spine surgery procedures is expected to grow at a rate of
7.9 percent
per annum between 2017 and 2022.
In addition, the
less invasive segment
of the spine surgery market is expected to show a similar growth rate and expand at an annual compound rate of
7.57 percent
. The spine surgery devices market, on the other hand, is projected to grow at a modest
3.15 percent
per annum between 2016 and 2024.
The orthopedic surgery market is also a
fast-growing market
. According to ResearchAndMarkets, the number of orthopedic surgery procedures is projected to grow at a compound annual rate of
4.9 percent
between 2017 and 2022.
The global market size for plastic surgeries is expected to grow at a CAGR of
5.82 percent
between 2019 to 2026. However, the rate is much lower in the US, where the rate of plastic surgery is growing at around
2 percent
per annum.
The top growing sub segments of the plastic surgery market include liposuction (
5 percent
), breast augmentation (
4 percent
), and eyelid surgery (
2 percent
).
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