Surgical Specialties - Growth Rates

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.

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).

Proposed next steps:

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