Market Trends of Surgical Headband Industry
Ambulatory Surgical Centers is Expected to Show Lucrative Opportunity in the Surgical Headband Market Over the Forecast Period
Ambulatory surgical centers are expected to witness significant market growth owing to the factors such as the rise in the prevalence of chronic diseases, the rapidly aging population, and the rise in surgery. Since, surgery addresses a broad spectrum of conditions that incur large social, economic, and health burdens, hence it is an indivisible and indispensable part of health systems. According to the article published in December 2021 in PubMed, throughout the past few decades, surgery were increasingly prioritized by the global health community or governments in various countries. As a result, the number of surgical procedures has risen significantly, to address the global disease burden, thus leading to a rise in the utilization and adoption of surgical headbands. For instance, according to the American Cancer Society 2023 Cancer report, around 1,958,310 people in the United States are estimated to be diagnosed with new cancer cases in 2023. This estimation includes 1,010,310 cases of males and 948,000 cases of females. The high burden of cancer is augmenting the demand for surgery and thereby boosting the growth of the studied market over the forecast period.
Moreover, an increase in surgical cases across the globe is likely to drive. For instance, the November 2022 update from the Australian Institute of Health and Welfare (AIHW) showed that there were 623,000 elective surgeries at public hospitals in the 2021/22 financial year. Thus, with the increasing number of surgeries, the surgical headband market is expected to increase in the future.
Therefore, due to the rise in surgery cases and the increase in the utilization of surgical headbands in ambulatory surgical center, the segment studied is expected to witness significant market growth over the forecast period.
North America Anticipated to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share in the studied market throughout the forecast period owing to the factors such as an increase in surgical procedures, a rise in product launches, and a surge in surgery clinic expansions. For instance, as per the ISAPS 2021 survey, the total number of cosmetic procedures conducted in the United States was 7,347,900 in 2021, of which 1,992,296 were surgical procedures. Cosmetic surgical procedures like ear surgery, eyelid surgery, etc, need very precise light settings and the utilization of surgical headbands is likely to increase due to the increase in cosmetic surgery across the country.
Furthermore, increase government initiatives to expand surgical facilities across the region are expected to drive market growth. For instance, in January 2023, the government of Ontario is planning to perform thousands more surgeries in private facilities in an effort to tackle the growing backlog. The first phase will focus on the expansion of cataract surgeries, followed by a second phase that expands into low-complex orthopedic surgeries like knee and hip replacements as well as diagnostic tests. Hence, such developments are expected to increase the utilization of surgical headbands across the region and thereby fueling the market growth.
Hence, with the increase in surgery cases and the surge in the utilization of surgical headbands in hospitals and clinics, North America is expected to witness significant market growth over the forecast period.
