Surgery has proven to be beneficial in several cases, from reducing child mortality to improving maternal health and reducing the incidence of numerous health complications. In certain cases such as major road accidents, domestic violence, burns, pregnancy related issues and congenital defects; surgery has often proven to be the only option available for treatment.
Several studies that have been done on surgery and global healthcare have thrown up very insightful results. Take for example the study done on the issue of cataract related blindness. Surgery is the only option to treat cataract. However, because of the high cost related to cataract surgery, many people in poorer countries have no option but to accept their fate and resign themselves to eventual blindness. The repercussions of this are manifold. It turns the breadwinners of families into dependents who deplete the family’s meagre resources, impoverishing families even more. Simply making cataract surgery more affordable could make a significant difference. Studies have shown that improvement in the state of surgical affairs in a country would not only help reduce a variety of diseases and illnesses suffered by people but it would also help them to be more productive and help in the development of the nation as a whole.
Even though organisations worldwide are acknowledging the importance of surgical procedures, there is still a long way to go to ensure that basic and necessary surgery is being provided to everyone, including developing countries and lower income groups around the world. In fact, there are still a huge number of undone surgeries and the list keeps piling up.
The Bellagio Essential Surgery Group encourages a partnership between public health sector groups and surgeons from various specialisations and asks them to come up with cost-effective treatment plans and hospital services for resource poor communities.
The WHO (World Health Organisation) has launched the Global Initiative for Emergency and Essential Surgical Care which is aimed at boosting emergency surgical care in order to try to reduce the number of deaths and trauma caused by accidents, pregnancy related complications, burns and acts of violence. They have also set out to try and identify various fields of medicine where surgery is essential and look for cost-effective operations in order to reduce health problems.
The global general surgery devices market size is expected to reach USD 26.5 billion by 2026 registering a CAGR of 8.5%, according to a new report by Grand View Research, Inc. Increasing number of surgical procedures being performed coupled with technological advancements is anticipated to drive the market. Moreover, rising awareness and patient affordability for plastic or reconstructive surgeries would propel the number of procedures conducted during the forecast period.
Global health initiatives for the advanced surgical procedure is expected to boost the market. In January 2017, Ethiopia Federal Ministry of Health (FMOH) launched the Health Sector Transformation Plan (HSTP) and Safe Surgery (SaLTS) program that prioritizes safe surgery and makes anesthesia care and emergency surgical services accessible and affordable.
Technological advancements are also contributing to the market growth. Several key companies are investing in R&D for the development of innovative products. For instance, development of medical robots to assist surgeons is a key advancement in the field. Medical robots offer several advantages, such as a 3D view of the operating field, reduced blood loss & transfusions, lower risk of infection, faster recovery time, minimal scarring, and high precision.
Furthermore, growing aging population and cases of road accidents and increased healthcare expenditure in emerging economies are likely to boost the market during the forecast period. According to the WHO, the world’s population aged 60 years and above is expected to reach 2 billion by 2050 from 900 million in 2015. Geriatric population is more susceptible to a number of diseases, which is likely to increase the need for effective treatments, thereby driving the market.