|Last Quarterly Update:||2/20/2017|
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Practitioners in this industry use surgical techniques to diagnose, treat, and manage diseases and disorders. No major companies dominate the industry.
An estimated 1.1 million surgeons worldwide perform more than 300 million major procedures each year, according to the World Health Organization. Low-income countries have less than 1 surgical professional per 100,000 people, compared with about 57 surgeons per 100,000 people in high-income countries.
The US industry includes about 25,000 general surgeons, according to the Centers for Disease Control and Prevention/National Center for Health Statistics.
Demand is driven primarily by population growth and rates of critical illness and injury. The profitability of individual practices depends mainly on expertise and reputation. Larger practices may enjoy economies of scale in administration and equipment purchasing. Smaller practices can compete successfully by specializing.
In local markets, surgeons primarily compete with one another. Medical tourism is a fast-growing competitive threat: because surgery costs are high, patients are increasingly traveling to foreign countries for procedures that cost a fraction of US prices.
PRODUCTS, OPERATIONS & TECHNOLOGY
A general surgeon can provide care for a broad spectrum of conditions affecting most areas of the body. Surgeons perform operations, consult with patients on preventive care, and conduct diagnostic tests. General surgeons conduct vascular, pediatric, trauma, digestive, abdominal, glandular, dermal, and soft tissue surgeries, as well as organ transplants and oncology procedures, and may specialize in a certain field. Common problems treated by general surgeons ...
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