Global Economic Burden Due to Surgical Errors to Surpass $150 Billion by 2029

Surgical errors or surgical malpractice is one of the foremost concerns of several countries such as the U.S., Germany, France, Japan, and China, which are well-known for their technologically advanced and efficient healthcare systems. The global economic burden due to surgical errors in 2018 was acknowledged to be $98.66 billion. Owing to the significant growth in the incidence of surgical errors across the globe, the global economic burden witnessed a compound annual growth rate of 6.35% in the past ten years (2008–2018). Astonishingly, the U.S is the leading contributor to the global economic burden due to surgical errors. Presently, one in every 16 surgical procedures in the U.S. is acknowledged to be a case pertaining to surgical errors. The scenario gets further bewildering if the statistics associated with other developed countries, such as Germany, France, the U.K., Japan, and China, comes into focus. The countries together contributed to 23.10% of the global economic burden in 2018. Surgical robots were launched with a motive to enhance the outcome of surgical procedures and reduce the scope for surgical errors. However, the clinical incorporation of surgical robots without optimal training can further elevate the scope for surgical errors.

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Conceding the growth in the incidences of surgical errors in the past ten years (2008–2018), the number of incidence of surgical errors is anticipated to reach devastating 10.55 million by 2029. The associated economic burden is expected to reach distressing $161.29 billion by 2029. The regulatory bodies accompanied by companies providing novel technologies need to act maliciously to tackle the enormity of the burden due to surgical errors.

What’s the Solution?

The recent advancements in computational technologies augmented by the immeasurable accumulation of knowledge associated with the functioning of the human body have made disruptive technologies, such as VR surgical simulation systems, a reality. The incorporation of VR simulation systems in clinical education would aid surgeons, explicitly novices, to acquire best-in-class skills such as hand-eye coordination and ambidextrous surgical skills, which are quite challenging to achieve with traditional practices of surgical education. Hence, the enhanced surgical skills aided by the development of type-specific clinical competencies will substantially reduce the scope of surgical malpractices.

To know more about developments associated with training programs and simulator technologies, please visit our webinar on ‘Robotics Simulators: An Emerging Frontier in the Era of Healthcare Robotics’, on Wednesday 17th July 2019 at 1.30 PM PDT–2.00 PM PDT, with guest speaker Mr. Jeffrey Berkley, CEO, Chairman, and Founder Mimic Technologies, Inc.

Attendees’ Take Home

Live Q&A with Guest Speaker

Free Whitepaper titled “Virtual Reality Surgical Simulation Systems: Solution to Growing Surgical Malpractices

Register at https://zoom.us/webinar/register/4515620314487/WN_jyQlaXB0R-WbKVklyzzQSA

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BIS Research offers exclusive market intelligence reports on disruptive technologies. Each year we publish over 200 titles across industry verticals.

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