Anesthesiology is the medical specialty concerned with the care, pain management, and prevention of disease in patients who are under general anesthesia. Anesthesiologists are involved in perioperative medicine, acute pain management and chronic pain management. Anesthesiology is also known as anesthesia or intensive care medicine.
A combination of population growth and increasing geriatric patient population to drive anesthesiology industry growth.
Population growth will be a key driver of anesthesiology industry growth. The global population is expected to rise by 33%, from 7.7 billion in 2015 to 10.1 billion in 2030. In addition, the world's aging population (aged 65 and over) is projected to increase by more than 400 million people between 2015 and 2030, rising from 1.8 billion to 2.1 billion worldwide during that period. As a result, demand for anesthesiology services will increase globally as well as regionally—particularly in Asia Pacific where most of the elderly reside today—and this demand will likely continue into the future given that life expectancy is increasing globally thanks largely due advances made in healthcare field
Rising patient volume and an aging demographic will spur demand gains.
The growing demand for anesthesiology services will be driven by population growth, rising patient volume and the aging of the population.
New techniques and technologies are expected to make anesthesia safer, more effective, and more accessible.
Anesthesia is the medical specialty that provides relief from pain, as well as unconsciousness, amnesia and other artificial states of absence. These conditions are achieved through a variety of different techniques:
General anesthesia, which renders a patient unconscious for the duration of the procedure
Regional anesthesia; this type of anesthesia generally involves placing anesthetics in or around a specific nerve bundle, such as when numbing a tooth for dental work
Local anesthesia; this type of anesthesia involves applying anesthetic to one area at a time (for example, if you have surgery on your finger)
Growth in the anesthesiologist assistant market is undercutting demand for anesthesiologists.
The anesthesiologist assistant market is growing rapidly, which is leading to a decline in demand for anesthesiologists.
Anesthesiologist assistants are qualified to perform many of the same tasks as anesthesiologists and can be hired at a lower cost. Anesthesiologist assistants also have their own certification process, so they can be trained in remote locations or on-the-job without much additional training. This makes them more flexible than full-time professionals who require specific institutional settings in order to work with patients. These factors make it easier for hospitals and clinics to offer top-notch anesthesia services at lower costs than hiring full-time professionals like anesthetists or nurse anesthetists (CNAs).
The takeaway here is that anesthesiologists will remain heavily in demand over the next decade, but they may have some help from technology. New techniques and technologies are expected to make anesthesia safer and more effective, making it possible for patients to receive care at lower cost points in more locations around the world.
The anesthesia industry is expected to grow at a rate of 3.2% from 2015 to 2030, according to research by Grand View Research. This growth will be fueled by an aging population and rising demand for surgical procedures as well as new technologies that make it safer and more effective.