The Ambulatory Surgical Center Market Growth Accelerated By Increased Demand For Outpatient Procedures

 

Ambulatory surgical centers market

Ambulatory surgical centers (ASCs) provide an excellent alternative to hospital-based outpatient procedures by offering a convenient and affordable setting for surgical care. ASCs have specialized staff and state-of-the-art equipment and facilities to perform lower-risk outpatient procedures such as cataract removal, colonoscopy screening, orthopedic procedures, and pain management injections. The global Ambulatory Surgical Center Market is estimated to be valued at US$ 96.19 Bn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

 

The growth of the Ambulatory Surgical Center Market is primarily driven by the increasing demand for cost-effective outpatient surgical procedures. ASCs allow healthcare providers to perform surgical procedures in an outpatient setting more efficiently at a lower cost compared to hospital-based outpatient departments. This cost advantage along with competitive pricing by ASCs is encouraging patients to opt for surgeries at ASCs over traditional hospital settings. Additionally, minimally invasive procedures that were traditionally performed through multi-day hospitalizations can now be performed safely on an outpatient basis at ASCs, thanks to technological advancements. The increasing demand for such minimally invasive procedures is expected to accelerate the market growth over the forecast period. The growing preference for convenient healthcare services with minimized hospital stays is a major factor augmenting the adoption of ASCs.

 

Segment Analysis

 

The ambulatory surgical center market is dominated by single specialty surgical centers that cater to orthopedic surgeries. Orthopedic procedures such as knee and hip replacement surgeries that require shorter hospital stays are increasingly being performed in ambulatory surgical centers. This segment holds the largest share as many such surgeries can be performed safely on an outpatient basis in ASCs.

 

Key Takeaways

 

The Global Ambulatory Surgical Center Market Growth is expected to witness high growth over the forecast period owing to factors such as growing geriatric population suffering from chronic diseases, rising obese population undergoing bariatric surgeries and increasing preference for outpatient surgeries.

 

Regional analysis: North America currently dominates the market and is expected to continue its dominance over the forecast period. This is attributed to the acceptance of advanced medical technologies, greater preference for minimally invasive procedures and favorable reimbursement coverage in countries such as the US and Canada. Asia Pacific is poised to be the fastest growing region supported by growing medical tourism, increasing healthcare expenditure and rising incidence of chronic diseases.

 

Key players: Key players operating in the ambulatory surgical center market include AmSurg Corp., HCA Holdings, Inc., Tenet Healthcare, Surgical Care Affiliates, Inc., Surgery Partners, and Ambulatory Surgical Centers of America. These players are focusing on mergers and acquisitions to expand their service offerings and geographic presence. For instance, in 2021, United Surgical Partners International acquired EmCare to become one of the largest players in the emergency medicine services market in the US.
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