The Ambulatory Surgical Center Market Is Propelled By Growth In Geriatric Population

 

Ambulatory Surgical Center Market

Ambulatory surgical centers (ASCs) provide same-day surgical care, including diagnostic and preventive procedures. ASCs help surgeons perform a variety of procedures in outpatient settings, such as gastroenterology, ophthalmology, orthopedics, and pain management. The ASC model also enables lower facility costs, higher staff and OR utilization, and shorter wait times. The growing geriatric population is increasingly opting for ASCs due to the benefits of same-day surgery and recovery at home.

 

The global Ambulatory Surgical Center Market is estimated to be valued at US$ 96.20 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

The growth in geriatric population has emerged as a key driver of the ASC market. Older patients prefer ASCs for several procedures due to the convenience of same-day services and quick recovery at home. As per United Nations data, the number of people aged 65 years and above is projected to grow from 703 million in 2019 to 1.5 billion in 2050 globally. The faster growth of the elderly population fuels the demand for various outpatient surgical procedures catered by ASCs.

SWOT Analysis

Strength: Ambulatory surgical centers provide cost-effective treatments and procedures. They are convenient for patients as they do not require overnight hospital stay.

Weakness: Ambulatory surgical centers lack specialized emergency facilities and intensive care units that hospitals have. They have limited capabilities to handle complex surgeries.

Opportunity: Rising geriatric population prone to various diseases and growing preference for cost-effective treatments are driving the demand for ambulatory surgical centers.

Threats: Stringent regulations pertaining to facility infrastructure, medical waste disposal may increase operational costs. Competition from hospitals offering daycare surgeries can impact market growth.

 

Key Takeaways

The Global Ambulatory Surgical Center Market Size is expected to witness high growth.

Regional analysis: The North America dominates the global ambulatory surgical center market and is expected to continue its dominance during the forecast period. Rising prevalence of chronic diseases, growing geriatric population undergoing various surgeries, and favorable reimbursement policies are fueling the market growth.

The Asia Pacific is projected to showcase the fastest growth over the forecast period of 2023-2030. Increasing healthcare expenditure, improving medical infrastructure, and rising medical tourism are some key factors driving the Asia Pacific market.

 

Key players operating in the ambulatory surgical center market are Kansai Paint Co., Ltd., Axalta Coating Systems, Kyoei Vietnam Co., ltd, Nippon Paint Holdings Ltd., PPG Industries, Inc., B.L Downey, Dornauer-Grillitsch GmbH, KAPCO Manufacturing Inc., BASF Coatings Gmbh, and DuPont de Nemours, Inc. The major players are focusing on expanding their footprint through acquisitions and by upgrading their service offerings to strengthen their market position.

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The Ambulatory Surgical Center Market Growth Is Accelerated By Rise In Ambulatory Surgical Centers

Ambulatory surgical centers, also known as outpatient surgery centers or same-day surgery centers, provide surgical treatment for patients without requiring overnight hospital stay. They are equipped with state-of-the art facilities to perform several procedures such as cataract removal, colonoscopies, cardiovascular procedures, orthopedic surgeries, dental surgeries and others. The preference for ambulatory surgical centers is growing as they are considered to be more cost effective compared to inpatient hospital stays. The global Ambulatory Surgical Center Market is estimated to be valued at US$ 96.20 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

The growing preference for minimally invasive procedures and rise in number of ambulatory surgical centers are driving the market growth. Ambulatory surgical centers offer convenience to patients through same-day admission and discharge process with minimal postoperative care for minor surgical procedures. Regulatory bodies across various countries are promoting ambulatory care by enforcing stringent guidelines around reducing hospital stays and readmission rates, which has boosted the establishment of new ambulatory surgical centers over the recent past. Better reimbursement policies and acceptance of ASCs by insurance providers are expected to further fuel their demand over the forecast period.

Segment Analysis

The global ambulatory surgical center market is dominated by the single-specialty ambulatory surgical centers segment. Single-specialty ambulatory surgical centers cater specifically to one medical specialty such as ophthalmology, orthopedics, gastroenterology etc. They are highly preferred by specialists as they are well equipped to handle procedures related to a specific specialty. This ensures higher patient volumes and greater specialization for single-specialty centers, allowing them to dominate the ambulatory surgical center market.

 

Key Takeaways

The Global Ambulatory Surgical Center Market Size is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: The North America region currently dominates the global ambulatory surgical center market. This is due to the advanced healthcare infrastructure and growing preference for outpatient surgeries in the US and Canada. Ambulatory surgery centers provide affordable and convenient alternatives to inpatient hospital stays. The numbers of ASCs are increasing rapidly in the region to cater to the growing demand.

 

Key players: Key players operating in the ambulatory surgical center market are Kansai Paint Co., Ltd., Axalta Coating Systems, Kyoei Vietnam Co., ltd, Nippon Paint Holdings Ltd., PPG Industries, Inc. and BASF Coatings Gmbh.


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