The global ambulatory surgical center market is estimated to be valued at US$ 96.19 billion in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Ambulatory Surgical Centers (ASCs) are healthcare facilities that offer same-day surgical care, including diagnostic and preventive procedures, in an outpatient setting. ASCs provide various advantages such as shorter waiting times, lower costs, reduced risk of infections, personalized care, and convenience for patients. The need for quick and efficient surgical procedures coupled with increasing healthcare expenditure is driving the growth of the ambulatory surgical center market.
B) Market Key Trends:
One key trend in the ambulatory surgical center market is the increasing demand for same-day surgeries. With advancements in medical technology and an emphasis on cost-effective healthcare solutions, there is a growing preference for same-day surgeries among patients. These surgeries offer several benefits such as reduced hospital stays, quicker recovery time, and lower healthcare costs. For example, cataract surgeries, hernia repairs, and dental surgeries are commonly performed in ambulatory surgical centers as same-day procedures.
C) PEST Analysis:
- Political: Government policies and regulations play a crucial role in shaping the ambulatory surgical center market. Regulatory bodies set guidelines and standards for the operation of these centers to ensure patient safety and quality of care.
- Economic: The economic factors influencing the market include healthcare expenditure, insurance coverage, and reimbursement policies. Economic growth and an increase in disposable income also contribute to the market's growth.
- Social: Changing patient preferences towards outpatient care and a focus on patient-centric healthcare services are social factors impacting the market.
- Technological: Technological advancements in surgical techniques, medical devices, and anesthesia delivery systems are driving growth in the ambulatory surgical center market. Minimally invasive surgeries and robotic-assisted procedures are becoming increasingly common.
D) Key Takeaways:
1 - Market size:
The global ambulatory surgical center market is expected to witness high growth, exhibiting a CAGR of 4.2% over the forecast period. This growth can be attributed to increasing demand for same-day surgeries driven by factors such as shorter waiting times, lower costs, and improved patient outcomes.
2 - Regional analysis:
North America is the fastest-growing and dominating region in the ambulatory surgical center market. The presence of well-established healthcare infrastructure, favorable reimbursement policies, and a high prevalence of chronic diseases contribute to the region's growth. However, Asia Pacific is expected to witness significant growth due to the rising healthcare expenditure, increasing awareness about outpatient care services, and improving healthcare infrastructure.
3 - Key players:
Key players operating in the global ambulatory surgical center market are AmSurg Corp., HCA Holdings, Inc., Tenet Healthcare, Surgical Care Affiliates, Inc., Surgery Partners, Ambulatory Surgical Centers of America, Heathway Medical Group, Community Health Systems, Inc., and Vision Group Holdings. These players focus on strategic collaborations, mergers and acquisitions, and technological advancements to strengthen their market position and expand their geographical presence.
In conclusion, the global ambulatory surgical center market is expected to grow significantly due to the increasing demand for same-day surgeries. Factors such as shorter waiting times, lower costs, and advancements in medical technology contribute to the market's growth. North America currently dominates the market, but Asia Pacific is expected to exhibit substantial growth. Key players in the market are focusing on strategic initiatives to enhance their market presence and meet the growing demand for outpatient surgical care.
