Ambulatory surgical centers (ASCs) are modern healthcare facilities that provide same-day surgical care, including diagnostic and preventive procedures. ASCs handle procedures that do not require overnight hospital stays allowing people to enter surgeries and be discharged on the same day. With state-of-art equipment and trained medical staff, ASCs offer a affordable alternative to hospital-based outpatient procedures. The rising volume of surgical procedures performed in the outpatient setting along with better infrastructure and superior patient services have propelled the growth of ASCs worldwide.
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 Dynamics
Rising geriatric population is one the primary drivers of the global ambulatory surgical center market. Older population is more prone to chronic diseases and injuries which often requires surgical treatment. As per WHO, number of people aged 65 years and above is projected to reach 1.5 billion by 2050 from present 703 million in 2019. Also, ASCs offer enhanced patient comfort and personalized services like flexible appointment hours and reduced wait times which have boosted their preference among aging population undergoing treatments. Moreover, substantial cost savings associated with ASC located procedures when compared with hospital-based facilities has encouraged both private and public health insurers to direct more patients towards these centers. This remains another key factor fueling the demand for ambulatory surgical centers especially in developing regions.
SWOT Analysis
Strength: Ambulatory surgical centers offer outpatient procedures at lower costs compared to hospitals. They provide specialized and focused care to patients undergoing low-risk surgical procedures. Their streamlined processes allow for shorter wait times and better patient experiences.
Weakness: Ambulatory surgical centers have limited medical resources and specialized equipment compared to hospitals. They cannot handle complex or emergency cases requiring intensive pre-operative or post-operative care.
Opportunity: Growing demand for cost-effective outpatient surgeries driven by rising healthcare costs and greater focus on convenient care. Increasing popularity of minimally invasive treatments is also expanding the scope of procedures performed in ambulatory centers.
Threats: Potential restrictions or regulations imposed on ambulatory centers that could increase operating costs. Shortage of skilled medical staff also poses challenges for centers to scale up operations and handle service demand.
Key Takeaways
The Global Ambulatory Surgical Center Market Growth 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. The global ambulatory surgical center market is expected to witness high growth.
Regional analysis related content comprises the North American region currently dominates the market and is expected to maintain its leading position over the forecast period. Factors such as the increasing prevalence of chronic diseases, rising geriatric population, and growing need to reduce healthcare costs are fueling the growth of ambulatory surgical centers in the region.
Key players:
Key players operating in the 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 are focusing on adopting organic and inorganic growth strategies such as mergers & acquisitions and new service launches to expand their presence and drive revenues.
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