Ambulatory surgical centers (ASCs) perform various surgical procedures like orthopedic surgery, ophthalmology, pain management, etc. which do not require overnight hospital stays. They are an effective alternative to hospital outpatient departments since they provide quality care at lower costs and reduced wait times.
The global Ambulatory Surgical Center Market is estimated to be valued at US$ 115 billion in 2023 and is expected to exhibit a CAGR of 36% 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 has been accelerated by the rise in the number of ASCs. There has been a significant increase in ASCs over the past few years owing to growing preference for outpatient settings among providers and patients. ASCs offer high patient convenience, better control over operational costs, and shorter wait times compared to hospitals. Moreover, ASCs specialize in few selective procedures and hence, provide highly specialized services. This focus allows ASCs to perform surgeries more efficiently at lower costs. The COVID-19 pandemic further boosted the growth of ASCs as many elective surgical procedures shifted from inpatient to outpatient settings to avoid virus exposure in hospitals. The trend of increased utilization of ASCs for surgical care is expected to continue during the forecast period.
Segment Analysis
The Global Ambulatory Surgical Center Market Analysis is divided into ownership segments such as physician only, hospital only, corporate-owned ambulatory surgical centers, and hybrid ambulatory surgical centers. The hospital only segment currently dominates the market due to increasing partnerships between hospitals and ambulatory surgical centers. This allows hospitals to perform low-risk surgeries at ambulatory surgical centers and focus on more complex cases.
Key Takeaways
The global ambulatory surgical center market is expected to witness high growth over the forecast period of 2023 to 2030. The global Ambulatory Surgical Center Market is estimated to be valued at US$ 115 billion in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2030.
North America region currently holds the largest share in the global ambulatory surgical center market mainly due to favorable reimbursement policies and the presence of major players in countries like the US. The Asia Pacific region is expected to grow at the fastest rate during the forecast period driven by economies of scale, increasing medical tourism, and rapidly growing healthcare infrastructure and expenditure across developing countries of the region.
Key players operating in the ambulatory surgical center market are AmSurg Corp., HCA Healthcare Inc., Tenet Healthcare, Surgical Care Affiliates, Surgery Partners, and Medical Facilities. AmSurg Corp. currently holds the largest market share due to its large network of ambulatory surgical centers across the US. HCA Healthcare Inc. is another major player primarily focused on partnering with physicians to establish jointly owned ambulatory surgical centers.
Get more insights on this topic: https://www.trendingwebwire.com/ambulatory-surgical-center-market-size-and-share-analysis-growth-trends-and-forecasts-2023-2030/
