Ambulatory surgical centers are modern healthcare facilities catering to outpatient surgeries and procedures. They offer world-class surgical services in a comfortable environment without requiring overnight hospital stays. Common procedures performed in ASCs include cataract removal, colonoscopy, orthopedic surgeries, and pain management injections. Increasing preference for convenience and personalized care over crowded hospital settings has boosted ASC adoption rates in recent years.
The global Ambulatory Surgical Center Market is estimated to be valued at US$ 210 billion in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth in ambulatory surgical centers is the continuous rise in healthcare costs, particularly in the U.S. Hospitals charges for common outpatient procedures are significantly higher when compared to ASCs. For instance, the average facility fee charged by hospitals for cataract surgery is around $5,000 whereas ASCs offer the same procedure at about $3,000. With health insurance deductibles and co-payments steadily increasing, more patients are choosing cost-effective ASCs to avoid steep medical bills. Additionally, ASCs allow healthcare providers to perform high-volume routine surgeries at lower costs compared to hospitals. This has encouraged both public and private insurance firms to cover more procedures in ASCs, further fueling their market expansion.
Porter's Analysis
Threat of new entrants: New entrants face significant start up capital requirement. Existing players have established brand names and distribution networks.
Bargaining power of buyers: Buyers have limited bargaining power due to the specialized nature of surgical procedures conducted at ASCs.
Bargaining power of suppliers: Suppliers have moderate bargaining power owing to high dependence of ASCs on medical devices companies for supply of key equipment.
Threat of new substitutes: Limited threat of substitution given specialized nature and convenience of procedures at ASCs.
Competitive rivalry: Intense competition among existing players to gain market share and benefit from economies of scale.
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: North America leads the global ASC market with the largest number of procedures conducted in outpatient settings. The popularity of ASCs is increasing in Asia Pacific as well with growth in medical tourism and focus on reducing healthcare costs.
Key players: Key players operating in the Ambulatory Surgical Center market include AmSurg, HCA Healthcare, Tenet, Surgical Care Affiliates, Surgery Partners, Hospital Corporation of America, and Envision Healthcare.
For more Insights, Read –
https://www.marketwebjournal.com/ambulatory-surgical-centers-market-market-size-and-share-analysis/
Ambulatory Surgical Centers Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the ambulatory surgical centers market include AmSurg, United Surgical Partners, Surgery Partners, Surgical Care Affiliates, Envision Healthcare Holdings, Mednax, Team Health Holdings, Tenet Healthcare, SurgCenter Development, and Suprabha Surgicare.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Ambulatory Surgical Centers Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/ambulatory-surgical-centers-market/download-sampleMarket DynamicsThe rise in the number of surgeries, the growing burden of chronic diseases, and expanding geriatric population drive the global ambulatory surgical centers market.
ASCs have revolutionized the outpatient experience for millions of patients by offering them a more convenient alternative to hospital-based outpatient procedures with a strong track on quality care and favorable patient outcomes.
However, high deployment costs and reluctance among end-users to adopt new practices restrain the global market growth to a certain extent during the forecast period.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
According to the new market research report ” Ambulatory Surgical Centers Market by Product (EHR, Practice Management, Telehealth, Healthcare Analytics, PHM, Supply Chain Management, RCM, Surgical planning, Quality Management), Specialty Type (Single, Multi-specialty) – Global Forecast to 2025″, published by MarketsandMarkets™, the Ambulatory surgical centers market is projected to reach USD 7.2 billion by 2025 from 2.1 billion in 2020, at a CAGR of 27.6% during the forecast periodMarket growth can be attributed to the growing need to curtail escalating healthcare costs, shift from inpatient to outpatient surgical procedures, and growing demand for IT solutions such as mhealth, telehealth, and remote patient monitoring for better management.
However, high deployment costs and reluctance among end users to adopt new methods are expected to restrain the overall market growth to a certain extent during the forecast period.Browse in-depth TOC on “Ambulatory Surgical Centers Market”112 – Tables36 – Figures176 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=182183086Based on products and services, the Ambulatory surgical centers market is segmented into clinical solutions, non-clinical solutions, and HCIT outsourcing services.
In 2019, the clinical solutions segment accounted for the largest share of the Ambulatory surgical centers market.
The need to control the increasing healthcare costs and improve the efficiency of healthcare services by reducing medical errors are a major driver that propels the demand for healthcare provider solutions.Based on components, the Ambulatory surgical centers market is segmented into services, software, and hardware.
The services segment accounted for the largest market share in 2019.
This is due to the introduction of complex software, the need for integration and interoperability of software, the growing demand for consulting and outsourcing of various healthcare processes such as revenue cycle management, EHR management, and fraud detection.Based on specialty, the Ambulatory surgical centers market is segmented into single and multi-specialty.
