Ambulatory surgical centers (ASCs) are modern medical facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. ASCs provide cost-effective surgical services for treatments like cataract removal, colonoscopy, orthopedic procedures to improve mobility and quality of life. The growing preference for outpatient procedures and technological advancements in minimally invasive surgeries have boosted the demand for ASCs worldwide.
The global Ambulatory Surgical Center Market is estimated to be valued at US$ 100.3 billion in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing Outpatient Surgeries
One of the key trends propelling the ambulatory surgical center market growth is the rise in outpatient surgeries. As per data, out of all surgeries performed in the U.S., around 75% are now being performed in ambulatory surgical centers. Hospitals are also diverting low-risk elective surgeries to ASCs to manage overcrowding in emergency departments and inpatient units. ASCs offer affordable, high-quality surgical care to patients without requiring an overnight hospital stay. They are specialized centers that focus only on elective surgeries unlike hospitals that cater to both elective and emergency cases. This has made ASCs a highly preferred channel for surgical care.
SWOT Analysis
Strength: Ambulatory Surgical Center (ASC) provides convenient, affordable and high-quality surgical care to patients without requiring an overnight hospital stay. This reduces healthcare costs substantially.
Weakness: ASC are poorly funded compared to hospitals which limits their capabilities to undertake complex surgeries. Lack of in-house 24/7 emergency care is also a drawback.
Opportunity: Growing geriatric population requiring various surgical procedures provide significant growth opportunities. Rising demand for cost-effective healthcare further augments the market potential.
Threats: Difficulty in recruiting and retaining skilled nurses poses challenges. Stringent regulations governing ASC certification also act as a hindrance.
Key Takeaways
The global Ambulatory Surgical Center market is expected to witness high growth.
North America dominates accounting for over 40% share of the global market due to initiatives to reduce healthcare costs, favorable regulations and coverage for ASC services by private insurers. The Asia Pacific region is forecast to grow at the fastest rate during the forecast period supported by improving accessibility to healthcare and increasing medical tourism.
Key players operating in the Ambulatory Surgical Center market are United Surgical Partners International, Surgery Partners, Surgical Care Affiliates, Ambulatory Surgical Centers of America, Healthway Medical Group and Vision Group Holdings. ASC provide significant cost savings for insurers over hospital-based care in terms of lower per-case reimbursement. At the same time it ensures high patient satisfaction levels through prompt and personalized treatment. This makes ASC a preferred choice for various elective surgical procedures.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
