Ambulatory surgical centers (ASCs) are modern medical facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. ASCs provide a cost-effective alternative to hospital-based outpatient procedures as they offer surgical treatments without an overnight hospital stay. Common outpatient procedures performed at ASCs include cataract surgery, colonoscopy, endoscopy, orthopedic procedures and pain management treatments. The rise in chronic health conditions such as cardiovascular diseases, cancer, respiratory diseases and diabetes has accelerated the demand for minimally invasive surgical treatments which can be provided effectively in an ambulatory setting. With advancing medical technology, more complex procedures are now being performed in ASCs, allowing patients to recover in the comfort of their homes rather than occupying an expensive hospital bed.
The global Ambulatory Surgical Center Market is estimated to be valued at US$ 91.8 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:
There has been a significant rise in the number of ASCs in the US over the past decade driven by various factors. ASCs offer significant cost savings compared to hospital-based outpatient facilities and hence are increasingly becoming the preferred setting for many elective surgeries. Large healthcare providers are consolidating and acquiring ASCs to expand access and streamline outpatient services. Technological advancements are enhancing the complexity of procedures that can be performed on an outpatient basis. Artificial intelligence and robotic platforms are allowing minimally invasive ASC treatments with better accuracy and improved recovery times. However, factors such as the coronavirus pandemic outbreak, shortage of healthcare professionals and regulatory challenges continue to hinder the market growth to some extent.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the ambulatory surgical center market is moderate. High initial investments and regulatory compliances act as entry barriers. However, the growing demand for cost-effective surgeries reduces the threat over time.
Bargaining power of buyers: The bargaining power of buyers in the ambulatory surgical center market is high. Buyers can easily switch between service providers based on quality and cost.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of medical devices, pharmaceuticals, and other supplies have some control over pricing and supply.
Threat of new substitutes: The threat of new substitutes is low. There are limited substitutes for ambulatory surgical centers that can provide same day surgeries.
Competitive rivalry: The competitive rivalry in the ambulatory surgical center market is high due to the presence of numerous regional and international players.
Key Takeaways
The Global Ambulatory Surgical Center Market Size is expected to witness high over the forecast period due to the increasing demand for cost-effective day surgeries. The global Ambulatory Surgical Center Market is estimated to be valued at US$ 91.8 billion in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the market and is expected to continue its dominance over the forecast period. This is attributed to the growing geriatric population, increasing volume of surgeries, favorable reimbursement policies, and presence of key players in the region.
Key players: Key players operating in the ambulatory surgical center market are Envision Healthcare Corporation, Tenet Healthcare, AmSurg Corp., Surgical Care Affiliates, Surgery Partners, HCA Healthcare, and Terveystalo Healthcare.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it