Ambulatory surgical centers provide convenient and cost-effective treatment to patients through same-day surgical procedures without an overnight hospital stay. These centers offer a wide range of surgeries such as eye, dental, orthopedic, cardiovascular and cosmetic surgeries. Their adoption is growing as they help reduce healthcare costs and offer safe and effective surgical treatments.
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 key trends:
Growth in outpatient surgeries: Over the past few years, there has been a significant rise in outpatient surgeries being performed in ambulatory surgical centers instead of traditional hospital settings. This is mainly due to added conveniences offered to patients through speedier recovery and reduced hospital stay. As more complex surgeries are transitioned to outpatient settings, the volume growth of surgeries performed at ambulatory centers is expected to increase substantially over the forecast period. With the trend of shifting surgeries from inpatient to outpatient settings growing steadily, the ambulatory surgical center market is expected to experience continual growth.
SWOT Analysis
Strength: Ambulatory Surgical Center facilities offer a cost-effective alternative to hospital-based outpatient procedures. They provide high-quality care in a more comfortable environment for less complex surgical procedures.
Weakness: Ambulatory Surgical Centers have limited specialized equipment and medical professionals compared to hospitals. They cannot handle emergencies or complex cases that may require extensive monitoring or overnight stay.
Opportunity: Growing demand for cost-effective healthcare and rise in number of surgeries performed on an outpatient basis present an opportunity for ASCs to expand their service offerings. Increasing acceptance of ASCs by payers and providers also supports market growth.
Threats: Stringent regulations and compliance standards for ASCs increase operational costs. Shortage of healthcare staff also poses a challenge.
Key Takeaways
The Global Ambulatory Surgical Center Market Growth is expected to witness high growth. The market was valued at US$ 96.19 Bn in 2023 and is forecast to reach US$ 124.43 Bn by 2030, expanding at a CAGR of 4.2% during the forecast period.
Regional analysis- The North America region currently dominates the global ASC market driven by rising health insurance coverage and high demand for minimally-invasive surgeries. The regional market is estimated to reach US$ 67.52 Bn by 2030. Asia Pacific is expected to witness the fastest CAGR of 5.6% during the forecast period supported by growing medical tourism and improving healthcare infrastructure in countries like India and China.
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 leading players are focusing on expansion plans and partnerships to strengthen their market presence.