The global Ambulatory Surgical Center Market is estimated to be valued at US$ 96.19 Bn in 2022 and is expected to exhibit a CAGR of 4.2% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ambulatory surgical centers (ASCs) are modern medical facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. ASCs help decrease the number of unnecessary hospitalizations and reduce healthcare costs compared to inpatient hospital procedures. ASCs offer a wide range of low-risk outpatient procedures including orthopedic, ophthalmology, pain management, ENT, and gastrointestinal procedures. The growing preference for minimally invasive surgeries and the focus on reducing healthcare costs is fueling the demand for ASCs globally.
Market key trends:
The key trends driving the growth of the ambulatory surgical center market include rising geriatric population undergoing various surgical procedures, increasing prevalence of chronic diseases requiring surgical treatment, and growing demand for cost-effective outpatient treatment. Additionally, technological advancements improving ambulatory equipment and the focus of healthcare providers to shift low-risk surgeries from inpatient to outpatient settings are further propelling the market growth. However, stringent regulatory frameworks for ASCs and shortage of physicians may hamper market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The ambulatory surgical center market has moderate threat of new entrants due to significant capital requirements for setting up a new ambulatory surgical center facility.
Bargaining power of buyers: The bargaining power of buyers is moderate. Individual buyers have low bargaining power due to specialized services offered whereas insurance companies have higher bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate as there are many suppliers for devices, pharmaceuticals, and other medical equipment suppliers.
Threat of new substitutes: The threat of substitutes is low as there are limited alternatives to ambulatory surgical centers for outpatient surgeries.
Competitive rivalry: The competitive rivalry in the market is high due to presence of many private ASC chains and hospital-owned ASCs.
Key Takeaways
The global Ambulatory Surgical Center Market Share is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing number of outpatient surgeries worldwide. North America dominated the market accounting for more than 35% of global revenue in 2022 due to growth in healthcare expenditure and supportive reimbursement policies in the region.
The Asia Pacific regional market is expected to be the fastest growing region due to increasing medical tourism, rising disposable income, growing geriatric population and infrastructure investments by various governments in the region. Developing countries are expected increase penetration of ASCs to reduce healthcare costs.
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. Growth strategies adopted by these players include acquisitions, partnerships and expansion of ambulatory surgical centers across regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it