The U.S. Ambulatory Surgery Center (ASC) Market provides a cost-effective alternative to traditional hospital-based outpatient procedures. ASCs are modern medical facilities focused on elective surgeries like cataract removal, colonoscopy, and orthopedic procedures that do not require an overnight hospital stay. They offer state-of-the-art amenities while avoiding expensive inpatient costs. ASC procedures make up a large portion of the total U.S. surgery volume each year, accounting for over 50% of knee replacements and more than 70% of cataract operations.
The global ASC Market is estimated to be valued at US$ 72.58 billion in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the U.S. Ambulatory Surgery Center market are AmSurg Corp., Getinge Group, Tenet Healthcare, Regent surgery Health L.L.C, Covenant surgery Partners Inc, and Surgery Partners. The rising rates of chronic diseases and increased demand for minimally invasive procedures are fueling market growth. Additionally, ASCs offer a more personalized experience with flexible scheduling and shorter wait times compared to hospitals. This has encouraged more physicians to operate out of ASCs.
The U.S. ASC Market Growth prevalence of chronic illnesses like osteoarthritis, obesity and diabetes is boosting demand for orthopedic, gastrointestinal and ophthalmic procedures. According to the Centers for Disease Control and Prevention, overweight and obesity affect over 70% of the U.S. adult population. The number of ambulatory surgeries performed in the country has increased exponentially over the past decade to keep up with treatment needs.
ASCs are also actively penetrating international markets by managing facilities abroad or through joint ventures. For instance, AmSurg invested in seven centers across the UK in 2022 to capitalize on growing privatization in the country’s healthcare system. Meanwhile, Surgery Partners has established a footprint in Spain and plans further international expansion. Governments are increasingly favoring ASCs to curb rising hospitalization costs.
Market Key Trends
One of the major trends in the U.S. ASC market is service outsourcing. Over the last 5 years, hospitals have increasingly shifted lower-acuity procedures to ambulatory surgical centers in order to reduce costs and focus resources on complex inpatient cases. This outsourcing partnership model allows hospitals to control capacity issues while gaining efficiency. It also gives ASC groups steady case volumes for sustainability. The trend is expected to continue as value-based reimbursements incentivize lower-cost, high-quality care settings.
Porter’s Analysis
Threat of new entrants: High capital requirements and need for approvals act as barriers.
Bargaining power of buyers: Large buyers can negotiate on price and quality of services
Bargaining power of suppliers: Suppliers have less bargaining power due to availability of substitutes.
Threat of new substitutes: Alternatives like outpatient clinics offer substitutes but ASCs offer convenience and specialization.
Competitive rivalry: Fierce competition exists among existing ASCs to attract patients and physicians.
Geographical Regions
The U.S. ASC market is highly concentrated in regions with higher population densities like the West and South regions. California, Texas and Florida account for over 30% of the total ASC facilities in the country due to their large urban centers.
The Midwest region is projected to witness the highest CAGR during the forecast period. Significant investments by healthcare systems to set up multi-specialty ASCs will drive market value in states like Ohio, Michigan and Illinois. Furthermore, favorable regulations supporting the shift towards outpatient surgical procedures will further support market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn