by Ambulatory surgical centers (ASCs) provide same-day surgical care, including diagnostic and preventive procedures. ASCs are modern medical facilities focused primarily on outpatient surgeries and equipped with state-of-the-art medical technology and digital infrastructure that allow physicians to perform a wide and increasing array of outpatient surgeries. This has reduced the dependency on hospitals to drive down costs and improve patient experience by reducing wait times.
The global ambulatory surgical center market is estimated to be valued at US$ 96.19 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 Dynamics
The rising geriatric population is bolstering the growth of the ambulatory surgical center market. According to the United Nations, the number of people aged 65 years or older is projected to grow from nearly 524 million in 2010 to nearly 1.5 billion in 2050. Older age groups have a higher risk of developing various diseases and health conditions that require surgical care. This rising pool of geriatric population is expected to drive the demand for outpatient surgical procedures performed at ambulatory surgical centers.
Another major driver for the ambulatory surgical center market is the growing preference for minimally invasive surgeries. Minimally invasive surgeries such as laparoscopic surgery are increasingly being performed on an outpatient basis in ambulatory surgical centers rather than in hospitals owing to their benefits such as smaller incisions, shorter recovery periods, lesser pain and risk of infection. This shift towards minimally invasive procedures is expected to significantly support the growth of ambulatory surgical centers over the forecast period.
Segment Analysis
The global ambulatory surgical center market is dominated by single specialty centers sub segment. More than 60% of ASCs in the US are single specialty centers which focus on specialties like ophthalmology, pain management, gastroenterology etc. This is because single specialty centers allow healthcare providers to focus resources and staff on one clinical area leading to better clinical outcomes and quality of care.
PEST Analysis
Political: Changes in the US healthcare policies like expansion of Medicare coverage for procedures performed in ASCs are driving market growth. Economic: ASCs offer significant cost savings of 30-50% compared to inpatient hospital settings. This is encouraging more procedures to shift to lower cost outpatient settings. Social: Growing preference for convenient outpatient care and minimally invasive surgeries are increasing the demand for services offered by ASCs. Technological: Adoption of digital health technologies by ASCs like telehealth, remote patient monitoring and mobile apps are supporting effective care coordination and management of patients.
Key Takeaways
The global Ambulatory Surgical Center Market Share is estimated to be valued at US$ 96.19 billion in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2030.
Regional analysis
North America dominated the market in 2023 and is expected to continue its stronghold during the forecast period. This can be attributed to factors like presence of advanced healthcare infrastructure, growing geriatric population and favorable reimbursement policies in the US for ASC services.
Key players
Key players operating in the ambulatory surgical center market are Envision Healthcare Corporation, Tenet Healthcare, Surgery Partners, HCA Healthcare and Surgical Care Affiliates. ASCs owned by these large operator groups benefit from economies of scale and are well positioned to capitalize on industry growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
