by Ambulatory surgical centers (ASCs) are modern healthcare facilities aimed at providing same-day surgical care, including diagnostic and therapeutic procedures. ASCs provide an alternative to hospital-based outpatient procedures. They are equipped to deliver a wide range of surgical procedures that do not require overnight hospital stays using local anesthesia or monitored anesthesia care. Procedures commonly performed in ASCs include cataract surgery, colonoscopy, endoscopy, preventive screening, orthopedic surgery, pain management, podiatric procedures, and vision correction among others.
The global Ambulatory Surgical Center Market is estimated to be valued at US$ 93.7 Billion in 2023 and is expected to exhibit a CAGR of 36% over the forecast period 2023 to 2033, as highlighted in a new report published by Coherent Market Insights.
The global ambulatory surgical center market is driven by the rising prevalence of chronic diseases across the globe which require surgical interventions that can be provided at ASCs. As per the WHO, chronic diseases accounted for an estimated 60% of all deaths globally in 2020. Conditions like cardiovascular diseases, cancer, diabetes are majorly responsible for increased healthcare spending across countries. For instance, according to the American Cancer Society, in 2023, an estimated 1.9 million new cancer cases are expected to be diagnosed in the US.
Many of these diagnosed cases require surgical procedures which can be performed safely on an outpatient basis at ASCs without need for overnight hospital stays. The other driver favoring market growth is lower costs associated with ASCs compared to inpatient hospital stays. On an average, surgical procedures performed at ASCs cost up to 80% less than those performed in hospital outpatient departments. Lower costs make ASCs financially viable for patients as well as healthcare systems.
Market Dynamics
Conditions like diabetes, cancer, cardiovascular diseases that commonly require surgical interventions are on the rise worldwide. As per the WHO, chronic disease burden has overwhelmed healthcare systems across nations. Ambulatory surgical centers can effectively address this mounting surgical case load through low-cost outpatient procedures without need for hospital admissions. Their ability to deliver targeted surgical care for chronic diseases on an outpatient basis supports market growth.
Segment Analysis
The ambulatory surgical center market is dominated by single specialty centers sub segment. Over 70% of ambulatory surgical centers in the United States are single specialty centers, focused on either orthopedics, ophthalmology, gastroenterology etc. Single specialty centers attract higher number of patients as they offer dedicated expertise, streamlined processes and equipment focused on particular specialties.
PEST Analysis
Political: The ambulatory surgical center market is positively impacted by various government initiatives aimed at reducing healthcare costs such as promoting outpatient procedures over inpatient. Various countries are also allowing greater participation of private ambulatory surgical centers to improve access to elective surgeries.
Economic: Rising healthcare costs have prompted increased adoption of low cost outpatient surgeries performed in ambulatory surgical centers. Growing middle class population coupled with increasing lifestyle diseases also contributes to market growth.
Social: Growing preference for minimally invasive surgeries, faster recovery and avoidance of hospital acquired infections drive demand for ambulatory surgical centers. These centers offer convenience of scheduling surgeries as per patient needs.
Technological: Adoption of advanced medical technologies such as robotic surgeries aid in performing complex surgeries efficiently in outpatient settings. Emerging technologies improve clinical outcomes and help perform more surgeries in ambulatory setups.
Key Takeaways
The global Ambulatory Surgical Center Market Growth is expected to witness high growth.
The North American region currently dominates the market owing to favorable reimbursement policies and increasing preference for outpatient surgeries. The Asia Pacific region is anticipated to be the fastest growing market due to rising medical tourism, healthcare infrastructure development and growing medical aspirations in middle class population.
Key players operating in the ambulatory surgical center market are United Surgical Partners International, Tenet Healthcare, Envision Healthcare, Surgery Partners and Surgical Care Affiliates. These key players are focusing on acquisitions, joint ventures and geographical expansion into emerging markets to strengthen their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
