Ambulatory surgical centers (ASCs) are modern medical facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. ASCs help reduce healthcare costs by offering many common procedures more affordably compared to hospital outpatient departments. These facilities provide a wide range of surgical services including ophthalmology, orthopedics, gastroenterology, pain management, ENT, and dental among others. The growing preference for outpatient procedures instead of inpatient ones due to lower costs associated is a key factor driving the rising demand for ASCs globally.
The Global ambulatory surgical center market is estimated to be valued at US$ 143.3 Bn in 2031 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024-2031.
Key Takeaways
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 strategies such as partnerships, mergers, and acquisitions to expand their ambulatory surgical center networks across major countries.
The increasing demand for affordable and convenient healthcare is a major opportunity in the ASC market. ASCs offer high-quality care for low-acuity procedures at nearly two-thirds lower costs compared to inpatient hospital care. Furthermore, the COVID-19 pandemic has accelerated the shift towards outpatient procedures, benefiting ASC business models.
The key players are strategizing global expansion plans to leverage opportunities in foreign markets. For instance, AmSurg acquired 12 ASCs across 8 states in 2020 to solidify its presence in the United States. Similarly, United Surgical Partners International expanded into the Netherlands through acquisition of a leading ASC company called Medici. Other players are also evaluating opportunities in countries with growing medical tourism and deference for outpatient surgeries.
Market Drivers
Growing geriatric population - The rising life expectancy globally has led to a burgeoning elderly population who are more susceptible to various diseases requiring surgical care. Since ASCs provide a low-stress environment for recuperation, they are a preferred option for geriatric patients.
Increasing prevalence of chronic diseases - Chronic health conditions like cardiovascular, orthopedic, and neurological disorders requiring surgical interventions are on the rise. ASCs can efficiently handle low-risk surgeries for such diseases, avoiding costly inpatient stays.
Market Restrains
Shortage of healthcare personnel - The ASC industry faces challenges in recruiting and retaining qualified nurses and physicians. This is a key restraining factor in providing ample access to ASC facilities globally.
Limited number of covered procedures - Currently, procedures covered under ambulatory surgical center payments are limited. This restricts the services ASCs can offer competitively compared to full-service hospitals.
Segment Analysis
Emergency care segment holds the dominant share of ambulatory surgical center market currently. This is because emergency surgeries like appendicitis, emergency orthopedic procedures are usually handled on an immediate basis at ambulatory surgical centers for quick intervention and recovery. Next major segment is single specialty centers which offer focused services in areas like ophthalmology, pain management, ENT, orthopedics etc. These specialty centers attract high volume of patients requiring procedures in the respective specialties.
Global Analysis
North America region dominates the global ambulatory surgical center market currently. This is due to factors like favorable reimbursement policies for outpatient procedures, large demand for affordable surgeries, presence of key market players. United States accounts for the largest share in the North America region. Asia Pacific region is poised to witness fastest growth during the forecast period in ambulatory surgical center market. This is attributed to rapidly increasing healthcare expenditure, growing medical tourism, rising chronic diseases, growing demand for cost effective treatment options in densely populated countries like India and China.
No comments:
Post a Comment