The Ambulatory Surgical Center (ASC) market is widely utilized for surgical procedures that require overnight stays. ASCs provide many advantages like enhanced patient comfort, reduced recovery time, and lower cost of procedures when compared to traditional hospital-based outpatient departments. Services offered include orthopedic, ophthalmology, pain management, gastrointestinal, urology surgeries etc.
The Global Ambulatory Surgical Center Market is estimated to be valued at US$ 100.3 Bn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 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. Growing preference for minimally invasive surgical procedures along with increasing focus on cost reduction is driving higher demand for ambulatory surgical centers globally. Various services offered through ASCs help reduce burden on hospitals allowing them to focus on complex cases. Several market players are expanding their global presence through mergers and acquisitions to capitalize on opportunities in international markets.
Market key trends
Increasing partnerships between ASCs and hospitals: There is a growing trend where ASCs are partnering with healthcare systems and hospitals to expand access and offer a continuum of high-quality, cost-effective care. Such strategic collaborations also help provide hospitals access to ancillary services of ASCs and ensure steady patient flow. This collaboration results in a win-win situation for both entities leading to overall market growth over the forecast period.
Porter's Analysis
Threat of new entrants: New players face high initial investment and regulatory protocols to enter this market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of numerous ambulatory surgical centers providing similar services.
Bargaining power of suppliers: Suppliers include medical device manufacturing firms, pharmaceutical companies, etc. They have moderate bargaining power due to the need to maintain long term relations.
Threat of new substitutes: Alternatives include nonsurgical procedures. However, demand exists for certain surgical procedures conducted on a same-day basis making substitutions limited.
Competitive rivalry: Intense competition exists among existing players to gain market share and improve service quality.
North America currently holds the largest share of the global ambulatory surgical center market owing to favorable reimbursement policies, increasing demand for minimally invasive surgeries, and prevalence of chronic diseases. The Asia Pacific region is projected to witness the fastest growth during the forecast period attributable to growing medical tourism, developing healthcare infrastructure and economic growth.
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