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The ambulatory surgical center market comprises medical facilities that are focused on performing surgical procedures that do not require an overnight hospital stay. Ambulatory surgical centers offer various benefits such as lower costs, individualized care, and reduced waiting times. They are well-equipped to perform low-risk and less complicated surgical procedures such as cataract removal, colonoscopy, and orthopedic surgeries.
The Global Ambulatory Surgical Center Market is estimated to be valued at US$ 128.3 Bn in 2024 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 major players are focusing on strategic partnerships and acquisitions to enhance their market presence. Rising medical tourism and increasing preference for minimally invasive surgeries among patients offer substantial growth opportunities in the ambulatory surgical center market.
With rapid growth in healthcare infrastructure and increasing affordability, emerging economies in Asia Pacific and Latin America are expected to witness strong demand for ambulatory surgical centers over the forecast period.
Market drivers
The global ambulatory surgical center market is primarily driven by the rising preference for outpatient surgeries. Ambulatory surgical centers offer attractive alternatives to inpatient hospital procedures for low-risk and less complicated surgical treatments. The number of outpatient surgeries being performed across major countries is growing significantly owing to benefits such as faster recovery, affordable costs, and reduced hospital stays. Various initiatives taken by governments worldwide to promote ambulatory care are also helping shift the demand from inpatient to outpatient surgical settings. As a result, the number of ASC facilities is steadily rising. This rising outpatient trend is expected to remain a key growth driver for the ambulatory surgical center market over the coming years.
PEST Analysis
Political: The ambulatory surgical center market is regulated by oversight bodies like the Centers for Medicare and Medicaid Services (CMS) and state health departments. Changes in regulations can impact operations and investments.
Economic: Economic growth impacts the demand for surgical procedures. Rising income levels boost access to healthcare. However, uncertainties in the broader economy can adversely affect discretionary spending on elective surgeries.
Social: Aging populations and rise in lifestyle diseases have increased the prevalence of conditions treated at ambulatory surgical centers. Advances in minimally invasive techniques are encouraging the shift to outpatient settings. growing preference for convenient care delivered in low-cost settings.
Technological: Advancements like robotic assisted surgeries, digital health tools and telehealth are improving outcomes for complex cases in ambulatory facilities. Better equipment and training is helping ASCs perform a wider range of surgeries with reduced risk of hospitalization or complications compared to traditional settings.
The United States accounts for the largest share of the global ambulatory surgical center market in terms of value. This can be attributed to factors like the availability of advanced infrastructure, rising healthcare expenditure and favorable reimbursement policies. The growing geriatric population suffering from chronic illnesses is also driving demand in the country.
The Asia Pacific region is poised to witness the fastest growth during the forecast period. This can be accredited to improving access to healthcare, rising medical tourism and investments by market players looking to tap emerging economies. Initiatives aimed at expanding insurance coverage and upgrading facilities are helping to shift surgical volumes from hospitals to lower-cost ambulatory settings across Asia Pacific and Latin American nations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
