Ambulatory surgical centers (ASCs) provide an alternative to hospital-based outpatient procedures by offering facilities for surgical and diagnostic procedures that do not require an overnight hospital stay. ASCs accommodate a wide range of surgical specialties including ophthalmology, orthopedics, gastroenterology, pain management, ENT and plastic surgery.
The global ASC market is estimated to be valued at US$ 144 Bn in 2023 and is expected to exhibit a CAGR of 36.4% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Ambulatory surgical centers aim to reduce healthcare costs by expediting surgical procedures that do not require extended monitoring after surgery. Over the past few decades, ambulatory surgical treatments have been increasing, especially among the growing elderly population. With the number of older Americans on the rise, the market for ambulatory surgical centers is expected to propel forward. Growing geriatric population coupled with rising preference for outpatient surgeries will continue driving demand for ASCs. Further, ASCs offer significant cost advantages over hospital-based procedures. They help eliminate pre-operation and post-operation hospital costs such as expensive inpatient beds and long waiting periods. These economic benefits associated with ASCs are also fueling market growth.
SWOT Analysis
Strength: Ambulatory surgical centers provide quick and affordable care for minor surgical procedures like endoscopy. They have specialized staff and equipment focused on outpatient procedures. Their smaller size allows for more flexible scheduling compared to hospitals.
Weakness: ASCs do not provide 24/7 emergency care services like hospitals. They have limited capabilities to handle complex or high-risk surgeries. Staff specialization means they cannot take general medical patients beyond ambulatory procedures.
Opportunity: Growing geriatric population and rise in chronic diseases is increasing demand for surgical care. ASCs help reduce waiting periods and high costs associated with hospitals. Telehealth can help ASCs virtually coordinate with specialists and primary care doctors.
Threats: Stricter regulatory oversight can raise compliance costs for ASCs. Economic downturns may cause patients to delay or forego elective procedures. Hospitals can acquire ASCs or build their own low-cost outpatient units to compete on price.
Key Takeaways
The Global Ambulatory Surgical Center Market Size is expected to witness high growth over the forecast period due to the rising prevalence of chronic diseases.
North America currently dominates the market due to the high acceptance of ASCs and favorable reimbursement policies in countries like the US. Centers in the US perform over 50% of all ambulatory surgeries globally. Asia Pacific is expected to grow at the fastest rate due to growing medical tourism, focus on cost-efficient healthcare models, and increasing healthcare expenditures.
Key players operating in the Ambulatory Surgical Center market are United Surgical Partners International, Tenet Healthcare, Envision Healthcare, Surgical Care Affiliates, Surgery Partners, and AmSurg. These companies have strong surgical networks across major markets and offer a variety of ancillary services like imaging and partnership programs. Consolidation within the industry has helped large ASC operators benefit from economies of scale.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.