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| Ambulatory Surgical Center Market |
The Ambulatory Surgical Center Market is estimated to be valued at US$ 96.19 Bn in 2022 and is expected to exhibit a CAGR of 4.2% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ambulatory surgical centers (ASCs) are modern health care facilities focused
primarily on providing same-day surgical care, including diagnostic and
preventive procedures. ASCs provide lower costs and increased convenience
compared to hospital outpatient departments. Procedures performed in ASCs
include cataract removal, colonoscopy, orthopedics, pain management, podiatry,
and gynecology among others. ASCs allow common low-risk procedures to be
performed in an outpatient setting safely and effectively.
Market Dynamics:
As ASCs provide significant cost savings compared to hospital outpatient
departments, their use has been increasing rapidly. On average, procedures
performed in ASCs cost 60% less than the same procedures performed in hospital
outpatient departments. This large difference in costs is driving growth in the
number and types of procedures performed in ASCs. Additionally, ASCs offer
convenience as they reduce wait times and are often located closer to patients'
homes compared to hospitals. The preference for minimally invasive surgeries
has also been increasing which can often be conveniently performed on an
outpatient basis in ASCs. Furthermore, the growing geriatric population which
is more prone to chronic diseases and surgical procedures is fueling the demand
for low-cost and convenient outpatient care provided by ASCs.
SWOT Analysis
Strength: Ambulatory Surgical Center offers convenient and cost effective procedures
to patients. It provides same day surgery without requiring overnight hospital
stay. ASCs are well equipped with modern medical facilities and highly skilled
staff which ensures safe and quality treatments.
Weakness: ASCs have limited capabilities to handle complex procedures and
emergency cases. They entirely depend on referral hospitals for handling
complications during or after procedures. Lack of awareness among patients
about services of ASCs.
Opportunity: Rising geriatric population prone to chronic diseases and surgical
treatments provide growth opportunities. Increasing preference for outpatient
surgeries over inpatient hospital stays can drive the market.
Threats: Stringent regulations pertaining to facilities and certifications
increase operational costs for ASCs. Growing preference for homecare surgeries
due to COVID-19 pandemic can impact market growth.
Key Takeaways
The global Ambulatory Surgical Center market is expected to witness high
growth, exhibiting a CAGR of 4.2% over the forecast period, due to increasing
preference for minimally invasive surgeries and rising healthcare costs. The
market size is estimated to reach US$ 140.16 Billion by 2030.
Regional analysis
North Ambulatory
Surgical Center Market Share currently accounting for over 40% share.
This is attributed to the easy availability of advanced medical facilities and
higher acceptance of ASCs among patients in the US and Canada. The Asia Pacific
region is expected to grow at the fastest rate owing to rising medical tourism,
healthcare infrastructure expansion, and growing focus on affordable surgical
treatments.
Key players
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 expansion of ambulatory surgical facilities through
mergers and acquisitions to strengthen their market presence.
Read More,
https://www.trendingwebwire.com/ambulatory-surgical-center-market-trends-size-and-share-analysis/
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