Ambulatory surgical centers (ASCs) provide same-day surgical care, including diagnostic and preventive procedures. ASCs are modern medical facilities focused on performing surgical procedures that do not require an overnight hospital stay. Surgeries performed at ASCs include cataract removal, colonoscopy, endoscopic procedures, pain management, podiatric procedures, orthopedic procedures, and dental procedures. ASCs offer a lower-cost alternative to hospital outpatient departments for minor surgical procedures. Patients choosing ASCs over hospital outpatient departments experience reduced wait times and avoid risks of hospital-acquired infections. Additionally, payers such as private insurance companies and government programs prefer ASCs due to lower costs compared to hospital outpatient facilities.
The global Ambulatory Surgical Center Market is estimated to be valued at US$100.3 billion in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
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Market key trends:
The ambulatory surgical center market is witnessing increasing demand for value-based care. ASCs focus on offering surgical treatments and procedures at lower costs compared to hospital outpatient departments. This cost advantage has resulted in a gradual shift from hospital outpatient departments to ASCs. Additionally, ASCs experience better clinical outcomes for low-risk surgical procedures and reduced risk of hospital-acquired infections. Payers are encouraging the transition to lower-cost outpatient settings through site-of-care policies. ASCs need to enhance quality reporting and clinical outcomes to thrive in the value-based reimbursement environment. Adopting health information technologies and clinical data registries allows ASCs to improve quality and demonstrate strong performance on care parameters.
Porter’s Analysis
Threat of new entrants: Low due to heavy capital requirement, economies of scale and established brand loyalty among major players.
Bargaining power of buyers: Moderate due to brand value and product differentiation of major players. However, buyer have low switching costs.
Bargaining power of suppliers: Moderate as major players have established supplier network but suppliers have threat of forward integration.
Threat of new substitutes: Low as no major substitute exists for ambulatory surgical centers.
Competitive rivalry: High due to fragmentation and regional presence of large number of local players. Major players differentiate through service quality.
Key Takeaways
The global ambulatory surgical center market is expected to witness high growth.
Regional analysis: The North America region holds the major share in ASC market and is expected grow at a CAGR of over 4% during the forecast period. Factors such as availability of private funding for infrastructure, advanced healthcare facilities and favorable reimbursement policies are driving the market growth.
Key players:
Key players operating in the ambulatory surgical center market are Envision Healthcare Corporation, Tenet Healthcare, Surgery Partners, HCA Healthcare and TH Medical.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it