The ambulatory surgical center market offers convenient and affordable alternatives to traditional hospital-based outpatient procedures. Ambulatory surgical centers allow commonly performed surgical procedures to be conducted in facilities dedicated to outpatient procedures. With advantages such as shorter wait times, individualized care, and lower procedure costs, ambulatory surgical centers are becoming increasingly popular among patients and physicians alike.
The global ambulatory surgical center market is estimated to be valued at US$ 124.9 Bn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period of 2024-2031.
Key Takeaways
Key players operating in the ambulatory surgical center market: Key players in the ambulatory surgical center market include AmSurg Corp., HCA Holdings, Inc., Tenet Healthcare, Surgical Care Affiliates, Inc., Surgery Partners, and Ambulatory Surgical Centers of America. These leading players are focusing on enhancing service offerings and expanding their presence across various countries.
Key opportunities in the market: Significant opportunities for ambulatory surgical center market players exist in the areas of joint replacements, dental, ophthalmology, and minimally invasive procedures. Additionally, growing geriatric population suffering from chronic diseases will drive the demand for outpatient surgeries.
Technological advancements: Advancements in areas such as robot-assisted minimally invasive surgery, flowable hemostats, and navigation systems allow complex procedures to be conducted on an outpatient basis. This has further increased the popularity of ambulatory surgical centers among patients.
Market drivers
Preference for outpatient procedures: Growing preference among patients and physicians for minimally invasive procedures conducted in low-cost outpatient settings is a key driver for the ambulatory surgical center market. Minimal hospital stay and quick recovery increase demand.
Favorable reimbursement policies: Supportive regulatory framework and favorable reimbursement for procedures performed in ambulatory surgical centers attract patients. This encourages infrastructure investment from healthcare providers.
Rising healthcare costs: Rapidly rising hospital costs drive need for affordable alternatives such as ambulatory surgical centers. Their low overhead costs are attractive to payers and providers aiming to curb medical spending.
Current challenges in Ambulatory Surgical Center Market
The Ambulatory Surgical Center market is facing various challenges such as lack of skilled workforce, stringent regulations, and financial constraints imposed by third-party payers. With an increasing number of surgeries being performed on an outpatient basis, there is a growing shortage of trained nurses and technicians in ambulatory settings. Moreover, ASCs need to adhere to stringent guidelines set by CMS regarding patient safety, quality of care, and facility standards. The rising healthcare costs have led private and public payers to cut down reimbursements and impose other obstacles that add financial pressure on ASCs. Overall, workforce issues, regulatory compliances, and payment policies present significant hurdles for the growth of the Ambulatory Surgical Center market.
SWOT Analysis
Strength: Convenient locations and timings for patients. Procedures are generally less expensive when performed in ASCs compared to hospitals.
Weakness: Limited treatment capabilities. ASCs cannot accommodate complex or emergency cases requiring overnight stay.
Opportunity: Growing shift towards outpatient procedures. Insurers prefer ASCs to reduce healthcare expenditures.
Threats: Economic slowdowns can negatively impact the volumes and revenues. Potential reimbursement cuts by public and private payers.
Geographical regions with market concentration
The Ambulatory Surgical Center market in the United States accounts for the largest value share currently. This is primarily attributed to the changing healthcare landscape and patient preferences in the country that are driving the transition of surgical volumes from inpatient to outpatient settings. It is estimated that over 75% of all surgeries performed in the US are done on an outpatient basis.
Fastest growing region
Asia Pacific is projected to expand at the fastest pace during the forecast period, with China and India emerging as highly lucrative markets. This can be associated with rising medical tourism, growing private healthcare expenditure, increasing insurance coverage, and government efforts to strengthen outpatient infrastructure in the region. The burgeoning middle-class population seeking quality yet affordable medical care will significantly spur the adoption of ASCs in Asia Pacific over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
