Ambulatory Surgery Center Market

The global Ambulatory Surgery Center Market is valued at USD 115.2 Billion in 2022 and is projected to reach a value of USD 190.6 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.5% between 2023 and 2030.

Premium Insights

The market for Ambulatory Surgery Center (ASCs) has been driven by the growing need for affordable healthcare solutions. Over the past ten years, Ambulatory Surgery Center (ASCs) have grown significantly; currently, over 5,800 ASCs are operating in the United States alone, according to data from the Ambulatory Surgery Center Association (ASCA). Several important variables explain this rise. First, with shorter wait times and lower post-operative care costs, ASCs provide a more practical and effective substitute for conventional hospital-based procedures. ASCs' ability to perform a wider range of surgical treatments has also been made possible by developments in medical technology and surgical techniques, which have increased their market reach. Furthermore, the rise of the ASC industry has been facilitated by the move towards value-based care models and the prioritization of outpatient services by healthcare payers. When taken as a whole, these indicators suggest that Ambulatory Surgery Center have a bright future in the medical field.

• The increasing need for telemedicine and digital health solutions is a significant driver for the healthcare market, offering convenient and accessible healthcare services throughout the forecast period 2023 to 2030.
• The clinical IT solutions segment will continue to assert its dominance by products & services, capturing the largest market share globally throughout the forecast period 2023 to 2030.
• In 2022, North America exhibited its market prowess, achieving the highest revenue share of over 36.9%.
• The Asia Pacific region is poised for remarkable growth, displaying a noteworthy Compound Annual Growth Rate (CAGR) between 2023 and 2030.

Top Market Trends

1. Significant technical developments are among the ongoing trends in the ambulatory surgery center (ASC) market. Modern tools and digital health solutions are being progressively adopted by ASCs, improving the accuracy and effectiveness of surgical treatments. Electronic health records (EHR) systems, telemedicine integration, and robotics-assisted surgeries are typical procedures that improve patient outcomes and streamline administrative procedures.
2. One more noteworthy development is the increasing specialization of ASCs. Numerous facilities are concentrating on medical specialties, like gastroenterology, ophthalmology, or orthopedics. Through specialization, ASCs can gain knowledge, provide individualized patient care, and draw in a specific patient population looking for premium, in-office specialist care.
3. Partnerships between ASCs and payers, physician groups, and healthcare systems are growing. This trend guarantees effective reimbursement procedures, improves care coordination, and makes a larger patient group more accessible. Through collaborations, ASCs can also take part in value-based care models, which are in line with the changing healthcare landscape's focus on high-quality, reasonably priced services.

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Economic Insights

Several intricate economic factors have interacted to impact the ambulatory surgery center (ASC) business, most notably the COVID-19 epidemic. At first, the epidemic caused a brief lull in the flow of business, with patients fewer in number and elective surgeries delayed. In the early phases of the pandemic, this caused difficulties for ASCs in terms of revenue. But ASCs proved resilient as healthcare systems adjusted and put safety measures in place. The Ambulatory Surgery Center Association (ASCA) reports that ASCs recovered swiftly, demonstrating their adaptability and affordability. ASC utilization has been trending positively because patients seek outpatient therapy more frequently to reduce their exposure risks in hospitals. Cost-saving measures have helped the ASC market because, for several treatments, ASCs are typically more efficient and economical. Additionally, the pandemic hastened the adoption of digital and telemedicine solutions, giving ASCs chances to improve patient engagement and optimize operations. In summary, although the early effects of COVID-19 were difficult, ASCs adjusted and eventually saw encouraging trends, confirming their importance in the changing healthcare environment.

Market Segmentation

The Global Ambulatory Surgery Center Market is segregated into the segments as mentioned below:

The global Ambulatory Surgery Center market can be categorized into Products & Services, Components, Specialty, Region. The Ambulatory Surgery Center market can be categorized into Clinical IT Solutions, Non-Clinical Healthcare IT Solutions based on Products & Services. The Ambulatory Surgery Center market can be categorized into Services, Software, Hardware based on Components. The Ambulatory Surgery Center market can be categorized into Single Specialty, Multi-Specialty based on Specialty. The Ambulatory Surgery Center market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Products & Services

Clinical IT Solutions to Dominate Market Share Owing to Widening Support for Computerized Physician Order Systems

In 2022, the healthcare IT industry mostly uses clinical IT solutions. These solutions include clinical decision support tools, computerized physician order entry (CPOE) systems, and electronic health records (EHRs). Its immediate influence on patient care and clinical workflows is the main driver for its widespread use. For example, electronic health records (EHRs) facilitate patient data management, boost care coordination, and improve record accuracy. Prescription management is improved, and medication mistakes are decreased with CPOE systems. By assisting medical professionals in making well-informed clinical judgments, clinical decision support systems ultimately improve patient outcomes. Clinical IT solutions are the center of attention in the healthcare IT environment since non-clinical solutions, while crucial for administrative and financial activities, do not directly affect patient care.

Based on Components

Software Solutions to Widen Market Footprint Owing to Increasing Prevalence of Software Services

In 2022, the Software category has a substantial share in the global market and is estimated to witness lucrative growth in the coming years. The prevalence of software can be ascribed to its adaptability and crucial function in contemporary corporate processes. Healthcare software solutions are essential for maintaining patient data, expediting administrative chores, and enabling telemedicine services in the healthcare industry. Examples of these solutions include electronic health records (EHR) systems, medical billing and coding software, and telehealth platforms. For healthcare businesses to provide effective and high-quality care, stay in compliance with legal standards, and adjust to the constantly changing healthcare environment, these software solutions are essential. Although services and hardware are important, software is the most extensively used product category in the market due to its versatility and capacity to satisfy the changing technological needs of the healthcare industry.

Based on Speciality

Single Speciality ASCs to Cater to a Wider Consumer Base owing to Increased Focus on Customized Healthcare

Both single-specialty and multi-specialty practices are widely used in the healthcare industry, while their prevalence is frequently dependent on several variables. In 2022, the Single Specialty category had a significant share and is projected to witness substantial growth over the coming years. Because of their specific knowledge and focus on a single medical specialty, such as orthopedics or cardiology, single-specialty practices are preferred. Patients seeking specialist treatments are drawn to this specialization because it enables in-depth knowledge and customized care. Conversely, multispecialty practices serve a wider customer population seeking a variety of medical treatments by providing a more extensive range of healthcare services under one roof. The patient's needs, the patient's location, and the dynamics of the healthcare industry all influence the decision between the two. As a result, single-specialty and multispecialty practices, each meeting unique patient needs and preferences, are crucial parts of the healthcare market.

Based on Region

North America to Dominate Global Sales Regarding ASCs Owing to a Robust Pharmaceutical Industry

For several important reasons, the North American area dominates the global healthcare market. First, it has a robust pharmaceutical industry, state-of-the-art medical technologies, and an excellent healthcare infrastructure. In addition, a well-established health insurance system and significant healthcare spending guarantee that medical services are widely accessible. Furthermore, North America is home to many internationally recognized pharmaceutical businesses and medical research institutions, which spur innovation and medical improvements.

On the other hand, because of its growing middle class, growing population, and growing healthcare awareness, the Asia Pacific area is seeing a significant expansion in the healthcare industry. Higher healthcare costs, as a result, have increased demand for contemporary medical facilities and services. The area is becoming a major player in the global healthcare market because of government initiatives and foreign investments in healthcare infrastructure.

Competitive Landscape

The healthcare industry has a vibrant and diverse competitive landscape with a mix of well-established businesses and creative newcomers. Prominent healthcare providers, including Ambulatory Surgery Center and hospital systems, engage in competitive bidding for market share, prioritizing both cost-effectiveness and care quality. Within the healthcare IT space, established software firms provide electronic health record (EHR) systems, while entrepreneurs upend the market with digital health and telehealth apps. Companies in the biotechnology and pharmaceutical industries are always competing with one another to create new drugs and gain market share. Health insurance providers compete for clients by offering extensive coverage options and competitive rates. Because there are many options available to customers for healthcare services and solutions, this competitive climate fosters innovation.

The key players in the global Ambulatory Surgery Center market include - CHSPSC LLC (U.S.), Envision Healthcare Corporation (U.S.), TH Medical (U.S.), Pediatrix Medical Group (U.S.), United Health Group (U.S.), Surgery Partners (U.S.), Healthway Medical Group Pte. Ltd. (Singapore), SurgCenter (U.S.), Prospect Medical Holdings Inc. (U.S.), Group Eifelhöhen-Klinik AG (Germany), Edward-Elmhurst Health (U.S.), Nexus Day Surgery Centre (India) among others.

Recent Market Developments

• The robotic-assisted surgery program was introduced by Southeastern Spine Institute Ambulatory Surgery Center, a United Surgical Partners International (USPI) affiliate, in July of 2022. The Center will carry out total knee replacements using the technology.
• Together with United Surgical Partners International, Centura Mercury Hospital announced in July 2022 that it would build an ambulatory surgery center (ASC) in Colorado as part of its ongoing commitment to provide top-notch medical treatment.
• United Surgical Partners International (USPI) and Compass Surgical Partners signed a final agreement in October 2022 for USPI to acquire Compass Surgical Partners' ownership and managerial interests in nine ambulatory surgery clinics (ASCs).

Segmentation of the Global Ambulatory Surgery Center Market