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Ambulatory Surgical Centers Market Segments: By Component (Services, Software, and Hardware); By Application (Orthopedics, Plastic Surgery, Ophthalmology, Gastroenterology, Pain Management and Others); and Region - Global Analysis of Market Size, Share & Trends for 2014 - 2020 and Forecasts to 2030
[ 170 + Pages Research Report ] Ambulatory Surgical Centers Market to surpass USD 9.3 Billion by 2030 from USD 1.8 Billion in 2019 in terms of value growing at a CAGR of 27.3% throughout the forecast period, i.e., 2020-30.
Modern outpatient surgery centers have services that focus on delivering same-day surgical treatment, including diagnostic and preventive procedures, which are often referred to as ASCs. Ambulatory surgery centers for millions of Americans, it has changed the outpatient experience by giving them a more convenient alternative to hospital-based outpatient procedures. By having a good track record of quality treatment and positive patient outcomes these surgeries include fewer complications than requiring more hospitalization.
Ambulatory Surgical Centers Market to surpass USD 9.3 Billion by 2030 from USD 1.8 Billion in 2019 in terms of value growing at a CAGR of 27.3% throughout the forecast period, i.e., 2020-30. The demand for ASCs is mainly driven by a rising emphasis on healthcare costs and increased Medicare spending on ASCs. They are actively making efforts to widen their range of services to drive the inflow of patients and raise sales that draw customer interest. In addition, technical developments, growing healthcare spending, aging population, increasing chronic disease prevalence, cataract surgery, outpatient surgery development, and industry consolidation.
Software segment to grow with the highest CAGR during 2020-30
Ambulatory Surgical Centers Market is segmented by components as services, software, and hardware. With a share of over USD 1.8 Billion percent in 2019, the services segment is expected to lead the market owing to the introduction of complex software, the need for integration and interoperability of software, the growing demand for consulting and outsourcing of various healthcare processes such as revenue cycle management, EHR management, and fraud detection. The software segment is expected to grow and growing demand for IT solutions such as eHealth, telehealth, and remote patient monitoring for better management.
Plastic surgery Segment to grow with the highest CAGR during 2020-30
Ambulatory Surgical Centers Market is segmented by application into ophthalmology, orthopedics, gastroenterology, pain management/spinal injections, plastic surgery, and others. The gastroenterology segment accounted for the largest revenue share of USD 1.8 Billion in 2019 due to a wide presence of gastroenterology departments across the world. The plastic surgery segment is expected to see the fastest growth. Due to the aging population, increased demand for reconstructive surgery has fueled the growth of ASCs, enhanced surgery protection, and increased focus on physical appearances. Furthermore, likely, an improvement in patient preference for nonsurgical and minimally invasive surgeries would support segment development over the forecast period.
Growing chronic disease prevalence is also expected to help the global outpatient surgical center market expand over the forecast period. A key factor expected to drive the ASC market is also the increasing number of partnerships and acquisitions in the region. Some of the factors responsible for ASC market growth include growing demand for minimally invasive procedures, technical advances in surgical instruments and equipment, and the influence of surgeons over the choice of such equipment.
Market growth is driven by factors such as growth in the number of surgeries and growth in the geriatric population. In addition, technological advances, increased demand for minimally invasive procedures, and growth in the expansion of outpatient facilities are driving the growth of the market for outpatient surgical centers. During the forecast era, an increase in demand for ambulatory surgical centers in developing nations is expected to generate new opportunities.
It is expected that a low physician-to-patient ratio would impede the growth of the global demand for ambulatory surgical centers. In addition, the disappearance of out-of-network payments is also expected to slow business growth. This can be due to the pressure on doctors and patients from payors to choose in-network providers for their referrals and meetings.
United Surgical Partners.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.
Ambulatory Surgical Centers Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Ambulatory Surgical Centers Market in North America led the market with a lion's share of more than USD 1.8 Billion in 2019 and is expected to maintain its position during the forecast period. Growing government support to advance primary care services and increasing coverage for outpatient services are major factors leading to this market's development. In the Asia Pacific, the idea of ASCs is still new. However, rising healthcare costs have resulted in the growth of outpatient centers due to the increase in the prevalence of chronic diseases, the aging population, high healthcare spending, and growing hospital readmissions. Therefore, in the coming years, the area is expected to see the fastest growth. The major contributors to the growth of the regional market are Japan, China, India, Singapore, Australia, and New Zealand.
Ambulatory Surgical Centers market, which is highly competitive, consists of several major players such as Cerner Corporation (US), McKesson Corporation (US), Allscripts Healthcare Solutions, Inc. (US), GE Healthcare (US), Philips Healthcare (Netherlands), athenahealth, Inc. (the US) hold a substantial market share in the Ambulatory Surgical Centers market. Other players analyzed in this report are Optum (US), Epic Systems Corporation (US), Medical Information Technology, Inc. (MEDITECH) (US), eClinicalWorks (US), athenahealth, Inc. (the US), Advanced Data Systems Corporation (US), NextGen Healthcare (US), CureMD (US), HST Pathways (US), and Surgical Information Systems (US) among others.
Key players are adopting inorganic growth strategies such as product launches in the global nutritional supplement market. For instance, In 2019, MEDITECH collaborated with Google to offer EHR data through the Google Cloud Platform. This helped to securely deliver patient data, enhance scalability, and facilitate interoperability.
Ambulatory Surgical Centers Market is further segmented by region into:
Ambulatory Surgical Centers Market Segments:
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