Ambulatory surgical centers (ASCs) are modern healthcare facilities for surgical procedures that do not require overnight hospital stays. ASCs provide various outpatient services like diagnostic tests, preventive services, treatment of minor diseases, and surgeries under local anesthesia. They offer advanced medical equipment and specialized healthcare professionals for procedures like endoscopy, pain management, dental surgeries, ophthalmology, gynecology, orthopedics, and others. ASCs offer many advantages over hospital-based outpatient departments like lower costs, fewer infections, more scheduling flexibility, and comfortable experience. With rising healthcare costs and growing popularity of minimally invasive procedures, ASCs are emerging as a preferred alternative for low-risk surgeries.
The global Ambulatory Surgical Center market is estimated to be valued at US$ 123.1 bn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024-2031.
Key Takeaways
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. With increasing demand for cost-effective surgical services, leading players are focusing on mergers and acquisitions to expand their service portfolio and geographic reach.
Growing preference for minimally invasive procedures and specialty surgeries is a major factor driving the demand for ASC services. ASCs offer advanced equipment and specialized healthcare professionals to perform complex procedures like orthopedic, ophthalmology, and pain management surgeries in an outpatient setting.
Adoption of advanced technologies like robot-assisted surgery, artificial intelligence, virtual reality, and digital imaging solutions is allowing ASCs to perform complex surgeries traditionally done through overnight hospital admissions. Technology-enabled ASCs provide enhanced patient care, shortened recovery time, and superior surgical outcomes.
Market Trends
Emergence of specialty ASCs - With increasing focus on specific clinical specialties, specialty ASCs that offer services in orthopedics, ophthalmology, gastroenterology, pain management, and ENT are growing rapidly.
Adoption of bundled payment programs - Various private and public payers are adopting bundled payments and episodes-of-care models for surgical procedures performed in ASCs to contain healthcare costs.
Market Opportunities
Growing geriatric population - Rising number of older adults suffering from age-related diseases will drive the volume of low-risk surgeries performed in the outpatient ASC setting.
Emerging markets in Asia Pacific - Countries like China, India, and Japan present significant opportunities for ASC players due to growing medical tourism, lack of hospital beds, and universal healthcare policies.
Impact of COVID-19 on Ambulatory Surgical Center Market Growth
The COVID-19 pandemic has significantly impacted the growth of the ambulatory surgical center market. In the initial phases of the outbreak in 2020, most elective surgeries and non-emergency procedures were postponed to avoid the risk of COVID-19 exposure and reserve medical resources for virus infected patients. This led to a major decline in ambulatory surgical centers' patient volume and revenue generation. However, as restrictions eased in late 2020 and 2021 with improved COVID-19 management, the market saw a gradual recovery as centers resumed normal operations with strict safety protocols. The implementation of social distancing norms and maintaining hygiene standards increased operational costs for centers. They also had to invest in equipment like ventilators, monitors and Personal Protective Equipment (PPE) kits to ensure maximum safety of patients and staff. The demand for minimally invasive surgeries grew in the pandemic as they offer shorter hospital stay and quick recovery. Going forward, centers need to focus on clearing backlogs, implementing advanced technologies, and optimizing costs to boost profitability in the long run.
North America currently holds the largest share of the global ambulatory surgical center market in terms of value. This is attributed to the well-established healthcare infrastructure, favorable reimbursement policies, and increasing preference for outpatient surgeries in the region. The Asia Pacific market is expected to experience the fastest growth during the forecast period due to rising medical tourism, growing geriatric population, increasing healthcare spending, and rapid establishment of new centers. Countries like India, China, and Japan are projected to significantly contribute to the regional market expansion.
