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Ambulatory Surgery Centre Market Size Estimated to Reach $110.4 Billion by 2027

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Ambulatory Surgery Centre Market Size Estimated to Reach $110.4 Billion by 2027

May 07
05:22 2022
Ambulatory Surgery Centre Market Size Estimated to Reach $110.4 Billion by 2027
Ambulatory Surgery Centre Market | IndustryARC
The Augmentation in Acute and Chronic Illnesses Is a Preeminent Factor Driving the Growth in the Respective Ambulatory Surgery Centre Market.

Ambulatory Surgery Centre Market size is estimated to reach $110.4 billion by 2027, growing at a CAGR of 5.1% during the forecast period 2022-2027. The ambulatory surgery center is also described as an outpatient surgery center because they extend the convenience of same-day surgery to patients. These modern healthcare facilities are run by the pain management team which includes therapists, psychologists, practitioners, and many more. ASCs are proficient in performing several diagnostic and preventive surgeries such as cataract surgery, orthopedics procedures, and gastroenterology. Undergoing hospital surgeries which include in-hospital stay for more than a month can cost an arm and leg. Consequently, the trends of outpatient surgeries are escalating owing to the expediencies they offer to patients such as lower cost and quick treatments. Therefore, considering the aforementioned factors the ambulatory surgery center market outlook is exceptionally captivating. Augmentation in the prevalence of chronic and acute illnesses, soaring prices of hospital care, and broadening old-age population are factors set to drive the growth of the Ambulatory Surgery Centre Market for the period 2022-2027.

Ambulatory Surgery Centre Market Segment Analysis-By Surgery Type

The Ambulatory Surgery Centre Market based on the surgery type can be further segmented into cosmetic surgeries (=plastic surgery), urological surgery, gastroenterology (=gall bladder exclusion, pancreas complications, and others), vascular surgery, endoscopic and orthopedic procedures, and others. The orthopedics segment held the largest share in 2021. The growth is owing to proliferating musculoskeletal complications. With intensification in soft tissues, bones, and muscles complications due to sporting and accident injuries the demand for orthopedics surgeries is swelling. In 2021 more than 1.5 billion people had musculoskeletal problems.
However, the orthopedics and cosmetic surgery segment are estimated to be the fastest-growing segment with a CAGR of 5.8% over the forecast period 2022-2027. This growth is owing to broadening the old-age population throughout the globe. Spinal disc and lower back pain complications are one of the major factors behind the growth of orthopedics segments. Moreover, post lockdown more and more people are undergoing such cosmetic treatments as they got enough time to perform research about available procedures. Additionally, people in modern-day society are becoming more aesthetic conscious fueling the growth in the respective segment.

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Ambulatory Surgery Centre Market Segment Analysis-By Services

The Ambulatory Surgery Centre Market based on services can be further segmented into emergency care, diagnostics, surgical treatments (=accident treatment, laceration treatments), and others. The surgical segment held the largest share in 2021. The outpatient centers are famous for their surgical facilities segment as they offer a wide range of treatments. Ambulatory surgeries have several benefits over hospital surgeries such as minor stress and easy schedules which is the biggest reason behind heightened demand in the respective segment. Outpatient surgeries are very cost-effective compared to in-hospital procedures because this modern healthcare system allows patients to discharge and go home within a time span of one day. Therefore, following the surgical procedures patient can recover at home without disquieting about staying outlays.

Similarly, the same segment is estimated to be the fastest-growing segment with a CAGR of 6.1% over the forecast period 2022-2027. This growth is owing to the ever-growing expenses of hospital healthcare. In several medical procedures, in-hospital stays duration reach up to 1 month as a result of which patients have to bear unnecessary and heavy expenses.

Ambulatory Surgery Centre Market Segment Analysis-By Geography

The Ambulatory Surgery Centre Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 40% of the overall market in 2021. The growth in this segment is owing to the factors such as high awareness among the general public regarding the existence of such facilities. According to a report, the US has more than 9000 active ASCs throughout the nations and the number is growing considering the exorbitant hospital care. On another hand, the presence of leading medical companies is another prominent factor behind the growth of the ambulatory surgery market as they can bear the heavy cost of setting up such facilities.

However, Asia-pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to accruing the old-age population and chronic illnesses in Asian nations are enlarging the demand for various surgical procedures. According to a study, around 51-53% of deaths in India happen due to chronic maladies. A major faction of the Asian population lives on labor work. Workers lift heavy weights manually which leads to musculoskeletal hitches and intensify the requirement of undergoing surgical procedures.

Ambulatory Surgery Centre Market Drivers

Upsurging Healthcare costs worldwide are Anticipated to Boost Product Demand

It is becoming hard for the lower middle class and middle-class population to bear the expenses of healthcare as the cost is escalating day by day owing to the rise in demand. Therefore, people are undergoing ambulatory surgery centers over hospitals due to their cost-effective nature. Many affluent countries spend around 10% of their GDPs every year on health. The number is estimated to rise considering the upsurge in illnesses. Drug prices are rising. According to a report, countries like the US spends more than $1300 per person on drugs which are the highest in the world. Moreover, handsome salary packages of medical practitioners are another factor putting weight on peoples’ pockets. The average salary of nurses has reached more than $60,000 across many European nations. Whereas, if we talk about the US doctors are earning more than $200,000 on annual basis.

Augmenting chronic illnesses with the old-age population is Expected to Boost Product Demand

The augmentation in acute and chronic illnesses is a preeminent factor driving the growth in the respective market. According to a report, the prevalence of arthritis is rising with a soaring old population. Over 350 million cases of arthritis were found in 2021. The number is expected to grow steadily as old-age is about to reach 1-2 billion-mark in foreseeable future. On another hand, diabetes, strokes, heart attacks, and cancer are claiming millions of lives every year.

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Ambulatory Surgery Centre Market Challenges

High-cost pertaining to setting up an ASC often impedes the market growth

The exorbitant cost required for setting up required infrastructure and lack of skilled professionals is Anticipated to Hamper Market Growth. Even though ambulatories are famous for providing cost-effective medical procedures to patients, but the Initial cost required to set up all necessary infrastructure including building, machines, and other medical apparatuses is too high which can be a factor of concern for the market growth. a small, single-specialty center with two surgical suites ranges from $2 million to $3 million, with larger-multispecialty ASCs costing $4 million to $8 million, according to calculations provided by Meridian Surgical Partners. Moreover, the lack of skilled professionals with an adequate amount of knowledge can strangle the growth of the ambulatory surgery market as the job of doctors and specialists require people who are a cut above.

Ambulatory Surgery Centre Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Ambulatory Surgery Centre Market. The top-10 Ambulatory Surgery Centre Market key companies of this market are-

Community Health Systems
Tenet Healthcare Corporation
MEDNAX Services
Quorum Health Corporation
Surgery Partners
Healthway Medical Group
TeamHealth
Envision Healthcare Corporation
Terveystalo
UnitedHealth Group

Recent Developments

On November 8, 2021, Texas, United States-based healthcare services firm “Tenet Healthcare” and “United Surgical Partners International”, commonly known as (USPI) publicized that they have reached an acquisition agreement with a US-based outpatient surgical center (SCD). According to the agreement, both firms will acquire joint tenancy in 92 ambulatory surgery centers. The total value of the transaction is around $1.2 billion.

In October 2021, USA health would open Alabama Campus with surgery center (ASC). The center would be built in Fairhope, Alabama. Moreover, the campus would cover an area of 25,00 square feet that would also feature 55,000 square foot physicians’ office buildings. The campus has been scheduled to start functioning from 2023. The collaboration which has been shown is between USA College of Medicine and other local providers.

In April 2021, Healthcare group-physician joint ventured to open ASC in Alabama USA. The joint venture is between Opelika-based East Alabama Medical Center and Five Physicians shareholders. Moreover, the facility opened in 2010, but had received extensive renovation in 2020 which further got posted owing to lockdowns. Moreover, the ASC would now have four operating rooms, one procedure rooms, two recovery areas, a central sterile department, a C-arm radiographic machine with new ultrasound machine.

Key Takeaways

Geographically, the North America Ambulatory Surgery Centre Market accounted for the highest revenue share in 2021. It is owing to the shear volume of patients and highly fragile geriatric population which fuels the market. However, Asia-pacific is poised to dominate the market over the period 2022-2027 owing to the recent advancement in the field of medical sciences seen particularly in China, India, and Japan.

Enlargement in injuries associated with road tragedies and chronic maladies is said to be a preeminent driver driving the growth of the Ambulatory Surgery Centre Market. Exorbitant cost to set up such contemporary healthcare facilities, lack of skilled professionals in respective field is said to reduce the market growth.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Ambulatory Surgery Centre Market report.

Relevant Link:

Hospital Supplies Market

https://www.industryarc.com/Report/15723/hospital-supplies-market.html

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