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Ambulatory surgery centers (ASCs) provide an alternative to traditional hospital-based outpatient procedures by offering patients surgical care in an office-based setting. ASCs specialize in healthcare procedures that do not require an overnight hospital stay such as cataract removal, colonoscopy, orthopedic, and pain management procedures. The advantages of ASCs include lower costs to patients and payers, greater accessibility, and more scheduling flexibility compared to hospital-based facilities. The number and percentage of outpatient surgeries performed in ASCs rather than hospital outpatient departments has been steadily increasing as health systems focus on lowering costs and improving efficiency.
The global U.S. Ambulatory Surgery Center Market is estimated to be valued at US$ 65.58 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of the ASC market is driven by the increasing elderly population who require more surgical procedures. According to the U.S. Census Bureau, the percentage of the U.S. population aged 65 years and older is projected to grow to nearly 24% by 2060. With age comes an increased need for surgical care due to ailments such as arthritis, cataracts, cardiovascular disease and cancer. ASCs provide a lower cost, high-quality alternative to hospitals for these age-related procedures. Market leaders are differentiating themselves by offering expanded specialty services and investing in new technologies like robotic and hybrid surgery suites better able to serve an aging population. Co-management and joint venture partnerships between hospitals and ASCs have also become more popular as a strategy to capture more market share in outpatient surgery.
Porter’s Analysis
Threat of new entrants: Establishing ambulatory surgery centers requires a sizable capital investment and needs regulatory approvals which limits the threat of new entrants.
Bargaining power of buyers: Individual patients have low bargaining power but large healthcare insurers and government payers have significant bargaining power over prices and services.
Bargaining power of suppliers: Medical equipment and pharmaceutical companies have moderate bargaining power as suppliers to ASCs as centers can choose from multiple equipment and drug suppliers.
Threat of new substitutes: Alternatives like outpatient departments of hospitals and physician clinics pose some threat but ASCs provide specialized services focusing only on outpatient surgeries.
Competitive rivalry: The U.S. ASC market is highly fragmented with many regional and local players. Competition is based on quality, cost, location and specific specialties.
Key Takeaways
The global U.S. Ambulatory Surgery Center market is expected to witness high growth. The global U.S. Ambulatory Surgery Center Market is estimated to be valued at US$ 65.58 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis comprised The South region is expected to grow at the fastest pace during the forecast period. This can be attributed to the developing healthcare infrastructure, rising medical tourism and presence of major market players in the region.
Key players comprised Key players operating in the U.S. Ambulatory Surgery Center market are AmSurg Corp., Getinge Group, Tenet Healthcare, Regent surgery Health L.L.C, Covenant surgery Partners Inc, and Surgery Partners. AmSurg Corp. is one of the largest players in the market and has a strong network of ASCs across the US.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
