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The Ambulatory Surgery Centre Market size is forecast to reach $6.95 billion by 2025, growing at a CAGR of 6.37% during the forecast period 2020-2025. Ambulatory surgery centres or outpatient surgery centers are alternatives to hospital-based outpatient procedures that provide Health care facilities. These centers are cost-effective and offer Quality care & positive patient outcome. Rising healthcare costs and increasing demand for minimally invasive surgeries are the major factors driving the growth of the market. Technological developments in surgical devices and equipment and surgeon’s control over the choice of such equipment is set to further enhance the overall market demand for the Ambulatory Surgery Centre Market during the forecast period 2020-2025.
Ambulatory Surgery Centre Market Segment Analysis – Products & Services Type
The Clinical IT Solutions segment held the largest share in the Ambulatory Surgery Centre Market in 2019 and is estimated to grow at a CAGR of 7.2% during the forecast period 2020-2025. e-Prescribing (eRx) is the electronic transmission of a drug prescription directly to a pharmacy through EHR technology, or via a standalone electronic prescribing suite. eRx has potential advantages in making prescribing more efficient and safer: calls from the pharmacist to clarify prescriptions could be significantly reduced; it’s less likely scripts will be filled incorrectly, and clinicians should receive notifications at the point of care for potential interactions with medications prescribed by other physicians. Telehealth solutions come in all shapes and sizes. Telehealth software allows healthcare professionals to deliver health services, education or training, and health information remotely, using telecommunications technology. Health professionals might use a telehealth solution to train healthcare staff, engage and educate patients about a preventative health topic online, or remotely monitor a patient’s recovery after hospital discharge. Clinical IT Solutions is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
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Ambulatory Surgery Centre Market Segment Analysis – Surgery Type
The Cardiovascular segment held the largest share in the Ambulatory Surgery Centre Market in 2019. Cardiovascular surgery treats diseases and conditions of the heart and the blood vessels of the entire body. Common cardiovascular procedures include coronary bypass surgery, aortic or mitral valve replacement or repair, and aneurysm repair. For patients undergoing cardiovascular surgery, fresh blood, and routine platelet transfusions are not necessary. Patients undergoing cardiopulmonary bypass often develop thrombocytopenia and platelet function abnormalities. However, most patients do not experience unusual bleeding and the extent of bleeding is not directly related to these hemostatic abnormalities. Neurosurgery, or neurological surgery, is the medical specialty concerned with the prevention, diagnosis, surgical treatment, and rehabilitation of disorders which affect any portion of the nervous system including the brain, spinal cord, central and peripheral nervous system, and cerebrovascular system. The Cardiovascular are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
Ambulatory Surgery Centre Market Segment Analysis – Geography
North America dominated the Ambulatory Surgery Centre Market in 2019 with a share of more than 43.7%, followed by the Asia Pacific owing to the increasing government funding to advance primary care services and rising coverage for outpatient services. The rise in the prevalence of the chronic disease, high healthcare expenditure, and increasing hospital readmissions is increasing the growth of the ambulatory surgery centre market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the increasing demand for surgical procedures performed in a same-day surgical center and favorable reimbursement policies. Moreover, several government initiatives and technological advancements coupled with a secured healthcare infrastructure are increasing the growth of the ambulatory surgery centre market in this region.
Ambulatory Surgery Centre Market Drivers
Rise in Chronic Disease
The rise in chronic disease is increasing the ambulatory surgery centre market. Chronic diseases tend to occur in older adults and can usually be controlled but not cured. The most common types of chronic diseases are cancer, heart disease, stroke, diabetes, and arthritis. It generally cannot be prevented by vaccines or cured by medication, nor do they just disappear. Arthritis and related conditions are the leading cause of disability in the US affecting nearly 43 million Americans. Although cost-effective interventions are available to reduce the burden of arthritis, they are underused. Regular, moderate exercise offers a host of benefits to people with arthritis by reducing joint pain and stiffness, building strong muscle around the joints, and increasing flexibility and endurance. The contemporary treatment methods increase the efficiency of pre-crisis adaptive responses, but simultaneously they equalize the crisis to a level, which is insufficient for complete after-crisis alignment of body defenses. Thus, increasing the growth of the ambulatory surgery centre market during the forecast period 2020-2025.
Surge in healthcare costs, and advancements in technology
The surge in healthcare costs and advancements in technology is increasing the ambulatory surgery centre market. The increase in health care costs can be attributed to a variety of different factors such as the aging population, defensive medicine, hospital costs increases, changes in insurance, and much more. A big contributing factor to the increase in cost is medical technology. Medical technology includes new practices such as robotic surgery, telemedicine, electronic medical records, and a variety of new drugs on the market. In many cases these new technologies increase the costs of health care, however, they can also help lower the costs of health care. The development of new vaccines is set to be pricey upfront, but in the long run, they will help stop the spread of viruses and disease and therefore lower treatment costs. New technology could also include better screening for a disease which would then lead to better treatment. Thus, increasing the growth of the ambulatory surgery centre market during the forecast period 2020-2025.
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Ambulatory Surgery Centre Market Challenges
Lack of professionals, reimbursement, and rising healthcare costs
Some of the factors that is set to impede the growth of the Ambulatory Surgery Centre Market are lack of professionals, reimbursement, and rising healthcare costs.
Ambulatory Surgery Centre Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Ambulatory Surgery Centre Market. In 2019, the Ambulatory Surgery Centre Market share is consolidated by the top ten players present in the market. Ambulatory Surgery Centre Market, the top 10 companies are Envision Healthcare Corporation, Terveystalo, Tenet Healthcare Corporation, MEDNAX Services Inc., TeamHealth, Quorum Health Corporation, Physicians Endoscopy, AmSurg, UnitedHealth Group, Surgery Partners, and Healthway Medical Group among others.
In June 2017, Physicians Endoscopy partnered with Central Jersey Ambulatory Surgical Centre. This strategy has strengthened companies’ operations and broadens its customer base.
In May 2017, AMSURG acquired LASIK Centre & Horizon Eye Specialists that is an Arizona based ophthalmology practice. This includes four practice locations, three optical centers, and an ambulatory surgery centre that will ensure the firm’s long-term growth by introducing a new practice partnership model.
North America dominated the Ambulatory Surgery Centre Market in 2019 owing to the increasing government funding to advance primary care services and rising coverage for outpatient services. The Ambulatory Surgery Centre Market scope for different regions will be provided in the final report.
The surge in healthcare costs and advancements in technology are likely to aid in the market growth of the Ambulatory Surgery Centre Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Ambulatory Surgery Centre Market report.
Lack of professionals, reimbursement, and rising healthcare costs is poise to create hurdles for the Ambulatory Surgery Centre Market.
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