by Ambulatory surgical centers (ASCs) are modern medical facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. ASCs offer a wide range of outpatient procedures for specialties like ophthalmology, orthopedics, gastroenterology, pain management, and podiatry using minimally-invasive techniques. The shift towards less invasive procedures for conditions that previously required overnight hospital stays has led to significant preference for ASCs due to benefits like lower costs, reduced infections, and quicker recovery times for patients.
The global Ambulatory Surgical Center Market is estimated to be valued at US$ 96.20 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the ambulatory surgical center market is the increasing number of outpatient surgeries being performed. This is due to various factors such as advancements in minimally invasive surgical techniques, desire for better patient outcomes, reimbursement policies favoring outpatient care, and the high costs associated with inpatient care. According to the American Hospital Association, 70% of all surgeries performed in 2020 were done on an outpatient basis at either ASCs or hospitals. The percentage of outpatient surgeries is expected to further increase during the forecast period.
Another key trend is the expanding scope of surgeries being performed at ASCs. Traditionally, ASCs focused mainly on lower risk procedures such as endoscopy, eye, and pain management surgeries. However, as ASC capabilities have increased with advanced equipment and trained staff, more complex surgeries are now being transitioned from inpatient to outpatient settings. Procedures such as joint replacements, spinal surgeries, and certain cancer surgeries that previously required hospital admissions can now often be safely performed at ASCs, driving market growth.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established value chains lower barriers to entry. However, large players have scale advantages and customer loyalty.
Bargaining power of buyers: Buyers have high bargaining power given the large number of ASCs. They can negotiate on price and demand high quality services.
Bargaining power of suppliers: A few large medical equipment and pharmaceutical suppliers dominate the market. This gives them bargaining power over pricing and contracts.
Threat of new substitutes: Non-hospital settings like physicians’ offices are alternatives but do not offer the same scale and specialized services as ASCs.
Competitive rivalry: Intense competition exists between ASC chains and independent centers. Key differentiators are location, quality, cost, customization and relationships with insurers and providers.
Key Takeaways
The Global Ambulatory Surgical Center Market Size is expected to witness high growth.
Regional analysis: North America holds the major share in the global ASC market mainly due to the large number of ASCs, improving reimbursement policies, and availability of advanced medical technology. Growth in the Asia Pacific region is expected to be fastest due to increasing medical tourism and growing healthcare infrastructure.
Key players: Key players operating in the Ambulatory Surgical Center market are Kansai Paint Co., Ltd., Axalta Coating Systems, Kyoei Vietnam Co., ltd, Nippon Paint Holdings Ltd., PPG Industries, Inc., B.L Downey, Dornauer-Grillitsch GmbH, KAPCO Manufacturing Inc., BASF Coatings Gmbh, and DuPont de Nemours, Inc.
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