Global Statistics Representing Ambulatory Surgery Centers Market Scenario
Ambulatory surgery centers (ASC)–also known as outpatient surgery centers—are healthcare facilities that do not require an overnight hospital stay after the surgery performed. For the record, one of the first ASC was established in the U.S. in 1970 by two physicians, named Wally Reed and John Ford. The main aim behind the establishment was to provide convenient, comfortable, and timely surgical services to the patients. Since 1982, roughly 5,300 Medicare-certified facilities have been established in the U.S., which performs over 20 million surgical procedures every year.
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Changing Trends in ASCs Market
In the last few years, healthcare costs have been witnessing a significant surge, which is rounding up to be a major concern for the patients. To attend to the situation, a number of health care providers are arduously working to develop affordable treatment options, which is further adding fuel to the market growth. Recently, the U.S. passed the Patient Protection and Affordable Care Act, which aims at providing easy access to health coverage and reduced healthcare costs for outpatient surgeries, which is further boosting the market growth. Additionally, the leading players are engaging in mergers & acquisitions to sustain in the cut-throat competition. In January 2017, UnitedHealth Group's Optum acquired Surgical Care Affiliates, Inc. to strengthen its position in the ambulatory surgery centers market. Additionally, the emergence of multi-specialty ASC has proven to be an optimum solution as it offers various advantages, such as diversified surgery services, multiple reimbursement policies with wider coverage, and better equipment and facilities, which is further driving the market growth. Other factors driving the market growth include the increasing prevalence of chronic diseases, rising demand for ambulatory surgeries, and advancements in surgeries, such as endoscopy and laparoscopy.
Affordability and Favourable Reimbursement Policies
Globally, the rising geriatric population, increasing prevalence of chronic diseases, and rising favorable reimbursement and government policies are some of the factors driving the market growth. The geriatrics are highly susceptible to suffer from chronic diseases due to a weakened immune system, which is further boosting the need for more effective care management. Apart from this, ASC offers a number of benefits to patients by providing quality based services at lower prices than full-service hospitals. For instance, the U.S. Medicare saves around USD 2.5 billion annually due to ASCs, which is further driving the market growth. As per the American Hospital Association, the total number of ASCs increased from 624 million in 2008 to 675 million in 2012. The growth can be attributed to the growing adoption of technologically advanced techniques in outpatient centers.
The ambulatory surgery center market is bifurcated into type and ownership.
By Type, the ASC market is segmented into a dental surgery, ophthalmology, gynecology, orthopedic, plastic surgery, urology, single-specialty, multi-specialty centers, and others. The dental surgery segment is grabbing the largest share in the ASC market due to the increasing prevalence of tooth decay and infections and rising dental complications across the globe. The segment is witnessing significant growth in the developing regions on account of rising disposable income and increasing healthcare expenditure.
The ophthalmology segment is witnessing considerable growth due to the rising prevalence of ophthalmic diseases across the globe. Similarly, the orthopedic segment is estimated to show positive growth during the forecast period on account of the growing prevalence of osteoarthritis (degenerative bone disease), obesity, and osteoporosis due to a sedentary lifestyle. Lastly, the cardiovascular segment is forecasted to witness rapid growth due to the increasing prevalence of cardiovascular diseases. Also, ASCs provide cost-effective cardiovascular surgical procedures with considerably less recovery time, which is further driving the market growth. As per the Lancet, in 2015, around 2.1 million Indians suffered from heart diseases.
The single-specialty segment was valued over USD 15 billion in 2018 and is expected to grow at a significant rate during the forecast period. The rising number of single-specialty ambulatory surgical centers, increasing affordability, and lower risk of physician attrition are some of the factors driving the segment growth. Lastly, the multi-specialty centers are expected to gain momentum in the years to come.
By ownerships, the market is bifurcated into physicians and hospitals. The physician segment was valued at USD 13 billion in 2018 and is expected to grow with the fastest CAGR. The growth can be attributed to the availability of cost-effective procedures coupled with reimbursement facilities available in physician-owned ASCs. Moreover, the ability of the physicians to collaborate with orthopedic and neurology specialists for the treatment of several diseases is adding fuel to the market growth.
The hospitals and corporation segment is anticipated to grow at a CAGR of 6% by 2026 due to the development in authority structures of ambulatory surgical centers.
Regionally, the global ASC market is segmented into North America, Europe, Asia Pacific, and the Middle East and Africa.
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In North America, the U.S. ASC market contributed over 95% to the overall revenue in 2018. This can be attributed to the rising demand for ASCs, technological advancements, accessibility to non-invasive treatment, and favorable reimbursement policies. In 2017, around 5,603 Medicare-certified ASCs treated over 3.4 million patients. The number of outpatient cases performed in ASCs is expected to increase by 10% every year. In addition to this, the surgeons are inclining towards establishing private ASCs than employed in a hospital, which is further adding fuel to the market growth. Some of the key players operating in North America include Ambulatory Surgical Centres of America, Physicians Endoscopy, ASD Management, HCA Healthcare, Surgery Partners, and Covenant Surgical Partners.
Europe is second in the ASC market on account of the increasing burden of chronic diseases, rapidly rising geriatric population, growing developments in ASCs for faster diagnosis, enhanced patient care, raising awareness among people, and increasing affordability of the treatment. Additionally, the governments in the region are proactively working to encourage same-day discharge as it offers umpteen advantages, including shortened hospital stays, early mobilization of patients, reduced hospital-acquired infections, and improved quality of postoperative recovery. For instance, the National Health Service and the government of the U.K are actively promoting same-day surgery practice with an aim to perform around 75% of procedures in ASC in the years to come. Similarly, the British Association of Day Surgery (BADS) is educating the patients and professionals regarding ASC, which is further adding fuel to the market growth. In France, the ASC market is estimated to gain momentum during the forecast period due to the increasing prevalence of chronic diseases, such as cardiovascular diseases, diabetes, and cancer, among others. Additionally, the continuous progress in the medical sector along with incentive pricing for surgical procedures, are some of the factors driving the market growth in the country.
Asia Pacific is one of the fastest-growing ASC markets and will continue the same during the forecast period. In the region, the ASCs are offering umpteen benefits, including superior quality, safety, convenient scheduling, and reliable service, which is further boosting the market growth. In India, the ASC market is contributing over 15% to the overall revenue. This can be accredited to the increasing prevalence of cardiovascular and neurological diseases in the country. As per the Neurological Society of India, in 2014, around 30 million people suffered from neurological disorders. To attend to the situation, the government of India is undertaking several initiatives to ensure the easy availability of advanced medical devices in ASCs to treat several neurological and other diseases, which is further adding fuel to the market growth.
The China ASC market was valued at USD 2 billion in 2018 and is expected to grow with one of the highest CAGR on account of the rapidly growing geriatric population. According to the World Bank, around 11% of China’s population falls in the age group of 65 years and above.
In South America, Brazil is grabbing the largest share in the ASC market. This can be accredited to the rising adoption of ambulatory surgery centers and well-established healthcare infrastructure, increasing awareness regarding ASC, and growing government support in the country. Additionally, the government of Brazil is operating one of the largest universal health care systems, which is providing free services to over 200 million people. On the other hand, Argentina, Colombia, and Chile are expected to witness significant growth on account of improving healthcare facilities and rising disposable income of the middle-class population. However, lack of awareness regarding ASC in the countries is impeding the market growth to some extent.
The Middle East and Africa
The Middle East is emerging in the ASC market. The region is backed with the presence of some of the wealthiest nations, such as Saudi Arabia. Additionally, the governments in the region are increasing the healthcare expenditure and are actively working to introduce technologically advanced treatment options, such as ASCs. For instance, the UAE government is developing an ASC in Al Waqar hospital. Similarly, Qatar is developing a medical complex in Hamad Bin Khalifa medical city, which includes an ASC. Whereas, Africa is experiencing sluggish growth in the ASC market due to lack of awareness, low healthcare expenditure, and poor healthcare facilities.
The global ASC market is fragmented in nature. Several large and small-scale players are focusing on price, brand, and new product development to expand their consumer base. Some of the key players are engaging in acquisitions, collaborations, and partnerships to gain a competitive edge. For instance, in July 2017, HCA Healthcare acquired Highlands Regional Medical Centre in Sebring, Florida to expand its geographical reach. Similarly, Surgery Partners Inc. invested around USD 138 million for the acquisition of surgical facilities and related businesses during 2016. Apart from this, the market is consolidated with the presence of Envision Healthcare Corporation, Tenet Healthcare Corporation, HCA Healthcare, Inc., MEDNAX Services, Inc., TeamHealth, UnitedHealth Group, Quorum Health Corporation, Surgery Partners, Novena Global Healthcare Group, CHSPSC, LLC., Terveystalo-konserni, SurgCenter, Healthway, Prospect Medical Group, Eifelhöhen Klinik AG, and Edward-Elmhurst Health.
Ambulatory Surgery Centers Market Segmentation
By Specialty Type
- General surgery
- Obstetrics or Gynaecology
- Plastic surgery
- Hospital only
- Physician only
- Corporation only
- Joint ventures
- Hospital and physician
- Physician and corporation
- Hospital and corporation.
- North America
- South America
- Asia Pacific
- Middle East & Africa
Our Report Covers
- Historical inferences, findings & analysis of the market from 2016–2018
- Projections and performance forecast analysis for the future from 2019–2026
- Production and consumption point of view (POV) analysis
- Market drivers, restraint and opportunity analysis, to define market dynamics covering
- Industry, regulatory, innovation, technological & pricing trends
- Comprehensive competitive landscape mapping with recent development covering market
- Leadership, competence, sustainability, and prospects
Frequently Asked Questions (FAQs)
Rising geriatric population, increasing prevalence of chronic diseases, and rising favorable reimbursement and government policies are the key factors expected to drive the Ambulatory Surgery Centers Market during the forecast period.
The U.S is expected to hold the highest market share in Ambulatory Surgery Centers Market.
Dental Surgery Segment is expected to be leading segment in Ambulatory Surgery Centers Market during the forecast period.
HCA Healthcare Inc., MEDNAX Services Inc., TeamHealth, UnitedHealth Group, Quorum Health Corporation, Surgery Partners, CHSPSC are the top players in Ambulatory Surgery Centers Market.
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