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The U.S. ambulatory surgery center (ASC) market provides ambulatory medical care for patients who require outpatient surgery or procedures. ASCs allow patients to avoid hospital stays for minor surgeries and procedures, reducing healthcare costs. The ASC industry implements advanced technologies to perform complex procedures with less recovery time, enabling patients to receive care close to home.
The global U.S. Ambulatory Surgery Center Market is estimated to be valued at US$ 65.58 billion in 2024 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 increasing geriatric population is one of the key drivers propelling the growth of the U.S. ASC market. According to the U.S. Census Bureau, by 2030, all baby boomers will be older than 65 years. The geriatric population is more prone to chronic and degenerative conditions and requires surgeries and treatments. Moreover, with age, the wait time for surgeries and procedures increases in hospitals due to high demand. ASCs provide timely outpatient care required for the geriatric population in a cost-effective manner compared to inpatient hospital stays. The growth in the aging population suffering from target conditions will continue to drive the demand for ambulatory surgery centers in the U.S. during the forecast period.
SWOT Analysis
Strength: The ambulatory surgery centers provide convenience to patients with shorter waiting time and flexibility in scheduling procedures and surgeries. Their services are cost-effective as compared to hospitals.
Weakness: Ambulatory surgery centers lack advanced equipment and facilities as compared to hospitals. They cannot handle complex and risky procedures involving overnight stays.
Opportunity: Growing aging population and rise in chronic diseases are increasing the demand for various surgical procedures. This opens up opportunities for ambulatory surgery centers to cater to such growing needs.
Threats: Stringent regulations related to licenses, healthcare reforms can increase operational costs for ambulatory surgery centers. Growing competition from hospitals expanding their outpatient services also poses threat to their market share.
Key Takeaways
The U.S. ambulatory surgery center market is expected to witness steady growth over the forecast period owing to rising demand for cost-effective healthcare services. The growing prevalence of chronic diseases and rising geriatric population susceptible to various clinical conditions will drive the market. The global U.S. Ambulatory Surgery Center Market is estimated to be valued at US$ 65.58 billion in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.
Regional analysis: The South region holds the major share in the market currently due to growing number of ambulatory surgery centers and favorable reimbursement scenario. States like Texas and Florida are projected to maintain their dominance due to supportive healthcare infrastructure and initiatives to promote outpatient surgeries.
Key players: 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. These major players are focusing on inorganic growth strategies like mergers, acquisitions and partnerships to expand their service offerings and geographic footprint.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
