U.S. Ambulatory Surgery Center Market Growth & Trends
The U.S. ambulatory surgery centers market size is expected to reach USD 58.6 billion by 2030, expanding at a CAGR of 5.9%, according to a new report by Grand View Research, Inc. The cost-effectiveness of procedures performed at ASCs along with the rising geriatric population, in turn contributing to demand for surgeries, is expected to fuel the market over the next few years. As per a report by the Ambulatory Surgery Center Association, healthcare costs in the U.S. have been reduced by USD 38 billion due to the availability & use of ambulatory surgery centers. Healthcare expenditure in ambulatory surgery centers is quite lower compared to hospitals. A report by OR manager based on CMS statistics revealed that 57 million surgical procedures were performed in the U.S. in 2020, wherein less than 20% of the procedures were performed in outpatient hospital facilities indicating a shift in demand from hospitals to ambulatory surgery centers.
Ambulatory surgery centers are expected to witness high growth after the COVID-19 pandemic, thus creating further opportunities for ASCs. Healthcare providers & the government are undertaking various initiatives to facilitate the increasing demand for minimally invasive procedures at ASCs. For instance, the latest favorable updates in reimbursement policy by CMS and collaborations by Healthcare Outcomes Performance Company and Ascension Florida and Gulf Coast for the development of ambulatory surgery centers are some of the factors expected to contribute to post-COVID-19 growth of the market.
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U.S. Ambulatory Surgery Center Market Report
U.S. Ambulatory Surgery Center Market Report Highlights
- The orthopedics segment held the largest market share in terms of revenue during 2021. However, the otolaryngology segment is expected to register the fastest growth over the forecast period due to factors such as increasing demand from pediatric patients for ENT procedures and a high number of otolaryngologists practicing in the country.
- Top healthcare providers in the market are planning to expand in the market through strategies such as partnerships & mergers and acquisitions. For instance, in March 2019, Humana and Towson-a Maryland-based SurgCenter Development-entered into an agreement to add 100+ SurgCenter Development sites to Humana’s national provider network, to offer services such as the total knee, hip, and shoulder replacements in an ASC setting.
- Technological advancement, especially in the field of surgery, is one of the major factors in providing quality treatment at the ASCs. For instance, the robotic surgery system for minimally invasive surgery aids surgeons during complex surgical procedures, allowing high control, flexibility, & accuracy, and is expected to have high demand from the ASCs.
