SELBYVILLE, Del., April 13, 2021 /PRNewswire/ -- According to latest report "U.S. Ambulatory Surgical Center Market by Ownership (Physician Only, Hospital Only, Corporation Only, Physician & Hospital, Physician & Corporation, Hospital & Corporation), Surgery Type (Dental, Otolaryngology, Endoscopy, Obstetrics/Gynecology, Ophthalmology, Orthopedic, Other, Neurology, Plastic Surgery, Podiatry), Specialty Type (Single Specialty, Multi-specialty), Service (Diagnosis, Treatment), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of ambulatory surgical centers in the United States will cross $42 billion by 2027. Key players are concentrating on service portfolio expansion, collaborations, agreements and strategic partnerships to earn greater share and competitive advantage in the market.
The rising elderly population base, prone to numerous disorders due to functional and anatomic changes in the body, will act as a positive aspect for market growth. Tobacco and alcohol consumption, lack of physical activity as well as proper nutrition among the U.S. population base, owing to inactive and unhealthy routine surges the rate of different chronic diseases. In addition, the geriatric population necessitates effective management, as well as care as elderly above 65 years and above, are extremely vulnerable to different chronic conditions. Therefore, proper treatment and diagnosis are required that surge the adoption rate of ASCs among the elderly.
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The physician & hospital segment in the U.S. ambulatory surgical center market will witness around a 10% growth rate till 2027 as this ownership model is a joint venture between physicians and hospitals to provide effective patient management. Physicians are benefited from these ventures primarily from the increased financial stability and better insurance contracts for reimbursement, thereby augmenting the segment progression. Additionally, physician & hospital ownership maintain patient satisfaction and further provide better quality care that proves advantageous for the overall market expansion.
The neurology segment captured around 10.5% of the U.S. ambulatory surgical center market share in 2020 led by the advancements in minimally invasive technologies and increasing demand for neurological procedures. Also, the presence of highly trained neurosurgeons in ASCs will boost segment growth.
The U.S. ambulatory surgical center market for the multi-specialty segment was valued at USD 6.9 billion in 2020. Different types of services offered by multi-specialty ASCs provide a way for diversification and revenue growth. Thus, it also allows multi-specialty ASCs to diversify risks. If one specialty suffers loss, the center may still generate revenue from other specialties, keeping them in business. Many ambulatory surgical centers are turning to multi-specialty models in order to achieve profitability, thus driving the segment expansion.
The diagnosis segment in the U.S. ambulatory surgical center market accounted for over USD 4 billion in 2020. The growing prevalence of chronic diseases such as cancer and cardiovascular diseases has surged the demand for disease diagnosis. Patient visits in ASCs for diagnostic procedures are increasing due to the availability of advanced medical equipment and cost-effectiveness as compared to hospitals.
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Some of the prominent companies operating in the market include Ambulatory Surgical Centres of America, AMSURG (Kohlberg Kravis Roberts & Co. L.P.), ASD Management, Constitution Surgery Alliance, Elite surgical affiliates (Nobilis Health Corp.), HCA Healthcare, Medical Facilities Corporation, NueHealth Enterprises, Physicians Endoscopy, Pinnacle III, Surgery Partners, Surgical Care Affiliates, and Tenet Healthcare Corporation among others. These market leaders are executing several growth strategies such as acquisitions, and partnerships, in order to gain financial stability.
Some major findings of the U.S. ambulatory surgical center market report include:
- The increasing geriatric population base and rising prevalence of chronic diseases across the country will act as major drivers for the market progression.
- Growing demand for minimally invasive treatments for better patient management and care further accelerates the industry expansion.
- The COVID-19 pandemic had a significant impact on the industry. Many parts of the world, including the U.S., imposed lockdown in order to curb community transmission of the COVID-19 disease.
- Reduced risk of healthcare-associated infections in ambulatory surgical centers as compared to hospital settings will favor the market value.
- However, the high cost of medical equipment used for several procedures and treatments may hinder the market demand to a certain extent.
Table of Contents (ToC) of the report:
Chapter 3. U.S. Ambulatory Surgical Center Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2027
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls and challenges
3.4. Growth potential analysis
3.4.1. By ownership
3.4.2. By surgery type
3.4.3. By specialty type
3.4.4. By service
3.5. COVID-19 impact analysis
3.6. Porter's analysis
3.7. Competitive landscape, 2020
3.8. PESTEL analysis
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U.S. Ambulatory Surgical Center Market Growth Predicted at 10.9% Through 2027: GMI
The neurology segment captured around 10.5% of the U.S. ambulatory surgical center market share in 2020 led by the advancements in minimally invasive technologies and increasing demand for neurological procedures.
SOURCE Global Market Insights, Inc.