FELTON, California, March 6, 2019 /PRNewswire/ -- The global ambulatory surgery centers market is expected to reach USD 93.46 billion by 2025. The demand for outpatient surgery centers is expected to grow at a CAGR of 5.5% during 2017 - 2025. The growth is due to the increasing occurrence of chronic diseases, rising geriatric population, and surging healthcare cost.
Surgicenters specialize in same-day diagnostics, surgery, and preventive procedures and provide quality service at optimal cost. According to the Ambulatory Surgery Center Association (ASCA), procedures performed in ASCs are around 50.0% cheaper than Hospital Outpatient Department (HOPD). The significant cost reduction in the diagnosis, surgical procedures, and preventive treatment is expected to promote the utility of ambulatory surgery centers in the coming years.
Rising government expenditure towards the development of ambulatory facilities to increase accessibility and reduce the cost of treatment will also fuel growth in the market. In the U.S., the government initiated Medicare's Hospital Readmissions Reduction Program under the Affordable Care Act. This initiative was started with the objective to provide primary care to patients at accessible point-of-care centers and reduce avoidable costs including hospital stay.
ASCs are used as alternatives for the surgery of various diseases including cardiovascular disease, cataract, chronic pulmonary disorder, and stroke. A wide-scale prevalence of these diseases adds to the growth prospect of surgicenters as patients look for affordable and convenient medical care. According to the World Health Organization (WHO), in 2016, around 17.9 million people died due to cardiovascular diseases, which accounted for around 31.0% of the total global deaths during the year.
Browse full research report with TOC on "Ambulatory Surgery Centers (ASCs) Market Size And Forecast, By Application (Ophthalmology, Orthopedics, Gastroenterology, Pain Management/Spinal Injections, Plastic Surgery), By Region, And Trend Analysis, 2019 - 2025" at: https://www.hexaresearch.com/research-report/ambulatory-surgery-centers-ascs-market
Shorter waiting time and low diagnosis cost are projected to promote the utility of outpatient surgery centers on a global level. According to the Healthcare Cost and Utilization Project (HCUP), in 2014, more than 17 million surgeries were performed in ambulatory surgery centers.
The inclusion of accessible diagnostics coupled with quality surgeons and staff members is expected to be a key value proposition for ASCs. According to a report by the Medicare Payment Advisory Commission, the number of Medicare-certified ASCs are increasing on account of their cost-effective, quality and efficient outpatient treatment.
The gastroenterology market is expected to be the fastest growing market with a CAGR of more than 6.5% from 2017 to 2025. Globally, a number of people suffer from gastrointestinal diseases. According to the data published by the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), in 2010, around 60 million to 70 million people suffered from gastrointestinal conditions and 48.3 million patients visited ambulatory care centers.
North America is a key market for same day surgery centers market where increasing government funding to advance primary care services and increasing coverage for outpatient services has spurred growth in the market. In 2017, North America accounted for around 47.0% of the global surgicenters market. On the other hand, the Asia Pacific region is expected to be the fastest growing market having a considerable population and an increasing prevalence of chronic diseases.
Over the coming years, same day surgery centers are expected to witness competition from large hospital chains entering the space by launching their own surgicenters. Quality surgeons and efficient operating procedures to expedite surgical procedures are expected to be the focus area of ambulatory surgery centers in the coming years.
In the coming years, the sector is expected to witness mergers & acquisitions as companies aim to consolidate market presence. For instance, in January 2017, UnitedHealth Group's Optum, health services company, acquired Surgical Care Affiliates, Inc., an ambulatory surgery center and surgical hospital provider. The acquisition positions the resulting entity as a comprehensive provider of ambulatory care services.
Some of the key players in the market include 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.
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Hexa Research has segmented the ambulatory surgery centers market report based on application and region:-
- Segmentation by Application
- Pain Management/Spinal Injections
- Plastic Surgery
- Segmentation by region
- North America
- Asia Pacific (Excluding South East Asia)
- South East Asia
- Rest of the World
- Key players analyzed:
- Envision Healthcare Corporation
- Tenet Healthcare Corporation
- HCA Healthcare, Inc.
- MEDNAX Services, Inc.
- UnitedHealth Group
- Quorum Health Corporation
- Surgery Partners
- Novena Global Healthcare Group
- CHSPSC, LLC.
- Healthway Medical Group
- Prospect Medical Group
- Eifelhöhen Klinik AG
- Edward-Elmhurst Health
About Hexa Research
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
SOURCE Hexa Research