July 15, 2024

U.S. Ambulatory Surgery Center Market Dynamics: Navigating Healthcare Trends

U.S. Ambulatory Surgery Center Market

Market Overview:
Ambulatory surgery centers or ASCs are modern healthcare facilities focused on providing same-day surgical care, including diagnostic and preventive procedures. ASCs are an important part of the U.S healthcare system as they provide cost-effective and high-quality care for low risk and less complicated procedures such as cataract removal, colonoscopy, orthopedic procedures among others. ASCs offer advantages over hospital-based outpatient departments such as shorter wait times, individualized care approach, and lower procedure costs. They play a vital role in reducing strain on hospitals by performing approximately half of all same-day surgeries in the U.S.

U.S. Ambulatory Surgery Center Market is estimated to be valued at US$ 65.58 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends fueling growth in the U.S. ambulatory surgery center market is the increasing focus on healthcare infrastructure development projects across various states. Public and private expenditure towards construction of new ambulatory surgery centers is projected to rise considerably over the forecast period. For instance, Ohio state recently approved Certificate of Need (CON) applications for 11 new ambulatory surgery centers with a planned investment of over US$ 80 million. ASC development is being strongly encouraged to boost healthcare access and promote competition in outpatient sectors. This rising infrastructure investment into ASC facilities is expected to have a substantial influence on market revenues during the forecast period.

Porter’s Analysis
Threat of new entrants: Low capital requirements and economies of scale enjoyed by existing players make it difficult for new players to enter this market.
Bargaining power of buyers: ASCs face moderate bargaining power from buyers as there are many players operating in the market.
Bargaining power of suppliers: ASCs face low bargaining power from suppliers due to the availability of many suppliers for key resources like equipment and medication.
Threat of new substitutes: There exists low threat from substitutes as ASCs offer surgery services at lower costs compared to inpatient hospital facilities.
Competitive rivalry: The U.S. ASC market is consolidated with major players competing on the basis of quality, service, price, and scale of operations.

Key Takeaways
The global U.S. Ambulatory Surgery Center Market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing number of outpatient surgeries and rising healthcare costs.

Regional analysis
The West region dominated the U.S. ASC market in 2023 due to growth in healthcare infrastructure and presence of key market players. However, the South region is projected to grow at the fastest pace during the forecast period owing to rising geriatric population requiring surgical procedures.

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. AmSurg Corp. specializes in gastroenterology and holds the largest share in the U.S. ASC industry.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it