U.S. Ambulatory Surgical Centers (ASCs) Market Highlights Over 2019 - 2028
The U.S. ambulatory surgical centers market is estimated to garner a revenue of USD 33,024.13 million in 2028, up from USD 30,000 million in 2019 by growing at a CAGR of 6.9% over the forecast period, i.e., 2021 – 2028. The growth of the market can be primarily attributed to the growing healthcare expenditure in the region, along with the increase focus of the government to provide adequate medical facilities to remote locations in the country. According to the World Health Organization (WHO), as of 2018, 16.416 % of the GDP was spent on the healthcare sector in North America. Additionally, increasing overall healthcare expenditure in the United States backed by high share of aging population, increasing prevalence of diseases, and hike in the price of surgeries in hospitals, are some of the major factors boosting the market growth. Ambulatory surgical centers are equipped with advanced surgical equipment that is achieved through rapid technological advancements over the years. Further, high-quality medical services offered by the ASCs is further expected to drive their demand in the upcoming years.
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High occurrence of chronic diseases among older population is also estimated to fuel the demand for ambulatory surgical centers for the treatment of gastrointestinal, eye, musculoskeletal, and others diseases. In other statistics by the World Bank, in 2019, the share of population aged 65 years and above was recorded to be 16.21% of the total population in the U.S. Furthermore, increasing incidences of chronic diseases in the country is another major factor expected to promote the market growth. According to the data provided by the Centers for Disease Control and Prevention (CDC), currently, 6 in 10 adults in the country are suffering from a chronic disease. Additionally, 4 in 10 adults are said to have more than 2 chronic diseases. According to the other report by CDC, cardiovascular disease accounts for 1 death every 36 seconds in the United States. Additionally, an estimated 655,000 Americans die due to cardiovascular diseases each year.
U.S. Ambulatory Surgical Center Market Regional Synopsis
Regionally, the U.S. Ambulatory Surgical Center market is segmented into five major regions including West US, North East US, South East US, South West US, and Midwest US. The market in West US region is estimated to witness growth by a highest CAGR of 7.7% over the forecast period owing to the presence of a large number of ASCs in the states, such as California, and Washington, backed by the increasing prevalence of obesity, asthma, diabetes, hyper tension, and other fatal diseases amongst the individuals. According to the Ambulatory Surgical Centers Association, California has the highest number of Medicare-certified ambulatory surgical centers than any other U.S. state. In 2021, the state recorded 817 Medicare-certified ambulatory surgical centers. Moreover, increasing burden of heart patients, fueled by up-surge in lifestyle diseases in the region, is estimated to encourage the market growth. The market in the North East US is projected to garner the highest share of 26.09% along with a revenue of USD 8,616 million in 2028, up from USD 7,890 million in 2019. This can be attributed to the high geriatric population in the region, along with increasing demand for cost-effective and selective surgeries. According to the United States Census Bureau, the population aged 65 years and over in New Jersey recorded to be 16.6% in the year 2019. Moreover, in other statistics by the Ambulatory Surgical Centers Association, the number of Medicare-certified ambulatory surgical centers in the North East U.S. is on the rise, with 248 ambulatory surgical centers in New York, 259 centers in New Jersey, and 342 centers in Maryland.
Growth Drivers and Challenges Impacting the Growth of the U.S. Ambulatory Surgical Center Market
- Growing Healthcare Expenditure
- Increasing Demand for Cost Effective Surgeries
- Rising Geriatric Population
- Declining Reimbursements
- Presence of Advanced Hospitals and Positive Customer Response towards Hospitals
U.S. Ambulatory Surgical Center Market Segmentation Synopsis
The U.S. ambulatory surgical center market is divided by type into hospital affiliated, and freestanding ASCs, out of which, the freestanding ASCs segment held the largest share of 71.91% in the year 2019 and is estimated to generate a revenue of USD 24,508.2 million in 2028, up from USD 21, 572.1 million in 2019. This segment is also anticipated to grow with the highest CAGR of 7.3% during the forecast period, as the freestanding ASCs offer competitive pricing, and can be accessed by patients easily. On the basis of specialty, the market is bifurcated into single-specialty and multi-specialty centers, out of which, the single specialty centers segment is anticipated to hold the largest market share and further grow with the highest CAGR of 7.1% throughout the forecast period. The market is segmented based on ownership into corporate-physician, hospital-physician, corporate-hospital, corporate only, physician only, and hospital only, out of which, the physician-only segment is expected to attain the largest market revenue of USD 21677.2 million by the end of 2028. On the basis of treatment, the market is segmented into orthopedic surgeries, dental, ophthalmology surgeries, endoscopy, obstetrics/gynecology surgeries, cardiovascular surgeries, pain management, ENT surgeries, neurosurgery, gastrointestinal surgery, plastic surgery, and others, out of which, the gastrointestinal segment held the largest market share in 2019 and is further expected to reach USD 6762.4 million by the end of 2028.
Top Featured Companies Dominating The Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the U.S. ambulatory surgical center market that are included in our report are TH Medical, AMSURG Corp. (Envision Healthcare), Surgical Care Affiliates, SurgCenter, Regent Surgical Health, ASD Management, Ambulatory Surgical Centers of America, Physicians Endoscopy, LLC, Surgery Partners, and others.