LONDON--(EON: Enhanced Online News)--Technavio analysts forecast the global ambulatory surgical centers (ASC) market to grow at a CAGR of 4.36% during the forecast period, according to their latest report.
“These procedures are fast becoming standard techniques in general surgery due to the increasing technological advances and improving the skill set of healthcare professionals. The move toward reducing healthcare expenditure without compromising the quality will significantly increase the adoption of these procedures”
The research study covers the present scenario and growth prospects of the global ambulatory surgical centers market for 2016-2020. To calculate the market size, the report considers the revenue generated from the service support given by ambulatory surgical centers to perform surgeries in individuals with chronic ailments.
The global ambulatory surgical centers market is highly fragmented with top four leading companies, which include AmSurg, United Surgical Partners, Surgery Partners, and Surgical Care Affiliates, accounting for approximately 15%-16% of the overall market in 2015.
The highly fragmented nature of the market has led to increased consolidation of the ASC industry over the last two to three years. This consolidation is attributed to reimbursement changes, changing regulatory environment, and cost pressures for ASCs providing various surgical options to end-users.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global ambulatory surgical centers market:
- Rapid development in outpatient services increases demand for ASCs
- Rising popularity of minimally invasive surgeries
- Increasing incidence of chronic diseases
Rapid development in outpatient services increases demand for ASCs
The advances in ASCs or outpatient healthcare facilities are on the rise in most of the developing countries. The advances have made a transformative model for surgical services in healthcare delivery due to the highly-regulated environment to ensure safety and quality. The growing technical advances in terms of diagnosis and procedures with less invasive techniques, such as laparoscopy, arthroscopy, and gastrointestinal surgeries which drive the outpatient procedures. The procedures performed years ago that required major incisions, extended convalescence, and long-acting anesthetics can now be performed through techniques with minimal recovery time by utilizing short-acting anaesthetics.
According to Barath Palada, a lead orthopedics and medical devices research analyst at Technavio, “A rise in the number of ASCs is growing in response to the demand from the key participants in surgical care; patients, physicians, and insurers. The demand for ASCs has been made possible by innovation in technology and is primarily driven by patient's satisfaction, high level of quality, cost saving, and efficient physician practice that benefits everyone.”
Rising popularity of minimally invasive surgeries
Over the years, minimally invasive surgeries have gained popularity. The low-risk complications and benefits associated with reduced cost and less hospital stay have driven the growth of MIS market. Cardiac surgery is one of the largest segment where the market witnessed a maximum number of minimally invasive surgeries.
“These procedures are fast becoming standard techniques in general surgery due to the increasing technological advances and improving the skill set of healthcare professionals. The move toward reducing healthcare expenditure without compromising the quality will significantly increase the adoption of these procedures,” says Barath.
Increasing incidence of chronic diseases
A sedentary lifestyle negatively affects the homeostasis of the body, making people susceptible to many disorders such as CVDs, obesity, joint pains, and other chronic illnesses. The recognition of the remarkable advantages of minimizing surgical pain and trauma has resulted in the expansion of minimally invasive surgical procedures for various ailments. Treatment of all these diseases has become critical, leading to increased use of minimally invasive techniques like radiofrequency ablation devices.
Radiofrequency ablation devices are increasingly used to treat chest pain, joint pain, dermatological conditions, and liver and kidney problems. Also, endoscopic procedures and surgical robots have enhanced the precision and ability of surgeons for performing minimally invasive procedures to treat such chronic disorders in ambulatory surgical centers.
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