Market Trends of Ambulatory Surgery Center Industry
Orthopedics Segment is Expected to Account for the Largest Market Share During the Forecast Period
Orthopedic surgery is performed on the musculoskeletal systems in the body due to some diseases, disorders, trauma, accidents, or any condition, which includes bones, joints, and adjacent soft tissues. The most common orthopedic surgeries are arthroscopy, soft tissue repair, hip, and knee or any other joint replacement, and bone fracture repair, among others.
The orthopedic segment is expected to grow significantly over the study period due to the growing burden of orthopedic surgery and rising strategic initiatives by market players. The volume of knee and hip replacement surgeries increased in recent years, which has positively impacted the growth in the segment in the electrosurgical devices market. For instance, as per the June 2021 report of the Canadian Institute of Health Information, 63,496 hip replacements and 75,073 knee replacements were performed in Canada. Moreover, there was an average increase of about 5% in recent years in knee and hip replacement procedures in the above-mentioned country. Likewise, in the State of Musculoskeletal Health 2021, a report published by Versus Arthritis organization shows that approximately 118,316 hip replacements and 123,690 knee replacements were carried out in the United Kingdom. Hence, with the high volume of orthopedic procedures, there may be a huge demand for ambulatory surgery centers, thus driving the growth of the studied segment.
Additionally, strategic initiatives taken by the market players, such as partnerships, mergers, and acquisitions, among others, are expected to drive segment growth. For instance, in February 2022, EMU Health and NYU Langone Orthopedics entered into a collaboration to launch a new Outpatient Joint Replacement Program to provide specialized joint replacement surgery in an ambulatory care center, thereby fueling the segment growth. Thus, due to the above-mentioned factors, such as the high volume of orthopedic surgeries, and increasing market player strategies, the studied segment is expected to contribute to the significant growth of the market.
North America is Expected to Hold a Significant Share in the Ambulatory Surgery Center Market
The primary driving factors for the growth of the North American ambulatory surgery center (ASC) market are the increasing prevalence of chronic diseases, increasing demand for surgeries, increasing product launches, and rising strategic initiatives by key market players. For instance, the article published by BMC Journal in April 2021 mentioned that the prevalence of chronic diseases among the Canadian population was 33% in 2021. Also, according to the Kidney Disease Statistics 2021 for the United States, chronic kidney disease (CKD) affects more than 1 in 7 United States adults annually, and it is estimated that 37 million Americans suffer from kidney disease in the United States. Likewise, the IDF data published in 2021 mentioned that the prevalence of diabetes in Mexico was 16.9% in 2021 and is expected to rise to 18.3% by 2030. Thus, the growing burden of various chronic diseases in North American countries is expected to contribute to the growth of the market over the forecast period.
Additionally, the article titled published in September 2021 by UnitedHealth Group, suggested that shifting outpatient procedures for non-complex commercially insured individuals to ASCs would reduce spending by 59% and save USD 684 on average per outpatient procedure. Thus, cost-effective diagnostics and therapeutics with ASC are expected to lure more consumers, thereby driving the market.
Moreover, strategic initiatives taken by the key market players, such as partnerships, initiation of new programs, and mergers ad acquisitions, among others, will drive the market growth. For instance, in March 2021, Ascension signed an agreement with Regent Surgical Health, a developer, owner, and manager of ambulatory surgery centers (ASCs). Through this partnership, Ascension and Regent will develop or acquire and operate ambulatory surgery centers across the communities Ascension serves, providing patients with convenient access to high-quality outpatient surgical services.
Furthermore, in October 2021, United Surgical Partners International (USPI) entered into a definitive agreement with Compass Surgical Partners to purchase its ownership and management interests in nine ambulatory surgery centers (ASCs). This will help in providing well-established ASC across the country, thus driving the market. Therefore, due to the above-mentioned factors, such as the increasing prevalence of chronic diseases, frequent product launches, and rising strategic initiatives by key market players the studied market is expected to lead to lucrative growth of the market in North America.
