Here is why the market is booming:
1. Healthcare expenditures are rising, with the U.S. spending 17 percent of gross domestic product toward healthcare expenditures. With these costs rising, ASCs pose an attractive option to lower costs. The report found ASC costs almost 40 percent to 60 percent less than hospitals for the same procedure.
2. Through 2024, the surgical specialty segment is set to increase at a 6.5 percent compound annual growth rate with ASCs performing procedures including orthopedic, spine, cataracts and many more.
3. The market is consolidatingwith large hospitals acquiring ASCs and/or entering into joint ventures.
4. North America held more than 41 percent of the market share last year and is likely to continue growing in its market dominance.
5. Asia Pacific has the highest CAGR at 7 percent through 2024.
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.