Technavio released a new market report on the ambulatory surgery center industry.
Here are six key trends from the report:
1. Small practice mergers and acquisitions are increasing, and healthcare systems are growing thorugh mergers and acquisitions. Vendors are entering into merger and acquisition deals with hospitals and physicians to "gain a foothold in this market."
2. The rise in minimally invasive surgery is driving the ASC market. MIS surgeries are associated with low risk for complications, reduced hospital stays and lower costs.
3. Cardiac surgery is a large segment with a growing number of procedures becoming minimally invasive. Surgeons can perform minimally invasive procedures such as arthroscopy, robotic-assisted hysterectomies, aortic valve surgeries and endoscopic robotic cardiac surgery in the outpatient setting.
4. Reimbursement for ASCs is declining, which is one of the major challenges in the global ASC market. ASCs face competition from hospitals and other outpatient facilities that have more favorable reimbursement.
5. The global ASC market is expected to grow 4.36 percent compound annual growth rate through 2020.
6. The major players in the market are AmSurg/Envision Healthcare, Tenet/United Surgical Partners International, Surgery Partners and Surgical Care Affiliates. The other prominent vendors listed in the report include Mednax, HCA, SurgCenter Development, Ambulatory Surgical Centers of America and Nueterra Healthcare.