The U.S. ASC market is poised for significant growth in the next seven years, according to a report from New York marketing research firm Research Nester.
Eight takeaways:
1. The U.S. ASC market is expected to see a 6.9 percent compound annual growth rate through 2028.
2. Increased disease prevalence and demand for quick, low-cost care will drive market growth. Sixty percent of adults in the U.S. have a chronic disease, including heart or orthopedic conditions, some of which could be treated in ASCs, according to the report.
3. The ASC market was worth $30 billion in 2019 and is expected to reach $33 billion by 2028.
4. The Northeastern region of the U.S. is expected to generate the most ASC revenue, at $5.4 billion, and have a 6.8 percent compound annual growth rate over the next seven years. The public's increasing awareness of ASCs and large geriatric populations are driving growth in the region.
5. The Western region of the U.S. won't be far behind, with an expected 7.7 compound annual growth rate through 2028, driven by an uptick in chronic disease among its residents.
6. Freestanding ASCs will likely generate revenue of nearly $15 billion in 2021, which is expected to grow to $24.5 billion by 2028.
7. Single-specialty ASC revenue is expected to grow from $13.4 billion in 2021 to $21.8 billion in 2028.
8. The largest national ASC chains include United Surgical Partners International; AmSurg; Surgical Care Affiliates; SurgCenter Development; Surgery Partners; Regent Surgical Health; ASD Management; PE GI Solutions; and Ambulatory Surgical Centers of America.