The North American ASC market is set to reach $95 billion in revenue by 2025, according to a Global Market Insights report.
Seven insights:
1. The North American ASC market reached $70 billion in revenue in 2018. It is expected to witness a 5 percent compound annual growth rate from 2019 to 2025.
2. The development of outpatient surgery programs was fueled by a prevalence of chronic disorders and growing awareness of early diagnostic treatments.
3. The global ASC market share will benefit from government initiatives encouraging healthcare access in developing economies.
4. Poor lifestyle and consumption habits have caused a surge in the number of dental, cardiac and orthopedic surgeries performed at both hospitals and ASCs.
5. Growth in the orthopedic surgery segment has also been driven by an increase in road accidents and sports injuries. By 2030, the number of total knee and hip replacement surgeries performed in the U.S. will rise by an estimated 170 percent.
6. Patients increasingly prefer ASCs because of high orthopedic costs and longer wait times at hospitals.
7. ASC volumes have increased in part because of a rise in ophthalmologic disorders.