The ASC market valuation is expected to surpass $42 billion by 2027, up from $16 billion in 2020, according to a report from research and management consulting firm Global Market Insights.
Four notes:
1. During the forecast period, the market is projected to grow at a compound annual growth rate of 10 percent.
2. To earn a greater share and competitive advantage in the market, key players are focusing on service portfolio expansion, collaborations, agreements and strategic partnerships.
3. In 2020, the neurology segment had about 10.5 percent of the ASC market share, driven by advancements in minimally invasive technologies and a rising demand for neurological procedures.
4. The rising elderly population, vulnerable to various chronic conditions, and the presence of highly trained neurosurgeons at ASCs will also contribute to market growth.