The size of the global ambulatory services market to grow at a CAGR of 6.9% from 2020 to 2025.
Ambulatory service is medical care provided to a patient who comes to the hospital for treatment and doesn't stay at night, including facilities like test nature of the illness, the process of carefully observing, the process of discussing, treatment, action taken to improve a medical disorder and rehabilitation services. This care is provided even out of the hospital also.
The adoption of ambulatory services is significantly increasing over the past few years.
According to the Centre for Medicare and Medicaid Services, 5,357 Medicare-certified ASCs and about 3,360 HOPDs were there in 2012 December. In 2006, around 35 million ambulatory surgical visits were happened, in which 20 million surgeries and procedures were performed in HOPDs, and approximately 15 million were performed in ASCs.
In 2007, the Medicare payments to ASCs had been increased by 24% from USD 2.9 billion to 3.6 billion, which was in 2012. The funds given by the government are rising, which offers team-based primary care, surgeries are cost saving as compared to the hospitals and also the government investments for old population these factors are driving the growth of the ambulatory service market.
The growing incidents of chronic diseases, progression in technology, and the government's new rules that offer economic advantages are affecting the growth of the global market. Also, the demand for minimally persistent surgeries, more patient recovers with shorter healing time, cheap surgical charges, and well-prepared ambulatory service centers are anticipated to drive the market in the forecast period.
Technological advancements are further expected to drive the global ambulatory services market growth.
By the advancements of technology, medical procedures and surgeries are also held in ambulatory services where these are only performed in hospitals in earlier days. The Healthcare sector moves towards capable, personalized treatments for patients transforming, advancements in genetics, information technology, and biomedical. At the same time, accepting the customer-centric approach healthcare sector today will create positive consumer experiences. As a result, the market is increasing rapidly.
Additionally, the factors like decrease in-hospital stay, ease of access, capable timings, and high cost of alternative treatments, government initiatives to integrate acute and increase in the aging population are a few of the other factors driving the market growth. As the healthcare expenditure grows, there is a rise in standard chronic diseases, an increase in hospital readmissions, and the rise in preference of minimum tendency to spread surgeries very quickly along with technology advancements, which propels the expansion of outpatient centers.
MARKET CHALLENGES
The ineffective communication, increase in the drugs' adverse effect, and delayed diagnosis are significant restraints for the ambulatory services market. Regulatory and operational uncertainties and data security concerns, lack of amount to be repaid, lost, or paid, diagnostic errors are more common are some of the critical challenges to the global ambulatory services market.
Impact of COVID-19 on the global ambulatory services market
The COVID-19 widespread has stood as abnormal challenges to the medical healthcare system across the globe. In this pandemic time, the ambulatory care clinical pharmacists are assuming patient access for care and simplifying the healthcare system's stress. Ambulatory care clinical pharmacists are presenting COVID-19 education, training, and insurance coordination. In COVID-19, telehealth facilities have been soared up and have become the primary mode of maintaining CMM services. Ambulatory care clinical pharmacists supplying telehealth during the pandemic time should trail both clinical and non-clinical results.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Type and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global ambulatory services market has been segmented and sub-segmented based on the type and region.
Ambulatory Services Market – By Type:
Based on the type, the primary care offices segment is expected to dominate the ambulatory services market during the forecast period. This segment receives support from factors such as advanced quality of care and novel technology accomplishments like computerized prescription systems and Electronic Health Records (EHRs). In March 2015, Tenet HealthCare Corporation and United Surgical Partners announced that they enter into a joint venture regarding ownership interests in 244 Ambulatory Surgery Centers (ASCs), 20 imaging centers, and 16 short-stay surgical hospitals in the United States. Moreover, partnerships amid high government and other private organizations offering fewer cost permissions for different types of treatments are considered to bolster the ambulatory services market growth globally.
Besides primary care offices, the Surgical Specialty is expected to schedule the quickest CAGR growth rate in the global ambulatory services market during the analysis period. Effortless reimbursement schemes, insistence for minimal invasive processes, and surging M&A activities amid the key industries are some of the factors adding fuel to the segment growth in the market globally. For instance, in 2016, Surgical Care Affiliates, Inc. (SCA) has made a partnership with the Midwest Center for Day Surgery. This combination supported the expansion of SCA’s product portfolio in Chicago. Moreover, the Surgical Specialty segment has gained popularity in the global market because of advanced technologies of the same-day surgeries for cataract and orthopedic surgeries.
Ambulatory Services Market – By Region:
Regionally, the North America region held the largest share in the global market in 2019 due to the rise in healthcare expenditure; the cost-saving offers given by the hospital stay, alter of the aging population to outpatient care, increasing network with physicians and healthcare providers and the presence of leading players in the market.
The European ambulatory services market holds the second-largest share. In this region, the factors driving the market in this region are a rise in investment in research and development, well-developed healthcare infrastructure, and increased healthcare funds. Further, the demand for ambulatory service is expected to grow in Europe by creating awareness amongst patients and improved surgery quality, said to the British Association of Day Surgery and Healthcare Conferences UK.
India, China, Japan, Australia & NZ, South Korea, ASEAN countries (Indonesia, Thailand, Singapore, Vietnam, Myanmar, and Others), and the Rest of APAC are considered under the Asia Pacific region. Asia-Pacific is expected to grow radically in the forecast period due to the increasing health care issues with the rising incidence of chronic diseases. The government is also taking the initiative to introduce outpatient strategies. For the case, the applications launched by China and Japan are easy to use and book outpatient appointments; they are also providing knowledge about the ambulatory service. Latin America region is segmented into Mexico, Brazil, Argentina, Chile, and the Rest of LATAM.
The Middle East & Africa market sees a fixed growth due to an increase in investments in research and developments and the rapid adoption of technological advancements in the medical sector.
NOTEWORTHY COMPANIES IN THE MARKET
Key market participants leading the global ambulatory services market profiled in this report are Envision Healthcare Corporation, Surgery Partners, IntegraMed America, Inc., NueHealth (Nueterra Healthcare), Terveystalo Healthcare, Hospital Corporation of America (HCA) Management Services, L.P., Aspen Healthcare, Healthway Medical Group, and Medical Facilities Corporation.
