Minimally Invasive Procedures Boosting Gastroenterology ASC Market Revenue
The Global Gastroenterology Ambulatory Surgery Center (ASC) Market is experiencing significant growth, with a size of USD 43.5 billion in 2022, and is projected to register a rapid revenue compound annual growth rate (CAGR) of 6.2% during the forecast period. This growth is driven by several key factors.
One of the primary drivers of market growth is the aging population and the increasing prevalence of gastrointestinal illnesses such as Inflammatory Bowel Disease (IBD), colorectal cancer, and Gastroesophageal Reflux Disease (GERD). As the population ages, the demand for gastroenterology ambulatory surgery centers that provide specialized treatment for digestive problems, including diagnostic and therapeutic procedures like endoscopy, colonoscopy, and biopsy, is expected to rise.
Technological advancements have also played a crucial role in driving the revenue growth of the market. These advancements have led to the development of cutting-edge medical equipment and gadgets, including minimally invasive surgical tools and imaging systems. These advancements have reduced invasiveness, increased safety, and improved the accuracy of gastrointestinal treatments. As a result, there has been an increase in the number of outpatient procedures carried out in gastroenterology ambulatory surgical facilities, further driving market growth.
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Another important factor contributing to the growth of the gastroenterology ASC market is the increasing emphasis on cost-effective healthcare solutions. Gastroenterology ambulatory surgery facilities provide surgeries and treatments at lower prices compared to inpatient care, making them more accessible and affordable for patients.
The preference for outpatient care over inpatient care is also driving market growth. Outpatient care is more affordable, requires less time away from work, and is more practical for patients. Consequently, there has been a rise in the number of gastroenterology ambulatory surgery facilities to meet this growing demand.
However, there are certain factors that may hinder the market's revenue growth. One such factor is the lack of qualified healthcare workers and limited knowledge about the advantages of outpatient care. Additionally, the high prices of specialist medical equipment required for gastrointestinal treatments can pose a challenge for market growth.
In terms of procedure type, the market is segmented into upper GI endoscopy, colonoscopy, Endoscopic Retrograde Cholangiopancreatography (ERCP), and others. Upper GI endoscopy accounts for the largest revenue share in the global gastroenterology ASC market, driven by the increasing need for minimally invasive procedures and the prevalence of GI illnesses. Colonoscopy is expected to exhibit steady revenue growth due to the rising prevalence of colorectal cancer and the growing awareness of routine screening. The ERCP segment is anticipated to account for a significant revenue share, attributed to the increasing prevalence of pancreatitis, gallstones, and biliary tract problems.
By end-use, the market is segmented into hospitals and ambulatory surgery centers. Hospitals are expected to register the fastest revenue growth rate, driven by the increasing number of endoscopy and laparoscopy procedures performed in hospitals, the rising prevalence of chronic diseases, and the use of minimally invasive methods. Ambulatory surgery centers are also expected to account for a significant revenue share, driven by the demand for outpatient surgeries and their ability to provide high-quality care at a lower cost.
Geographically, North America holds the largest revenue share in the global gastroenterology ASC market, primarily due to a substantial patient pool, the use of advanced technologies, and favorable reimbursement policies. The Asia Pacific region is expected to exhibit the fastest revenue growth rate, fueled by the increasing prevalence of gastrointestinal illnesses, rising healthcare costs, a large patient population, and improving healthcare infrastructure. Europe is anticipated to account for a significant revenue share, driven by the growing need for outpatient care, awareness of gastrointestinal illnesses, and supportive reimbursement policies.
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Key Players Operating in Gastroenterology Ambulatory Surgery Center (ASC) Market
- AmSurg Corp.
- Envision Healthcare
- UnitedHealth Group
- Surgical Care Affiliates
- TeamHealth
- Surgery Partners
- Fresenius Medical Care AG & Co. KGaA
- Medical Facilities Corporation
The global Gastroenterology Ambulatory Surgery Center (ASC) Market has been segmented as follows:
By Procedure Type Outlook:
- Upper Gastrointestinal (GI) Endoscopy
- Colonoscopy
- Endoscopic Retrograde Cholangiopancreatography (ERCP)
- Others (additional unspecified procedures)
By End-use Outlook:
- Hospitals
- Ambulatory Surgery Centers (ASCs)
Regional Outlook:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Country Scope:
- U.S.
- Canada
- U.K.
- Germany
- France
- BENELUX (Belgium, Netherlands, Luxembourg)
- China
- India
- Japan
- South Korea
- Brazil
- Saudi Arabia
- UAE (United Arab Emirates)
- Turkey
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