At 21.80% CAGR, Global Ambulatory Surgical Centers IT Services Market Size & Share Will Hit US$ 12783.14 Million by 2028 | Industry Trends, Demand, Growth, Value, Analysis & Forecast Report by Zion Market Research
NEW YORK, July 28, 2022 /PRNewswire/ -- As per Zion Market Research study, The global Ambulatory Surgical Centers IT Services market was worth USD 3,915.2 million in 2021 and is estimated to grow to USD 12,783.14 million by 2028, with a compound annual growth rate (CAGR) of approximately 21.80% over the forecast period.
Ambulatory Surgical Centers IT Services Market: Overview
A healthcare institution that specializes in providing same-day surgical care, including diagnostic and surgical (preventive) operations, is called an ambulatory surgical center (ASC), sometimes known as an outpatient surgery center or a same-day care center. These clinics offer both preventative and diagnostic services. Cataract surgery, gall abdominal hernia repair, skin therapy, bladder removal, minor joint repair, and other procedures are all performed in ambulatory surgical centers on the same day. The need for IT services in ambulatory surgical centers is anticipated to increase due to the rising number of Ambulatory Surgical Centers (ASCs) due to the transition of procedures from inpatient to outpatient settings and the growing need to contain the rising healthcare costs. The need for these services is also fueled by the growing use of healthcare IT solutions, including practice management, patient portals, revenue cycle management, and clinical recording for better workflow management. In addition, the number of procedures performed in these facilities is driven by the use of cutting-edge technology in outpatient settings and rising inpatient expenditures. The migration of healthcare IT services to cloud computing is another important element driving the market's expansion. The healthcare sector is changing as cloud computing usage grows around the globe. By enhancing care delivery and clinical results, developments in healthcare IT are opening up options to reduce healthcare spending. One of the variables influencing cost reduction is an increase in patient involvement in managing chronic care through patient engagement portals, which makes the best interventions feasible.
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Key Industry Insights & Findings of the Ambulatory Surgical Centers IT Services Market Reports:
- As per the analysis shared by our research analyst, the Ambulatory Surgical Centers IT Services Market is expected to grow annually at a CAGR of around 21.80 % (2022-2028).
- Through the primary research, it was established that the Ambulatory Surgical Centers IT Services Market was valued at approximately USD 3915.2 million in 2021 and is projected to reach roughly USD 12783.14 million by 2028.
- North America is expected to dominate the global ambulatory surgical centers IT services market due to the widespread adoption and preference of ambulatory surgical centers, as well as services like Electronic Health Records (EHRs), for reducing the skyrocketing healthcare costs and the increasing number of surgical procedures performed.
- Asia Pacific regional market is expected to grow at a significant rate in the Ambulatory Surgical Centers IT Services market because of the rise in government activities to develop healthcare IT services in the Asia Pacific region as well as the rising healthcare spending of an expanding population as a result of the COVID-19 pandemic.
- Current medical facilities known as ambulatory surgical centers focus on providing same-day surgical care that includes diagnostic and preventative procedures. ASCs strive to provide the best surgical experience possible.
Zion Market Research published the latest report titled "Ambulatory Surgical Centers IT Services Market By Service Type (EHR, Clinical Documentation, Practice Management, Revenue Cycle Management, Supply Chain Management, Patient Engagement and Others), By Solution (Software and Service), By Delivery Mode (On-Premise and Cloud-Based), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.
Industry Dynamics:
Ambulatory Surgical Centers IT Services Market: Growth Drivers
- Excellent services offered by ambulatory surgical centers are likely to pave the way for global market growth.
Current medical facilities known as ambulatory surgical centers focus on providing same-day surgical care that includes diagnostic and preventative procedures. ASCs strive to provide the best surgical experience possible. With services like Electronic Health Records (EHRs), which protect government funds, third-party buyers, and patients, they also provide cheap care. ASCs represent a promising development that shines with clinical brilliance. ASCs are efficient, affordable, practical, accessible, and time-saving. The market for IT services for ambulatory surgical centers is expanding due to these benefits of ASCs.
Ambulatory Surgical Centers IT Services Market: Restraints
- Disadvantages associated with ASCs may hamper the global market growth.
Over the past ten years, a sizable portion of American patients has chosen outpatient surgery clinics over hospitals for surgical operations. However, several ASC drawbacks are anticipated to restrain the global ambulatory surgical centers IT services market growth during the anticipated time frame. These drawbacks include a lack of overnight accommodations, emergencies & problems with some medical procedures, and a lack of contingency planning. In addition, some surgical procedures may even entail the transfer of patients from ambulatory surgical centers to adjacent hospitals due to difficulties or problems.
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Global Ambulatory Surgical Centers IT Services Market: Opportunities
- Positive reimbursement scenario to bring up several growth opportunities.
One of the most important factors in the industry's growth is reimbursement. The Centers for Medicare & Medicaid Services (CMS) are paying more attention to expanding the range of surgical procedures permitted in ASCs due to favorable reimbursement regulations. In the next years, the market is anticipated to be driven by growing activities by commercial payers to encourage physicians to undertake different surgical procedures in these facilities.
Global Ambulatory Surgical Centers IT Services Market: Segmentation
- The global ambulatory surgical centers IT services market is segregated on the basis of service type, solution, delivery mode, and region.
By service type, the market is divided into EHR, clinical documentation, practice management, revenue cycle management, supply chain management, patient engagement and others. Among these, the EHR segment dominated the market in 2021 due to the cheaper or free upfront license fees, the need for less or no infrastructure investment, and likely simple data interchange within or outside an organization. Additionally, the increasing need for improved patient record accessibility and the expanding use of healthcare IT solutions in ASCs to meet patient expectations and improve case quality are key factors driving this market's expansion.
Based on the solution, the market is bifurcated into service and software. Over the forecast period, the service segment is expected to develop at a significant rate.
By delivery mode, the market is classified into on premise and cloud-based. The cloud-based segment dominated the market in 2021 due to the widespread adoption of cloud-based IT tools to increase the support for clinical choices, improve performance, and make the revenue cycle viable. In addition, due to its accessibility and speed, the cloud-based segment also supports supply chain management. The high acceptance rate supported by its accessibility and affordability, as well as its growing use in outpatient treatment to manage their revenue cycle and improve patient care quality, are driving this market's expansion.
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List of Key Players in Ambulatory Surgical Centers IT Services Market:
- Cerner corporation
- eClinical Works
- McKesson Corporation
- NextGen Healthcare
- Allscripts Healthcare Solutions Inc.
- Medical Information Technology, Inc.
- Surgical Information Systems, LLC
- HST Pathways
- CUREMD
- Epic Systems Corporation.
Key questions answered in this report:
- What are the growth rate forecast and market size for Ambulatory Surgical Centers IT Services Market?
- What are the key driving factors propelling the Ambulatory Surgical Centers IT Services Market forward?
- What are the most important companies in the Ambulatory Surgical Centers IT Services Market Industry?
- What segments does the Ambulatory Surgical Centers IT Services Market cover?
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Report Scope:
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Recent Developments
- In 2019, to make EHR data available via the Google Cloud Platform, MEDITECH and Google worked together. This improved scalability, facilitated interoperability, and helped securely transport patient data.
- In January 2021, T.H. Medical intended to purchase anywhere between 25 and 40 surgery centers. The cost of buying these operation facilities is expected to be over USD 150 million by the corporation.
Regional Dominance:
- Increased adoption of ambulatory surgical centers is likely to help North America dominate the global market
North America is expected to dominate the global ambulatory surgical centers IT services market due to the widespread adoption and preference of ambulatory surgical centers, as well as services like Electronic Health Records (EHRs), for reducing the skyrocketing healthcare costs and the increasing number of surgical procedures performed. ASCs also give patients a way to stay out of hospitals, particularly in the wake of the pandemic crisis, and protect low-risk patients from being exposed to more dangerous cases that might be present in a hospital. These factors have driven the market's expansion in the North American continent.
Over the forecast period, Asia Pacific regional market is expected to grow at a significant rate in the Ambulatory Surgical Centers IT Services market because of the rise in government activities to develop healthcare IT services in the Asia Pacific region as well as the rising healthcare spending of an expanding population as a result of the COVID-19 pandemic. These elements are driving the market for IT services offered by ambulatory surgical centers during the anticipated time.
Global Ambulatory Surgical Centers IT Services Market is segmented as follows:
Ambulatory Surgical Centers IT Services Market: By Service Type Outlook (2022-2028)
- EHR
- Clinical Documentation
- Practice Management
- Revenue Cycle Management
- Supply Chain Management
- Patient Engagement
- Others
Ambulatory Surgical Centers IT Services Market: By Solution Outlook (2022-2028)
- Software
- Service
Ambulatory Surgical Centers IT Services Market: By Delivery Mode Outlook (2022-2028)
- On-Premise
- Cloud-Based
Ambulatory Surgical Centers IT Services Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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