Europe Ambulatory Surgical Centers (ASCs) Market size was valued at USD 23.8 billion in 2017 and is expected to witness 4.6% CAGR from 2018 to 2024.
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Rising elderly population base susceptible to chronic diseases along with increasing preference towards minimally invasive procedures will foster Europe ambulatory surgical centers market growth. Ageing population is more prone to chronic diseases due to various anatomical and structural changes. Increasing demand for non-invasive or less invasive surgical procedures among this population will upsurge the number of surgeries being performed in ambulatory surgical centers thereby, should spur the industry size.
Moreover, advantages offered by day surgery units including minimized hospital stay, cost-effective treatments as well as greater clinical quality will further upsurge industry growth. Favourable government policies in certain European countries for surgeries performed on an outpatient basis will favour the business revenue. Increasing number of road injuries and trauma cases in the region will fuel the demand for surgeries thereby augmenting the overall revenue growth. However, low physician-to-patient ratio in certain countries may hamper ambulatory surgical centers industry growth over the forthcoming years.
Physician & hospital segment was valued more than USD 4 billion in 2017 and will witness robust growth during the analysis timeframe. Segment growth is attributable to benefits offered by the joint ventured ASCs. Physician-hospital alignment strategies foster co-operation and shared goals between providers in the same community thus, offering significant opportunities for efficiency and quality improvements.
Corporation only segment is anticipated to show 4.5% CAGR over the forecast period. Multi-specialty facilities offered by these ASCs along with availability of several physicians to cater patients requiring specialized attention will favour the segment growth.
Cardiovascular surgery segment accounted for more than USD 1.9 billion revenue in 2017 and is projected to show robust CAGR over the coming years. Considerable rise in prevalence of cardiovascular disorders such as cardiac arrest, stroke and other conditions will favour segment growth. Technological advancements along with growing demand for advanced treatment will act as a significant driver in the cardiovascular surgery business growth.
Neurology surgery segment held more than 9.5% revenue share in 2017 owing to advancement in minimally invasive technologies used in neurovascular procedures. Rising number of government initiatives in the field of neurovascular diseases will further favour segment growth.
Single-specialty segment was valued over USD 13.5 billion in 2017 and is expected to grow significantly by 2024. The segment is driven by cost-effectiveness, minimal risk of physical attrition as well as presence of large number of single-specialty centers in the region.
Multi-specialty segment is anticipated to witness lucrative CAGR of 4.5% during the forecast period. The segment growth is attributable to provision of diversified services, favourable reimbursement scenario and availability of latest technology at multi-specialty ambulatory surgical centers.
Diagnosis segment is estimated to witness substantial growth accounting for over USD 6.5 billion by 2024. Rising incidences of chronic conditions coupled with growing awareness regarding early disease diagnosis will fuel diagnosis segment during the forthcoming years. Availability of latest technology used for disease detection along with rising demand for cost-effective and quality healthcare offered at ambulatory centers will stimulate industry growth.
Treatment segment held significant revenue share in 2017 and is projected to show 4.8% CAGR over the analysis timeframe. Segment growth is driven by increasing prevalence of chronic conditions such as cardiovascular diseases, diabetes and cancer due to high adoption of unhealthy diet and sedentary lifestyle.
UK accounted for more than 15% revenue share in 2017 and is anticipated to witness tremendous growth by 2024. Advancements of minimally invasive surgeries enabling procedures to be performed as day surgeries in the country will foster industry growth. Increasing number of independent day surgery facilities in UK is an impact rendering factor in the business growth. Furthermore, favourable government support to encourage procedures to be performed on day basis owing to advantages offered such as shortened hospital stays, early mobilization of patients, reduced hospital-acquired infections and improved quality of postoperative recovery will foster industry growth in the country.
Some of the notable players operating in Europe ambulatory surgical centers market include London Day Surgery Centre, BMI Blackheath Hospital Outpatient Centre, Alan Cumming Day Surgery Unit, Chelsea and Westminster Hospital, Central Institute of Mental Health, Vitanas clinic and day hospital, Ghent University Hospital, Zudecche Day Surgery, Auxologico Ariosto, and Balgrist University Hospital. Industry players are adopting strategies such as diversified service offerings, merger and acquisitions to sustain market competition and gain more revenue.
History of ambulatory surgical centers or outpatient surgery centers can be traced back during the turn of the 20th century with the foundations of modern day surgery by James Nicoll. His work at the Sick Children’s Hospital and Dispensary in Glasgow, Scotland (Nicoll 1909). An impressive growth in day/ outpatient surgery has been recorded during the last two decades owing to the development of short-acting anaesthetics as well as new surgical techniques. Ambulatory surgical centers (ASCs) play a vital role in moving services out of regular hospitals into cost-effective yet clinically appropriate settings. Day surgery in Europe now enjoy a high rate of patient satisfaction due to high-quality, safe and cost-effective approach to surgical health care. Rapidly ageing population in the region prone to severe disorders coupled with growing demand for essential healthcare services offered in the ambulatory surgical centers is projected to boost industry growth during the forthcoming years.