The Outpatient Surgical Procedures Market is projected to grow from USD XX billion in 2021 to USD XX billion in 2030 at a CAGR of XX%. Outpatient surgical procedures do not need overnight hospitalization for patients. Outpatient surgeries allow patients to recover at their homes and helps hospital staff to concentrate on patients with serious condition. The adoption of advanced technology in medicine has resulted in surgeries becoming less painful and offer fast recovery. The number of outpatient surgical procedures is expected to grow during the forecast period.
COVID-19 Impact on Outpatient Surgical Procedures Market
The pandemic has led healthcare providers to acquire outpatient surgical procedures facilities. Fears of contracting COVID-19 are keeping people from visiting hospitals, which has been one of the causes of this shift. The outpatient surgical procedures offer an alternative to patients who do not want to stay at hospitals due to exposure to COVID-19 patients. Outpatient surgical procedures also provide an affordable solution as it is half the cost of traditional surgeries. Hence, the market is expected to grow significantly over the forecast period.
Outpatient Surgical Procedures Market
Latest Trends
Adoption of Fast Tracking
Fast tracking in outpatient surgery is a novel paradigm that facilitates intraoperative efficiency by allowing quicker discharge. Bypassing the post-anesthesia care unit shortens the time it takes to return home compared to the traditional recovery process. The adoption of fast tracking improves patient care with a rapid recovery process.
Driving Factors
Affordable Surgeries and Technological Advancement
The increasing healthcare costs have resulted in surgeries becoming unaffordable. However, with the help of outpatient surgical procedures, hospitals can cut costs to offer affordable surgeries, driving the market growth. The shift from traditional procedures to outpatient surgical procedures and adoption of advanced solutions such as mHealth, telehealth, and remote patient monitoring is expected to drive market growth during the forecast period.
Restraining Factor
Ban on all elective diagnostic and therapeutic procedures and elective surgery in inpatient and outpatient settings due to the implementation of stringent regulations regarding COVID-19 is expected to hamper the market growth.
Segmentation Analysis
By Surgical Procedure Type
Ophthalmic Segment to Dominate the Market
Based on surgical procedure type, the outpatient surgical procedures market is divided into gastrointestinal, cardiovascular, neurological, orthopedic, gynecologic, integumentary, and ophthalmic. The ophthalmic segment is expected to account for a largest market share during the forecast period. The growth can be attributed to the low risk of surgery, which has led to increasing number of patients opting for cataract surgery.
By Patient Care Setting
Increasing Surgical Procedures to Drive the Hospital OPDs Segment
Based on patient care setting, the outpatient surgical procedures market is divided into physician's office, hospital OPDs, and ASCs. The hospital OPDs segment is expected to be the largest segment during the forecast period. The growing number of surgical procedures performed in hospitals and the fact that these treatments are reimbursed contribute to segment growth.
By Region
North America to Account for the Largest Market Share
Based on region, the outpatient surgical procedures market is segmented into North America, Europe, the Asia-Pacific, the Middle East and Africa, and South America. North America is expected to account for the largest share of the outpatient surgical procedures market during the forecast period. The number of surgical procedures capable of being safely performed in an ambulatory setting has increased in the region, driving the market growth. According to American Hospital Association, the number of outpatient surgical procedures increased from 57% in 1994 to 66% in 2014 at community hospitals in the United States.
Asia-Pacific is expected to witness the highest growth during the forecast period. Developing healthcare infrastructure and growing aging population vulnerable to diseases has resulted in increasing number of outpatient surgical procedures, which is projected to boost the market growth during the forecast period.
Europe is also expected to grow at a significant rate during the forecast period. The growth can be due to increasing advancements in technologies resulting in increasing number of surgeries per day. The growing trend of cosmetic and aesthetic procedures classified as outpatient surgical procedures also contributes to regional market growth.
Outpatient Surgical Procedures Market
Key Industry Players
Collaboration, R&D, partnership, and facility expansion are the key strategies of the market leaders.
List of Players
- NewYork-Presbyterian Allen Hospital
- Jude Children's Research Hospital
- Cleveland Clinic.
- Johns Hopkins Medicine
- Mayo Foundation for Medical Education and Research (MFMER)
- Taipei Veterans General Hospital
- Addenbrooke's Hospital
- AIIMS, New Delhi
- Lausanne University Hospital
- Massachusetts General Hospital
- Singapore General Hospital
- University of Maryland Medical Center (UMMC).
Key Industry Developments
- In March 2021, Ascension signed an agreement with Regent Surgical Health, as its exclusive national partner for ambulatory surgery centers. Through this partnership, Ascension and Regent will develop or acquire and operate ambulatory surgery centers across the communities.
- In July 2020, Stryker launched its own ambulatory surgery center, to save more than USD 55 billion in its healthcare savings per year.
- In December 2020, Tenet Healthcare made a major pivot to enter the ambulatory surgery center business with a USD 1.1 billion deal to build 45 centers.
- In August 2020, MedCore Partners (MedCore) announced the launch of a new expansion project. The companies will build a multi-specialty Ambulatory Surgery Center (ASC) to residents for Denton County and surrounding communities. It will operate as a joint venture between Texas Health Resources (THR), Surgical Care Affiliates (SCA) and local surgeons.
Market Segment
By Surgical Procedure Type:
- Gastrointestinal
- Cardiovascular
- Neurological
- Orthopedic
- Gynecologic
- Integumentary
- Ophthalmic
By Patient Care Setting:
- Physician's Office
- Hospital OPDs
- ASCs
By Region:
North America
- North America, by Country
- The U.S.
- Canada
- Mexico
- North America, by Surgical Procedure Type
- North America, by Patient Care Setting
Europe
- Europe, by Country
- Germany
- The U.K.
- France
- Italy
- Spain
- Russia
- The Rest of Europe
- Europe, by Surgical Procedure Type
- Europe, by Patient Care Setting
Asia-Pacific
- Asia-Pacific, by Country
- China
- India
- Japan
- South Korea
- Australia
- The Rest of Asia-Pacific
- Asia-Pacific, by Surgical Procedure Type
- Asia-Pacific, by Patient Care Setting
Middle East and Africa
- Middle East and Africa, by Country
- The UAE
- Saudi Arabia
- Qatar
- South Africa
- The Rest of Middle East and Africa
- Middle East and Africa, by Surgical Procedure Type
- Middle East and Africa, by Patient Care Setting
South America
- South America, by Country
- Brazil
- Argentina
- The Rest of South America
- South America, by Surgical Procedure Type
- South America, by Patient Care Setting
FAQs Answered in the Report
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