Ambulatory Surgical Centers IT Services Market Growth & Trends
The global ambulatory surgical centers IT services market size is projected to reach USD 13.5 billion by 2027 and is anticipated to expand at a CAGR of 22.8% over the forecast period, according to a new report by Grand View Research, Inc. The growing need for integrated services that help in improving patient care in Ambulatory Surgical Centers (ASCs) is positively impacting the growth. Furthermore, the growing number of outpatient surgical procedures coupled with the rising need to curb the increasing healthcare expenditure in these settings is further bolstering revenue growth over the forecast period.
Based on the service type, the EHR segment dominated the market with a revenue share of 27.8% in 2019. Factors contributing to the increase in demand include increasing adoption of healthcare IT solutions by ASCs for faster and better performance of healthcare processes, which helps improve the quality of healthcare delivery. On the other hand, the clinical documentation segment is expected to expand at the fastest CAGR over the forecast period.
In 2019, the service segment accounted for the highest revenue share, attributed to the shift of healthcare IT solutions toward cloud computing coupled with increasing utilization of IT solutions by ASCs to control growing administrative overheads and improve the efficiency of ambulatory services.
Based on delivery mode, the cloud-based segment dominated the market with a revenue share of 84.4% in 2019. The rapidly improving healthcare technology, changing reimbursement policies, and increasing number of procedures in ASCs have increased the use of cloud-based IT tools. These tools help to optimize clinical and non-clinical processes, which in turn is driving the demand for cloud-based solutions in the outpatient surgery space.
North America dominated the market for ambulatory surgical centers IT services with a revenue share of 57.6% in 2019 owing to the presence of the largest number of ASCs in the U.S. coupled with the rising number of surgical procedures performed in ASC settings and the presence of major market players in the region. On the other hand, the Asia Pacific region is projected to expand at a lucrative CAGR over the forecast period. It is attributable to increasing healthcare expenditure and growing government initiatives to adopt healthcare IT services in this region.
Ambulatory Surgical Centers IT Services Market Report Highlights
- EHR segment dominated the global market for ambulatory surgical centers IT services in 2019, owing to the increasing adoption EHR solutions in ambulatory centers
- The service segment dominated the market in 2019, owing to curb the growing operational costs
- The cloud-based segment dominated the market in 2019, owing to the growing demand for these solutions due to efficiency and affordability
- North America dominated the market with a revenue share of 57.6% in 2019, owing to the presence of a large volume of surgery performed