Global ambulatory services market is estimated to reach over US $3,812.7 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2025.
Ambulatory care comprises the medical services provided to a patient who does not require hospitalization and other related services. Medical expert organization, medical laboratories, and home healthcare constitute the ambulatory services. Ambulatory care includes diagnosis, treatment, observation, consultation, intervention, and rehabilitation for patients with unconventional medical treatments. In addition to these, telephone conferences, emergency patient visits and reintegration meetings are likely to draw more patients to this sector, generating significant economic results. This service area is a major revenue ground for hospitals.
As per the latest research, one of the primary factors promoting the growth of the ambulatory services market is the burgeoning need for ambulatory surgical visits. According to the data compiled by the Centers for Medicare & Medicaid Services as of 2016, approximately 20 million surgical procedures, and about 35 million ambulatory surgical visits had been performed in HOPDs (hospital outpatient department), while around 15 million surgeries were performed in ASCs (ambulatory surgery center). Furthermore, cost-saving surgeries, government investment for ambulatory care services, and escalating government funding providing team-based primary care are other significant factors augmenting the global market size.
Ascending geriatric population, increasing occurrence of chronic diseases, higher adoption of advanced technology, and introduction of new reimbursement policies by the government, are said to fuel the worldwide ambulatory services market expansion over the predicted timeframe. Moreover, the market is further boosted by the rising demand for minimally invasive, non-invasive surgeries, well-equipped ambulatory service centers, inexpensive surgical costs, as well as quicker patient recovery time, cites the report.
The latest study encompasses a comprehensive analysis of the global ambulatory services market, elaborating the market dynamics, drivers, present market scenario, along with future market trends. The report further enumerates multiple market restraints and prospects that affect the scope of commercialization of this business sphere over the forecast period. Also, the report contains a comprehensive industry analysis that takes into consideration Porter’s five forces, which are the bargaining power of supplier, bargaining power of buyer, degree of competition, threat of new entrant, and threat of substitute.
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Speaking of the service types, the global ambulatory services market is segmented into primary care offerings, outpatient departments, surgical specialty, medical specialty, and emergency departments. Reportedly, primary care offerings segment bagged the majority share and dominated the overall market in the year 2017. Subsequently, the surgical specialty segment started gaining traction, owing to the technological advancements of the same-day cataract and orthopedic surgeries, cites the report.
On the basis of the geographical outlook, the global ambulatory services market is fragmented into five major regions North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The North America market comprises the United States and Canada, while the European market is segmented into the United Kingdom, Germany, Italy, and France. The Asia Pacific region covers India, China, Japan, and Australia. The MEA region is sub-divided into the UAE and Saudi Arabia, and the Latin American region consists of Brazil and Mexico.
The highly competitive worldwide ambulatory services market includes key market contenders like Advancis Medical, 3M, Acelity, Colorplast, Medline Industries Inc., Medtronic, Alliqua Biomedical Inc., ConvaTec, Mölnlycke Health Care, and Smith & Nephew.