According to Market Research Future (MRFR), the ambulatory services market is poised to reach USD 3906.8 MN by 2025, growing at 5.1% CAGR during the review period (2019-2025). The ambulatory services market size is growing rapidly worldwide. Ambulatory services offer cost-effective and noticeably improved diagnosis, prognosis, and treatment processes. Improved ambulatory services are regarded as one of the most noteworthy changes in the healthcare industry. The ambulatory services market growth majorly attributes to government initiatives to integrate acute and primary healthcare to provide patients with convenient treatment facilities.
COVID-19 has brought a radical sea change in the healthcare industry. The pandemic has simply amplified earlier health inequalities, sweeping across the world. The epidemic has caused an abundance of chronic health conditions that made people vulnerable to developing severe complications related to COVID-19. Governments have realized that healthcare has to move to ambulatory settings, and there’s more need for ambulatory care and emergency rooms to keep people healthier and out of inpatient settings.
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They started attempting to address the lack of access to clinical care by providing adequate capacities for excellent health care. Therefore, the ambulatory health care services industry is being identified as one of the fastest emerging industries. Changing dynamics of the legal and regulatory frameworks worldwide and the intense competition among an excess of public companies are further escalating the ambulatory services market growth to furthered height.
Additionally, advances in healthcare technologies increase ambulatory health care services market size. Increasing health access by expanding outpatient care as well as wraparound services like childcare and ambulatory surgical centers are the latest ambulatory health care services market trends.
Ambulatory Services Market Drivers and Restraints:
Market Drivers
• Rising government initiatives.
• Increasing per capita healthcare expenses.
• Technological advancements.
• Increasing funding by private and public sectors
Market Restraints
• High cost of treatment
• Lack of reimbursement
Ambulatory Services Market Segmentations
By Type, the global ambulatory services market Primary Care Offices, Medical Specialty, Ambulatory Surgery, Outpatient Departments (OPDs), Emergency Departments, and others.
Global Ambulatory Services Market Regional Analysis
North America dominates the global ambulatory services market. The region held 32.7% of the overall market share in 2017. The largest market share attributes to the presence of many industry players and well-developed healthcare infrastructures in the region. Besides, substantial technology upgrades and high healthcare expenditures foster the growth of the regional ambulatory services market.
Healthcare organizations are increasingly focusing on improving patient care and procure futuristic medical devices & equipments, which propel the regional market growth. The US and Canada hold substantial shares in the regional market due to a large number of medical specialties and OPDs. The North American ambulatory services market is projected to retain its dominance over the global market throughout the estimated period.
Europe stands second in the global ambulatory services market. The ambulatory services market is driven by the presence of a large number of well-developed caregiving facilities healthcare organizations. Besides, the availability of funds and government support for R&D to upgrade healthcare infrastructures propel the regional market growth. The UK and Germany, with the increasing healthcare expenditures, lead the European ambulatory services market.
The ambulatory services market is brisk in the Asia Pacific region. Factors such as increasing healthcare spending and favorable government policies drive regional market growth. India and China are leading markets for ambulatory services in the region. Moreover, rising initiatives taken by public and private organizations fuel the growth of the regional market. The APAC ambulatory services market is estimated to grow rapidly over the projected period.
Ambulatory Services Market Competitive Landscape
Highly competitive, the ambulatory market appears fragmented due to the presence of several notable players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, expansion, collaboration, and product/technology launch. Service providers substantially invest in R&D to develop comprehensive service packages and to expand global footprints.
Major Players:
Players operating in ambulatory market include Surgical Care Affiliates (US), AmSurg Corp (US), Surgery Partners (US), Healthway Medical Group (Singapore), HCA Holdings, Inc (US), Trillium Health Partners (Canada), and SurgCenter (US), among others.
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Industry/Innovation/Related News:
Mount Sinai Health System and Richmond University Medical Center, announced that they have entered an academic and clinical partnership to expand Staten Island services. These organizations intend to work by establishing joint programs and initiatives to enhance services that the medical center serves.
Companies share many goals, including access to advanced primary, specialty and ambulatory services, patient care outcomes and quality, expanding, and the overall clinical commitment to population health. The deal grants the medical center access to Mount Sinai’s expansive eight-hospital network and expertise. The affiliation allows them to enhance clinical programs and share treatment protocols on evolving issues to improve care.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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