The global ambulatory healthcare service market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising awareness, increasing technological advancements, and growing geriatric population.
Ambulatory care broadly comprises of medical services performed on an outpatient basis. The ambulatory healthcare services are practiced without admitting the patient to a hospital. Ambulatory care is provided in settings such as offices of physicians, health care professionals, hospital outpatient departments, ambulatory surgical centers, specialty clinics or centers, and urgent care clinics. The ambulatory care includes diagnosis, observation, consultation, treatment, intervention, and rehabilitation services. It also includes the advanced medical technology and procedures that are provided outside of hospitals.
The ambulatory care sensitive conditions are health conditions where appropriate ambulatory care prevents or reduces the need for hospital admission or inpatient care. Many medical treatments for chronic illnesses and preventive health care can be performed on an ambulatory basis. The chronic illnesses and preventive health care includes minor surgical and medical procedures such as dental services, dermatology services, and diagnostic procedures.
The ambulatory care services represent the most significant contributor for increasing hospital expenditures. The most common ambulatory care sensitive conditions are angina, asthma, cancer, chronic obstructive pulmonary disease, chronic pain, congestive heart failure, dental conditions, diabetes, dyslipidemia, epilepsy, HIV, hypertension, inflammatory bowel disease, influenza, pneumonia, iron-deficiency anemia, palliative care, pelvic inflammatory disease, thromboembolic diseases, and tuberculosis. The hospitalization for ambulatory care sensitive conditions is a measure to access an appropriate primary health care including preventive and disease management services.
The COVID-19 pandemic has significantly affected almost every industry including the healthcare industry. The pandemic situation has witnessed nationwide lockdowns. The high risk of developing serious illness due to coronavirus disease has made it challenging for several other healthcare problems. Therefore, the outbreak overwhelmed home healthcare agencies with patients due to limited access to medical services for chronic diseases, elderly care, and post-infection rehabilitation. This resulted into many opportunities for the expansion of ambulatory healthcare service market.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing technological advancement and rising demand for healthcare services are anticipated to fuel the growth of the market in the coming years.
- Rising demand for minimally-invasive surgeries and availability of cost-effective medical facilities are some of the factors expected to spur the market growth during the forecast period.
- Growing aging population and rising prevalence of chronic diseases are estimated to propel the market expansion in the coming years.
- High maintenance & service expenses and lack of awareness among middle-class population are the major challenges anticipated to hamper the market growth during the projected timeline.
- Industrial investments for technological advancement in healthcare sector and favorable government initiatives are projected to offer immense opportunities for the market players in the long run.
Scope of Ambulatory Healthcare Service Market Report
The report on the global ambulatory healthcare service market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Ambulatory Healthcare Service Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Medical Specialty Office, Primary Care Office, Emergency Department, Surgical Specialty Office, and Others) and Applications (Pain Management, Orthopedics, Gastroenterology, Ophthalmology, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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NueHealth; SHERIDAN HEALTHCARE; Medical Facilities Corporation; Aspen Healthcare; and Surgery Partners
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Ambulatory Healthcare Service Market Segment Insights
Surgical specialty office segment is anticipated to register at a substantial CAGR
Based on types, the market is segmented into medical specialty office, primary care office, emergency department, surgical specialty office, and others. The surgical specialty office segment is anticipated to register at a substantial CAGR during the projected period owing to the easy reimbursement policies, high demand for minimally invasive procedures, and rising mergers & acquisition activities among the key companies. However, the primary care office segment is projected to account for a key market share owing to the improving quality of care and the implementation of new technologies.
Moreover, rising implementation of Electronic Health Records (EHR) systems in rural areas, availability of drug procurements, and improved primary and follow-up care facilities are some of the factors anticipated to propel the growth of the market segment in the coming years.
Gastroenterology segment is projected to hold a significant market share
On the basis of applications, the market is segregated into pain management, orthopedics, gastroenterology, ophthalmology, and others. The gastroenterology segment is projected to hold a significant market share during the forecast period due to growing technological advancements and rising number of gastrointestinal diseases. Moreover, rising geriatric population and obese population and increasing research & development activities and anticipated to fuel the market segment in the coming years.
On the other hand, the orthopedics segment is anticipated to expand at a considerable pace owing to rising incidence of orthopedic injuries and increasing prevalence of diseases such as osteoarthritis, traumatic fractures, osteoporosis, and rheumatoid arthritis.
North America market is anticipated to dominate the market
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America market is anticipated to dominate the market during the forecast period owing to the presence of better healthcare infrastructure and rising geriatric population. Moreover, the region is expected to continue its dominance in the market due to increasing technological advancements, high demand for healthcare solutions, and growing IT infrastructure for developing healthcare software.
On the other hand, the market of Asia Pacific is expected to grow at a significant rate during the projected period due to growing elderly population and rising number of serious health issues such as heart diseases, diabetes, and respiratory disorders in the region. Furthermore, the rising demand of healthcare devices, increasing expenditure on healthcare facilities, and economical conditions of the region is expected to fuel the regional market growth.
Segments
The global ambulatory healthcare service market has been segmented on the basis of
Types
- Medical Specialty Office
- Primary Care Office
- Emergency Department
- Surgical Specialty Office
- Others
Applications
- Pain Management
- Orthopedics
- Gastroenterology
- Ophthalmology
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global ambulatory healthcare service market are NueHealth; SHERIDAN HEALTHCARE; Medical Facilities Corporation; Aspen Healthcare; and Surgery Partners. Companies are focusing on market strategies and collaborating with other industry players for creating new security measures and technological advancements to expand their market share.
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