Ambulatory Surgical Centers IT Services Market By Service Type (EHR, Clinical Documentation), By Solution, By Delivery Mode, By Region,- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global Ambulatory Surgical Centers IT Services market gathered revenue around USD 4.1 Billion in 2020 and market is set to grow USD 14.2 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 23.4% during the prediction period 2021 to 2027.
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 2020. 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 2020, 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 84.6% in 2020. 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.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Ambulatory Surgical Centers IT Services market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Ambulatory Surgical Centers IT Services market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 14.2 Billion by 2027|
|Growth Rate||CAGR of 23.4% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Service type, solution, delivery mode And Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Cerner corporation; eClinical Works; McKesson Corporation; Medical Information Technology, Inc.; Surgical Information Systems, LLC; NextGen Healthcare; Allscripts Healthcare Solutions Inc.; HST Pathways; CUREMD; Epic Systems Corporation|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Ambulatory Surgical Centers IT Services market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America dominated the market, with a revenue share of 57.7% in 2020. The key factors attributable to the large market share are the high adoption of healthcare IT services by the ambulatory centers in the U.S., which are further propelled by the presence of key market participants in the country. Furthermore, the increasing number of surgical procedures performed in ambulatory settings, increasing demand to curb the escalating healthcare costs, are some of the major factors boosting the growth of this region.
The Asia Pacific is anticipated to emerge as the fastest-growing region during the forecast period. High demand for healthcare IT services as a result of increasing government expenditure on healthcare infrastructure coupled with the increasing need to curtail the growing unnecessary healthcare costs due to medical errors is expected to accentuate the IT market. This is expected to drive demand for healthcare IT services for ambulatory centers. The Asia Pacific market is projected to expand at a CAGR of 23.9% by the end of the forecast period.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the Ambulatory Surgical Centers IT Services Market include: Cerner corporation; eClinical Works; McKesson Corporation; Medical Information Technology, Inc.; Surgical Information Systems, LLC; NextGen Healthcare; Allscripts Healthcare Solutions Inc.; HST Pathways; CUREMD; Epic Systems Corporation
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- By Service Type Outlook
- Clinical Documentation
- Practice Management
- Revenue Cycle Management
- Supply Chain Management
- Patient Engagement
- By Solution
- By Delivery Mode
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Ambulatory Surgical Centers IT Services market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Ambulatory Surgical Centers IT Services market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Ambulatory Surgical Centers IT Services markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in Ambulatory Surgical Centers IT Services Market Study:
- Growth of Ambulatory Surgical Centers IT Services in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Ambulatory Surgical Centers IT Services and How to Navigate
- Key Product Innovations and Regulatory Climate
- Ambulatory Surgical Centers IT Services Consumption Analysis
- Ambulatory Surgical Centers IT Services Production Analysis
- Ambulatory Surgical Centers IT Services and Management