Ambulatory Surgical Centers IT Services Market Size to Grow at a CAGR of 19.8% During the Forecast Period 2020–2025

Ambulatory Surgical Centers IT Services Market size in 2019 is estimated to be $2.8 billion, growing at a CAGR of 19.8% during the forecast period 2020-2025. Ambulatory surgical centers are modern healthcare facilities that provide same-day surgical care, including diagnostic and preventive procedures in a cost-effective way. IT services in ambulatory surgical centers helps to remove error and reduce cost incurred for patient care. Increasing adoption of healthcare IT solutions in ambulatory service centers coupled with rising number of surgeries are the major factors driving the growth of the market.

Ambulatory Surgical Centers IT Services Market Segment Analysis - By Service Type

Based on the Service Type, Ambulatory Surgical Centers IT Services Market is segmented into Electronic Health Records (EHR), Ambulatory Practice Management (PM), Revenue Cycle Management, Clinical Documentation, Patient Engagement, Others. The clinical documentation segment is forecast to be the fastest-growing segment with a CAGR of 18.3% during the forecast period 2020-2025. This is mainly owing to its advantage of reducing cost and errors. The growing demand for better methods to access and improve accuracy of documentation of patient clinical information are contributing to the growth of this segment.

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Ambulatory Surgical Centers IT Services Market Segment Analysis - By Solution

Based on the Solution, Ambulatory Surgical Centers IT Services Market is segmented into Software, Service. The software solution is projected to be the fastest-growing in the Ambulatory Surgical Centers IT Services market. This is mainly owing to rising demand of Software as a Service (SaaS) in the healthcare industry owing to its affordability. Moreover, technological advancement in software is also contributing to the growth of this segment.

Ambulatory Surgical Centers IT Services Market Segment Analysis - By Geography

North America dominated the Ambulatory Surgical Centers IT Services market share accounting for 45% of the market in 2019. This is mainly owing to increasing adoption of healthcare IT services coupled with increased number of ambulatory surgical centers here. Higher preference of ASCs by the population here are also contributing to this dominance.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing number of surgeries coupled with technological advancement and increased adoption of IT services by surgical centers. Healthcare spending has also increased in these countries contributing to the growth of IT services in such healthcare industries.

Ambulatory Surgical Centers IT Services Market Drivers

Increasing Adoption of IT Healthcare solutions

Increasing adoption of healthcare IT solutions such as Ambulatory Practice Management (PM), Revenue Cycle Management, Clinical Documentation for better performance and management are some factors driving the growth of Ambulatory Surgical Centers IT Services market. These IT services increase the efficiency of functioning in ASCs and reduce costs.

Growing number of surgeries

Growing number of surgeries has influenced demand for healthcare IT service as it helps ambulatory surgical services to control healthcare cost and improve management by reducing errors, thereby driving the growth of the market.

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Ambulatory Surgical Centers IT Services Market Challenges

High cost of healthcare infrastructure to manage IT services are challenging the growth of the market. Moreover, rising concern of data security on these IT services are restraining the market growth during the forecast period 2020-2025.

Ambulatory Surgical Centers IT Services Industry Outlook

Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Ambulatory Surgical Centers IT Services Market. Ambulatory Surgical Centers IT Services top 10 companies are NextGen Healthcare, Cerner Corporation, McKesson Corporation, Athenahealth, EMIS Health, HST Pathways, Optum, Medical Information Technology, Inc., MEDITECH, Epic Systems Corporation

Acquisitions/Product Launches:

In December 2018, NextGen Healthcare has launched a cloud-based data aggregation platform, Health Data Hub. This technology meets the needs for interoperability and seamless information sharing for healthcare networks.
In October 2019, Cerner Corporation has acquired AbleVets—a strategic IT consulting and engineering firm.

Key Takeaways

In 2019, North America dominates the Ambulatory Surgical Centers IT Services Market owing to high number of ASCs here as well as the increased adoption of IT service in them.

Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Ambulatory Surgical Centers IT Services Market report.

High cost of healthcare infrastructure to manage IT services and data security issues are challenging the growth of the market.

Related Reports :

A. Ambulatory Surgery Centre Market

https://www.industryarc.com/Report/15392/ambulatory-surgery-centers-market.html

B. Ambulatory EHR Market

https://www.industryarc.com/Research/Ambulatory-EHR-Market-Research-501336

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