New York, Aug. 07, 2019 (GLOBE NEWSWIRE) -- High prevalence of emergency cases, need for out-patient services along with rising awareness are the key factors contributing to the CAGR in the forecast period.
According to the current analysis of Reports and Data, the global Ambulatory Care Service market was valued at USD 77.49 Billion in 2018 and is expected to reach USD 113.06 Billion by year 2026, at a CAGR of 4.8%. Ambulatory care is a medical care provided on an outpatient basis, without admission to a hospital. More specifically, ambulatory care services are medical services provided on an outpatient basis, including, diagnosis, observation, treatment, consultation, intervention and rehabilitation services. From the past ten years, hospitals are diverting many services to outpatient facilities.
Many medical investigations and treatments for acute and chronic ailments and illnesses and the preventive health care can be performed on an ambulatory basis including minor surgical and medical procedures such as dental services, dermatology services and many of the diagnostic procedures. Ambulatory care can be given at several sites. Some of them include, clinics, hospital emergency rooms, health campaigns etc. The increased trend of reducing the time of hospital stay and the total healthcare cost, are the key factors driving the market. . Doctors, registered nurses, physical therapists, surgical tech, medical lab tech and medical administration staff can all be found in various ambulatory care settings.
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Further key findings from the report suggest
- Ambulatory care services, though outside of a hospital, employs almost all of the same healthcare professionals as in-patient care. Thus, it has better accessibility than hospitals and is also found to be more cost effective. This is one of the key driving factors of te market.
- Several non-governmental organizations have too played a major role in increasing demand and awareness of the ambulatory care services by organizing several campaigns in remote and underdeveloped areas.
- In the past few years there have been high government expenditures for the development of ambulatory care facilities to further increase accessibility and reduce treatment costs is driving the market demand. Several NGOs have also played a crucial role in increasing the demand by conducting several healthcare campaigns.
- The need to reduce healthcare costs has increased significantly in past years given the rising cases of medical emergencies. Thus, the healthcare costs for very medical emergency is fairly high making things very difficult. However, several governments of emerging economies has started with reimbursement programs to safeguard the finances of its citizens.
- North America dominates the market by holding the largest market share. The region is technologically and infrastructural advanced and well planned making ambulatory care services accessible to a large chunk of population. The region is expected to grow at a CAGR of 4.7%.
- Asia-Pacific is the fastest growing region in the world due to its rising awareness and continuous development. The governments of several emerging economies are setting up institutions and developing infrastructure for the same. Some of them include, clinics, hospital emergency rooms, health campaigns etc. Asia-Pacific grows at a CAGR of 5.9%.
- Europe comes next in line with the second largest market share owing to the quick adoption of technologically advanced products, government policies and aids and the widespread awareness in the region. The European market is expected to grow at a CAGR of 4.5%.
- Key players in the market include Aspen Healthcare, AmSurg Corp., Concordia Care Inc., Crothall Healthcare, IntegraMed Inc. and Medical Facilities Corporation.
- Orthopedic application dominates the market due to its minimal or no invasive nature. It is seen to hold an approximate share of 54% making it the largest shareholder. The segment is expected to register a CAGR 5.2% in the forecast period. Ophthalmic application is the second fastest growing field in the market registering a CAGR of 4.5%.
- Primary care offices accounted for the largest share of the market amounting to around 59%. This is due to the cost-effective treatment and easy accessibility for diagnosis and treatment.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Ambulatory Care Service market on the basis of type, application, and region:
Type (Revenue, USD Billion; 2016–2026)
- Primary
- Emergency
- Surgery
- Other
Application (Revenue, USD Billion; 2016–2026)
- Ophthalmology
- Orthopedic
- Spinal injury
- Gastroenterology
- Plastic Surgery
- Other
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Regional Outlook (Revenue in USD Billion; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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