Urgent Care Centers Market Estimated to Expand at a Robust CAGR by 2025
Urgent Care Centers Market: Introduction
According to the report, the global urgent care centers market was valued at US$ 23.5 Bn in 2018 and is projected to expand at a considerable CAGR during the forecast period. Urgent care centers (UCCs) are an important section of the healthcare industry that provides non-emergency care to the general population. UCCs offer various services on walk-in on no appointment basis for non-life threatening illnesses and injuries. Services provided by UCCs include illness, injury, physicals (school physicals), occupational medicine, vaccinations, diagnostic, screening, and monitoring. Illness services account for major share of the global urgent care centers market, followed by the injury segment. These two segments together account for nearly 65% of the global market.
North America dominated the global urgent care centers market in 2018 and the trend is anticipated to continue during the forecast period. According to the latest report published by Urgent Care Association, the number of urgent care centers rose 9.6% in the U.S. from 8,774 in 2018 to 9,616, nearly 47% of the world’s total urgent care centers, in November 2019.
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Advantages of Urgent Care Centers
The UCCs market has different ownerships, where one or more physicians and hospitals/franchise owners come together to address the demand for inexpensive and convenient healthcare. UCCs have witnessed significant developments in the past few years due to longer waiting hours for appointment in emergency room and other healthcare providers, issues with same-day access for sick care, and limited access to after-hours care at hospitals and other primary care providers. A large number of the UCCs work all the days of the week, and remain open from 8:00 am to 7:00 pm or later on weeknights. A qualified professional, such as doctor, nurse, or physician assistant, attends the patient within less than 30 minutes from arrival in comparison to approximately 2 hours and 30 minutes on average ED visit time.
Walk-ins are welcome, and there is no need to plan an appointment. However, appointments can get a patient in and out more rapidly. Appointments can be made through online portal, which also publishes wait time in clinic.
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Illness to Lead Global Market
In terms of service, the illness segment is projected to account for a major share of the global urgent care centers market during the forecast period. The most common illnesses treated at UCCs are fever, cough & cold, urinary tract infections (UTIs), pharyngitis, respiratory tract infections, and otitis media.
Hospital-owned Urgent Care Centers to Dominate Global Market
In terms of ownership, the hospital-owned urgent care centers segment is anticipated to account for major share of the global urgent care centers market during the forecast period. Hospitals are looking to expand their brand, which can be achieved by UCCs, as they provide several sources for referral of specialists, physical therapy, and lab imaging.
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Urgent Care Centers Market: Prominent Regions
The global urgent care centers market has been segmented into four major regions: North America, Europe, Asia Pacific, and Rest of the World (RoW). North America dominated the global urgent care centers market in 2018. The U.S. is the major market in the region. The growth of the market in the region can be attributed to cost-efficiency of UCCs, easy access, less time consuming, and services covered under insurance. The urgent care centers market in Asia Pacific is expected to expand at a high CAGR from 2019 to 2027. The market in the region is likely to be driven by developing countries such as China and India. The focus of market players on strengthening presence in emerging economies in order to leverage growth opportunities propels the market in Asia Pacific.
Key Players in Urgent Care Centers Market
The global urgent care centers market is fragmented in terms of number of players. Key players operating in the global urgent care centers market are Concentra, Inc., MedExpress, American Family Care, NextCare Holdings, Inc., FastMed Urgent Care, HCA CareNow, CareSpot Family of Urgent Care Brands, CityMD, and GoHealth Urgent Care, among others.
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