Urgent Care Center Market
Number of pages: 100 | Report Format: PDF | Published date: April 04, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 22.29 billion |
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Revenue Forecast in 2031 |
US$ 35.36 billion |
|
CAGR |
5.26% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Services, Ownership, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global urgent care center market was valued at US$ 22.29 billion in 2022 and is expected to register a revenue CAGR of 5.26% to reach US$ 35.36 billion by 2031.
Urgent Care Center Market Fundamentals
An urgent care center is a walk-in clinic that provides medical care for minor infections and injuries in an ambulatory setting other than a standard hospital-based or freestanding emergency department (ED). Other names for similar institutions are after-hours walk-in clinics, minute clinics, rapid treatment clinics, minor emergency centers, and minor care clinics. Certain facilities, such as "Minor Emergency Clinic" or "We Treat Emergencies," have used the term "emergency" in their names or ads. Even though the Urgent Care Association of America and the American Academy of Urgent Care Medicine have established standards for urgent care clinics, there are few restrictions or state licensing requirements. The urgent care center is a modern healthcare institution that gives quick medical attention to individuals who need urgent medical care but do not need to go to the emergency room. The facility provides various medical services, such as diagnostic testing, X-rays, and minor surgical operations.
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Urgent Care Center Market Dynamics
The increasing demand for urgent care centers in the management of chronic diseases is increasing the global urgent care center market. Urgent care facilities can play a significant role in chronic disease management by offering rapid medical assistance to patients experiencing acute exacerbations of their conditions. Patients with chronic diseases require ongoing interactions with primary care professionals for long-term management and preventative care. This method can reduce emergency room visits and hospitalizations while improving the quality of life for patients with chronic conditions. Primary care providers can also collaborate with urgent care centers to ensure patients receive adequate follow-up care following an acute exacerbation.
The demand for hospital-owned urgent care centers that act as an extension of hospitals in distant locations is significantly increasing. This broadens hospital clinical reach into other locations and helps to coordinate care. As the market for urgent care facilities expands, hospitals and primary care providers focus on entering the market to prevent their patients from going to alternative treatment facilities. Factors such as the rising prevalence of chronic diseases, a greater emphasis on patient care in conjunction with a favorable reimbursement environment for hospital-owned urgent care centers, and the ease of market entry in comparison to other segments are expected to drive the growth of the hospital-owned urgent care center market.
Urgent care centers can benefit from modern technologies to improve patient care, increase efficiency, and improve patient outcomes. Urgent care centers can remain competitive and deliver the best possible service by implementing modern technologies. EHRs are electronic health records that store information about patients' health. They enable healthcare providers to securely access patient information and enhance patient care efficiency. EHRs also allow doctors to exchange patient information with other doctors, which improves collaboration and communication. Urgent care centers may diagnose and treat various diseases using digital imaging techniques such as X-rays and CT scans. Digital imaging is more accurate and faster than traditional film-based imaging, which improves patient care and reduces wait times.
One restraining factor for the urgent care center market is the need for reimbursement from insurance companies, which can limit the number of patients who seek care at these facilities. Additionally, competition from other healthcare providers, such as primary care physicians and emergency departments, can challenge urgent care centers.
Urgent Care Center Market Ecosystem
The global urgent care center market is analyzed from three perspectives: services, ownership, and region.
Urgent Care Center Market by Services
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Based on services, the global urgent care center market is segmented into trauma/injury services, vaccination services, acute illness treatment solutions, diagnostic services, and other services.
The trauma/injury services segment dominated the global urgent care center market, with the majority of the market revenue share in 2022. Urgent care centers can offer a wide range of trauma and injury-related services. Urgent care centers can diagnose and treat injuries, from small cuts and bruises to sprains and fractures. Providers can use diagnostic tests such as X-rays and CT scans to determine the extent of the injury and design a treatment plan. Furthermore, urgent care clinics can provide quick treatment for more serious injuries, including head trauma and fractured bones, which can help reduce long-term consequences and improve patient outcomes. As a result, demand for trauma/injury services in urgent care clinics will likely rise during the forecast period.
The diagnostic services are expected to show steady revenue growth during the forecast years. This growth can be attributed to the rising demand for early disease detection and diagnosis and the increasing prevalence of chronic diseases. Additionally, advancements in diagnostic technologies and increased healthcare spending are expected to drive this segment's revenue growth.
Urgent Care Center Market by Ownership
Based on ownership, the global urgent care center market is segmented into corporate-owned, hospital-owned, physician-owned, and others.
The hospital-owned segment accounts for most of the global urgent care center market revenue share in 2022. Hospital-owned urgent care centers are medical facilities that provide immediate medical attention to patients with non-life-threatening diseases or injuries. Board-certified physicians typically handle these centers and offer a wide range of services, including X-rays, lab tests, and minor surgical procedures. The growing demand for urgent care services and the desire for more cost-effective healthcare solutions drive the revenue expansion of hospital-owned urgent care clinics. These facilities provide patients with convenient and accessible healthcare services, relieving the pressure on emergency departments and improving patient outcomes.
Urgent Care Center Market by Region
Based on the region, the global urgent care center market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America held the majority of the urgent care center market, with the largest revenue share in 2022. The major factor driving the revenue growth of North America's urgent care center market is the increasing demand for convenient and affordable healthcare services. Additionally, the shortage of primary care physicians in some areas has increased reliance on urgent care centers for non-emergency medical needs.
The European urgent care center industry is characterized by rising demand for quick and convenient medical treatments. The market is expected to expand as the prevalence of chronic diseases rises and the population ages. Furthermore, the adoption of new technology and the availability of trained healthcare workers are also driving market revenue expansion.
The Asia Pacific urgent care center market is expected to increase significantly during the forecast period. The increasing prevalence of chronic diseases and the rising demand for affordable and accessible healthcare services are the major factors driving the urgent care centers' market revenue growth in Asia Pacific. Additionally, adopting advanced technologies and favorable government initiatives is expected to boost the market revenue growth in the region further.
Competitive Landscape of Urgent Care Center Market
The competitive landscape of the urgent care center market is becoming increasingly competitive with the launch of new technologies and the entrance of new players in the market. Moreover, the increasing density of retail clinics and telemedicine contributors supports the global urgent care center market. As a result, established urgent care centers focus on differentiating themselves through specialized services and enhanced patient experiences.
The prominent players operating in the global urgent care center market are:
Strategic Developments in Urgent Care Center Market
The trauma/injury services segment has the largest global urgent care center market revenue share.
The global urgent care center market is expected to grow at a revenue CAGR of 5.26% during the forecast period.
MedExpress Urgent Care, HCA Healthcare, CareSpot Express Healthcare LLC, and Aea International Holdings PTE. Ltd. are a few key players in the global urgent care center market.
North America dominates the global urgent care center market with the largest revenue share.
The urgent care center market in the Middle East and Africa is limited due to the high cost of implementing and maintaining asset management solutions.
*Insights on financial performance are subject to the availability of information in the public domain