Urgent Care Centers Market Valuation to Reach US$ 35.4 Bn by 2027 Due to Increased Access to Healthcare, Low Cost of Treatment, Finds a TMR Study
Patients, especially millennials, are considering urgent care centers as a low-cost option for medical emergencies
Numbers of hospital-owned urgent care centers to rise globally owing to growing government support in various countries
ALBANY, N.Y., Aug. 16, 2021 /PRNewswire/ --Transparency Market Research: Urgent care centers (UCC) have gathered considerable worldwide traction in the healthcare system as an effective setting to provide faster access to various services. These include diagnosing and treating injuries and illnesses that need immediate care. Common illnesses are fever, cough & cold, urinary tract infection, etc. Lower cost compared to traditional emergency department (ED) visits and focus of providers on improving clinical outcomes are key factors driving the acceptance of urgent care in medical practice, thus shaping the urgent care centers market landscape.
Mainly in developed regions, the growing number of urgent care centers is expanding the scope of the traditional primary care and retail clinics in addressing a range of non-life-threatening medical emergencies in communities.
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Urgent care centers are investing in advanced medical technologies and focusing on streamlining the process of appointment for patients. This has led to increased patient convenience and swift access to urgent care. Broadly, the adherence to strict protocols in UCC settings has enabled service providers build trust among patients. Hospital-owned urgent care models present a lucrative segment, and is likely to be dominant in the market during the forecast period.
By 2027, the market is anticipated to reach US$ 35.4 Bn. Key services under the ambit of urgent care practices are occupational medicine, vaccinations, screening, and diagnostics.
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Key Findings of Urgent Care Centers Market Study
- Evolution of Urgent Care Centers to Reiterate Patient-first Approach to Healthcare: Healthcare systems are embracing the role of urgent care centers in improving the access to urgent care at lower cost compared to traditional emergency department (ED) visits. UCCs offer patient convenience by ensuring easy walk-in care for patients, which is another compelling market proposition. Companies in the urgent care centers market are considering increasing patient convenience and endorsing the trend of 'patient as a consumer' as a key point for attracting patient visits, notes a market study on the urgent care centers. The growing role of urgent care for managing illnesses that cause high morbidity will continue to redefine the urgent care centers market.
- Urgent iCare Gains Popularity amid Ongoing COVID-19 Pandemic, Reduces ED Visits: Urgent care centers have evolved to meet the surge in the demand for diagnostics for COVID-19 patients. In numerous countries, tens of hundreds of urgent care centers have been especially helpful in addressing the urgent care needs of local communities. UCCs were instrumental in reducing the number of visits to the emergency department, the demand for which surged due to the pandemic. Various models emerged in the urgent care centers market to help the healthcare system combat the rise in viral caseloads in the recent months. The raging cases of the COVID-19 infections in some economies are anticipated to bolster the demand, notes a study on the urgent care centers market.
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Urgent Care Centers Market: Drivers
- Rising healthcare costs is a key driver for new models of healthcare services, thereby boosting the urgent care centers market prospects
- High burden on primary care centers and emergency department globally has driven healthcare system to promote urgent care centers, which is proving to be a low-cost and convenient option for patients
- Over the years, governments and insurance providers in various developed and emerging economies have ramped up support for urgent care centers in re-modelling the health system, thus driving the urgent care centers market
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Urgent Care Centers Market: Regional Dynamics
- Countries in Europe and North America have been early adopters of urgent care centers. The demand has thrived due to the adoption of urgent care practices for better clinical outcomes, especially in young adults, outside of the emergency department
- North America held major market share in 2018. The number of urgent care centers has grown considerably in the region in the recent years.
- Asia Pacific is replete with new opportunities, reinforced by growing government support for easing the burden of primary care centers. Lucrative markets include Japan, China, Australia, New Zealand, and India.
Urgent Care Centers Market: Competitive Dynamics
Some of the key players that influences the current competition landscape in the urgent care centers market are:
- GoHealth Urgent Care
- Patient First
- CityMD
- FastMed Urgent Care
- NextCare Holdings, Inc
- MedExpress
- Concentra, Inc.
Global Urgent Care Centers Market: Segmentation
- Urgent Care Centers Market, by Service
- Illness
- Injury
- Physical
- Diagnostic
- Vaccination
- Screening
- Urgent Care Centers Market, by Ownership
- Corporate-owned Urgent Care Centers
- Physician-owned Urgent Care Centers
- Hospital-owned Urgent Care Centers
- Other Urgent Care Centers
- Urgent Care Centers Market, by Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Rest of the World (RoW)
- Brazil
- Mexico
- GCC Countries
- South Africa
- Rest of RoW
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