Urgent Care Centers Market Booming at 4.4% CAGR to Reach US$ 50.3 Mn by 2031 | Global Analysis by TMR

Wilmington, Delaware, United States, May 15, 2023 (GLOBE NEWSWIRE) — The global urgent care centers market size was worth US$ 32.5 Mn in 2021 and is likely to reach a value of over US$ 50.3 Mn by 2031. The global industry is estimated to expand at a CAGR of 4.4% during the forecast period from 2022 to 2031.

Consistent growth of the healthcare sector with upcoming technological advancements enhances process outcomes and results in patient satisfaction. This is expected to have a positive impact on the market growth worldwide. A growing number of urgent care facilities can be found all over the world due to progressive government regulations and speedy licensing application procedures.

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Increasing physician need for more work-life balance, patient comfort, and reduced costs as compared to Emergency Room (ER) facilities are further anticipated to drive market development. Doctors and urgent care facility operators are concentrating on reducing the administrative load to increase productivity. Patients have been switching from conventional medical centers to urgent care clinics owing to its various advantages. UCCs offer longer hours of operation and walk-in appointments, which have resulted in rising marker demand for urgent care facilities.

Emergency rooms cost more than urgent care centers. The millennial generation has largely been responsible for the steady rise in demand for these amenities over the past ten years. Another important element driving industry growth is their lower average cost per visit compared to independent emergency departments and hospital-based emergency departments across the globe. It is projected that in the near future, demand for urgent care centers would rise quickly among the younger population.

Global Urgent Care Centers Market: Key Players

• GoHealth Urgent Care
• FastMed Urgent Care
• American Family Care
• Urgent Care Group
• Concentra, Inc.
• CRH Healthcare, LLC.

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Key Findings of Market Report

• Based on service type, the illness segment is projected to dominate the global industry with substantial share. The most common conditions treated at UCCs include respiratory tract infections, pharyngitis, colds, urinary tract infections (UTIs), cough, otitis media, and fever.
• In terms of ownership, in 2021, the hospital-owned urgent care centers segment had the dominant share of the global market. UCCs provide contacts for lab imaging, experts, and so on. As a result, hospitals are expanding their brands by acquiring UCCs or making investments in them.

Global Urgent Care Centers Market: Growth Drivers

• Higher wait times for visits with primary care physicians and emergency departments (ED) have contributed to an upsurge in UCCs during the past ten years. Another factor driving business growth is difficulty in obtaining treatment on the very same day as well as restricted availability of after-hours treatment at hospitals and other healthcare facilities. Restricted accessibility of ERs is driving patient demand for convenient care. Five out of ten people say they prefer UCCs since it takes less time to receive the appropriate care. By offering online appointment booking, posting clinic wait times, and better integration with mobile technologies, UCCs place greater emphasis on patient convenience.
• Continually rising insured population is likely to emerge as another key factor fueling market development. Market trends predict that as health insurance coverage rises in the U.S, popularity of urgent care services will increase. In contrast to receiving care in the emergency room or other hospital settings, those who have private insurance are more inclined to seek treatment in an urgent care facility. Programs have been established by insurance companies to motivate patients within their coverage areas to visit UCCs.

Global Urgent Care Centers Market: Regional Landscape

• In terms of region, North America held significant market share in 2021.  Expansion of speciality services in UCCs and the provision of speedy, affordable treatments by UCCs both help to drive up market demand in North America. For instance, walk-in treatment for diseases and injuries that need immediate medical attention but are not emergencies is offered in urgent care facilities, which have risen to 9,000 locations in the U.S. in recent years.

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Global Urgent Care Centers Market: Segmentation

Service Type

• Illness
• Injury
• Physical
• Vaccination
• Diagnostic
• Screening

Ownership

• Corporate-owned Urgent Care Centers
• Physician-owned Urgent Care Centers
• Hospital-owned Urgent Care Centers
• Other Urgent Care Centers

Regions

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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