Urgent Care Centers Market Outlook 2031
The global urgent care centers market was valued at US$ 32.5 Mn in 2021 and it is projected to grow at a CAGR of 4.4% from 2022 to 2031. The global urgent care centers market is anticipated to reach more than US$ 50.3 Mn by the end of 2031.
Urgent Care Centers Market Introduction
Urgent care facilities are less expensive than emergency rooms. Demand for these facilities has increased steadily over the last 10 years, primarily driven by the millennial generation. Lower average cost per visit than hospital-based emergency departments and independent emergency departments in many parts of the world is the other key factor propelling the global urgent care centers market size. Demand for urgent care facilities among the younger population is anticipated to increase at a rapid pace in the near future.
The elderly population is gradually shifting toward immediate care center facilities due to convenience, cost, and faster treatment. With or without an appointment, the urgent care model provides services to patients. The average wait time at an urgent care center is less than 30 minutes compared to around two hours and 30 minutes at an emergency room (ER). Urgent care centers are focusing on integration of elements from the retail sector, such as ground-floor locations for easy access, streamlined appointment scheduling procedures using cutting-edge technology, and customer-first philosophy.
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Less Waiting Time and Appointment Flexibility Driving Urgent Care Centers Market
The number of UCCs has increased over the last decade due to longer wait times for appointments with emergency departments (ED) and primary care providers, difficulties in same-day access to health care, and limited access to after-hour care at hospitals and other healthcare centers. Patients’ desire for convenient care is being fueled by the inaccessibility of ERs. One in every five patients reports going to UCC for care, as it is less time-consuming. UCCs emphasize patient convenience by providing online appointment reservations, publishing clinic wait times, and integrating more effectively with mobile technology.
Growth in Healthcare Insurance Coverage Augmenting Global Market
Steadily increasing insured population is one of the major factors propelling the global market. As per urgent care centers market trends, demand for urgent care services is anticipated to rise, as health insurance coverage increases in the U.S. Patients with private insurance are more likely to visit an urgent care facility compared to receiving care in the ER or other hospital settings. Insurance companies have put in place programs to encourage patients in their networks to go to UCCs. Insurance companies reduce the co-pay for patients who visit UCC as opposed to an ER by one-fourth.
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Treatment for Several Common Ailments Fueling Illness Segment
In terms of services, the global urgent care services market has been classified into injury, illness, physical, diagnostic, vaccination, and screening. The illness segment is likely to account for significant share of the global urgent care facilities market during the forecast period. Fever, cough, colds, urinary tract infections (UTIs), pharyngitis, respiratory tract infections, and otitis media are the most common illnesses treated in UCCs.
High Demand for Hospital-Owned Urgent Care Centers Across Globe
Based on ownership, the global urgent care centers market has been divided into corporate-based urgent care centers, physician-owned urgent care, and other urgent care centers. The hospital-owned urgent care centers segment held major share of the global market in 2021. UCCs offer leads for specialists, lab imaging, etc. Hence, hospitals are growing their brands by merging with them or investing in them.
Regional Outlook of Urgent Care Centers Market
North America dominated the global urgent care centers market in 2021. Cost-effective and quick services provided by UCCs and establishment of specialty services in UCCs contribute to the rise in urgent care centers market demand in the region. For instance, urgent care centers, which have expanded to 9,000 locations in the U.S. in the past few years, provide walk-in care for illnesses and injuries that require immediate attention but do not qualify as an emergency. According to a new qualitative study conducted by the Center for Studying Health System Change (HSC) for the National Institute for Health Care Reform, hospitals and health plans are optimistic about the potential of urgent care centers to improve access and reduce ED visits.
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The market in Europe is projected to grow at a moderate pace in the next few years. Rise in in demand for more affordable options, such as urgent care facilities, has increased in the region due to surge in healthcare spending. Demand for emergency care centers has increased significantly throughout Asia Pacific due to the rise in geriatric population, particularly in Japan and New Zealand, and surge in demand for affordable health care services in the region.
Analysis of Key Players in Global Urgent Care Centers Market
The global urgent care centers market is fragmented, with the presence of vast numbers of large-scale players. Key players operating in the global urgent care centers market are Concentra, Inc., MedExpress, American Family Care, NextCare, FastMed Urgent Care, GoHealth Urgent Care., PatientFirst, CRH Healthcare, Adventist Healthcare, and Urgent Care Group. These players are adopting growth strategies such as new product development, product launches, product approval, agreement, partnerships, and mergers to increase their global footprint.
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