Urgent Care Centers Market Overview
The Urgent Care Centers Market Size is estimated to reach $28.7 billion by 2027 and it is poised to grow at a CAGR of 5.9% over the forecast period of 2022-2027. Urgent Care Centers are medical care facilities that offer healthcare services on a walk-in, non-appointment basis for acute illness treatment, immunizations, vaccinations and others. The consumer demand for convenient access to care is one of the foremost factors which have boosted its growth. Additionally, as per various patient testimonials, urgent care centers allow them to steer away from costly emergency department visits. Due to the growing geriatric population along with a rapid increase in chronic illness, the Urgent Care Centers industry outlook remains optimistic during the forecast period of 2022-2027.
Urgent Care Centers Market Report Coverage
The report: “Urgent Care Centers Market Forecast (2022-2027)" by IndustryARC, covers an in-depth analysis of the following segments in the Urgent Care Centers Market.
By Service: Acute Illness Treatment, Trauma/Injury Treatment, Physical
Examination, Immunizations & Vaccinations and Others.
By Ownership: Corporate Owned, Physician Owned (Multiple Physician Owned & Single Physician Owned), Hospital Owned and Others.
By Geography: North America (the U.S., Canada, Mexico), Europe (Germany, the UK, France, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan India, South Korea, Australia and New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).
- Geographically, North America held a dominant market share in 2021. It is due to a robust medical infrastructure supported by excellent insurance coverage across the geographies and a higher tendency of the population to seek medical attention.
- A growing geriatric population supported by the rising number of hospitals entering the segment of urgent care setup is one of the major drivers of the market. However, stringent regulatory infrastructure, lack of skilled professionals and extensive competition in the medical-care facility impede the market growth.
- A detailed analysis of the strengths, weaknesses, opportunities and threats would be provided in the Urgent Care Centers Market Report.
Urgent Care Centers Market Segment Analysis - by Service
The Urgent Care Centers Market based on service can be further segmented into Acute Illness Treatment, Trauma/Injury Treatment, Physical Examination, Immunizations & Vaccinations and Others. The trauma/Injury Treatment segment held a dominant market share in 2021. It is because injuries are very common in today's world. Additionally, urgent care centers offer convenience to the patient as per various testimonials from patients across the globe. As per the American Association for the Surgery of Trauma, every year in the U.S., around 1 million people suffer Traumatic Brain Injury. However, Physical Examinations are estimated to be the fastest-growing segment, with a CAGR of 6.9% over the forecast period of 2022-2027. It is because this segment offers faster results for examinations than other forms of intermediaries and allows patients to save costs in comparison to primary care offices or ER.
Urgent Care Centers Market Segment Analysis - by Ownership
The Urgent Care Centers Market based on ownership can be further segmented into Corporate Owned, Physician Owned (Multiple Physician Owned & Single Physician Owned), Hospital Owned and Others. Hospital Owned segment dominated the market in 2021. It is because of the ease of extension of a service class in which hospitals already have expertise. Additionally, hospital-owned urgent centers fill the need between emergency care and primary care. As per the Urgent Care Association Benchmarking Report 2019, a total of 9,616 centers were present in the U.S. on November 2019. However, the Corporate Owned segment is estimated to be the fastest growing, with a CAGR of 6.3% over the forecast period of 2022-2027. It is due to a growing number of investments, mergers and acquisitions, along with other strategic alignments which would propel the growth of this form of ownership during the forecast period.
Urgent Care Centers Market Segment Analysis - by Geography
The Urgent Care Centers Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share of 36% in 2021 and is estimated to be the fastest-growing segment, with a significant CAGR over the forecast period of 2022-2027. This is because of a substantial investment made by government and private entities within the region. Moreover, there are factors such as technological advancements in telemedicine and the adaptation of such technologies by urgent care providers to strengthen their services, along with the rising prevalence of chronic diseases and high public and private healthcare spending. As per Urgent Care Association 2020, nearly 357 visits by patients are made in the U.S. every week.
Urgent Care Centers Market Drivers
The geriatric population across the globe has been rising significantly and it currently holds a sizable share of the entire population. Senior populations are more likely to fall sick or suffer from fall injuries amongst many other forms of diseases and conditions. The primary role of urgent care centers is to provide immediate care to medical emergencies and injuries, with overall ease to the sufferer’s family and patient in concern. As per CDC, around 3 million visits were made by older adults for falls, resulting in nearly 34,000 deaths, making it the leading cause of injury deaths for the age group in the U.S.
The number of Urgent Care Centers is growing at a significant pace since patients are now seeking convenient and low-cost medical care. As per the Urgent Care Association, almost 97% of urgent care patient encounters lasted one hour or less. Retail clinics are typically associated with pharmacies and offer a limited menu of services. They are often handled by advanced practice providers such as nurse practitioners and physician assistants, providing growth avenues to urgent care centers. As per the Urgent Care Association Report, around 9,616 UCCs were registered in the U.S. in 2019, which was 9.6% higher than the numbers in 2018.
Urgent Care Centers Market Challenges
Stringent Regulatory Infrastructure, Lack of Skilled Professionals and Extensive Competition in the Medical-care Facilities along with Reimbursement Policies:
As per Utility Connect, an urgent care routine visit without insurance can cost anywhere between $80-$280 and rises to $140-$440 for a complex appointment. Reimbursement for uninsured and undocumented patients’ testing and treatment comes as a challenge since a major part of families and individuals have employment-based nature of healthcare coverage. During the COVID-19 lockdowns and slow-down phase, the unemployment rates were almost 15-25% in the U.S., which negatively impacted the market growth. Furthermore, continual revisions to healthcare rules and codes are made which confuse the patient pool while choosing alternatives for medical care services.
Urgent Care Centers Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Urgent Care Centers Industry. The top 10 companies in the Urgent Care Centers Market are:
- Dignity Health
- Select Medical Holdings
- United Health Group
- Next-Care Holdings
- St. Joseph Health Care London
- United Surgical Partners International
- City Practice Group of New York
- HCA Healthcare
- AEA Internationals Holdings
- Access Clinical Partners
- In September 2022, in British Columbia, a new urgent and primary care center was inaugurated. Patients would be screened by a team of 23.2 full-time equivalent (FTE) healthcare providers, including general practitioners, nurse practitioners, registered nurses, mental-health and substance-use clinicians, nursing unit aides and social workers.
- In March 2022, ICV Partners LLC, a leading investment firm focused on lower-middle-market companies in CPG and Healthcare, acquired Urgent Care Group and its portfolio company Total Access Urgent Care (TUAC).
- In January 2022, Boston Children’s Hospital and PM Paediatric started working together to provide premier urgent care for children and young adults in the Boston area. This urgent care collaboration would enable Boston Children's and PM Paediatrics to build on the initiative of high-quality clinical care and enhance the patient experience for pediatric patients in Massachusetts.
Report Code: HCR 0114
Report Code: HCR 0612
Report Code: HCR 54937
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