Market Research Report
Urgent Care Center Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||921953|
|Published||Content info||115 Pages
Delivery time: 2-3 business days
|Urgent Care Center Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 115 Pages||
The urgent care centers market is projected to grow with a CAGR of 5.2%, during the forecast period. The factors such as an increase in investment in urgent care centers by hospitals and the growing geriatric population are expected to drive the market.
Furthermore, affordability and shorter period of waiting compared to conventional healthcare are playing a vital role in fueling the market growth. For instance, in most of the regions, individuals are preferring urgent care centers for minor conditions such as injuries and other acute conditions. However, factors such as dearth of skilled professionals, regulatory policies and friction with insurers are expected to hinder the market growth over the forecast period. For instance, some of the insurers require urgent care facilities to have 24 hours of emergency medical care and certified physicians onsight.
Urgent care centers are the medical care facilities that offer healthcare services on the walk-in non-appointment basis for acute illness or injuries that are not life-threatening.
Hospital Owned Urgent Care Centers Segment is Anticipated to Grow at high CAGR over the forecast period
North America Dominates the Market
North America is expected to dominate the overall urgent care center market, throughout the forecast period. This is due to factors such as technological advancements in telemedicine and adaptation of such technologies by urgent care providers to strengthen its services. Furthermore, increasing healthcare spending and the number of urgent care centers, especially in the United States expected to boost North America's urgent care centers market over the forecast period. According to the Urgent Care Association, urgent care centers in the United States grown from 6,400 in 2014 to 8,774 in 2018 and expected to grow continuously in future years.
The urgent care center market is moderately competitive. Regional players dominate the market as there is a low scope for global players. Market players are using strategies such as acquisitions and expanding the offerings to strengthen the market share. The key market players operating in urgent care centers include, and not limited to, U.S. HealthWorks, Inc., Concentra, Inc, MedExpress, NextCare Holdings, Inc, and St Joseph's Health Care London.