A new Transparency Market Research report states that the global urgent care centers market stood at US$23.5 bn in 2013 and is predicted to reach US$30.5 bn by 2020. It is anticipated to expand at a CAGR of 3.80% from 2014 to 2020.
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Urgent care is a type of walk-in clinic providing ambulatory care within a dedicated medical facility outside of a conventional emergency room. Urgent care centers majorly treat illnesses or injuries that need immediate care. However, these types of illnesses are not serious enough and thus do not need an ER visit. Urgent care centers thus allow easy access to an affordable healthcare experience to patients. Nowadays, urgent care centers are equipped with cutting-edge technology and offer life-saving procedures for the fast recovery of patients. In terms of service, the market for urgent care centers is segmented into injury, illness, physical, diagnostic, screening, and vaccination.
As stated in the report, the increasing aging population and the emergence of cost-effective medical care are amongst the prime drivers stimulating the market for urgent care centers. In addition, the reduction in waiting time and the flexibility in appointment provided by urgent care centers attract huge patient pool, thus augmenting the growth of the market. Furthermore, the rising investments in the market for urgent care centers has been resulting in the rise in number of advanced urgent care centers across the world, thus impacting the market positively. On the other hand, the absence of physicians and the increasing initial establishment costs of urgent care centers may inhibit the growth of the market in forthcoming years.
In terms of geography, the global urgent care centers market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, North America led the market in 2014 and was trailed by the region of Europe, which accounted for the second-largest share in the market. The region of North America is anticipated to maintain its superiority throughout the forecast horizon. This is owing to the rising demand for walk-in health services and the increasing preference for cost-effective medical care facilities within North America. In addition, the use of urgent care centers in case of non-emergency conditions is also a prime factor augmenting the growth of the market in North America.
On the other hand, countries such as that of India, Japan, New Zealand, Australia, and China are the prime countries within the region of Asia Pacific offering great opportunities for the companies dominant in the market for urgent care centers. Within RoW, countries such as that of Mexico, South Africa, Israel, UAE, and Turkey are the prime countries in which the market for urgent care centers is predicted to grow exponentially in forthcoming years.
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The report states that the market for urgent care centers is fragmented in nature and small vendors such as physician groups or physicians account for about 35% of the these centers. As per the report, the prime players operating in the market are CareSpot Express Healthcare LLC, FastMed Urgent Care, MedExpress, and Patient First and U.S. HealthWorks, Inc., among others.
The global urgent care centers market is segmented as follows:
Urgent Care Centers Market, by Services