Urgent Care Center Market Analysis by Service (Trauma Services, Vaccination Services, Diagnostic Services, and Other Services); Ownership (Corporate, Hospital, Physician) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4898 | Published Date: May 02, 2023
Urgent Care Center Market size is estimated to garner a revenue of ~USD 67 billion by the end of 2035 by growing at a CAGR of ~8.30% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 26 billion in the year 2023. The market growth is mainly owing to the need for convenient and cost-effective healthcare services. Urgent care centers offer a variety of services, including treatment for minor illnesses and injuries, laboratory services, and X-rays. They are typically open outside of regular business hours and on weekends, providing patients with access to medical care when their primary care physicians may not be available. A report found that the majority of patients who seek care at urgent care centers are seen and treated within 30 minutes and that the average cost of a visit to an urgent care center is significantly lower than a visit to an emergency room.
In addition to this, a study found that urgent care centers are an effective and appropriate setting for the treatment of a wide range of conditions, including minor illnesses and injuries. The study found that over 97% of patients who visited an urgent care center for treatment were treated successfully and did not require transfer to an emergency department. The global urgent care center market is also becoming increasingly competitive, with a growing number of players entering the space. In addition to standalone urgent care centers, many hospitals and healthcare systems are also opening their own urgent care centers, as are retail clinics and telemedicine providers. The market for urgent care centers is expected to continue growing in the coming years, driven by several factors, including increasing demand for convenient and accessible healthcare services, rising healthcare costs, and a shortage of primary care physicians in some areas.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8.30% |
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Base Year Market Size (2023) |
~ USD 26 Billion |
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Forecast Year Market Size (2035) |
~ USD 67 Billion |
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Regional Scope |
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Growth Drivers
Challenges
The global market is segmented and analyzed for demand and supply by ownership into corporate, hospital, and physician. Out of the five types of ownership, the hospital segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the large number of patients requiring urgent care in hospital facilities. The hospitals are also growing in number. For instance, by the year 2022 there was noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology. By definition of a hospital, a county hospital is typically a primary medical facility in a region with numerous intensive care and mobile beds for patients requiring long-term care.
The global urgent care center market is also segmented and analyzed for demand and supply by services into trauma services, vaccination services, diagnostic services, and other services. Amongst these four segments, the vaccination services segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to the increased demand for vaccinations. With the rise of vaccine-preventable diseases and outbreaks, there is an increasing demand for vaccinations among both children and adults. Urgent care centers are well-positioned to provide vaccination services, as they often have the necessary infrastructure and staff in place to administer vaccines. Urgent care centers are typically open seven days a week, with extended hours, making them a convenient option for patients who may not be able to schedule a vaccination during regular business hours. Many centers also offer walk-in appointments, allowing patients to receive a vaccination without an appointment. Many urgent care centers have formed partnerships with employers and schools to provide on-site vaccination services. This can be an attractive option for employers and schools, as it can help to increase vaccination rates among employees and students, leading to a healthier workforce and student body. Overall, the vaccination services segment of the urgent care center market is experiencing significant growth owing to increasing demand, convenience and accessibility, partnerships with employers and schools, and expansion of vaccination recommendations.
Our in-depth analysis of the global urgent care center market includes the following segments:
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By Ownership |
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By Services |
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The urgent care center in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the increasing demand for healthcare services in the region. The Asia Pacific region has a large and growing population, with an increasing demand for healthcare services. Urgent care centers are well-positioned to meet this demand by providing convenient and accessible healthcare services. Many countries in the Asia Pacific region are facing a shortage of healthcare professionals, particularly in rural areas. Urgent care centers can help fill this gap by providing care for non-life-threatening conditions, reducing the burden on emergency departments and hospitals. According to a report by the World Health Organization, the Asia Pacific region has a shortage of over 4.3 million healthcare professionals, including doctors, nurses, and midwives. Advances in technology are making it easier for urgent care centers in the Asia Pacific region to provide high-quality care to patients. For instance, telemedicine is becoming increasingly common, allowing patients to consult with providers remotely.
The urgent care center in the North American region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to the growing demand for convenient and affordable healthcare services. The North American population is increasing, aging, and seeking more convenient and affordable healthcare services. Urgent care centers are well-positioned to meet this demand by providing accessible and cost-effective care for non-life-threatening illnesses and injuries. Urgent care centers are expanding their services to include primary care, occupational health, and telemedicine. This expansion is helping to meet the growing demand for convenient and accessible healthcare services while also driving growth in the regional urgent care center market. Urgent care centers are partnering with healthcare providers and payers to provide integrated care for patients. These partnerships are helping to drive growth in the urgent care center market by expanding the reach of urgent care services and increasing patient access to care.
Further, the urgent care center in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the expansion of urgent care services in the region. Urgent care centers are expanding their services to include primary care, occupational health, and telemedicine. This expansion is helping to meet the growing demand for convenient and accessible healthcare services while also driving growth in the regional urgent care center market. Urgent care centers are partnering with healthcare providers and payers to provide integrated care for patients. These partnerships are helping to drive growth in the urgent care center industry by expanding the reach of urgent care services and increasing patient access to care. Advancements in technology, such as electronic health records and telemedicine, are enabling urgent care centers to provide high-quality care to patients. These technologies are helping to improve patient outcomes, increase efficiency, and reduce costs, driving growth in the regional market.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increasing demand for convenient healthcare services and rise in research spending are the major factors driving the market growth.
Ans: The market size of urgent care centers is anticipated to attain a CAGR of ~8.30% over the forecast period, i.e., 2023 – 2035.
Ans: The high competition in the market is estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are CityMD, CareNow Urgent Care, FastMed Urgent Care, U.S. HealthWorks Medical Group, GoHealth Urgent Care, MD Now, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by ownership, services, and by region.
Ans: The market is segmented by ownership, services, and by region.
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