Urgent Care Centers Market Growing At High CAGR By 2020
The global market for urgent care centers has been studied at length in this market research study by Transparency Market Research. As per the report, the market is considered to be highly fragmented in nature, owing to the presence of a large number of players operating across the globe. The key players in the market are making notable efforts to maintain their leading position in the market and attract a large number of consumers across the globe.
The rising number of collaborations and mergers and acquisitions is projected to enhance the competitive environment of the market in the next few years. In addition to this, the rising research and development activities is likely to support the overall growth of the market in the coming few years. Some of the key players operating in the urgent care center market across the globe are MinuteClinic LLC, Patient First and U.S., AFC/Doctors Express, MedExpress, MD Now, FastMed Urgent Care, HealthWorks Inc., CareSpot Express Healthcare LLC, NextCare Urgent Care, and Concentra Inc.
According to the market research study by Transparency Market Research, in 2013, the global market for urgent care centers was worth US$23.5 bn and is projected to reach a value of US$30.5 bn by the end of 2020. The market is likely to register a healthy 3.80% CAGR between 2014 and 2020.
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North America to Experience High Growth in Coming Years
The global market for urgent care centers has been categorized on the basis of geography into North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. In the last few years, North America accounted for a large share of the global market and is projected to maintain its leading position throughout the forecast period. The rising adoption of urgent care centers for non-emergency conditions is considered as one of the major factors anticipated to encourage the growth of this region in the coming few years.
Moreover, a significant rise in the demand for walk-in health services and the growing need for money making medical care is likely to enhance the growth of the market in the near future. Asia Pacific, on the other hand, is projected to witness healthy growth in the coming years, owing to the increasing contribution from China, India, New Zealand, Japan, and Australia.
Furthermore, the global market for urgent care centers has been categorized on the basis of services into diagnostics, physical trauma and injury, routine vaccination, illness, and monitoring and screening. The illness services segment, among the other key segments is projected to hold a major share of the global urgent care centers market in the forecast period. The most number of visits in the urgent care centers have been recorded for illness services, which is predicted to register high revenue in the coming years.
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Introduction of Specialty Urgent Care Centers to Enhance Market Growth
The rising investments in urgent care and the rising geriatric population are the major factors that are projected to encourage the growth of the global urgent care centers market throughout the forecast period. The strategic developments among the hospitals and urgent care providers and the short waiting periods and affordable care are projected to accelerate the growth of the overall market in the next few years. On the flip side, the lack of skilled workforce is predicted to restrict the growth of the market in the near future. Nonetheless, the introduction of specialty urgent care centers and the increasing use of data integration to enhance the market growth in the near future.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Urgent Care Centers Market (Illness, Injury, Physical, Vaccination, Diagnostic and Screening) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020.”
- The growing need for affordable care is considered as one of the major factors that is likely to encourage the growth of the market in the coming years.
- Use of patient engagement technologies and rising opportunities from developing nations to encourage market growth in coming years.
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