Emphasis on Medical Service (Acute Illness Treatment, Trauma/Injury Treatment, Physical Examinations, Immunizations & Vaccination, Others); Application (Corporate-owned, Physician-owned, Hospital-owned, Others); and Region/Country
The Urgent Care Center market was valued at approximately USD 77.9 Billion in 2023 and is expected to grow at a robust CAGR of around 5.7% during the forecast period (2024-2032) owing to the increasing demand for convenient, cost-effective healthcare services, along with the shortage of primary care providers and overcrowded emergency rooms. Additionally, the rise of telemedicine and the need for quick, accessible treatment options for non-life-threatening conditions further fuel market expansion
The urgent care centers market is expected to grow at a strong CAGR owing to the rising strategic alliances between hospitals and urgent care providers and the rising investment in urgent care. For instance, in January 2022, U.S-based HCA Healthcare acquired MD Now Urgent Care from private equity firm Brentwood Associates. Urgent Care is a clinic that deals with clients with less severe medical ailments and is different from a hospital emergency center. Conditions that require medical attention that do not qualify the patient for an emergency department are handled by urgent care centers. There are more instances of cardiovascular or sports-related injuries; this has helped reduce the wait time for patients and also created awareness of the urgent care facilities. The probability of sinking or being caught in water was at a rate of 3.1 per 100,000 population while for exercise equipment, it was 370,000 based on data obtained from the U. S National Safety Council (NSC) with the latest figure of the year 2021 revealing that exercise equipment caused about 409,000 injuries, the highest in any category of sports and recreation. Other factors such as the rising geriatric population which is more prone to facing accidents and health disorders are driving the growth of the market.
This section discusses the key market trends influencing the urgent care market segments as identified by our research experts.
Trauma/Injury Treatment Transforming Industry
Based on medical service, the market is segmented into acute illness treatment, trauma/injury treatment, physical examinations, immunizations & vaccination, and others. Trauma/Injury treatment is expected to grow with a significant CAGR during the forecast period. The rise in major and minor injuries due to accidents that require immediate care is expected to drive the urgent care centers market. For instance, as per the US Department of Veteran Affairs, in 2020, about 6 of every 10 men (or 60%) and 5 of every 10 women (or 50%) experienced at least one trauma in their lives. Moreover, men are more likely to experience accidents, physical assault, combat, disaster, or to witness death or injury.
Asia Pacific is Expected to Grow with Significant CAGR During Forecast Period
The factors that are driving the Asia Pacific urgent care centers market are as follows: Due to these reasons, the Asia Pacific urgent care centers market is expected to boom in the coming few years. Medical conditions, including heart attack, road accidents and asthma are on the rise, and people need urgent care centers where they can be attended to. For instance, from the Indian Express it was realized that the percentage prevalence for asthma ranges from 2-23% in India.
The urgent care market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Concentra, Inc., MedExpress, NextCare, HCA Management Services, L.P., FastMed Urgent Care, Ascension, Summit Health, WellNow Urgent Care, American Family Care, and GoHealth Urgent Care
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1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Urgent Care Center Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Medical Service
8. Market Insights By Ownership
9. Market Insights By Region
10. Value Chain Analysis
11. Competitive Landscape
12. Company Profiled
13. Acronyms & Assumption
14. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Urgent Care Center market were the three major steps undertaken to create and analyze the adoption of Urgent Care Center in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Urgent Care Center market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Urgent Care Center market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the urgent care market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as medical service, ownership, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Urgent Care Center market. Further, we conducted factor analysis using dependent and independent variables such as medical service, ownership, and urgent care market regions. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Urgent Care Center market sector across the globe.
Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the global Urgent Care Center market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global urgent care market. Data was split into several segments and sub-segments after studying various parameters and trends in the medical service, ownership, and regions of the global Urgent Care Center market.
The current & future market trends of the global urgent care market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the global urgent care market's current size and growth potential?
Q2: What are the driving factors for the growth of the global urgent care market?
Q3: Which segment has the largest share of the global urgent care market by medical service?
Q4: What are the emerging technologies and trends in the global urgent care market?
Q5: Which region will dominate the global urgent care market?
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