The
urgent care centers market is becoming an increasingly bigger part of
the global health care system. It is a lucrative business model that
is all about convenience for patients. As consumers look for less
expensive healthcare options, urgent care centers and walk-in-clinics
have been opening with greater frequency in various regions in recent
years. Now-a-days, hospital systems also are increasingly expanding
their networks into the urgent-care businesses by opening clinics at
strategic locations in the world and buying out independent practices
too. Moreover, the global urgent care centers market witnesses plenty
of funding from private equity people who believe this is a gold rush
for the forthcoming years.
Industry
Insights into the Urgent Care Centers Market
Urgent
care centers (UCCs) treat the most common illnesses and injuries –
including cuts, back pain, colds, and ear infections. Such centers
also take X-rays and perform simple urine, drug and blood tests on
patients. However, UCCs do not provide critical care services and
life-threatening surgeries. These centers are mainly considered as
ambulatory healthcare centers such as convenient care clinics and
emergency departments.
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The
urgent care center model is basically designed to provide
cost-effective healthcare services and optimum quality to general
public across the globe. Propelled by reduction in primary care
appointments and frustration over long waits in hospitals and
emergency rooms (for non-emergency care), the market has experienced
a spurt of growth for urgent care facilities in the past few years.
The number of medical facilities has increased from 8,000 to nearly
9,000 and consumers continue to yearn for similar immediate
accessible medical care centers in many emerging regions of the
world.
According
to a market firm in the U.S. the UCCs market was valued at US$23.5
billion in 2013. Moderately growing at a CAGR of 3.8% from 2014 to
2020, the market is expected to reach US$30.5 billion by the end of
2020.
Such
factors have been the driving force behind this monumental growth in
the global urgent care centers market.
Services
and Segmentations of UCC Market
The
global urgent care centers market is broadly segmented on the basis
of major services provided by medical centers. Some of the services
listed in this market segment include, services for injury, trauma,
illness, diagnostic, routine vaccination, physical, and screening and
monitoring. Amongst them, the majority of the market share of revenue
was generated by the illness services sector as of 2012. Most of the
visits in the illness segment market in the same year were for
conditions such as pharyngitis, urinary tract infections, upper
respiratory tract infections, and fever and cold. The maximum number
of illness related visits in 2012 was from the otitis media that
accounted for more than 50%. However, the illness sector was followed
by the injury segment in the global urgent care centers market. The
UCCs market is widely fragmented with small and large players,
wherein, the small players such as physician groups or physicians
hold approximately 35% of the medical centers across various regions.
New
Players will Find More Opportunities in Asia Pacific Region
Geographically,
the global UCCs market is segmented into four major regions namely,
Asia-Pacific, Europe, North America, and Rest of the World (RoW).
North America once held the majority share of the overall UCCs market
due to high adoption of UCCs for non-emergency conditions. This
region is still expected to retain its position until the end of
2020.
Europe
is at a distant second to this region in terms of growth and
development regarding the walk-in health services and cost-effective
medical care facilities. In the Asia-Pacific region, some of the
major countries that offer high growth opportunities to existing and
new companies in this market include India, China, Japan, New
Zealand, and Australia.
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