DUBLIN--(BUSINESS WIRE)--The "Urgent Care Center Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The urgent care centers market is projected to grow with a CAGR of 5.2%, during the forecast period. The factors such as an increase in investment in urgent care centers by hospitals and the growing geriatric population are expected to drive the market.
Furthermore, affordability and shorter period of waiting compared to conventional healthcare are playing a vital role in fueling the market growth. For instance, in most of the regions, individuals are preferring urgent care centers for minor conditions such as injuries and other acute conditions. However, factors such as a dearth of skilled professionals, regulatory policies and friction with insurers are expected to hinder the market growth over the forecast period. For instance, some of the insurers require urgent care facilities to have 24 hours of emergency medical care and certified physicians onsight.
Key Market Trends
Hospital Owned Urgent Care Centers Segment is Anticipated to Grow at high CAGR over the forecast period
- Hospital owned urgent care centers are the urgent care facilities operated in the remote areas as an extension of hospitals. This expands the hospital's clinical reach to the other regions and coordinates care.
- As the urgent care centers are growing in a notable phase, hospitals and primary healthcare providers are focusing on entering into the urgent care centers market to prevent their patients from leaking away to alternative care. Furthermore, favorable reimbursement environment for the hospital-owned urgent care centers and ease of market entry compared to other segments expected to boost the hospital-owned urgent care center market growth.
On the other hand, due to advancements in diagnostic technologies and a rise in the geriatric population around the world, diagnostic services, and acute illness treatment solutions are gaining momentum in the urgent care market.
North America Dominates the Market
North America is expected to dominate the overall urgent care center market, throughout the forecast period. This is due to factors such as technological advancements in telemedicine and adaptation of such technologies by urgent care providers to strengthen its services. Furthermore, increasing healthcare spending and the number of urgent care centers, especially in the United States expected to boost North America's urgent care centers market over the forecast period.
The urgent care center market is moderately competitive. Regional players dominate the market as there is a low scope for global players. Market players are using strategies such as acquisitions and expanding the offerings to strengthen the market share. The key market players operating in urgent care centers include, and not limited to, U.S. HealthWorks, Inc., Concentra, Inc, MedExpress, NextCare Holdings, Inc, and St Joseph's Health Care London.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Geriatric Population
4.2.2 Rising Number of Hospitals Entering Into Urgent Care Market
4.3 Market Restraints
4.3.1 Stringent Regulatory Infrastructure
4.3.2 Lack of Skilled Professionals
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Service
5.1.1 Trauma/Injury Services
5.1.2 Vaccination Services
5.1.3 Acute Illness Treatment Solutions
5.1.4 Diagnostic Services
5.1.5 Other Services
5.2 By Ownership
5.2.1 Corporate Owned
5.2.2 Hospital Owned
5.2.3 Physician Owned
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 U.S. HealthWorks, Inc.
6.1.2 Concentra, Inc.
6.1.4 NextCare Holdings, Inc
6.1.5 St Joseph's Health Care London
6.1.7 City Practice Group of New York
6.1.8 HCA Healthcare UK
6.1.9 AEA International Holdings Pte. Ltd.
6.1.10 GoHealth Urgent Care
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/upagyi
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