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06-Nov-2024

Global Urgent Care Market Poised for Remarkable Growth, Projected to Reach USD 40,828.4 Million by 2033

The global urgent care market is positioned for robust growth, with industry experts projecting its value to surge from USD 26,099.8 million in 2023 to a remarkable USD 40,828.4 million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.6%. This substantial market expansion is fueled by the rising demand for rapid and accessible healthcare solutions amidst the growing prevalence of chronic illnesses and increased patient awareness.

Key Drivers of Growth in the Urgent Care Market

With chronic conditions becoming increasingly common, demand for accessible, timely healthcare has never been more critical. The urgency surrounding chronic diseases and accident-related injuries is amplifying the need for urgent care facilities, making them vital healthcare hubs across both urban and rural areas. Government support and a rise in public health awareness are accelerating this shift, positioning urgent care as a go-to solution for immediate medical needs.

The sector’s growth is further supported by technological advancements that streamline patient care. From user-friendly mobile apps to integrated telemedicine capabilities, urgent care providers are increasingly adopting contemporary technologies to enhance patient experience and operational efficiency. Favorable reimbursement practices in both developed and emerging economies also bolster the urgent care market, making services more accessible and affordable for a larger segment of the population.

Challenges Facing the Urgent Care Market: Skilled Workforce Shortages

While growth prospects are optimistic, the urgent care market faces significant challenges—chiefly, a shortage of skilled healthcare professionals. As demand rises, the need for a qualified and efficient workforce becomes increasingly urgent. Meeting this demand requires substantial investments in training programs, policy reforms, and a regulatory environment that supports workforce expansion.

Financial constraints also pose a hurdle, as stringent reimbursement rules impact the market’s financial sustainability. Providers must navigate these challenges to ensure that patients have continued access to affordable, high-quality urgent care services.

The urgent care market’s projected growth reflects a broader healthcare shift toward accessible, responsive medical care, driven by the evolving needs of today’s patients. With the support of technology and favorable government policies, urgent care facilities are well-positioned to meet rising healthcare demands. Addressing workforce shortages and navigating reimbursement complexities will be crucial in realizing the market’s full potential.

“The expansion of the healthcare sector infused with government funding and the rise in favorable policies and initiatives promoting quick and affordable care services contribute to the growth of the urgent care market,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI) analyst.

Key Takeaways from the Urgent Care Market Report:

  • The pain management sub-segment of the services category accounts for a market share of 8.5% in 2023.
  • The corporate-owned urgent care sub-segment holds a share of 31% of the market by ownership.
  • The United Kingdom market is expected to register a CAGR of 3.1% through 2033.
  • The German market is projected to develop at a CAGR of 2.8% from 2023 to 2033.
  • The China urgent care market is anticipated to record a CAGR of 6.9% over the forecast period.
  • The market in India is expected to exhibit a CAGR of 5.4% from 2023 to 2033.
  • The market in Japan is expected to flourish at a CAGR of 3.8% through 2033.
  • The North American urgent care market accounts for a share of 52% in 2023.
  • The European urgent care market holds a share of 4.8% in 2023.

Unlock Full Analysis: Find the Complete Report on Urgent Care Market Here

Competitive Landscape in the Urgent Care Market:

The global market is fragmented due to the presence of several urgent care-providing firms. Key urgent care businesses are using expansion tactics to broaden their worldwide reach, including new product development and launches, product approvals, agreements, collaborations, and mergers.

Recent Developments in the Urgent Care Market:

  • ICV Partners, LLC in March 2022, announced the merger of Urgent Care Group and its portfolio company Total Access Urgent Care. ICV Partners, LLC is a renowned investment firm specializing in lower- and middle-market business services, consumer goods and services, food and beverages, and healthcare industries.
  • Adventist HealthCare and CRH Healthcare, which runs urgent care centers in Alabama, Florida, Georgia, and Maryland, bought three urgent care centers in Germantown, Rockville, and Laurel in February 2022. All three centers have established themselves as leaders in their respective communities by addressing the walk-in urgent care demands of patients in the area as well as the needs of employers, owing to the availability of qualified medical professionals and support staff.

Key Urgent Care Market Players:

  • FastMed Urgent Care
  • HealthWorks, Inc.
  • MedExpress
  • MinuteClinic, LLC
  • AFC/Doctors Express, LLC, U.S.
  • CareSpot Express Healthcare
  • Patient First
  • NextCare Urgent Care
  • CareSpot Express Healthcare LLC
  • Concentra Inc.
  • MD Now.
  • American Family Care
  • Aurora Urgent Care
  • Bellin Health
  • Dignity Health Care
  • Hometown Urgent Care & Occupational Health
  • TexasMedClinic
  • USA HealthWorks

Key Segments:

By Services:

  • Cold, Cough & Flu
  • Allergy Treatment
  • Pain Management
  • Ear & Eye infections
  • Respiratory infections
  • Dehydration & Diarrhea
  • Urinary Tract Infections
  • Sports injuries
  • Burn Cases
  • Minor Cuts & Lacerations
  • Asthma Care
  • Sprain & Broken Bones
  • High Blood Pressure
  • Wound Care
  • Minor Skin Rashes & Infection
  • Immunization
  • Wound Care
  • Lab-Based Tests
  • Diagnostic Imaging Services
  • Telehealth Urgent Care
  • Others

By Type of Patient:

  • 6 to 18 Years
  • 19 to 35 Years
  • 36 to 65 Years
  • 65 to 80 Years
  • 80 Years & Above

By Ownership:

  • Hospital Owned-Urgent Care
  • Physician Owned Urgent Care
    • Multi-Physician Owned Urgent Care
    • Single-Physician Owned Urgent Care
  • Corporate Owned Urgent Care
  • Private Equity & Joint Ventures Owned Urgent Care

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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Last Updated: 06-Nov-2024