Urgent Care Centers Market Expected to Reach USD 30.5 Billion Globally in 2020: Transparency Market Research

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Transparency Market Research

Jan 29, 2015, 03:00 ET


Albany, New York (PRWEB) January 29, 2015 -- According to a new market report published by Transparency Market Research “Urgent Care Centers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,” the global urgent care centers market was valued at USD 23.5 billion in 2013 and is expected to grow at a CAGR of 3.8% from 2014 to 2020, to reach an estimated value of USD 30.5 billion by 2020.

UCCs offer services on a walk-in, no appointment basis for non-life threatening illnesses and injuries. The majority of UCCs also provide services in occupational medicine, vaccinations, diagnostic, screening and monitoring and school physicals. Over the last two decades, the number of UCCs has been increasing all over the U.S., and the number continues to grow. Presently, more than 9,000 urgent care centers are operational in the United States alone.

Market Research Report of Urgent Care Centers: http://www.transparencymarketresearch.com/urgent-care-centers-market.html

The UCCs market is a diverse playing field where pioneering leaders have built urgent care models to address the extensive demand for cost-efficient and convenient health care. The UCCs have seen significant growth over the last decade due to longer waiting times for appointments with emergency departments (EDs) and primary care providers, difficulty in same-day access for sick care and limited access to after-hours care at hospitals and other health care providers. Majority of the UCCs operate seven days a week, and remain open from 9:00 am to 7:00 pm or later on weeknights. A physician, nurse practitioner, or physician assistant usually attends patients within 15 to 45 minutes on arrival in comparison to approximately four-hour average ED visit time. The UCCs market is expected to witness more transactions and consolidations in the next three to four years. One of the important factors driving the market is the constantly increasing insured population. Expanding health insurance coverage in the U.S. is expected to increase the demand for urgent care services. Patients with private coverage are more likely to seek medical treatment at an urgent care center than at an ED or other hospital settings. The Patient Protection and Affordable Care Act (2010) have added coverage for a new group of approximately 32 million individuals in 2014. The changes brought by the Affordable Care Act would be pivotal to UCCs becoming a standard for convenient and affordable public health care. According to industry experts, the new act would influence the Urgent Care Centers Market significantly by penetrating into the sub-urban areas.

The urgent care industry would continue to be a forcing house of deals over the next five years, as different financial and strategic partners race to institute a strong geographical presence and larger market share. With the current trend, UCCs would quickly replace primary care physicians and emergency rooms across the U.S. Consequently, dozens of private equity firms have already put capital to work in UCCs across the country to exploit the high profit margin health care market. The market has already seen huge capital investments from leading equity firms in the past few years.

However, physician access is expected to worsen in the next few years and could affect the growth of the UCCs market. The American Association of Medical Colleges stated that up to one third of the physician population would retire in the next decade, which is expected to have a restraining effect on the growth of the overall UCCs market.

Press Release of Urgent Care Centers Market: http://www.transparencymarketresearch.com/pressrelease/urgent-care-centers-market.htm

The global urgent care centers market is segmented on the basis of major services offered by the centers. These include services for moderate illness, injury and trauma, physical, routine vaccination, diagnostic and screening and monitoring. The major share of the revenue was generated through illness services that accounted for majority of the share in the global urgent care centers market followed by the injury segment. Diagnostic segment has been anticipated to grow at a fastest CAGR during the forecast period from 2014 to 2020 due to increasing prevalence of metabolic and cardiovascular diseases.

In a geographical sense, the market has been categorized into four major regions, namely, North America, Europe, Asia Pacific and Rest of the World. North America accounted for the maximum share of the global market in 2013 followed by Europe. The ever increasing demand for affordable and convenient health care in the U.S. has been the major contributing factor for the growth of market in this region. The market for UCCs is expected to grow at a rapid pace during the forecast period from 2014 to 2020 in the Asia Pacific and Rest of the World market. The improving healthcare infrastructure in this region is attributed to the growth the urgent care centers market in this region. Competitive landscape of UCCs market consists of a large number of small players along with very few companies with international reach. Concentra Inc. was the largest stake holder in 2013 with an over 310 centers across 40 states.

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The global medical waste management market is segmented as follows:

Urgent Care Centers Market, by Services
• Illness
• Injury
• Physical
• Vaccination
• Diagnostic
• Screening
Urgent Care Centers Market, by Geography
• North America
• Europe
• Asia-Pacific
• Rest of the World (RoW)

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