In a recent article published by the Urgent Care Association of America, it was mentioned that there are roughly 7,100 urgent care center across the U.S. Conversely, there is a very high need for urgent care across the world as the number of patients with unmet needs is increasing. This serves as a positive opportunity for the key players in the global urgent care centers market, who are looking to expand their services across a global platform.
The global urgent care centers market is expected to reach US$30.50 bn by the end of 2020. It is expanding at a CAGR of 3.80% from 2014 to 2020 and was recorded at US$23.50 bn in 2013. The key players in the global urgent care centers market include U.S. HealthWorks, Inc., Patient First, NextCare Urgent Care, MedExpress, MinuteClinic LLC, MD Now, FastMed Urgent Care, Concentra Inc., CareSpot Express Healthcare LLC, and AFC/Doctors Express.
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Global Urgent Care Centers Market Boosted by Growing Patient Needs
Urgent care centers are an emergent force in the healthcare industry. Multiple models of this medical aid system are being implemented across the world and spearheaded by some of the biggest names in the business. Urgent care centers are key to meeting the ever-increasing medical needs of patients in a fast, convenient, and cost-effective method. It therefore implies that the global urgent care centers market is currently being driven by the high demand for medical care itself. The increasing prevalence of patients with chronic illnesses, the growing instances of accidents and health issues across the world, and the increasing percentage of the geriatric demographic are all factors pushing the healthcare industry to further the development and proliferation of the global urgent care centers market.
UCCs Providing Much-needed Rapid Medical Attention
One of the biggest problems plaguing the global healthcare industry is the inability to provide fast care and attention to incoming patients. The long waiting periods for appointments have led to many patients going untreated. Another issue with emergency care wards and hospitals is the limited access that patients have to after-hours medical attention the farther they are from major urban areas. This leaves a massive gap left to be filled in by the global urgent care centers market. Urgent care centers give sufficient medical attention to patients; a patient, on an average, will receive medical attention within 15 to 45 minutes of entering the UCC. Therefore, the future of the global urgent care centers market looks highly positive.
Insurance Coverage on UCCs Adds to Market Benefits
Another critical point that adds to the benefits that the global urgent care centers market can provide is the extension of insurance coverage on to urgent care centers. A growing population across developed economies, especially in the U.S., is now being covered by favorable insurance schemes, most of which include coverage of urgent medical care. Extended coverage was added to nearly 32 mn American citizens through the Patient Protection and Affordable Care Act of 2010, a move which has massively enhanced the medical care that can be provided to the people. The global urgent care centers market can be a valuable asset for healthcare institutions in this case.
It could even be said that the global urgent care centers market will provide enough strength in facilities and services to replace emergency room services offered by primary medical organizations across the U.S. This could create a major field of opportunities for private players and equity firms to enter the global urgent care centers market.