General Urgent Care Industry

This industry encompasses facilities that provide immediate medical services on a walk-in basis, differing from primary care centers where medical services are provided on a scheduled basis. As a result, urgent care centers are open 24/7. However, urgent care centers are different from emergency room care because while urgent care patients need immediate medical attention, it is not life-threatening enough to warrant emergency room care. The urgent care center market is valued at almost $30 billion, and while there are no major players with more than 5% of the market share, dominating companies include MedExpress and NextCare.

Health Care Industry Trends

Over the past decade, the healthcare industry has undergone immense growth thanks to healthcare reform, leading to an increase in the number of insured individuals, and the advent of technology and innovations dramatically improving medical care. Although telehealth existed before the pandemic, its use multiplied as more people preferred receiving care from their homes rather than go in-person and potentially be exposed to the virus. At the same time, rising hospital and emergency room costs have sparked backlash, and calls for dramatic expansion and reform of healthcare access could impact the industry even further.