Global Retail Clinics Market Size to Grow at a CAGR of 9.80% in the Forecast Period of 2023-2028
The ‘Global Retail Clinics Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global retail clinics market, assessing the market on the basis of its segments like ownership, application, end use, and major regions.
Retail Clinics Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 4.22 billion
• Forecast CAGR (2023-2028): 9.80%
Retail clinics are convenient healthcare options for patients as they are low cost, easily accessible, time saving, and offer adequate care. Retail clinics are approachable and do not require any appointment, which is fuelling the retail clinics market. The increasing prevalence of minor conditions such as flu, cold and cough, weakness, muscle strain, allergy, digestive issues, fever, and diarrhoea, among others, is leading to a heightened footfall in retail clinics. In addition, check-ups at retail clinics can be the first step towards detection of major diseases.
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The growing prevalence of lifestyle related issues infused by busy and hectic daily schedules faced by the working population, is a crucial driving factor of the market for retail clinics. The increasing geriatric population is further leading to an escalation in check-ups and diagnosis to treat age-related disorders. Some of the major advantages retail clinics offer include fixed and transparent pricing and easy accessibility in multiple locations. Over the forecast period, the anticipated increase in encouragement of retail clinics by hospitals to reduce their burden while providing users with adequate care is further likely to bolster the retail clinics market growth.
Retail Clinics Industry Definition and Major Segments
A retail clinic is defined as a type of healthcare clinic which provides on the spot care to the patients, without any prior appointment being required. Retail clinics provide treatment facilities to the patients suffering from minor injuries or diseases. These clinics are located within retail stores such as supermarkets or malls which is why these are easily accessible.
Based on ownership, the market is segmented into:
On the basis of application, the market is divided into:
• Clinical Chemistry and Immunoassay
• Point of Care Diagnostics
By end use, the market is segmented into:
On the basis of region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Retail Clinics Market Trends
The key trends in the global retail clinics market include the increasing awareness pertaining to the development of retail clinics across the emerging economies, and increasing concerns about the escalation of diseases such as cancer, tuberculosis, and diabetes mellitus, among others. Concerns such as high blood pressure among the young generation is also becoming common. Visiting retail clinics is easier and more affordable than booking appointments with doctors in healthcare centres, due to which people are likelier to visit retail clinics for minor health issues.
The favourable government regulations and initiatives aimed towards improving the healthcare infrastructure across the emerging economies are expected to provide impetus to the retail clinics market in the forecast period. These policies are further raising funding across this sector. The emergence of retail clinic websites, through which patients can explore the treatment facilities are the vital trends in the market. In this regard, the further increasing accessibility of retail clinics is a market propelling factor.
In terms of regions, North America accounts for a significant share in the market, which is being driven by the growing demand for more affordable healthcare facilities in the United States. Meanwhile, the increasing cases of minor conditions such as colds and sprains are further bolstering the market growth in this region.
Key Market Players
The major players in the retail clinics market report are:
• Walgreen Co.
• Walmart Inc.
• Rite Aid Corp.
• Bellin Health Systems
• Sutter Health
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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