In recent years, the healthcare landscape has witnessed a significant transformation with the emergence and growing popularity of retail clinics. Retail Clinics Market are small healthcare facilities conveniently located within retail stores, pharmacies, or supermarkets. These clinics provide basic medical services, such as vaccinations, minor illness treatment, and preventive screenings. The retail clinics market has experienced remarkable growth, revolutionizing healthcare access and transforming the way people seek medical care.
One of the key reasons for the increasing popularity of retail clinics is their convenience and accessibility. With longer operating hours, walk-in appointments, and minimal wait times, these clinics offer a hassle-free alternative to traditional healthcare settings. They cater to individuals seeking immediate care for minor ailments without the need for prior appointments, making them particularly appealing to busy individuals or those without a regular primary care physician.
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The global Retail Clinics Market is predicted to exhibit a CAGR of 9.6% throughout the projection period from 2022 to 2028 accounting for a value of US$ 4.64 Billion currently and is anticipated to reach a market valuation of US$ 8.05 Billion by the end of 2028.
There is a maximum contribution seen by the retail clinics market of 37.4% to the global supply chain management industry revenue. Surging focus on healthcare across the world is expected to propel the demand for retail health clinics over the coming years. According to Future Market Insights’ analysis, the global retail clinics market expects to drop by 123 Basis Point Share (BPS) in H1-2022 as compared to H1- 2021. Whereas in comparison to H1-2022 Projected value, the market during the H1-2022 outlook period will show a dip of 40 BPS.
Key Takeaways:
- Retail clinics are making basic care widely accessible and affordable at the same time due to which the consumer’s inclination towards adoption of retail clinic services is anticipated to rise.
- The accessibility of point-of-care testing and vaccinations is expected to present a positive growth outlook over the forecast period of 2022-2028.
- The key developments in the retail clinics market include the utilization of retail clinics to conduct clinical trials, such as for the COVID-19 vaccine. The market is also subjected to strict regulations and licensing across different geographical regions, as per the industry dynamics and macroeconomic factors.
- There has been a significant shift in trends in the healthcare industry over the past few years which has positively impacted the market for retail clinics. From 2013 to 2021, the market for retail clinics rose at a stellar CAGR of 10.4%US$ 4.18 Bn in 2021.
- Owing to the increased prevalence of multiple diseases, accelerating geriatric population, rising focus on healthcare, growing burden on other conventional healthcare institutions, and accelerating healthcare expenditure and spending along with growing popularity of retail clinics are some major factors that govern the retail clinics market potential.
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Competitive Landscape:
Access Health, AMA, AtlantiCare, Aurora Quick Care, Care Today, CVS, MedDirect, My Healthy Access, Now Medical Centers, PFS, RediClinic, Target Clinic Medical Associates, Walmart, Walgreens Boots Alliance, Wellness Express, Kroger, Target Brands Inc. are some of the key companies profiled in the full version of the report.
Mergers and acquisitions are expected to be a prominent trend as competition in the market increases and retail health clinic providers invest to expand their market presence. Retail clinic providers are focusing on expanding their scope by establishing new and advanced retail care clinics with the latest technologies.
More Insights into Retail Clinics Market
According to FMI analysis, the potential growth of the retail clinics market is predicted in regions including North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA).
The North American region is expected to have a positive outlook over the forecast period till 2028 and is anticipated to account for the maximum market share. The North American region also incorporates the key market players which favor the market potential at a different level.
All over the world, the United States is known for its well-established healthcare infrastructure which makes it a lucrative market for retail clinics throughout the projection period. The popularity of retail clinics in the U.S. is over the roof owing to their cost-effective and convenient approach to healthcare.
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The focus on healthcare in developing countries like India has substantially bolstered over a period of time which has accounted for major demand in retail health clinics in the nation. Due to rising per capita income in India, it is expected to play positively for surging retail clinic demand through 2028.
Growing inclination toward healthcare awareness and staunch government initiatives are expected to be prominent trends in India over the forecast period for the retail clinic industry. Beneficial opportunities are projected in East Asia, South Asia, and the Pacific regions over the forecast. Rising focus on healthcare, increasing healthcare spending, and supportive government initiatives are expected to lead to demand for retail hospitals in these regions.
Key Segments of Retail Clinics Industry Survey
Retail Clinics Market by Application:
- Retail Clinics for Point-of-Care Diagnostics
- Retail Clinics for Clinical Chemistry & Immunoassays
- Retail Clinics for Vaccinations
- Others
Retail Clinics Market by Distribution Channel:
- Retail Clinics in Retail Pharmacy Settings
- Retail Clinics in Drug Stores
- Retail Clinics in Grocery Chains & Big Box Stores
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Retail Clinics Market by Ownership Type:
- Hospital-owned Retail Clinics
- Retail-owned Retail Clinics
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