Pune, India, March 08, 2022 (GLOBE NEWSWIRE) -- The U.S. retail clinics market size was USD 1.78 billion in 2020. The market is projected to grow from USD 3.49 billion in 2021 to USD 4.40 billion in 2028 at a CAGR of 3.4% during the 2021-2028 period. This information is provided by Fortune Business Insights, in its report, titled, “U.S. Retail Clinics Market, 2021-2028.”
According to our researchers, the market's development can be credited to a variety of factors, including low prices, ease of use and accessibility, and the potential to increase healthcare services while keeping costs low. Furthermore, greater healthcare accessibility for the geriatric population is expected to assist the U.S. retail clinics market growth.
Industry Development:
May 2020 - Kaiser Foundation Health Plan, Inc. announced to extend its strategic agreement with Target Corporation to open 30 new Kaiser Permanente staffed clinics in Target stores across Southern California. The clinic will be branded as “Target Clinic, care provided by Kaiser Permanente”.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 3.4% |
| 2028 Value Projection | USD 4.40 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 1.78 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 123 |
| Segments covered | By Service, Ownership and Location |
| Growth Drivers | Increased Inclusion of Diverse Healthcare Services to Augment Market Growth |
| Expansion Initiatives by Key Companies to Open New Establishments in the U.S. to Lead to Market Growth | |
| Lack of Provision for Treatment of Complex Diseases Might Restrict Market Growth |
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Expansion Initiatives by Prominent Players to Foster Market Growth
One of the primary drivers for the market in the U.S. is expansion initiative in the form of new retail clinic opening, which is expected to contribute significantly to the market growth during the projected period. Better access to the patient population, which leads to a higher volume of patient visits to these settings is one of the benefits of these expansion initiatives. For example, in September 2020, Walmart announced the expansion of its in-store health clinics, with new clinics to be opened in Chicago, Georgia, and Florida.
Report Coverage:
The report includes detailed information on developing trends, market drivers, development opportunities, and market restraints that may affect the industry's conditions. It consists information on new product developments, market innovation, and industry development. The report further offers an estimated U.S. retail clinics market share, size, as well as growth rate.
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COVID-19 Impacts:
During the pandemic, retail clinics provided patients with convenient access to healthcare treatments. Patient visits have increased dramatically in 2020 as walk-in clinics in the U.S. were offering COVID-19 testing and immunizations. Attributed to the convenience, quality, and low costs provided by walk-in clinics, patients will continue to use them for their fundamental healthcare requirements. Virtual visit from a patient with COVID-19-like symptoms or the flu may be accompanied by a visit to a clinic for COVID-19 test or vaccine, and by a virtual check-in with the primary care physician to discuss future steps.
Service Type, Ownership, and Location are Studied
By service type, the market is segmented into acute respiratory infections, sore throat, conjunctivitis, urinary tract infections, immunization, screening services, and others.
Based on ownership, the market is fragmented into retailer-owned operators, independent operators, and hospital-owned operators.
In terms of location, the market is separated into retail pharmacies, groceries/retail stores, and others.
Regional Insights:
The market in the U.S. is expected to increase at a high rate during the projected period. The presence of a high number of retail clinics functioning in the U.S. accounts for a large portion of the country. Furthermore, individual operators' increased efforts to expand their service offerings is another key factor driving the industry growth in the U.S. For instance, in July 2020, Amazon revealed plans to open retail health clinics near fulfilment hubs. The plan's first phase comprises the development of 20 similar clinics in five cities across the U.S.
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Strategic Innovations by Major Players to Strengthen its Market Position
Most of the market players aim to supply healthcare institutes as part of their partnership strategies. Companies are also adopting strategies such as mergers, acquisitions, and new product launches to strengthen their market position.
List of Key Players Mentioned in the Report:
- Walmart Inc. (Bentonville, U.S.)
- CVS Health (Woonsocket, U.S.)
- Walgreens Boots Alliance, Inc. (Deerfield, U.S.)
- Kroger | The Kroger Co (Cincinnati, U.S.)
- Kaiser Foundation Health Plan, Inc. (Oakland, U.S.)
- Target Brands, Inc. (Minneapolis, U.S.)
- Bellin Health Systems (Green Bay, U.S.)
- Rite Aid Corporation (Houston, U.S.)
- Geisinger Health (Danville, U.S.)
- Other Prominent Players
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