New York, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners new research study titled "Retail Clinics Market Size, Share, Trends, Growth Strategy and Forecast to 2027 – COVID-19 Impact and Global Analysis – by Location, Ownership Type, Application, and Geography," the retail clinics market is expected to grow from USD 3.4 billion in 2018 and is projected to reach USD 8.1 billion by 2027; it is estimated to grow at a CAGR of 10.2% from 2019 to 2027.
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Global Retail Clinics Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 3.4 billion in 2018 |
| Market Size Value by | USD 8.1 billion by 2027 |
| Growth rate | CAGR of 10.2% from 2019 to 2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
| No. of Pages | 141 |
| Historical data available | Yes |
| Segments covered | Location, Ownership Type, Application, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Retail Clinics Market: Competitive Landscape and Key Developments
The prominent players in the retail clinics market focus on various growth strategies to enroot their presence and garner significant market share across the globe. Some of the notable players in the global retail clinics market include The Kroger Co., CVS Health, Rite Aid Corp, Walmart Inc., Walgreens co., Nextcare Holdings, Inc., MedExpress, Doctors care, Bellin Health Systems and Concentra, Inc.
The major market players within recent years have been observed to invest a substantial amount towards the development of new products, acquiring of other players and expansion. This implies a vivid picture of the strategies adopted by the market players to retain their positions and generate increased growth revenue in the retail clinics market. Global leaders in the market have majorly chosen product launches as one of the critical strategies to improve its product lines to offer customer-centric benefit to its end-users and enhance its geographic diversification.
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A few of the recent developments in the global retail clinics market are mentioned below:
- In October 2019, Walmart commenced its first Walmart Health Center in Dallas, Georgia. It was working with healthcare professionals from the previous year to design a one-stop shop for affordable healthcare services.
- In November 2019, Walgreens launched a new billing solution to enable Medicare patients who use the Dexcom G6 Continuous Glucose Monitoring (CGM) System to fill their prescriptions at any of its 9,200retail pharmacy locations across the US. Walgreens is the largest retail pharmacy chain providing distribution for Dexcom CGM nationwide.
- In October 2019, CVS Health announced MinuteClinic offering video visits in Pennsylvania. People with minor injuries, minor illnesses, and skin conditions can seek medical care through MinuteClinic Video Visits 24x7 through computer or mobile devices.
- In September 2020, Walmart Health announced its plan to open 22 new retail clinic locations across Florida, Arkansas, and Georgia by the end of 2021, adding to its 13 existing clinics. The clinics provide various healthcare services including psychiatric care, imaging, on-site lab testing, dental and vision services, and access to health and wellness programs.
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Significant Advantages of Retail Clinics
The retail clinics, also known as urgent care clinics, are the alternative treatment sites that deliver healthcare from a qualified provider in the settings outside the emergency department or traditional office. These clinics are generally standalone type with no observation beds. Apart from quality care, convenience is the primary factor that help determine the treatment. These clinics are located in easily accessible places, including malls, shopping plazas, and stores, as well as provide non-fatal emergency care to patients. They are ideal to treat acute health issues such as sinus infections, strep throat, urinary tract infections, flu shots, bronchitis, ear infections, ringworm, and immunizations, which are simple to diagnose. Also, a few retail clinics provide preventive health screenings for diabetes, cholesterol, blood pressure, and skin cancer analysis.
The most significant advantage of retail clinics is offering treatment without any appointment. The clinics working in the evenings and on the weekends become convenient for the working people. They are also an ideal choice for travelers as they can walk into any retail health clinic in any state and access treatment. Due to these factors, the global retail clinics market is growing significantly.
Retail clinics are a category of the walk-in clinic located in retail stores, supermarkets, and pharmacies that treat uncomplicated minor illnesses and provide preventive health care services. The extended hours of work make the clinic a comfortable option for the patients working during the daytime. Besides, the majority of ailments that can be treated at a traditional facility can also be treated at a retail clinic.
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The retail clinics market is segmented on the basis of location, ownership type, and application. The market based on location type segment is classified as store, mall, and other locations. On the basis of ownership type the market is segmented as retail owned and hospital owned. Based on the application the market is classified as clinical chemistry & immunoassay, point of care diagnostics, vaccination, and other applications.
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