Pune, India, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The US retail clinics market is set to expand from USD 2.79 billion in 2023 to USD 6.36 billion by 2030, exhibiting a CAGR of 12.5% over the estimated period. The expansion is driven by the soaring focus of industry players on development of telemedicine services in healthcare establishments.
Fortune Business Insights™ provides this information in its research report, titled “U.S. Retail Clinics Market, 2023-2030”.
Key Industry Development:
March 2022 – Geisinger established a new clinical space at Susquehanna Valley Mall. The new facility would offer various services including laboratory, digestive and liver care, culinary medicine, clinical nutrition, radiology, laboratory, vascular surgery, and surgical specialties, and others.
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Key Takeaways:
- The clinics provide preventative healthcare services and are helpful in treatment of minor illnesses.
- U.S. retail clinics market is anticipated to experience growth, primarily due to the provision of timely medical intervention resulting in enhanced patient outcomes.
- The expansion of services offered by clinics in the U.S. is expected to propel the U.S. retail clinics market growth.
- The Segments is anticipated to register significant growth during the forecast period.
List of Key Players Profiled in the Report:
“Companies leading the US Retail Clinics Market are Walmart Inc. (U.S.), CVS Health (U.S.), Walgreens Boots Alliance, Inc. (U.S.), Kroger | The Kroger Co (U.S.), Kaiser Foundation Health Plan, Inc. (U.S.), Target Brands, Inc. (U.S.), Bellin Health Systems (U.S.), Geisinger Health (U.S.)”
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 12.5% |
| 2030 Value Projection | USD 6.36 Billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 2.71 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 115 |
| Segments covered | By Service type, By Ownership, By Channel |
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Segments:
Immunization Segment Led the Market Due to Growing Usage for Vaccinating against Infectious Respiratory Diseases
On the basis of service type, the U.S. market for retail clinics is fragmented into acute respiratory infections, sore throat, conjunctivitis, urinary tract infections, immunization, screening services, and others. The immunization segment held the largest share in the market in 2022. The settings are considered popular for vaccine administration for infectious respiratory diseases including flu.
Retail-owned Operators Segment to Gain Traction Driven by Presence of Retail-owned Operators
By ownership, the U.S. market for retail clinics is categorized into independent operators, hospital-owned retailers, and retail-owned operators. The retailer-owned operators segment accounted for a dominant market share in 2022 and is estimated to grow at a considerable CAGR over the projected period. The rise is impelled by the robust presence of these operators in the country.
Retail Pharmacies Segment Dominated the Market Impelled by Robust Number of Patient Visits
On the basis of channel, the market is classified into groceries/retail stores, retail pharmacies, and others. The retail pharmacies segment held a key position in the market in 2022 and is poised to record appreciable growth over the study period. The expansion is driven by the robust number of patient visits to walk-in settings.
By Service Type
- Acute Respiratory Infections
- Sore Throat
- Conjunctivitis
- Urinary Tract Infections
- Immunization
- Screening Services
- Others
By Ownership
- Retailer-owned Operators
- Independent Operators
- Hospital-owned Operators
By Channel
- Retail Pharmacies
- Groceries/Retail Stores
- Others
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Drivers and Restraints:
Market Value to Rise due to Surging Inclusion of Diverse Healthcare Services
The U.S. retail clinics market growth is being propelled by the escalating inclusion of diverse healthcare services. This is on account of growing awareness associated with the benefits of preventive medical care and the need for enhanced and better medical intervention.
However, retail clinics do not have adequate provision for the treatment of complex diseases. This may hinder industry expansion to some extent.
Competitive Landscape:
Leading Companies Ink Partnership Deals to Increase Geographical Footprint
Major industry players are adopting various strategies for strengthening their positions in the U.S. retail clinics market share. These include partnership agreements, mergers, acquisitions, and the rollout of new products. Several retail clinics are also participating in health conferences to improve their offerings.
FAQs
How big is the retail clinic market in the US?
US Retail Clinics Market size is USD 2.79 billion in 2023 and it is expected to reach USD 6.36 billion in 2030.
How fast is the US retail clinics market growing?
The US Retail Clinics Market will exhibit a CAGR of 12.5% during the forecast period, 2023-2030.
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