Insight into Retail Clinics: Transforming Access to Care By 2022 to 2028

 

The emergence and rising popularity of retail clinics have significantly altered the healthcare scene in recent years. Retail clinics market are compact medical establishments that are easily housed inside of retail establishments like pharmacies, supermarkets, or stores. These medical facilities offer preventive screenings, mild disease treatment, and basic medical services like immunisations. The demand for healthcare has been transformed by the market for retail clinics, which has grown dramatically.

The convenience and accessibility of retail clinics is one of the main factors contributing to their rising popularity. These clinics provide a hassle-free alternative to conventional healthcare settings with expanded hours of operation, walk-in appointments, and short wait periods. They are especially appealing to people who are busy or don't have a regular primary care physician because they cater to people who need quick care for minor illnesses without prior appointments.

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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.

The retail clinics market sees a maximum contribution of 37.4% to the global supply chain management industry revenue. The surging focus on healthcare across the world is expected to propel the demand for retail clinics over the coming years. According to Future Market Insights’ analysis, the global retail clinics market is expected to drop by 123 Basis Points Share (BPS) in H1-2022 as compared to H1-2021. Compared to the H1-2022 Projected value, the market during the H1-2022 outlook period will show a dip of 40 BPS.

“Retail clinics convenient healthcare centers, often located within retail stores, provide accessible and affordable primary care services, making healthcare more readily available to consumers and contributing to the evolving healthcare landscape.” Lead Analyst, Future Market Insights, Inc.

Key Takeaways:

  • Retail clinics are making basic care widely accessible and affordable at the same time, so the consumer’s inclination towards adopting 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 using 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, per industry dynamics and macroeconomic factors.
  • There has been a significant shift in trends in the healthcare industry over the past few years, positively impacting the retail clinic market. From 2013 to 2021, the market for retail clinics rose at a stellar CAGR of 10.4% and US$ 4.18 Billion in 2021.
  • 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 the growing popularity of retail clinics, are some major factors that govern the retail clinics’ market potential.

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.

Mergers and acquisitions are expected to be a prominent trend as competition in the market increases and retail health clinic providers invest in expanding their market presence. Retail clinic providers are focusing on expanding their scope by establishing new and advanced retail care clinics with the latest technologies.

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 and big Box Stores

Retail Clinics Market by Ownership Type:

  • Hospital-owned Retail Clinics
  • Retail-owned Retail Clinics

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