Retail Clinics Market Forecast 2023-2027 By The Business Research Company
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s retail clinics market report forecasts the retail clinics market size to grow to $8.48 by 2027, with a CAGR (compound annual growth rate) of more than 11%.
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Retail Clinics Market Size Forecast
The global retail clinics market size is expected to grow from $4.92 billion in 2022 to $5.49 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global retail clinics market size is expected to reach $8.48 billion in 2027 at a CAGR of 11.5%.
North America held the largest retail clinics market share in 2022.
Key Retail Clinics Market Driver – Increase In The Incidence Of Chronic Illnesses
According to the Australian Bureau of Statistics, an Australia-based independent statutory body in charge of data collection and analysis as well as providing federal, state, and territory governments with fact-based recommendations, nearly three-quarters of Australians (78.6%) had at least one long-term health issue in March 2022. Approximately half of the population (46.6% or 11.6 million) suffered from at least one chronic condition. As a result, the rising prevalence of chronic illnesses is propelling the retail clinic market.
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Key Retail Clinics Market Trend – Technological Advancements
To boost their market position, major retail clinic companies are focusing on developing novel technologies. CVS Health, a US-based healthcare corporation that runs a retail clinic and drugstore chain, for example, introduced CVS Health Virtual Primary Care in January 2023. CVS Health Virtual Primary Care is a brand-new, creative, and one-of-a-kind virtual care service that provides primary care, on-demand care available 24 hours a day, seven days a week, and planned mental health treatments. If a patient need in-person follow-up care, he or she can contact any in-network healthcare expert. CVS Health Virtual Primary Care is a specialised practise that employs board-certified clinicians and licenced nurse practitioners to help in the delivery of primary care services through physician-led care teams.
Retail Clinics Market Segment
1) By Service Type: Preventive Care, Immunization, Minor Illness, Injury Treatment, Other Service Types
2) By Service Model: Membership, Insurance-Based Model, Fee-For-Service
3) By Ownership: Standalone, Hospital-Owned, Investor-Owned, Other Ownerships
4) By Application: Vaccination, Point-Of-Care, Clinical Chemistry And Immunoassay, Other Applications
5) By End Use: Stores, Malls, Hospitals, Other End Uses
Retail Clinics Market Major Players and Strategies
Major players in the retail clinics market are The Kroger Co., CVS Health, Rite Aid Corp., Walmart Inc., Walgreen Co., NextCare, Bellin Health Systems, Aurora Health Care, Sutter Health, Kaiser Foundation Health Plan Inc., Lindora LLC, Geisinger Health, Centennial Medical Group, Access Health, Amazon.com Inc., AtlantiCare, MyHealthAccess, RediClinic, Wellness Express LLC, Target Brands Inc., MedExpress, and Concentra Inc.
HCA Healthcare Inc., a US-based healthcare and clinics corporation, acquired MD Now Urgent Care for an unknown sum in January 2022. HCA Healthcare Inc.’s reach has been significantly expanded as a result of the acquisition, and it is now one of the top urgent care providers in the country, with more than 170 clinics operating throughout 19 states. MD Now Urgent Care is a primary health care provider established in the United States.
The Retail Clinics Global Market Report 2023 covers regional data on retail clinics market size, retail clinics market trends and drivers, opportunities, strategies, and retail clinics market competitor analysis. The countries covered in the retail clinics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
A retail clinic is a walk-in health clinic located in a retail enterprise such as a supermarket, department store, shopping mall, or grocery store. These clinics are accessible to the public and do not require an appointment.
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