Retail Clinics Global Market Report 2023
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.
New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Retail Clinics Global Market Report 2023" - https://www.reportlinker.com/p06479850/?utm_source=GNW
, 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.
The global retail clinics market 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 retail clinics market is expected to reach $8.48 billion in 2027 at a CAGR of 11.5%.
The retail clinic market includes revenues earned by entities by offering services like examination, evaluation, preparation of the course of treatment, guidance, and case supervision to individuals.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
A retail clinic is a walk-in health clinic that is situated in retail establishments such as supermarkets, department shops, malls, and grocery stores. These clinics are open to the public without an appointment.
North America was the largest region in the retail clinics market in 2022. The regions covered in the retail clinics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main services of retail clinics are preventive care, immunization, minor illness, injury treatment, and others.Preventive care is the term for actions that may be performed to reduce health risks, such as checking for prospective diseases.
Retail clinics are used to provide preventive health care.The various service models include membership, insurance-based model, and fee-for-service that have ownerships such as standalone, hospital-owned, investor-owned, and others.
They are typically meant for vaccination, point-of-care, clinical chemistry and immunoassay, and other applications that are available at stores, malls, hospitals, and other end users.
The increasing incidence of chronic illnesses is expected to propel the growth of the retail clinic market in the coming future.Chronic illness is a medical condition or illness that often lasts for three months or more and has the potential to get worse over time.
Older people are more likely to have chronic illnesses, which can often be managed but not cured.The increasing number of chronic illnesses expands the retail clinic market as they are most beneficial and have a positive effect on chronic disease management.
For instance, in March 2022, according to the Australian Bureau of Statistics, an Australia-based independent statutory body in charge of data gathering and analysis as well as providing federal, state, and territory governments with recommendations based on facts, nearly three-quarters of Australians (78.6%) had at least one long-term health issue. About half of the population (46.6% or 11.6 million) had at least one chronic illness. Therefore, the increasing incidence of chronic illnesses is driving the retail clinic market.
Technological advancements are the key trend gaining popularity in the retail clinic market.Major companies operating in the retail clinic market are focused on developing innovative technologies to strengthen their position in the market.
For instance, in January 2023, CVS Health, a US-based healthcare company that owns a retail clinic and pharmacy chain, launched CVS Health Virtual Primary Care.CVS Health Virtual Primary Care is a brand-new, innovative, unique virtual care service that offers primary care, on-demand care available around the clock, and planned mental health treatments.
If a patient needs in-person follow-up treatment, he or she can seek it from any in-network healthcare professional. CVS Health Virtual Primary Care is a specialized practice featuring licensed by-the-board clinicians and licensed nurse practitioners who assist in the delivery of primary care services via physician-led care teams.
In January 2022, HCA Healthcare Inc., a US-based company that operates in the healthcare and clinics sector acquired MD Now Urgent Care for an undisclosed amount. Through the acquisition, HCA Healthcare Inc.’s reach is considerably increased to one of the top urgent care providers in the country with more than 170 clinics now operating throughout 19 areas. MD Now Urgent Care is a US-based company that offers primary health care.
The countries covered in the retail clinics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The retail clinics market research report is one of a series of new reports that provides retail clinics market statistics, including retail clinics industry global market size, regional shares, competitors with a retail clinics market share, detailed retail clinics market segments, market trends and opportunities, and any further data you may need to thrive in the retail clinics industry. This retail clinics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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