Retail Clinics Market Size, Statistics Report 2027

Retail Clinics Market to 2027 - Global Analysis and Forecasts by Location (Stores, Malls and Other Locations); Ownership Type (Retail Owned and Hospital Owned); Application (Clinical Chemistry & Immunoassay, Point of Care Diagnostics, Vaccination, and Other Applications), and Geography

Publication Month : Nov 2019

  • Report Code : TIPRE00007527
  • Category : Healthcare IT
  • Status : Published
  • No. of Pages : 141
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The retail clinics market accounted for US$ 3,408.96 Mn in 2018 and is expected to grow at a CAGR of 10.2% during the forecast period 2019 – 2027, to account for US$ 8,108.98 Mn by 2027.

The retail clinics market in the North America region is largely held by countries such as the United States, Canada, and Mexico. The retail clinics market across the region is estimated to grow significantly due to rapidly increasing numbers of retail clinics. The growth of the market is also attributed to the lower cost of retail services as compared to an emergency department. In addition, the market is projected to grow due to factors such as affordable prices, ease, convenience & accessibility, and the ability to expand healthcare services.

Lucrative Regional Retail Clinics Markets

Regional Retail Clinics Markets
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Market Insights

Significant Advantage of Retail Clinics

Retail clinics, also known as urgent care clinics, are the alternative treatment sites that deliver care from a qualified provider in settings outside of the emergency department or traditional office. The retail clinics generally are standalone type and do not have the observation beds. Apart from care quality, convenience is the primary factor that helps in contributing to taking patient treatment decisions. These clinics are located in easy-to-get-to locations such as the malls, shopping plazas, stores, and provide non-fatal emergency care to the patients. These types of clinics are the ideal to solve acute health issues that are simple to diagnose and treat, such as sinus infections, strep throat, urinary tract infections, flu shots, bronchitis ear infections, ringworm, immunizations among others. Also, few retail clinics provide preventive health screenings, such as diabetes, cholesterol, blood pressure, and skin cancer analysis.

Moreover, the most significant advantage of retail clinics is that these clinics offer services based on the walk-in without an appointment to get medical treatment. These clinics open on evenings and weekends that is a very convenient way for the working people. It is also an ideal choice for travelers as they can walk into any retail health clinic in any state and be treated. Other factors, such as a shortage of doctors in primary care, will help to expand the clinic’s locations to fill the care gap. Owing to the factors mentioned above, the market for retail clinics is expected to grow significantly in the forecast period.

Benefits Associated with Retails Clinics

Increasing the growth of retail clinics represents a trend towards newer healthcare models that affects the existing models of health care, such as clinical laboratories, hospitals, and pathology groups. The retail clinics are designed for immediate treatment of symptoms and vaccinations but do not provide an in-depth examination or long-term healthcare relationship between patient and physician. The lower costs, easy accessibility, and flexibility combined with low-wait times for primary care helps to upsurge the market for retail clinics. The developing healthcare model involves the traditional healthcare facilities that address the impact of retail clinics on conventional practices, regulatory standards, and patient care. However, as the retail clinics are focusing on expanding their provided services, they also concentrate on providing certain types of medical laboratory tests. Somewhat, competing with emergency departments, the retail clinics directly compete with primary care clinics or full-service. Owing to the above-mentioned factors, the retail clinics market is anticipated to grow in the coming years.

Product Type Insights

The global retail clinics market by location type segments was led by the store. In 2018, the store accounted for the largest market share in the global retail clinics market. Growth in the store market is expected due to the rapidly growing number of retail clinics. However, the store segment is estimated to mark the highest CAGR in the market during the forecast period, Owing to factors such as the rising popularity of these stores for delivering immediate health services with quality of care.

The Middle East & Africa Retail Clinics Market, by Location

Middle East & Africa Retail Clinics Market, by Location
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Retail Clinics Market: Strategic Insights

retail-clinics-market
Market Size Value inUS$ 3,408.96 Million in 2018
Market Size Value byUS$ 8,108.98 Million by 2027
Growth rateCAGR of 10.2% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Organic and inorganic growth strategies were observed in the global retail clinics market. Whereas, organic growth strategies were carried out largely in the retail clinics market. For instance, in November 2019, Walgreens has launched a new billing solution to allow Medicare patients who use the Dexcom G6 Continuous Glucose Monitoring (CGM) System to fill their prescription at any of its more than 9,200 U.S. retail pharmacy locations.

Retail Clinics – MARKET SEGMENTATION

Global Retail Clinics Market – By Location

  • Store
  • Mall
  • Others

Global Retail Clinics Market – By Ownership Type

  • Retail Owned
  • Hospital Owned

Global Retail Clinics Market – By Application

  • Clinical Chemistry & Immunoassay
  • Point of Care Diagnostics
  • Vaccination
  • Other Applications

By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • UK
    • Spain
    • Italy
    • Netherlands
  • Asia Pacific (APAC)

    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • South Africa
    • UAE
  • South America (SAM)

    • Brazil
    • Argentina

Company Profiles

  • The Kroger Co.
  • CVS Health
  • Rite Aid Corp
  • Walmart Inc.
  • Walgreens co.
  • Nextcare Holdings, Inc.
  • MedExpress
  • Doctors care
  • Bellin Health Systems
  • Concentra, Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Location ; Ownership Type ; Application , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies - Retail Clinics Market

  1. The Kroger Co.
  2. CVS Health
  3. Rite Aid Corp
  4. Walmart Inc.
  5. Walgreens co.
  6. Nextcare Holdings, Inc.
  7. MedExpress
  8. Doctors care
  9. Bellin Health Systems
  10. Concentra, Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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