Retail Clinics Market Forecasts to 2030 – Global Analysis By Ownership (Standalone, Hospital-owned, Investor-owned and Other Ownerships), Location (Retail Stores, Shopping Malls, Departmental Stores and Other Locations), Application and By Geography

Retail Clinics Market Forecasts to 2030 – Global Analysis By Ownership (Standalone, Hospital-owned, Investor-owned and Other Ownerships), Location (Retail Stores, Shopping Malls, Departmental Stores and Other Locations), Application and By Geography

According to Stratistics MRC, the Global Retail Clinics Market is accounted for $3.06 billion in 2023 and is expected to reach $3.42 billion by 2030 growing at a CAGR of 10.67% during the forecast period. Retail clinics are healthcare facilities located within retail outlets, such as pharmacies, supermarkets, or big-box stores, that offer basic medical services and treatments. These clinics are designed to provide convenient and accessible healthcare services for common, non-emergency medical issues. Retail clinics are often staffed by nurse practitioners or physician assistants. They are suitable only for minor health issue and are not equipped to handle complex or serious medical conditions.

According to the Healthcare Information and Management Systems Society, currently, 2,000 retail clinics are operating in the U.S. alone.

Market Dynamics:

Driver:

Increasing consumer demand for convenient healthcare

Retail clinics are typically located in easily accessible retail settings, such as pharmacies and supermarkets. This proximity makes healthcare services more convenient for consumers, allowing them to seek medical attention without having to schedule appointments or travel long distances. They also provide extended operating hours, walk-in appointments, quick turnaround timeand routine care services. Additionally, retail clinics can address the needs of individuals seeking immediate care for minor health issues or routine check-ups which boosts up their growth.

Restraint:

Limited scope of services

Retail clinics typically focus on providing basic and routine healthcare services, such as vaccinations, minor illness treatments, and preventive care. They don’t have the capacity or expertise to address complex health issues, chronic diseases, or emergencies. This limitation can discourage individuals with more serious health concerns from choosing retail clinics as their primary care provider. It also affects the ability of retail clinics to attract and retain patients.

Opportunity:

Growing collaborations with primary care providers

Collaboration with primary care providers facilitates better continuity of care for patients. Retail clinics can share patient records, ensuring that the care provided in the retail setting aligns with the overall healthcare plan. By working with primary care providers, retail clinics can offer a broader range of services, including preventive care, chronic disease management, and follow-up care, thereby attracting a larger patient population. It also creates a symbiotic relationship that benefits both parties and, most importantly, improves patient care and accessibility to healthcare services.

Threat:

Quality of care concerns

Disparate care is caused by retail clinics operating apart from a patient's primary care physician. A thorough grasp of a patient's medical history and the management of chronic illnesses may be hampered by this lack of coordination. Patients who receive care in a retail clinic might not know exactly where to turn for follow-up or ongoing management, especially if they have more complicated medical conditions. The expansion of the industry is further hampered by elements including inadequate diagnostic capabilities, improper referrals, a restricted service offering, and follow-up difficulties in case management.

Covid-19 Impact

The covid-19 is like a kick-starter for the retail clinics market. The shorter waiting times, easier access, and lower costs for patients resulted in higher demand for the service. Retail clinics have been involved in administering covidvaccines. They have also collaborated with public health initiatives, participating in testing and vaccination efforts.Retail clinics have seen an increased focus on chronic disease management and preventive care during the pandemic. Further, economic uncertainties and operational challenges during the pandemic affected the financial stability of some retail clinics.

The standalone segment is expected to be the largest during the forecast period

Thestandalone segment is estimated to have a lucrative growth, due to their cost effectiveness, convenience and accessibility. Standalone retail clinics operate with extended hours, providing flexibility to patients. They contribute to community health by providing accessible healthcare services. Also, patients have the freedom to choose when and where to receive basic healthcare services, fostering a sense of control over their health management. They often engage in public health initiatives and occupational health services.

The point of care diagnostics segment is expected to have the highest CAGR during the forecast period

The point of care diagnostics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the presence of better healthcare infrastructure, increasing cases of infectious diseases, a growing geriatric population base and availability of high-quality diagnostic tests. POCD allows for the quick diagnosis of various medical conditions, enabling healthcare providers to initiate timely and appropriate treatments. Its improved patient outcomes, enhanced efficiency, and increased access to diagnostics, making them a valuable tool in various healthcare settings.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing population, increased efforts to reduce the burden on hospitals, and increasing emphasis on outpatient care.Various healthcare providers and retail chains have been expanding their presence in the Asia Pacific retail clinics market. Additionally, rising government encouragements in providing basic healthcare services, especially in underserved areas are accelerating the retail clinics demand.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the growing emphasis on preventive care aiming at the reduction of direct and indirect hospitalization costs associated with the treatment of diseases, reduction in waiting time, and active government support. Retail clinics in Europe are often associated with well-known pharmacy and retail chains. Also, the integration of digital health technologies is a notable trend in the European healthcare landscape. Further, the preferences of younger, tech-savvy populations, as well as individuals seeking on-the-go healthcare solutions, contribute to the market dynamics.

Key players in the market

Some of the key players profiled in the Retail Clinics Market includeDoctors Care, Pristyn Care, CVS Healthcare, AtlantiCare, Aurora Quick Care, Care Today, Now Medical Centers, MedDirect, My Healthy Access, Walgreens Boots Alliance, The Kroger Co., RediClinic, Wellness Express, Target Brands Inc., NextCare Holdings, Concentra Inc, AstraZeneca, Rite Aid Corporation, Walmart and Bellin Health Systems.

Key Developments:

In November 2023, AstraZeneca launched Evinova, set to be a leading provider of digital health solutions to better meet the needs of healthcare professionals, regulators and patients. It will provide established technology solutions to pharma, biotech and CROs to support clinical research globally.

In May2022, Healthcare provider Pristyn Care has launched a new initiative called ‘CARES’ program. Under this, the platform has listed its five guiding principles under ‘CARES’ program, reiterating its commitment to a patient-first approach with a primary focus on patient safety.

In April 2022, Walmart opened the first of five new doctor-staffed “Walmart Health” centers in Florida to expand low-cost healthcare services to tens of thousands of its customers.

Ownerships Covered:
• Standalone
• Hospital-owned
• Investor-owned

Locations Covered:
• Retail Stores
• Shopping Malls
• Departmental Stores
• Other Locations

Applications Covered:
• Vaccination
• Clinical Chemistry & Immunoassay
• Point Of Care Diagnostics
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements