Global Retail Clinics Market Analysis

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  • Type: Service area
  • Published : January 2022
  • Region: Worldwide
  • Country: Other
  • Report ID : 5022

  • Format: PPT, PDF

Global Retail Clinics Market: Segmented by Location, Ownership Type, Application, and Geography – Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

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Report Description of the Global Retail Clinics Market

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on  strong current and forecast data for Global Retail Clinics Market
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Global Retail Clinics Market
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Global Retail Clinics Market Executive Summary

The retail clinics market in the North America region is largely held by countries such as the United States, Canada, and Mexico. The retail clinic 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.

Market Size and Key Findings

The Global Retail Clinics Market size stood at around USD 3.4 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 10.2% during the forecast period.

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 2020 – 2028, to account for US$ 8,108.98 Mn by 2028. Retail Clinics market is one of the high – growth prospect industries with potential opportunities throughout 2028. The Retail Clinics Market growth analysis and insights report analyzes emerging market trends, market size outlook, potential opportunities, market share by Retail Clinics types, applications. Further, Retail Clinics market size is forecast by country and the study analyzes the key companies operating in the global Retail Clinics industry.

Market Dynamics

Market Growth Drivers Analysis.

  • 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.

  • 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 clinic market is anticipated to grow in the coming years.

Market Restraints

From shifting supply chains to cost savings, automation, and customer focus, the industry is set to witness disruptive trends. Companies understanding these market trends and aligning their operations to these trends will gain significant market shares. The report provides emerging market trends, key driving forces, challenges facing companies and Retail Clinics markets.

COVID-19 impact on “Global Retail Clinics Market” 

The year 2020 was dominated by the COVID – 19 pandemic as nearly two million people are infected by Coronavirus. On one hand, diagnostics, PPE equipment, critical medical supplies gained unprecedented demand while medical procedures declined by around 50% to 60% based on the market.

The report presents the impact of the pandemic and recovery scenarios for Retail Clinics over the forecast period to 2028. As companies realign their resources to operate under the limitations imposed by the pandemic, the report presents three scenarios of market recovery – Low Growth, Reference Case, and High Growth scenarios. The cases consider supply chain disruptions, consumer confidence, economic impact, and overall industry recovery factors.

Competitive Landscape

Key Players

The Retail Clinics market research analyzes the strategies of leading Retail Clinics companies in the near to long term future. The top ten players in the industry are analyzed and the report profiles five leading companies. Details on business description, SWOT profile, key operations, strategies, and financial analysis are profiled for each of these five leading companies.

Products in Pipeline

Organic and inorganic growth strategies were observed in the global retail clinic 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.

Notable Recent Deals

  • For instance, Walgreens announced a strategic partnership with LabCrop. Based on the terms of agreement, specimen collection sites of LabCrop will be opened inside Walgreens retail stores. Further, improved accessibility of healthcare for the geriatric population is also likely to support the growth of the global retail clinics market.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

The approval of the Joint Commission’s Gold Seal for Retail Health Care is expected to encourage growth of the retail clinics market. For instance, The Little Clinic, a subsidiary of The Kroger Co., received the Joint Commission’s Gold Seal of Approval for Retail Health Care, for the quality of care provided by the company. Moreover, partnerships and acquisitions by leading companies are also predicted to aid global retail clinics market growth during the forecast period.

The benefits of retail clinics such as less waiting time, easy accessibility, and comparatively lower costs are likely to fuel demand among patients, which will, in, turn boost the global retail clinics market growth. According to the Healthcare Information and Management Systems Society, currently, 2,000 retail clinics are operating in the U.S. alone.

1. Report Description of the Global Retail Clinics Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Global Retail Clinics Market Executive Summary
2.1 Global Retail Clinics Market – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of Global Retail Clinics Market
3.1 Market Growth Drivers Analysis
3.1.1 Significant Advantage of Retail Clinics
3.1.2 Benefits Associated with Retails Clinics
3.2 Market Restraints Analysis
3.2.1 High Costs Due To Over-Utilization
3.3 Covid-19 Market Impact Analysis
4. Retail Clinics Market Segmentation
4.1 By Location:
4.1.1 Store
4.1.2 Mall
4.1.3 Others
4.2 By Ownership Type:
4.2.1 Retail Owned
4.2.2 Hospital Owned
4.3 By Application:
4.3.1 Clinical Chemistry & Immunoassay
4.3.2 Point of Care Diagnostics
4.3.3 Vaccination
4.3.4 Other Applications
4.4 By Geography:
4.4.1 North America
4.4.2 Europe
4.4.3 Asia Pacific
4.4.4 Middle East & Africa
4.4.5 South America
5. Retail Clinic Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives in Retail Clinic Market
6.4 Notable recent deals in Clinics Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 The Kroger Company overview
Product & Services, Strategies & Financials
7.2 CVS Health Company overview
Product & Services, Strategies & Financials
7.3 Rite Aid Corp Company overview
Product & Services, Strategies & Financials
7.4 Walmart Inc. Company overview
Product & Services, Strategies & Financials
7.5 Walgreens Company overview
Product & Services, Strategies & Financials
7.6 Nextcare Holdings, Inc. Company overview
Product & Services, Strategies & Financials
7.7 MedExpress Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Retail Clinic market
9.2 Future Opportunities
10. Strategic Recommendations

Global Retail Clinics Market Segmentation

By Location:

  • Store
  • Mall
  • Others

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.

By Ownership Type:

  • Retail Owned
  • Hospital Owned

By Application:

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

By Geography:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Geographically, the global retail clinics market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America is expected to dominate the global retail clinics market during the forecast period owing to the rising number of retail clinics. Increasing preference for retail clinics mainly due to its convenience and cost-effectiveness along with improved insurance coverage for retail clinics are factors aiding the growth in North America.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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