Global Retail Clinics Market – Overview
Retail clinics are the ones that provide primary healthcare services across departmental stores, supermarkets, and retail stores. These clinics have a registration desk, a waiting area, washroom, a couple of examination rooms, and a small desk for reception. These retail clinics are gaining immense popularity as they are highly beneficial for public health, easily accessible, and also help in reducing the pressure on public healthcare services.
Global Retail Clinics Market – Notable Developments
The competitive landscape of the global retail clinics market is a fragmented one. The companies are looking to invest heavily in research and development in order to more efficiently serve their patients. Some of the key companies in the global retail clinics market are Bellin Health Systems, Walgreen Co., CVS Health, NextCare, Rite Aid Corp, RediClinic, and Kaiser Foundation Health Plan Inc. among others.
Some of the notable developments in the global retail clinics market are:
- In June 2017, Walegreens announced that the company has partnered up with LabCrop. With the strategic partnership, LabCrop’s specimen collection sites will be available in Walegreen’s retail stores.
- In February 2019, Norton Healthcare Inc. announced that the company has opened 8 new retail clinics in Walegreens stores in Louisville and Southern Indiana.
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Global Retail Clinics Market – Drivers and Restraints
One of the biggest driving factors for the development of the global retail clinics market is their cost efficiency. Another important driving factor is the innovation in providing preventive and acute care to patients. With the growing prevalence of illness and diseases such as sore throat, infections, flu, cold, cough, fever, and allergies, there is a rising demand for retail clinics. This too has helped in driving the growth of the global market in recent years. In addition to this, these clinics are also preferred for offering superior care and relief to overcrowded emergency centers and hospitals in the present healthcare scenarios.
Another important driving factor for the growth of the global retail clinics market is their huge set of advantage. There is less waiting time, higher ease of accessibility, and relatively lesser costs. Such benefits are also adding to their increasing popularity and thus driving the overall growth.
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Global Retail Clinics Market – Geographical Outlook
The global retail clinics market features a vast geographical landscape with five major regional segments. These regions are North America, Latin America, Asia Pacific, Middle East and Africa, and Europe. Among these, the regional segment of North America has been the most dominant segment in recent years. The regional market is expected to continue to dominate the global market in the coming years of the forecast period ranging from 2019 to 2027. The growth the regional segment is because of the growing preference for retail clinics as they provide highly efficient and cost effective services. Moreover, their insurance coverage is also improving in recent times.
The retail clinics market in Europe is expected to witness a positive growth in coming years of the forecast period. This growth of the European market is due to the increasing emphasis on preventive care with an objective of reducing indirect as well as direct hospitalization expenses associated with treatment of several diseases. Cutting down of waiting time and highly active support from governments are some of the other key factors that are helping to drive the retail clinics market in Europe.
On the other hand, the regional segment of Asia Pacific is projected to have a highly promising rate of growth in the coming years of the forecast period. Growing population and improving efforts to cut down the pressure on hospitals, and growing focus on outpatient care are some of the key factors for the development of Asia Pacific market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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