Product ID: SQMIG45F2088
U.S. Retail Clinics Market Size, Share, Growth Analysis, By Service(Acute Respiratory Infections, Sore Throat), By Ownership(Retailer-owned Operators, Independent Operators & Hospital-owned Operators), By Channel(Retail Pharmacies, Groceries/Retail Stores) - Industry Forecast 2024-2031
Report ID:
SQMIG45F2088 |
Region:
Global |
Published Date: April, 2024
Pages:
242
|
Tables:
93 |
Figures:
76
U.S. Retail Clinics Market Insights
U.S. Retail Clinics Market size was valued at USD 3.49 billion in 2019 and is poised to grow from USD 2.05 billion in 2023 to USD 4.22 billion by 2031, growing at a CAGR of 10.8% in the forecast period (2024-2031).
A retail clinic is a specific kind of walk-in healthcare facility found in grocery shops, pharmacies, and retail stores. These clinics offer services for preventative healthcare as well as the treatment of minor ailments. There were many worries about the quality of care provided in these healthcare facilities when these clinics were initially created in the U.S. in 2019. These worries were quickly disproved, however, when it was established that the care received in American retail clinics was of higher quality. Additionally, prompt medical intervention with better patient outcomes is made available to more patients at a lesser cost, which is anticipated to drive market expansion over the course of the projection period. Additionally, during the past 20 years, a steadily growing patient population has been going to clinics for a variety of medical needs. This has increased the need for these facilities, which can deliver high-quality medical treatment and improve patient outcomes. As a result, a wider range of the population now has easier access to healthcare. For instance, Geisinger Health declared plans to build a new ConvenientCare+ facility on its South Wilkes-Barre site in May 2021. These retail clinics now have access to additional resources including lab and imaging services.
These clinics have become more and more popular due to the epidemic, which has prompted large firms like CVS, Walgreens, and Walmart to increase their market share. During the projection period for the U.S. retail clinics market, it is anticipated that the industry will continue to expand significantly due to increasing public awareness of the advantages offered by these institutions (located in handy places, providing affordable care) during the pandemic.
Additionally, the pandemic's expanding initiatives to limit patient visits to hospitals raised the need for retail clinics in 2019. For instance, virtually accessible office visits made it easier for patients to get vaccines and testing through on-site clinics. Consequently, the aforementioned elements greatly aided market expansion in 2019, thereby reflecting a positive COVID-19 impact on the U.S. industry.
US Retail Clinics Market is poised to grow at a sustainable CAGR for the next forecast year.
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U.S. Retail Clinics Market Segmental Analysis
U.S. Retail Clinics Market is segmented by service, ownership, channel and region. Based on the service, the U.S. retail clinics market is segmented into acute respiratory infections, sore throat, conjunctivitis, urinary tract infections, immunization, screening services, and others. Based on the ownership, the U.S. retail clinics market is segmented retailer-owned operators, independent operators & hospital-owned operators. Based on the channel, the U.S. Retail Clinics Market is divided into retail pharmacies, groceries/retail stores, and others. Based on region, U.S. Retail Clinics Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
U.S. Retail Clinics Market Analysis by Service
Acute respiratory infections, sore throats, conjunctivitis, urinary tract infections, immunisation, screening services, and others are among the service types that make up the U.S. retail clinics market segments. The immunisation category, which accounted for the highest share in 2021, is expected to rise significantly throughout the projection period. These facilities are a well-liked location for acquiring vaccination for contagious respiratory disorders like the flu.
For instance, CVS Health reports that it delivered approximately 20 million non-COVID-19 immunizations in 2020, which is more than twice as many as it administered influenza vaccinations in 2019. The sore throat market category accounted for a sizeable portion of the market in 2021 and is anticipated to grow at a modest CAGR during the forecasted period.
The significant volume of patient visits to these facilities, the simplicity of accessing immediate medical assistance, and the comparably cheaper cost of care all contribute to the market. For example, a study conducted by Xtelligent Healthcare Media, LLC in August 2018 found that approximately 30% of all clinic visits were for sore throat or acute sinusitis symptoms. During the projected period, the dependence of patients on these facilities for minor ailments is anticipated to boost to the segment's growth.
U.S. Retail Clinics Market Analysis by Ownership
In terms of ownership, the retailer-owned operators segment accounted for a sizeable portion of the U.S. retail clinics market in 2021 and is predicted to increase profitably throughout the projected period. The U.S. has a significant number of these institutions run by retailer-owned operators, and this, together with a robust market expansion drive, is likely to support the segment's expansion. Additionally, in 2019 an estimated 48% of retail clinic visits in the US were made by merchants like CVS. Because there aren't as many of these institutions controlled by hospitals, the hospital-owned operators’ category is anticipated to have a lower share in the U.S. retail clinics market.
However, recent changes, such as the outsourcing of these institutions' operations to hospital-based operators by retail chains like Walgreens, are anticipated to contribute to the segment's growth in the future.
U.S. Retail Clinics Market Analysis by Channel
According to channel, the retail pharmacies sector dominated the U.S. retail clinics market in 2021. The high volume of patient visits to walk-in health facilities located inside the retail pharmacies of businesses like CVS Health and Walgreens Boots Alliance, Inc. is responsible for the segment's dominance. In the future, it is also anticipated that the expansion of services provided by walk-in clinics, such as telemedicine, would help to the growth of this market.
During the projected period, the grocery/retail shops section is anticipated to be the second-dominant segment in the U.S. retail clinics market. The operation of a sizable number of these clinics by chains like Walmart Care Clinic and Kroger's The Little Clinic in important U.S. states like Ohio, Kentucky, and Texas is anticipated to aid in the segment's expansion.
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U.S. Retail Clinics Market Regional Insights
US retail clinics market is estimated to have a positive outlook over the forecast period and to hold a sizeable market share by 2028. Growth can be ascribed to the region's increasing number of retail care clinics as well as the presence of major retail clinic providers like CVS Healthcare and Walgreens. The U.S. is predicted to drive the demand for retail health clinics in this area.
During the projected period, the grocery/retail shops section is anticipated to be the second-dominant segment. The operation of a sizable number of these clinics by chains like Walmart Care Clinic and Kroger's The Little Clinic in important U.S. states like Ohio, Kentucky, and Texas is anticipated to aid in the segment's expansion.
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U.S. Retail Clinics Market Dynamics
U.S. Retail Clinics Market Driver
- Growing Healthcare Spending Will Increase Demand for Retail Health Clinics
Due to the sharp rise in chronic disease cases, attention has been given to healthcare. The need for improving healthcare infrastructure is crucial, particularly in emerging nations where per capita disposable income is rising.
- Increasing the Delivery of Vaccines in Retail Care Clinics
Retail clinics are essential in vaccination delivery programmes all over the world, and this is anticipated to increase the market potential for those clinics within the anticipated time frame. Retail medical clinics are in high-traffic areas, making them an appealing setting to administer immunizations in an efficient and timely manner.
- Key Companies' Expansion Initiatives to Open New Facilities in the U.S. to Fuel Market Growth
Over the course of the projected period, it is anticipated that rising initiatives would result in the opening of new walk-in healthcare facilities.
Greater accessibility to the patient population, which results in a higher number of patients visiting these settings, is one benefit of these expansion activities.
Additionally, because many institutions are centred in the Midwestern and Southern U.S., these expansion plans may provide access to the underprivileged areas of the country.
For instance, CVS Health declared intentions to launch 1,500 HealthHUBs by the end of 2021 in June 2019. The company is on schedule to establish new HealthHUBs, with 850 of them expected to be completed by the middle of 2021.
Furthermore, Walmart announced the expansion of its in-store health clinics with new locations to be opened in Chicago, Georgia, and Florida, according to a Fierce Healthcare story from September 2020.
U.S. Retail Clinics Market Restraint
- Lack of Treatment Options for Complex Diseases Could Limit Market Growth.
Despite the urgent and growing demand for these clinics, one of the major barriers to U.S. retail clinics market is the absence of treatment options for complex disorders. The lack of advanced medical technology in these clinics to treat complex disorders may lower service acceptance rates despite rising demand for chronic disease care in the U.S. The market expansion is anticipated to be hampered by a lack of resources, such as medical equipment and experience, to treat severe chronic illnesses, as this results in fewer patient visits.
Additionally, there are predictions that a lot of senior people would visit these facilities more frequently for medical care as the U.S. observes trends of an ageing population. Even straightforward disease diagnoses, such urinary tract infections (UTIs), call for more thorough testing in older individuals. Therefore, such complicated medical operations are not appropriate for these facilities. The lengthy wait times that patients encounter for routine checks in these institutions are another factor that inhibits the market expansion.
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U.S. Retail Clinics Market Competitive Landscape
The US market has a consolidated competitive environment. Walgreens, Kroger, and CVS are the major companies operating in the United States. In the US, CVS has a monopoly on U.S. retail clinics market. The number of sites the company operates in the U.S. and the variety of services the company's clinics offer are what give it market supremacy. Its services portfolio for diagnostics, women's health, and common ailments is extensive. With more than 1,000 retail clinics, CVS has a strong position in the market thanks to its growth and adaptation of new trends. Another significant player in the sector is Walgreens. The organisation offers a wide range of services across the United States and has solid relationships with insurance providers. Additionally, Kroger is seen as a significant participant, in part because of its extensive network of grocery and retail stores across many locations in the U.S.
U.S. Retail Clinics Market Top Player's Company Profiles
- CVS Health
- Walgreens Boots Alliance
- Walmart Inc.
- Kroger Health
- Rite Aid Corporation
- Target Corporation
- The Little Clinic (Kroger subsidiary)
- RediClinic (Rite Aid subsidiary)
- Urgent Care Centers of America
- NextCare Holdings Inc.
- FastMed Urgent Care
- American Family Care
- Concentra Inc.
- CareSpot Express Healthcare
- MedExpress Urgent Care
- CityMD
- MinuteClinic (CVS subsidiary)
- WellNow Urgent Care
- GoHealth Urgent Care
- NEXtCARE Health Ventures Inc.
U.S. Retail Clinics Market Recent Developments
- In May 2022, CVS Health launched the virtual primary care service. It is a brand-new virtual care option accessible via a solitary digital platform. The offering links the services, clinical knowledge, and data of CVSHealth to create a more streamlined and patient-focused healthcare experience.
- In March 2022, Walmart Inc. announced its Florida expansion in March 2022, opening five additional WalmartHealth locations in North and Central Florida. The public would have easier access to Walmart Health as a result of this expansion.
- In May 2021, The Mayo Clinic and Kaiser Permanente established a partnership to develop new hospital-at-home care capabilities. Kaiser Permanente is a subsidiary of Kaiser Foundation Health Plan, Inc. Through this partnership, Medically Home Group, which offers a technological platform to handle clinical diseases at home, received an investment of USD 100.0 million.
- In July 2021, Amazon said that it is establishing walk-in clinics close to fulfilment hubs as part of its transition to a retail clinics business. This project will be carried out as part of the Neighborhood Health Center Pilot Program. The business declared its intention to launch the first clinic close to its fulfilment centre in Dallas, Texas.
- In April 2021, CVS Health announced that it started the feature of video visits in its MinuteClinics inside CVS Pharmacy for patients in the state of Montana.
U.S. Retail Clinics Key Market Trends
- Increased Focus on Telemedicine Services Development to Expand the Market
An greater focus on creating telemedicine services in these settings in the United States over the past couple of years has been one of the most important trends observed in the business.
The Centers for Disease Control and Prevention (CDC) said in research released in October 2020 that telehealth visits increased by 50.0 percent during the first quarter of 2020 compared to the same period in 2019.
- Telemedicine fosters significant service uptake due to its affordability in medical care. As a result, industry participants are concentrating on providing telemedicine services in these institutions. For instance, in July 2021, CVS Health declared that its MinuteClinic clinic network's telehealth services were now accessible in the U.S. state of Nevada. The corporation reported a 600 percent increase in telehealth consultations in its Q1 2020 quarterly filings.
U.S. Retail Clinics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our U.S. Retail Clinics Market Analysis, growing healthcare spending, increasing the delivery of vaccines in retail care clinics, key companies' expansion initiatives to open new facilities in the U.S. are some major factors driving the growth of the U.S. Retail Clinics market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.49 billion |
| Market size value in 2031 | USD 4.22 billion |
| Growth Rate | 10.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on U.S. Retail Clinics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on U.S. Retail Clinics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the U.S. Retail Clinics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Retail Clinics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Retail Clinics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the U.S. Retail Clinics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
U.S. Retail Clinics Market Report Snapshots
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