Retail Clinics Market Research Report Of 2019 to 2027 Including All Details Of Industry Developments By :- The Kroger Co., CVS Health, Rite Aid Corp, Walmart Inc., Walgreens co., Nextcare Holdings
The global 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.
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Company Profiles Including In Retail Clinics Market are:- The Kroger Co., CVS Health, Rite Aid Corp, Walmart Inc., Walgreens co., Nextcare Holdings, Inc., MedExpress, Doctors care, Bellin Health Systems, Concentra, Inc.,
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.
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 clinic market is anticipated to grow in the coming years.
Product Type Insights-
The global retail clinic 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.
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