US Retail Clinics Market Size [2022-2029] worth USD 4.22 Billion | exhibiting a CAGR of 10.8%
Fortune Business Insights
5 min read
Fortune Business Insights
According to Fortune Business Insights, the global US Retail Clinics Market size is projected to reach USD 4.22 Billion in 2029, at CAGR of 10.8% during forecast period; Trend for Telemedicine to Usher in Innovations: Fortune Business Insights™
Pune, India, July 04, 2022 (GLOBE NEWSWIRE) -- The US Retail Clinics Market Size stood at USD 3.49 billion in 2021. The market could surge from USD 2.05 billion in 2022 to USD 4.22 billion by 2029 at 10.8% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report titled, “U.S. Retail Clinics Market, 2022-2029.”
According to the analysis, a notable rise in the patient population visiting clinics has triggered the need for retail clinics. Prominently, the expansion of healthcare services across the region will encourage leading companies to invest in the portfolio. The trend for basic and preventive medical care will also remain instrumental in treating medical conditions before it becomes severe or chronic.
Key Industry Development
March 2021 - Geisinger announced the opening of a new clinical space at the Susquehanna Valley Mall.
Stakeholders Emphasis on Expansion Initiatives to Foster Industry Growth
With leading companies investing in expansion initiatives, the U.S. retail clinics market growth will be pronounced during the forecast period. To illustrate, in June 2019, CVS Health announced adding 1,500 HealthHUBs by the end of 2021. Meanwhile, in September 2020, Walmart was reported to have announced expanding its in-store health clinics with new establishments in Chicago, Florida, and Georgia. Growing healthcare services will encourage major players to boost their penetration across the U.S. Prominently, traction for telemedicine services could propel the footprint of retail clinics with improved medical care support. However, the reduced presence of advanced medical equipment and lack of expertise to treat chronic conditions could dent the industry growth.
Report Coverage
The U.S. Retail Clinics Market report offers a comprehensive perspective of the market size, share, revenue, and volume. It has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing business scenarios. The report also includes secondary resources such as annual reports, press releases, white papers, and journals.
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Sore Throat Segment to Gain Prominence from Rising Number of Patient Visits
With respect to service type, the market is segregated into immunization, sore throat, acute respiratory infections, conjunctivitis, screening services, urinary tract infections, and others. The sore throat segment will account for a considerable share of the U.S. market due to the increasing number of patient visits and low treatment costs. Besides, the ease of obtaining quick medical intervention will also boost the segment growth.
Segmentation
By Service Type
Acute Respiratory Infections
Sore Throat
Conjunctivitis
Urinary Tract Infections
Immunization
Screening Services
Others
By Ownership
Retailer-owned Operators
Independent Operators
Hospital-owned Operators
By Channel
Retail Pharmacies
Groceries/Retail Stores
Others
Competitive Landscape
Leading Companies Invest in Product Portfolio Expansion to Bolster Footprint
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, significant companies could invest in innovations and product offerings in the ensuing period
Retail Pharmacies to be Sought Due to Availability of Telemedicine
On the basis of channel, the market is classified into groceries/retail stores, retail pharmacies, and others. The retail pharmacies segment will boost the U.S. retail clinics market share in the wake of the availability of telemedicine and the high number of patient visits to walk-in health facilities.
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