Published: Aug. 12, 2021 at 2:01 a.m. ET
Aug 12, 2021 (Heraldkeepers) — According to The Insight Partners market research study titled ‘Retail Clinics Market to 2027 – Global Analysis and Forecasts by location, ownership type, application and Geography. The global retail clinics market is expected to reach US$ 8,108.98 Mn in 2027 from US$ 3,408.96 Mn in 2018. The market is estimated to grow with a CAGR of 10.2% from 2019-2027. The report highlights trend prevalent in the global retail clinics market and the factors driving the market along with those that act as challenges to its growth.
The global retail clinics market is segmented on the basis of location, ownership type and application. The market based on location segment is classified as stores, malls, and others. On the basis of ownership type, the market is segmented into retail owned and hospital-owned. Based on the application the market is classified as clinical chemistry & immunoassay, point of care diagnostics, vaccination and others.
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The major players operating in the retail clinics market include The Kroger Co., CVS Health, Rite Aid Corp, Walmart Inc., Walgreens co., Nextcare Holdings, Inc., MedExpress, Doctors care, Bellin Health Systems and Concentra, Inc. The market has carried out various organic and inorganic growth strategies in the market. The organic strategies were conducted majorly and the strategies have assisted in strengthening their product offering and position in the global retail clinics market.
The market for retail clinics is expected to grow significantly due to factors such as a significant advantage of retail clinics and benefits associated with retails clinics. Also, the growing healthcare expenditure is likely to have a positive impact on the growth of the market in the coming years.
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.
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.
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The report segments the global retail clinics market as follows:
Global Retail Clinics Market – By Location
- Other Location
Global Retail Clinics Market – By Ownership Type
- Retail Owned
- Hospital Owned
Global Retail Clinics Market – By Application
- Clinical Chemistry & Immunoassay
- Point of Care Diagnostics
Global Retail Clinics Market – By Geography
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- South & Central America
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