Retail Clinics Global Market Report 2024

The retail clinics market has grown rapidly in recent years. It will grow from $5.49 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%.The expansion observed during the historical period can be ascribed to several factors, including heightened crop productivity, improved pest and disease management, growing environmental awareness, enhanced seed quality, regulatory backing, and an increased uptake of genetically modified (GM) crops.

The retail clinics market is expected to see rapid growth in the next few years. It will grow to $9.59 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The anticipated growth in the forecast period can be credited to the adoption of precision agriculture, the expansion of the seed market, a heightened emphasis on crop resilience, regulatory backing for sustainable practices, and a growing awareness of precision seed treatment. Significant trends expected during the forecast period include advancements in seed coating technologies, the integration of digital technologies in agriculture, the development of crop protection seed treatments, the application of seed treatment for trait enhancement, and the increasing prominence of biological seed treatments.

The growth of the retail clinic market is anticipated to be propelled by the escalating incidence of chronic illnesses in the foreseeable future. Chronic illnesses, enduring for three months or more with potential exacerbation over time, are predominantly prevalent among the elderly. These conditions, while manageable, often lack definitive cures. As of March 2022, the Australian Bureau of Statistics reported that nearly 78.6% of Australians had at least one long-term health issue, with 46.6% of the population experiencing at least one chronic illness. The expanding prevalence of chronic diseases is a significant factor contributing to the growth of the retail clinic market.

Anticipated growth in the retail clinic market is strongly influenced by the escalating costs associated with healthcare. Healthcare costs encompass the overall expenses incurred for medical services, treatments, and products aimed at maintaining or improving an individual's health. The increasing expenses associated with traditional healthcare services have prompted individuals to seek more cost-effective alternatives, leading to heightened demand for retail clinics with transparent and affordable pricing structures. For instance, in October 2021, healthcare costs per employee in the USA rose to $13,000 in 2022, reflecting an increase from the $12,792 recorded in 2021. The surge in healthcare costs is a significant driver of the expansion of the retail clinic market.

A key trend gaining prominence in the retail clinic market is technological advancements. Major market players are strategically focusing on developing innovative technologies to solidify their market positions. In January 2023, CVS Health, a US-based healthcare company, introduced CVS Health Virtual Primary Care, an innovative virtual care service offering on-demand primary care and planned mental health treatments. This technology-driven approach, featuring licensed clinicians and nurse practitioners, showcases the commitment of industry leaders to leverage technological innovations for competitive advantage.

The retail clinic market is witnessing heightened competitiveness, with major companies concentrating on technological innovations such as virtual care clinics. Amazon Inc., in August 2023, announced the launch of the Amazon Clinic a virtual healthcare delivery platform connecting users with healthcare providers for various ailments. Users can select their health concern, choose a healthcare provider, and respond to a short questionnaire, showcasing the seamless integration of technology in healthcare services. This strategic move reflects the industry's drive to stay at the forefront through the implementation of advanced virtual care solutions.

In January 2022, HCA Healthcare Inc., a prominent US-based company operating in the healthcare sector, successfully acquired MD Now Urgent Care for an undisclosed amount. This strategic acquisition significantly expands HCA Healthcare Inc.'s footprint, positioning it as one of the top urgent care providers in the country, with over 170 clinics operating across 19 areas. MD Now Urgent Care, a US-based healthcare company specializing in primary healthcare, adds substantial value to HCA Healthcare Inc.'s portfolio, showcasing strategic moves aimed at market consolidation and growth.

Major companies operating in the retail clinics market report are The Kroger Co., CVS Health Corporation, Rite Aid Corp., Walmart Inc., Walgreen Co., NextCare, Bellin Health Systems, Aurora Health Care, Sutter Health, Kaiser Foundation Health Plan Inc., Lindora LLC, Geisinger Health, Centennial Medical Group, Access Health, Amazon.com Inc., AtlantiCare, MyHealthAccess, RediClinic LLC, Wellness Express LLC, MedExpress Urgent Care, Concentra Inc., Shopko Stores Operating Co. LLC, Doctors Care, ClearBalance HealthCare, The Little Clinic, FastMed Urgent Care, CityMD, U.S. HealthWorks Inc., Fastcare, Carespot.

North America was the largest region in the retail clinics market in 2023. The regions covered in the retail clinics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the retail clinics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These clinics primarily offer services related to preventive care, immunization, and treatment for minor illnesses and injuries, among others. Preventive care encompasses activities aimed at reducing health risks, including screening for potential diseases. Retail clinics play a key role in delivering preventive healthcare services. The various service models employed by these clinics include membership, insurance-based, and fee-for-service structures, with ownership structures ranging from standalone entities to hospital-owned and investor-owned setups. Typically designed for services such as vaccination, point-of-care diagnostics, clinical chemistry, immunoassay, and other applications, retail clinics cater to a diverse range of end users, including stores, malls, hospitals, and other healthcare facilities.

The retail clinics market research report provides retail clinics market statistics, including retail clinics industry global market size, regional shares, competitors with a retail clinics market share, detailed retail clinics market segments, market trends and opportunities, and any further data you may need to thrive in the retail clinics industry. This retail clinics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The retail clinic market includes revenues earned by entities by offering services such as examination, evaluation, preparation of the course of treatment, guidance, and case supervision to individuals. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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