Retail Clinics Market size is expected to reach USD 8 Billion by the end of 2033, growing at a CAGR of 14% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of retail clinics was around USD 4 Billion. the growth of the market is primarily ascribed to the increasing role of retail clinics by providing convenience in treating minor illness, preventive health screenings, and a good alternative for expensive emergency care for minor health conditions. For instance, up to 21% of visits to emergency rooms for non-emergencies are estimated to be preventable if they were made at retail clinics or urgent care centers, that result in yearly cost savings of up to USD 4 billion.
Since the start of pandemic to the post pandemic period, the burden on other conventional healthcare institutions has increased a lot. In such scenario, the role of retail clinics has emerged as a boon and more advantageous to deal with those health issues which are easy to diagnose and treat. According to the World Health Organization (WHO), In Africa region, there are only about two medical doctors for every 10,000 people, while there are only ten nurses and midwives for every 10,000 people. Furthermore, nearly 18 million more healthcare workers are required in low and lower-middle income nations.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~14% |
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Base Year Market Size (2022) |
~ USD 4 Billion |
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Forecast Year Market Size (2033) |
~ USD 8 Billion |
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Regional Scope |
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Application (Clinical Chemistry & Immunoassay, Point-of-Care Diagnostics, Vaccinations)
The global retail clinics market is segmented and analyzed for demand and supply by application into clinical chemistry & immunoassay, point-of-care diagnostics, vaccinations, and others. Out of these, the point-of-care diagnostics segment is estimated to garner the largest market size over the forecast period owing to the worldwide growing prevalence of various lifestyle disorders such as obesity, diabetes, hypertension, and other disorders. For instance, as per research, the total number of diabetes patients is estimated to upsurge to 641 million by 2030 and 786 million by 2045.
Our in-depth analysis of the global market includes the following segments:
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By Location |
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By Ownership |
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By Application |
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The North America retail clinics market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the existence of key retail clinic providers, growing geriatric population, increasing prevalence of sinusitis infections, and sufficient insurance coverage provided by these retail clinics in the region. According to the Centers for Disease Control and Prevention, till 2022, the number of adults diagnosed with sinusitis in the United States have risen to 28.9 million.
CVS Health Corporation is ready to acquire Signify Health for USD 30.50 per share in cash, denoting a total transaction value of nearly USD 8 billion.
Walmart Inc. expands across North and Central Florida with the opening of its five new health centers, with a variety of health services including primary care, labs, X-ray and EKG, behavioral health and counseling, dental, optical, and hearing services.
Author Credits: Radhika Gupta, Shivam Bhutani
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