Retail Clinics Market

Retail Clinics Market: Cost Transparency & Convenient Accessibility Elevating Acceptance among Consumers: Global Industry Analysis and Opportunity Assessment 2018-2028

2019-03-26
REP-GB-9254
41 Tables
242 Figures
236 pages

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Retail Clinics Market

An Incisive, In-depth Analysis on the Retail Clinics Market

This study offers a comprehensive, 360 degree analysis on the Retail Clinics market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Retail Clinics market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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Consumer response to walk-in clinics or retail clinics has been optimistic, which has led to an upsurge in the number of retail clinics in recent past, witnessing robust growth and outlet scope. According to a survey conducted in the US in 2016,

More than 36% of the retail clinic customer pool was satisfied with the services and other aspects of walk-in clinics.
Approximately 54% of the adult population that first visited a retail clinic highly recommend the services provided by retail clinics.
A negligible percentage among them reported that they were not satisfied with the offerings of retail clinics.

On the other side, according to a recent Walmart Survey, nearly 90% of the customers were satisfied with retail clinics and the high satisfaction level has been attributed to cost transparency, surpassing the conventional benefit of cost efficiency.

According to a recent study, the global market for retail clinics will grow at a strong CAGR of over 10% during 2018-2028 and is likely to continue most prominent expansion in the US owing to positive consumer demand response within a short span of time.

Increasing Number of Retail Clinics and Rising Frequency of Visits for Low-Acuity Medical Conditions

Retail clinics have been considered by insurers and policy makers as an alternative way to reduce healthcare spending. Clinic visits cost way less than physician office or emergency department visits. According to a survey conducted by the RAND organization, approximately 58% of retail clinic visits account for low-acuity conditions that represent new utilization.

The use of retail clinics is associated with a decent increment in healthcare spending. Similar researches and studies around the globe have shown that approximately 40% of retail clinic visits are for minor medical issues, including those involving non hospital-based point-of-care diagnostics. This increase in spending from higher use of services outweighs the savings generated when consumers went to less expensive retail clinics instead of an emergency room or a doctor's office.

In the US, where retail clinics are extremely widespread, the first retail clinics opened in Minnesota in 2000. However, as per the RAND study conducted in November 2011, the number of retail clinics increased by a factor of 12 between 2006 and 2010. Retail clinic visits, majorly for low-acuity conditions, have led to an increase in spending and utilization, further fuelling demand growth of the retail clinics market during the forecast period.

Growth of Retail Clinics in Vaccination Delivery

Retail clinics have shown promising growth in vaccination delivery, majorly in the United States. Vaccinations hold a substantial share of the retail clinics business. The trend of vaccination delivery has observed decent growth in the overall market for retail clinics. However, retail clinics could deliver more vaccinations and increase their overall business if the vaccination histories are reviewed and the patients are counselled on the advantages of vaccination during acute care visits, especially for seasonal influenza vaccines.

Retail clinics are considered to be a promising venue both for promoting and administering vaccinations. As most retail clinics are located in popular locations, such as hypermarkets, supermarkets, grocery stores, the advertising and promotion of vaccinations becomes easy.

Increase in Healthcare Expenditure

Globally, the per capita spending on healthcare has been increasing. People’s desire and ability to spend on wellness have led to an incremental shift in healthcare expenditure, which is expected to boost the growth of medical and healthcare industries, and subsequently, medical treatment in the near future. Within a span of 10 years, the global per capita healthcare spending has almost doubled, owing to the increasing awareness regarding the availability of treatment options in the market.

For instance, healthcare expenditure in percentage with GDP grew from 17.2% to 17.3% from 2016 to 2018 in the US. Europe has been registering a consistent increase in healthcare expenditure in regions such as France, Germany, the Netherlands, Denmark and Switzerland and had a GDP% healthcare expenditure of 11.7%, 11.3%, 12.9%, 10.6% and 11.5% respectively.

Definition

Retail clinics are also termed as walk-in clinics, owing to the convenience they provide to patients. These clinics are located inside retail stores, such as department stores, hypermarkets and supermarkets. Retail clinics come under a broader category termed as convenient care centres. Retail clinics take care of different injuries and illnesses. In addition, majority of medical conditions that are treated at any traditional facility, could also be treated at these retail clinics.

About the Report

FMI conducted a research study on the retail clinics market for the forecast period 2018 to 2028. The report offers a comprehensive evaluation of the business opportunities prevailing in the retail clinics market, along with insights on the retail clinics market value analysis base by region, market trends, pricing analysis based on service type, reimbursement scenario, target population for retail clinics, consumer sentiment analysis, existing models for retail clinics, and costs per patient visit comparison. The retail clinics market report elaborates on the macro-economic factors influencing the dynamics of the market, and its futuristic potential.

Retail Clinics Market: Segmentation

The report on the retail clinics market offers a comprehensive taxonomy of the retail clinics market based on application, distribution channel, ownership type, and region.

The retail clinics market, on the basis of application, has been segmented as point-of-care diagnostics, clinical chemistry and immunoassay, vaccinations, and others.
By distribution channel, the retail clinics market has been segmented into retail pharmacies, drug stores, and grocery chain and big box stores.
By ownership type, the retail clinics market has been segmented into retail-owned retail clinics and hospital-owned retail clinics.

Additional Questions Answered

Some of the additional questions addressed in this report on the retail clinics market are:

What is the revenue potential of the retail clinics market across the regions of North America and Europe?
Who are the key competitors and what are their portfolios in the retail clinics market?
What are the major challenges influencing the growth of the retail clinics market?
How is the intervention of regulatory authorities shaping the growth of the retail clinics market?

A recent market study published by the company “Retail Clinics Market: Global Industry Analysis and Opportunity Assessment 2013-2028” consists of a comprehensive assessment of the most important market dynamics. Upon conducting thorough research on the historic as well as current growth parameters of the retail clinics market, the growth prospects of the market have been obtained with maximum precision.

The report features the unique and salient factors that will have a significant impact on the development of the retail clinics market during the forecast period. The report will also help market players to modify their manufacturing and marketing strategies to envisage maximum growth in the retail clinics market in the upcoming years. The report provides detailed information about the current and future growth prospects of the retail clinics market in a comprehensive manner for the better understanding of the readers.

Chapter 01 – Retail Clinics Market - Executive Summary

The report commences with an executive summary of the retail clinics market report, which includes a summary of the key findings and key statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the retail clinics market and market trends.

Chapter 02 – Retail Clinics Market - Market Introduction

Market introduction comprises detailed market definitions. Readers can find detailed taxonomy and the definitions associated with the retail clinics market in this chapter, which will help them gather the basic information about the retail clinics market.

Chapter 03 – Retail Clinics Market - Key Trends

Market key trends include supply side trends and demand side trends for the retail clinics market.

Chapter 04 – Retail Clinics Market Analysis

This chapter focuses on the several macro-economic factors that are responsible for fluctuations in the growth of the retail clinics market. The opportunity analysis of the various segments of the retail clinics has also been presented in this section.

Chapter 05 – Retail Clinics Market - Key Inclusions

This section provides insights on the installed base of retail clinics on a regional as well as country level. retail clinics market value analysis base by region, market trends, pricing analysis based on service type, reimbursement scenario, target population for retail clinics, consumer sentiment analysis, existing models for retail clinics, and costs per patient visit comparison are also mentioned in this section of the report.

Chapter 06 – Retail Clinics Market - Market Background

This section contains major indices for the retail clinics market. Some of them include the retail clinics market evolution, drivers, and restraints.

Chapter 07 – Global Retail Clinics Market Analysis 2013–2017 And Forecast 2018–2028, By Region

By region, the retail clinics market is segregated into 7 major regions, namely North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa. In this chapter, readers can find information about the key trends and developments in the retail clinics market and the market attractive analysis for individual regions pertaining to the application, distribution channel, and ownership type segments of the retail clinics market.

Chapter 08 – Global Retail Clinics Analysis 2013–2017 And Forecast 2018–2028, By Application

The application segment of the retail clinics market is segmented into point-of-care diagnostics, clinical chemistry and immunoassay, vaccination and others.

Chapter 09 – Global Retail Clinics Analysis 2013–2017 And Forecast 2018–2028, By Distribution Channel

This section includes global market analysis based on distribution channel, the market is segmented into retail pharmacy settings, drug stores, and grocery chain and big box stores.

Chapter 10 – Global Retail Clinics Analysis 2013–2017 And Forecast 2018–2028, By Ownership Type

This section includes global market analysis based on ownership type, the market is segmented into retail-owned and hospital-owned retail clinics.

Chapter 11 – Global Retail Clinics Market Analysis 2013-2017 And Forecast 2018–2028

This section focuses on the global market value analysis by segment. It also provides the absolute $ opportunity for the global retail clinics market.

Chapter 12 – North America Retail Clinics Market Analysis 2013–2017 And Forecast 2018–2028

This chapter includes a detailed analysis of the growth of the North America retail clinics market, along with the country-wise assessment for the U.S. and Canada. Readers can also find information about the regional market growth based on the applications, distribution channel, ownership type, and countries in the North America region.

Chapter 13 – Latin America retail clinics Market Analysis 2013–2017 and Forecast 2018–2028

Readers can find detailed information about factors, such as the key regulations and regional trends that are impacting the growth of the Latin America market. This chapter also discusses the growth prospects for the retail clinics market in the leading LATAM countries such as Brazil, Mexico and the rest of the Latin America region.

Chapter 14 – Europe retail clinics Market Analysis 2013–2017 and Forecast 2018–2028

The growth prospects of the retail clinics market are based on application, distribution channels, and ownership type in several European countries, such as the Germany, France, UK, Italy, Russia, Spain, BENELUX, and the rest of Europe, have been included in this chapter. Country-wise market size and market attractiveness index has also been included in this section.

Chapter 15 – South Asia Retail Clinics Market Analysis 2013–2017 And Forecast 2018–2028

The section includes data for India and rest of South Asia region. Readers can find thorough information about the growth parameters in the South Asia retail clinics market for the period 2013–2028. Country-wise market size and market attractiveness index has also been included in this section.

Chapter 16 – East Asia Retail Clinics Market Analysis 2013–2017 And Forecast 2018–2028

Japan and China are the leading countries in the East Asia region, which are the prime subjects of assessment to obtain the growth prospects of the East Asia retail clinics market in this chapter. The section also includes data for South Korea. Readers can find thorough information about the growth parameters in the East Asia retail clinics market for the period 2013–2028. Country-wise market size and market attractiveness index has also been included in this section.

Chapter 17 – Oceania Retail Clinics Market Analysis 2013–2017 And Forecast 2018–2028

The section includes data for Australia and New Zealand. Readers can find thorough information about the growth parameters in the Oceania retail clinics market for the period 2013–2028. Country-wise market size and market attractiveness index has also been included in this section.

Chapter 18 – Middle East and Africa Retail Clinics Market Analysis 2013–2017 And Forecast 2018–2028

This chapter provides information about how the market will grow in the major countries of MEA region, such as GCC countries, Northern Africa, South Africa, and the rest of Middle East and Africa, during the period 2013–2028. Country-wise market size and market attractiveness index has also been included in this section.

Chapter 19 – Forecast Factors – Relevance and Impact

This chapter provides several forecast factors considered in the retail clinics market report. Impact of these forecast factors on the retail clinics market is also mentioned in this section.

Chapter 20 – Forecast Assumptions

This section covers all the major forecast assumptions taken into consideration for market analysis of retail clinics.

Chapter 21 – Assumptions and Acronyms

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in this report.

Chapter 22 – Research Methodology

This chapter will help readers understand the research methodology followed to obtain various conclusions and important qualitative & quantitative information about the retail clinics market.