The U.S. retail clinics market size is expected to reach USD 7.3 billion by 2025, growing at CAGR of 20.3%, according to a new report by Grand View Research, Inc. Convenient access and affordable prices are expected to boost growth of the U.S. retail clinics market.
These settings act as an alternate channel for provision of primary care and offer basic healthcare services at affordable prices, lowering the need to visit the Emergency Department. Around 10% of the visits to the emergency departments in the U.S. could be treated outside of the ED. This reduces the out-of-pocket costs paid for the visit to an ED.
These settings usually operate during all seven days of a week. In addition, they have shorter waiting duration and appointments are not mandatory. Convenience and flexibility of visit hours help people easily access clinics that are located in grocery stores, shopping malls, and other locations.
In addition, adoption of information technology, highlighted by the use of EHRs helps these settings maintain a streamlined patient record that can be shared across different healthcare systems. This patient data could also be used to implement population health management strategies, for better patient outcomes, which could ease the U.S. healthcare’s transformation into a value-based care model from a fee-for-service (FFS) model.
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U.S. Retail Clinics Market Report Highlights
• Retail clinics employ a business model that involves provision of healthcare services at affordable prices for treatment and other supplementary services.
• These settings have gained prominence in the U.S. with a lucrative growth rate. There is a steady rise in their number & visits per year. They are also expected to curb the issue of rising cost of healthcare services and extend the primary care continuum by providing affordable care
• These settings in the U.S. mostly operate in large metropolitan areas in the Southern and Midwestern parts of the region
• Some of the major players in the market comprise CVS Health (MinuteClinic), Walgreens (Healthcare Clinic), Walmart (The Clinic at Walmart, Care Clinic), Bellin Health (FastCare), Rediclinic (Rite Aid), Kroger (The Little Clinic), Aurora Health Care (QuickCare Clinic)
• CVS Health (MinuteClinic) is one of the largest and fastest-growing retail clinics. In 2016, CVS acquired Target, and integrated & rebranded the clinics inside Target stores. As of January 2017, MinuteClinic was present across 1,105 locations.
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U.S. Retail Clinics Market Segmentation
Grand View Research has segmented the U.S. retail clinics market on the basis of ownership type:
Ownership Type Outlook (Revenue, USD Million, 2014 – 2025)
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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