U.S. Retail Clinics Market to Grow at a CAGR of 12.6% During the Forecast Period; Increase in Initiatives by Companies to Offer Telemedicine Services in Retail Clinics to Boost Market Expansion

The U.S. retail clinics market size stood at USD 2.59 billion in 2023. The market is predicted to rise from USD 2.85 billion in 2024 to USD 7.38 billion by 2032, recording a CAGR of 12.6% from 2024 to 2032.

Fortune Business Insights™ presents this information in its report titled, “U.S. Retail Clinics Market Size, Share & Industry Analysis, By Service Type (Acute Respiratory Infections, Sore Throat, Conjunctivitis, Urinary Tract Infections, Immunization, Screening Services, and Others), By Ownership (Retailer-owned Operators, Independent Operators, and Hospital-owned Operators), By Channel (Retail Pharmacies, Groceries/Retail Stores, and Others), and Country Forecast, 2024-2032”.  

Retail clinics offer preventative health care services and treat several minor illnesses. There is a need to address several concerns of individuals. These clinics are highly preferred due to better patient satisfaction at an affordable cost. The increasing need for effective medical care leads to better patient outcomes. This also improved the accessibility of healthcare services to a wider population.

Telemedicine provides many benefits, including time-saving consultations due to decreased travel time, enhanced accessibility, fixing the gap between rural areas and healthcare institutions, and increased patient comfort. An increase in initiatives by companies to offer telemedicine services in retail clinics is driving market expansion.

The COVID-19 pandemic positively impacted market growth. Increased demand for convenient access to healthcare services for the COVID-19 testing due to lockdowns propelled market growth amid the pandemic. Increased preference for these health centers across retail stores boosted key players, including Walgreens, CVS, and Walmart, to expand their market presence.

Amazon Aims to Inaugurate the First Clinic in Dallas, Texas, Near Its Fulfilment Center

In July 2022, Amazon declared a strategy to shift toward a retail clinic business by introducing walk-in clinics near fulfilment centers. The company would complete this initiative under its Neighborhood Health Center Pilot Program. Further, Amazon aims to inaugurate the first clinic in Dallas, Texas, near its fulfilment center.

Increase in Diversified Healthcare Service Offerings to Bolster Market Growth

Growing awareness about preventive medical care has accelerated the need for better and improved medical intervention across the country. Several individuals are choosing preventive and primary medical care for the treatment of their medical conditions before they become more serious or chronic. Many companies in the U.S. are currently concentrating on diversifying their service portfolio. In addition to physical health, many companies are providing retail clinic operations that are highly concentrated on offering services related to mental health as awareness regarding the benefits of well-functioning behavioral health is significantly increasing among more individuals.

In May 2021, CVS Health declared the introduction of added mental health counseling and care services at 11 of the company’s MinuteClinic across South Jersey and Philadelphia due to the increased demand for such services since the beginning of the COVID-19 pandemic. Hence, an increase in service offerings by institutions in the U.S. is fostering the U.S. retail clinics market growth.

On the other hand, the shortage of advanced medical equipment to treat complex diseases in retail clinics may reduce their service adoption rates. Additionally, the lack of resources and expertise to treat severe chronic conditions and decreased patient visits are hindering market growth.

Leading Companies Focus on Service Offerings to Maintain Their Dominance

Walgreens Boots Alliance, Inc., CVS Health, and Kroger | The Kroger Co. are the leading companies in the market.  CVS Health dominates the market in the U.S. due to a variety of services in the portfolio of the company’s clinics and the number of locations operated in the U.S. The company has an extensive services portfolio for women’s health, diagnostics, and common illnesses. CVS Health owns 1,000 MinuteClinics, and its market dominance is attributed to its adoption and extension of new trends.

Notable Industry Development

• March 2023: Walmart Inc. declared its plan to inaugurate 28 new Walmart health centers in 2024. This effort will increase Walmart Health’s footprint into two new states, Arizona and Missouri and also extend its presence in Texas.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/u-s-retail-clinics-market-106419

List of the Companies Profiled in the Report:

• Walmart Inc. (U.S.)
• CVS Health (U.S.)
• Walgreens Boots Alliance, Inc. (U.S.)
• Kroger | The Kroger Co (U.S.)
• Kaiser Foundation Health Plan, Inc. (U.S.)
• Target Brands, Inc. (U.S.)
• Bellin Health Systems (U.S.)
• Geisinger Health (U.S.)

Further Report Findings-

• Based on service type, the acute respiratory infections segment dominated the market with the highest U.S. retail clinics market share due to demand for high-quality care offered in retail clinics for diagnosing and treating these infections.
• On the ownership, the retailer-owned operators segment commanded the U.S. market. The strong existence of retail clinics managed by retailer-owned operators is boosting segment expansion.
• By channel, the retail pharmacies dominated the market. The rapid expansion of services offered by retail pharmacies due to telemedicine is driving the segment's growth.

Table of Segmentation