Global Retail Clinics Market - Overview
Retail clinics are the ones that provide primary healthcare services across departmental stores, supermarkets, and retail stores. These clinics have a registration desk, a waiting area, washroom, a couple of examination rooms, and a small desk for reception. These retail clinics are gaining immense popularity as they are highly beneficial for public health, easily accessible, and also help in reducing the pressure on public healthcare services.
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Global Retail Clinics Market - Notable Developments
The competitive landscape of the global retail clinics market is a fragmented one. The companies are looking to invest heavily in research and development in order to more efficiently serve their patients. Some of the key companies in the global retail clinics market are Bellin Health Systems, Walgreen Co., CVS Health, NextCare, Rite Aid Corp, RediClinic, and Kaiser Foundation Health Plan Inc. among others.
Some of the notable developments in the global retail clinics market are:
- In June 2017, Walegreens announced that the company has partnered up with LabCrop. With the strategic partnership, LabCrop’s specimen collection sites will be available in Walegreen’s retail stores.
- In February 2019, Norton Healthcare Inc. announced that the company has opened 8 new retail clinics in Walegreens stores in Louisville and Southern Indiana.
Global Retail Clinics Market – Drivers and Restraints
One of the biggest driving factors for the development of the global retail clinics market is their cost efficiency. Another important driving factor is the innovation in providing preventive and acute care to patients. With the growing prevalence of illness and diseases such as sore throat, infections, flu, cold, cough, fever, and allergies, there is a rising demand for retail clinics. This too has helped in driving the growth of the global market in recent years. In addition to this, these clinics are also preferred for offering superior care and relief to overcrowded emergency centers and hospitals in the present healthcare scenarios.
Another important driving factor for the growth of the global retail clinics market is their huge set of advantage. There is less waiting time, higher ease of accessibility, and relatively lesser costs. Such benefits are also adding to their increasing popularity and thus driving the overall growth.
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Global Retail Clinics Market – Geographical Outlook
The global retail clinics market features a vast geographical landscape with five major regional segments. These regions are North America, Latin America, Asia Pacific, Middle East and Africa, and Europe. Among these, the regional segment of North America has been the most dominant segment in recent years. The regional market is expected to continue to dominate the global market in the coming years of the forecast period ranging from 2019 to 2027. The growth the regional segment is because of the growing preference for retail clinics as they provide highly efficient and cost effective services. Moreover, their insurance coverage is also improving in recent times.
The retail clinics market in Europe is expected to witness a positive growth in coming years of the forecast period. This growth of the European market is due to the increasing emphasis on preventive care with an objective of reducing indirect as well as direct hospitalization expenses associated with treatment of several diseases. Cutting down of waiting time and highly active support from governments are some of the other key factors that are helping to drive the retail clinics market in Europe.
On the other hand, the regional segment of Asia Pacific is projected to have a highly promising rate of growth in the coming years of the forecast period. Growing population and improving efforts to cut down the pressure on hospitals, and growing focus on outpatient care are some of the key factors for the development of Asia Pacific market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.