US Retail Clinics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

US Retail Clinics Market Analysis

The United States Retail Clinics Market size is estimated at USD 2.28 billion in 2024, and is expected to reach USD 3.78 billion by 2029, growing at a CAGR of 10.67% during the forecast period (2024-2029).

Various research studies have been conducted on the impact of the Covid pandemic on retail clinics and pharmacies in the United States. For instance, in May 2020, a research study published titled" Impact of COVID-19 Leaves Lasting Impression on Pharmacies" stated that the coronavirus disease 2019 (COVID-19) pandemic is likely to leave a lasting impression on pharmacies and the services provided by pharmacists. States, such as California and Connecticut, are looking more to pharmacists to provide patient care services, including ordering and administering testing for COVID-19. In addition, the federal lifting of some regulations has made telehealth services possible for many pharmacies. Hence, the pandemic may have a short-term negative effect on the retail clinics but in the long term, the market is likely to grow. Similarly, in November 2020, another research study published titled "The impact of COVID-19 on pharmacy transitions of care services" stated that COVID-19 has necessitated alterations to the delivery of healthcare services. Modifications include those made to improve patient and healthcare worker safety such as the use of personal protective equipment. Pharmacy services, specifically pharmacy transitions of care services have not been immune to change which have brought along their own set of unique challenges to consider. While the direct impact of COVID-19 may be transient, there will likely be longer-term implications on how we provide patient care. With expanding utilization of telehealth services, and the increasing complexities of navigating the healthcare system, it remains essential to optimize provision of care as patients transition from one provider or setting to the next. Optimizing transitions of care interventions, and implementing strategies to support effective communication and interprofessional collaboration, will support providing continuity of care for patients.

Insurance coverage is one of the key factors for the growth of the market as there is a hug population that would invest in health insurance in upcoming years as many still dont have any health insurance. For instance, according to the United States Census Bureau, around 26.1 million Americans-i.e., almost 8% of the US population-didn't have health insurance at any point during 2019. For people in this bracket, healthcare is an out-of-pocket cost that can even turn into a large medical debt. These people want low-cost healthcare services that don't require insurance, and retail clinics offer one such option. Intiatives by key market players are another factor for the growth of the market. For instance, in May 2021, Walmart and Sam's Club announced a new COVID-19 vaccine milestone: Immunizations are now available to customers and associates in all of their more than 5,100 pharmacy locations nationwide, across 49 states, Puerto Rico and Washington, D.C. Vaccines are being administered via both walk-up and pre-scheduled appointments, providing convenient options for customers to get protected against COVID-19. Hence, due to above mentioned factors the market is likely to grow in the future.

However, relucatnce to visit retail clincs by genral population is one of the key hinderance for the growth of the market.

US Retail Clinics Market Trends

This section covers the major market trends shaping the US Retail Clinics Market according to our research experts:

Point of Care Diagnostics are Expected to Hold a Significant Market Share Over the Forecast Period

US Retail Clinics Industry Segmentation

A retail clinic is a walk-in clinic located at retail outlets such as grocery stores, department stores, malls, and supermarkets. People can visit these clinics without making an appointment. The United States Retail Clinics Market is segmented by By Location (Retail Pharmacy Settings, Grocery Chains, Big Box Stores, and Others), Ownership Type (Hospital Owned and Retail Owned), and Application (Point of Care Diagnostics, Clinical Chemistry and Immunoassay, Vaccination and Others). The report offers the value (in USD million) for the above segments.