NEW YORK, July 13, 2015 /PRNewswire/ -- Competition is not dead in the retail clinic market, Kalorama Information says, despite a major merger that has boosted the market leader CVS. Yet two other competitors, Walgreens and The Little Clinic, will ensure that retail healthcare does not become a single-company concept. The healthcare market research firm has covered the market for healthcare clinics located within retail stores since 2007, and its latest report Retail Clinics 2015, was published earlier in the year.
Retail Clinics 2015 is available from Kalorama Information at http://www.kaloramainformation.com/redirect.asp?progid=87402&productid=8792050.)
CVS purchased the pharmacy operations of retailer Target this year. The deal supplemented CVS's retail pharmacy business and added 80 new functioning clinics to the market leader's total.
"The first and fourth in the market combined, but second and third leaders remain the same," said Bruce Carlson, Publisher of Kalorama Information. "They will continue to increase their store locations with clinics and are positioned to benefit as consumers grow more familiar with retail healthcare outlets."
According to Kalorama Information's report, Walgreens has the second place position in the sector with 400 clinics in 2014 – up from just three dozen clinics at the end of 2006. Walgreens entered the market via its 2007 acquisition of Take Care Health, which was founded in November 2005. With more than 8,300 stores following its 2010 acquisition of Duane Reade, Walgreens competes aggressively with CVS and will presumably utilize the clinics to enhance traffic and sales in its stores. Continued expansion will be driven in part by its retail clinics' ongoing integration into the conventional health care system – the company continues to work with insurers to obtain coverage for its services and has entered into agreements with several major providers including Cigna Health Care. Kalorama Information estimates that by 2019, at least 525 retail clinics will be operational in Walgreens stores throughout the U.S.
In third place, The Little Clinic is growing rapidly as a result of investment funding from New York private equity firm Solera Capital, LLC. The Little Clinic had 149 locations in the central and southeastern states, up from 91 locations in 2008, 24 locations in mid 2007 and 15 sites the prior year. Many clinics are located in Kroger and Publix supermarkets. Assuming that it can continue to grow and develop relationships with additional retail chains as it optimizes operations and closes underperforming locations. The firm is estimated to have at least 160 sites operational by the end of 2019.
The report, Retail Clinics 2015: Growth of Stores, Consumer Opinion, Leading Competitors, Sales of Products to Clinics (Diagnostic Tests, Pharmaceuticals, Vaccines), Clinic Sales Forecasts and Trends contains more results on reasons for visits and patient satisfaction with retail clinics. In addition, it provides store clinic numbers, how much revenue store clinics make, and trend information. The report can be found at http://www.kaloramainformation.com/redirect.asp?progid=87402&productid=8792050.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
SOURCE Kalorama Information