Report: Retail Clinic Market Exceeds 1 Billion Dollars
NEW YORK, March 19, 2015 /PRNewswire/ -- For 2014, total U.S. retail clinic sales are estimated at more than $1 billion and sales are expected to continue expanding through 2019, according to Kalorama Information. Retail clinics have grown in response to the U.S. health care system's shortcomings, filling gaps in service and attracting customers who want a convenient solution. The healthcare market research publisher's new report, Retail Clinics 2015, looks at retail clinics' impact and growth of market over the next five years.
Retail Clinics 2015 can be found at KI: http://www.kaloramainformation.com/Retail-Clinics-Growth-8792050/.
"Strong historic growth has been driven by aggressive expansion, particularly by MinuteClinic, which is now owned by CVS," said Bruce Carlson, Publisher of Kalorama Information. "Growth is expected to continue."
Convenience clinics, also known as retail health clinics, are typically located in stores, malls and other retail locations, making them convenient for shoppers. They share basic characteristics. Clinics are usually staffed by nurses or nurse practitioners and feature a high transparency of pricing, with rates often prominently displayed. Low cost services are enabled by high throughput and cost containment, with broad purchasing power across many locations. Increasingly clinics accept payment not just through insurance but by cash, check or credit card as well.
Kalorama's report suggests that because of their location in stores, retail clinics serve a dual purpose of acting as businesses on their own and also bringing traffic to the store, as a customer seeking a healthcare service often makes purchases before or after their visit.
"The advantage of these clinics is that not only are they earning revenue for the companies that own them, but they also can bring customers to the store where they are expected to make more purchases," Carlson said. "Our report provides estimates of these indirect sales numbers."
Retail clinics by nature are designed to occupy small spaces and provide just basic care. Therefore, they do not use most of the sophisticated medical equipment found in hospitals or specialty centers such as advanced imaging devices. However, retail clinics are becoming relatively large users of point-of-care (POC) tests, clinical chemistry and immunoassay laboratory tests and vaccines. The report details those sales as well.
While drug stores will continue to represent the majority of all retail clinic locations by 2019, a rising number of clinics will be located at these other facilities as the retail health care concept is embraced by a growing number of stores. Retail Clinics 2015 examines:
- The U.S. Market for Retail Clinic Services, 2009–2019
- Growth of U.S. Retail Clinic Services, 2009–2019
- Leading Service Providers' Revenues and Market Share, U.S. Market for Convenience Clinics, 2014
- Market Shares of Leading Retail Clinic Service Providers, 2014
Information for this report was gathered from a wide variety of published sources including company reports, catalogs, materials and public filings; government documents; trade journals; newspapers and business press; analysts' reports and other sources. Interviews with company representatives were conducted to capture the perspectives from industry participants' point of view and assess trends, and form the basis of the forecasting and competitive analysis. Dollar figures represent the U.S. market and are expressed in current dollars. Sales estimates are provided for the historic 2009 to 2014 period and forecasts are provided through 2019. The size of each market segment refers to manufacturers' revenues in U.S. dollars.
Retail Clinics 2015: Growth of Stores, Consumer Opinion, Leading Competitors, Sales of Products to Clinics (Diagnostic Tests, Pharmaceuticals, Vaccines), Clinic Sales Forecasts and Trends can be found at KI: http://www.kaloramainformation.com/Retail-Clinics-Growth-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. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
Contact:
Bruce Carlson
(212) 807-2622
[email protected]
www.KaloramaInformation.com
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SOURCE Kalorama Information
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