Healthcare Industry News: Walgreen
News Release - November 15, 2007
Revenues From Retail Clinic Services Poised to Reach Nearly $4.5 Billion by 2011
New York, Nov 15, 2007--(HSMN NewsFeed)--While the costs of receiving medical care continue to burden or elude many patients, residents across the country are starting to discover the convenient and relatively affordable services offered by in-store clinics, a growing trend that could realize revenues of nearly $4.5 billion by 2011, according to Retail Clinics: The Emerging Market for Convenience Clinics and In-Store Healthcare, a new report by Kalorama Information.Offering significant discounts over similar services performed by doctors and hospitals—sometimes at prices at or below insurance co-pay amounts—and more convenient locations and hours, retail clinics are catering to the financially over-burdened, the physically underserved, and the 90 million under- and uninsured and striking a nerve.
While revenues were slightly more than $121 million in 2006, intense market growth over the next four years will drive revenues into the billions of dollars, making retail clinics a viable investment. Indeed, for the likes of major chains such as CVS and Walgreens, whose respective high profile acquisitions of the top two market leaders MinuteClinic and Take Care Health solidified an industry-wide commitment to in-store clinic success, the rapid acceptance of independent clinics has only further stimulated market growth and demand.
“Since their inception in 2000, there are now 426 clinics and by the end of 2009 we estimate 2,885, a number that will more than double to 7,885 by the end of 2011,” notes Steven Heffner, publisher of Kalorama Information. “With this phenomenal growth and competitive threat on the horizon, many in the medical community are now watching the retail sector closely and reacting with extended office hours, greater accommodation of walk-in patients with immediate needs, and partnering relationships with the clinics.”
A one-of-a-kind report, Retail Clinics focuses on the market for clinical facilities in drug stores, supermarkets, mass merchandisers, and other outlets. While the trend has been documented in news media and business journals, the market for this innovative type of healthcare delivery has not been delineated in a syndicated market research report until now. This report can be purchased directly from Kalorama Information by visiting http://salesandmarketingnetwork.com/reports.php?ID=2317
Source: Kalorama Information
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