Retail Clinics Market Trends

Growth Drivers

• Increase in Strep Throat Cases - Strep throat is a bacterial infection that leads to throat swelling and pain. The bacteria in group A Streptococcus end up causing this common condition. Children and adults of all ages get strep throat. However, it is especially common among children aged 5 to 15. Therefore, increasing cases of strep throat is one of the leading factors for the growth of retail clinics market. For instance, every year, approximately 610 million people globally contract strep throat, with many of them are children.
• Global Upsurge in Urinary Tract Infection - Globally, there are anticipated to be 152 million UTI infection cases annually, costing more than USD 6.5 billion in direct medical expenses.
• Staggering Increase in COVID-19 Detection Tests - Austria had conducted the most COVID-19 tests per 1 million population among the countries which are most seriously affected by the pandemic as of September 12, 2022. Whereas, the United States has administered nearly over 1 billion COVID-19 tests in total.
• Rise in Urbanization – As per the World Bank, currently, more than 50% of the world's population resides in cities. The number of people living in urban areas is estimated to rise more than double to 6 billion by 2045.
• Escalation of Retail Clinics for Immunization – According to the Centers for Disease Control and Prevention, more than 266.5 million doses of the COVID-19 vaccine had been given and recorded by Federal Retail Pharmacy Program participants in the US as of September 15, 2022. This comprises are the 8 million doses given on-site to long-term care facilities. With more than 41,000 sites nationwide, the program has a total of 21 retail pharmacy partners.

Challenges

• Insufficient Infrastructure for Retail Clinics – In the developing nations, owing to the slow rate of development and less GDP growth, insufficient amount of expense is spent on infrastructure for retail clinics. This trend is expected to pose as a challenge to market growth.
• Inadequacy of Provision for Treating Complex Diseases
• Stringent Governmental Regulations