U.S. Concierge Medicine Market To Witness A Significant Growth Of USD 13.3 Billion By 2030:

Posted by Neha Bora on February 2nd, 2024

San Francisco, 2 Feb 2024: The Report U.S. Concierge Medicine Market Size, Share & Trends Analysis Report By Specialty (Primary Care, Pediatrics, Osteopathy, Internal Medicine, Cardiology, Psychiatry), By Ownership (Standalone, Group), And Segment Forecasts, 2024 - 2030

The U.S. concierge medicine market size is anticipated to reach USD 13.3 billion by 2030, based on a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 10.37% from 2024 to 2030. Rising waiting times for a physician appointment, shortage of physicians, and rising prevalence of chronic diseases are driving patients from conventional settings to non-traditional care settings. This, coupled with more time with physicians, fewer hospitalizations, and a focus on preventive care is driving market growth.

Concierge medicine is not only beneficial for patients but also for providers. Owing to this, many physicians are switching to this practice. As per Concierge Medicine Today, LLC, there are around 10,000 to 25,000 physicians or subscription-based programs across the U.S. A large number of female doctors are switching to concierge practice. Female doctors are more burned out and stressed. Physician burnout is the prime reason for the increase in the adoption of concierge medicine.

Hybrid concierge model successfully addresses the issues of primary care physician shortages. In hybrid model, the primary care doctor provides an option to patients to choose between subscription-based care or receiving care in the traditional way under insurance. Owing to shortage of physicians in the near future, access to healthcare will become difficult resulting in many patients moving to concierge physicians for convenient care. The subscription-based model will ensure easy access to care even if there is a physician shortage. This is expected to drive market growth over the forecast period.

Access Research Report of U.S. Concierge Medicine Market @ https://www.grandviewresearch.com/industry-analysis/us-concierge-medicine-market-report

U.S. Concierge Medicine Market Report Highlights

• Growing patient awareness, rising disposable income, and increasing demand for quality healthcare services are anticipated to boost the demand for concierge medicine in the U.S. The interest of the millennials in concierge practice is increasing owing to its advantages, which are favoring market growth
• Based on speciality, the primary care segment dominated the market in terms of revenue in 2023. Growing demand for primary care services and the sizeable aging population have increased the work burden on existing physicians. Hence, to reduce their stress and maintain work-life balance, many physicians are downsizing to membership-based medicine where they maintain less patient volume
• In terms of ownership, the group segment held the maximum market portion in 2023 owing to the VIP services provided in membership model. As transitioning to a retainer model requires legal compliance, high advertisement, and patient communication, many physicians merge their practice with concierge medicine companies
• Although concierge medicine is priced high when compared to traditional care, the patients get value services for their money. Physicians provide full attention to their patients and provide personalized care
• The demand for membership-based care skyrocketed during COVID-19 pandemic due to the presence of patients with chronic diseases such as diabetes that require continuous monitoring. Many concierge physicians are actively adopting telemedicine to connect to these patients virtually

U.S. Concierge Medicine Market Report Scope

List of Key Players in the U.S. Concierge Medicine Market

• MDVIP
• Signature MD
• Crossover Health
• Specialdocs Consultants, LLC
• PartnerMD
• Concierge Consultants & Cardiology
• Castle Connolly Private Health Partners
• Peninsula Doctor
• Cambell Family Medicine
• Destination Health
• Priority Physicians, Inc.
• S. San Diego Health

Access Press Release of U.S. Concierge Medicine Market @ https://www.grandviewresearch.com/press-release/us-concierge-medicine-market-analysis