The Growing Concierge Medicine Market in the United States: Meeting the Demand for Specialised Healthcare Services

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Concierge Medicine Market Trends – Introduction of innovative technologies such as telemedicine

Concierge Medicine Market Size – USD 10.8 Billion in 2021, Market Growth – at a CAGR of 5.9%”

— Emergen Research

VANCOUVER, BRITISH COLUMBIA, CANADA, June 13, 2023/EINPresswire.com/ -- The global concierge medicine market size was USD 10.8 Billion in 2021 and is expected to register a revenue CAGR of 5.9% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for personalized care, better & improved accessibility and benefits offered by concierge medicine to patients over traditional healthcare services, career growth prospects and satisfaction among concierge physicians, and introduction of innovative technologies such as telemedicine are main factors driving market revenue growth.

Concierge healthcare is a trend that the healthcare industry and its experts are adopting to improve level of patient service they provide while also developing new revenue sources. For medical professionals looking to advance their careers, concierge medicine presents new possibilities. The significant Primary Care Physician (PCP) shortage is believed to be resolved by use of concierge healthcare services, which are seen as a way for healthcare professionals and providers to . In the U.S., hospitals such as Inova Health System, Cleveland Clinic, and Massachusetts General Hospital, provide numerous prototype concierge programs. Introduction of telemedicine and telehealth technologies is a significant emerging trend in global concierge medicine, which allows doctors to virtually visit patients anywhere in the world. Patients of concierge medicine prefer telemedicine since it enables them to conveniently keep their appointments without any hassle or travel time.

However, high out-of-pocket expenditures for expert consultations, medicines, and hospital visits, as well as substantial initial investment requirements for this healthcare service, are some of the major obstacles to market's revenue growth. Additionally, a change to concierge medicine carries risk of losing patients who are accustomed to traditional model of healthcare, which is hindering market revenue growth.

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Concierge Medicine market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others.

Leading companies profiled in the report are:

Signature MD, Concierge Consultants & Cardiology, Castle Connolly Private Health Partners, Crossover Health, Specialdocs Consultants, LLC., Campbell Family Medicine, Priority Physicians, Inc., PartnerMD, U.S. San Diego Health, and MDVIP

Key Highlights presented in the report:

The psychiatry segment accounted for a moderate revenue share in 2021. Patients will have more time with their psychiatrist and have fewer delays as a result of appointment scheduling if they have a concierge psychiatrist. Patients may expect to receive a personal response to their queries and concerns in a very quick manner from concierge psychiatrist, who are readily available anytime for patients facing any problem or require any emergency treatment sessions or consultations. Necessity for home visits has grown, for a variety of reasons, from clinical requirements to simple convenience and preference for being in comfort of patient's home.

The standalone segment accounted for significant revenue share in 2021. Standalone concierge services include Direct Primary Care physicians (DPCs), which are fiercely independent, small and medium businesses that exclusively serve needs of patients, not insurance providers, medical facilities, or large corporations. This concept aims to provide physicians with a steady income without requiring them to spend some time coding and billing in the same manner as a primary care physician, allowing them to spend more time with their patients.

The Europe market accounted for a significant revenue share in 2021. The market is being driven forward by growing preventative care needs, greater collaborations and funding between major companies and hospitals, and growing consumer demands for practical, efficient, and novel treatment choices. In May 2021, Concierge Medicine Europe was launched in Prague's Pankrác neighborhood as one of the first Medical Centers of Excellence for Prevention and Lifestyle Medicine in the region, hence driving revenue growth of the market in this region.

Key Questions Answered in the Report:

What are the key growth factors driving and restraining the Concierge Medicine market?

Who are the market's most prominent players?

What are these companies' primary strategies?

What are the Concierge Medicine industry's primary potential and growth prospects over the projection period?

What is the market growth rate for Concierge Medicine?

What is the expected market capitalization of the Concierge Medicine industry by 2032?

Which region is anticipated to expand the most in the next years?

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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Concierge Medicine market expected to boost the growth of the industry in the coming years.

Market Segmentation by product type:

Application Outlook (Revenue, USD Billion; 2019-2030)
Primary Care

Pediatrics

Osteopathy

Internal Medicine

Cardiology

Psychiatry

Others

Ownership Outlook (Revenue, USD Billion; 2019-2030)
Group

Standalone

Regional Outlook (Revenue, USD Billion; 2019-2030)
North America

U.S.

Canada

Mexico

Europe

Germany

France

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

Major Regions Covered in the Concierge Medicine Market Report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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