According to Coherent Market Insights, the global concierge medicine market size is estimated to be valued at USD 19.86 billion in 2024 and is expected to surpass USD 37.87 billion by 2031, growing at a CAGR of 9.7% from 2024 to 2031.
The growth of
the Concierge Medicine Market is attributed to increasing demand for
personalized healthcare and focus on quality healthcare over quantity. With
rising income levels and health consciousness among individuals, there is
growing demand for healthcare services. These services offer personalized care,
specialized diagnostic tests, unlimited access to physicians, and more
accessible appointment options. Request a
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This model
addresses the needs of wealthier patients who may be seeking alternatives due
to perceived limitations of standard primary care, Further, the fee paid to
concierge physicians guarantees longer visits and direct access which fosters
doctor-patient relationship and improves health outcomes. Market Trends Adoption of
Hybrid Models: The hybrid model offers advantages of both direct patient care
approach along with cost savings. It allows physicians to treat both concierge
and non-concierge patients by allocating specific times for direct care
patients and scaling services according to membership fees. This balances
work-life flexibility for physicians alongside higher revenues. Rise of
Multi-Specialty Group Practices: Large group medical practices are transforming
primary care with multi-specialty services and technology enabled tools to
enhance patient experience and health monitoring. They employ physicians from
different specialties to personalize care. This model is gaining traction as it
provides seamless coordinated care across specialties using shared medical
records and under one roof access. Concierge
Medicine Market Report Coverage Report Coverage Details Market Revenue in 2024 $19.86 billion Estimated Value by 2031 $37.87 billion Growth Rate Poised to grow at a CAGR of 9.7% Historical Data 2019–2023 Forecast Period 2024–2031 Forecast Units Value (USD Million/Billion) Report Coverage Revenue Forecast, Competitive Landscape,
Growth Factors, and Trends Segments Covered By Ownership, By Application, By End User Geographies Covered North America, Europe, Asia Pacific, and Rest
of World Growth Drivers • Rising healthcare costs • Demand for personalized healthcare Restraints & Challenges • High service cost • Limited insurance coverage
Individual
Membership Segment: The individual membership segment is expected to account
for around 65% of the total concierge medicine market share in 2024. As the
trend of personalized healthcare grows, more individuals are opting for
concierge medicine services to access enhanced quality of care and personalized
attention from physicians. Concierge practices cater to 5-25 patients per
doctor. This provides benefits such as same- or next-day appointments, extended
visit times, and 24/7 physician access via phone, text, or email. Immediate Delivery Available | Buy This
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Group Membership
Segment: The group membership segment includes larger concierge medical groups
consisting of multiple physicians serving hundreds of members through a
centralized service model. This segment is expected to witness faster growth
during the forecast period driven by growing preference of employers to offer
concierge medicine benefits as part of employee healthcare benefits. Key Market
Takeaways The global
concierge medicine market is anticipated to witness a CAGR of 9.7% during the
forecast period 2024-2031. This is owing to growing demand for personalized
healthcare services and preventive care approach. On the basis of
ownership, group segment is expected to hold a dominant position over the
forecast period, accounting for around 60% market share in 2031. Large group
concierge practices are able to provide enhanced services and amenities through
economies of scale. By application,
primary care services accounts for over 35% of the total market share
currently. However, cardiology and internal care segments are expected to
witness high growth during the forecast period driven by focus on preventive
healthcare and management of chronic diseases. North America
holds the leading position in the global concierge medicine market and is
expected to dominate over the next 7 years. Factors such as higher disposable
incomes, rising healthcare costs, and growing focus on wellness & lifestyle
medicine are driving higher adoption of concierge services in the region. Competitor
Insights - PartnerMD Recent
Developments In July 2023,
Specialdocs Consultants, LLC announced a partnership with 10 physicians to
launch its unique personalized care practices. The partnership will strengthen
Specialdocs Consultants’s position due to growing demand for concierge
medicine. Ask For Customization @ https://www.coherentmarketinsights.com/insight/request-customization/6850
Detailed Segmentation- By Ownership: By Application: By End User: By Region: About Us:
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- Crossover Health
- MDVIP
- CONCIERGE CONSULTANTS & CARDIOLOGY
- Signature MD
- Peninsula Doctor
- Winstead PC
- Castle Connolly Private Health Partners,
- Specialdocs Consultants, LLC.
- Priority Physicians, Inc.
Senior Client Partner – Business Development
Coherent Market Insights
