NEW YORK, Feb. 19, 2024 /PRNewswire/ — The concierge medicine market is expected to grow by USD 6.37 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 5.98% during the forecast period, according to Technavio Research. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a PDF Sample Report
Technavio has announced its latest market research report titled Global Concierge Medicine Market 2024-2028
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.15% |
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Market growth 2024-2028 |
USD 7.86 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.47 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 42% |
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Key countries |
US, Canada, Germany, UK, and China |
The market is segmented by application (primary care, pediatrics, cardiology, internal medicine, and others), ownership (group and standalone), and geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America is estimated to contribute 45% to the growth of the global market during the forecast period. The largest revenue-generating countries in this region are the US and Canada. Easy accessibility of concierge medicines in this area is ensured by the presence of major market players.
The growth by the primary care segment will be significant during the forecast period. Primary care is any kind of medical treatment carried out by a healthcare provider. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report
“Besides analyzing the current scenario, our report examines historic data from 2017 to 2021”- Technavio
Company Profile:
Cambell Family Medicine, Concierge Consultants, and Cardiology, Crossover Health, Destination Health, MDVIP, MedFind, Ochsner Health, PartnerMD, Peninsula Doctor, Perlman Clinic, Priority Physicians Inc., Scripps Health, Sharp Healthcare, Signature MD, Solv Health Inc., Specialdocs Consultants LLC, UC San Diego Health, Ziff Davis Inc., ZocDoc Inc., and Winstead PC
Ziff Davis Inc. – The company offers concierge medicine solutions such as healthcare finance, senior care, and other medical services. To gain access to more company profiles available with Technavio, buy the report!
The growing geriatric population is the key factor driving growth. The prevalence of diseases, such as lung disease, cancer, and stroke, is high among the aging population. As the immune system deteriorates with age, there is a direct relationship between aging and susceptibility to infection. Apart from the impaired functioning of the immune system, the reduced functioning of organs also increases the chances of acquiring diseases such as chronic liver disease, chronic kidney disease, hypertension, and diabetes. These factors contribute to the demand for concierge medicines.
In the evolving healthcare sector, Concierge Medicine, also known as Direct Primary Care, Retainer-based Medicine, or Boutique Medicine, is gaining prominence. This personalized approach offers patients exclusive access to primary care physicians through subscription-based models like Platinum Practices or Concierge Care. Healthcare providers adopt this business strategy to ensure patients receive dedicated attention and comprehensive services. Fees for these services are typically charged on an annual or monthly basis, allowing patients to budget effectively for their healthcare needs. Through Concierge Medicine, doctors can establish deeper connections with their patients, delivering tailored medical care and fostering trust in the doctor-patient relationship. As the demand for personalized healthcare grows, Concierge Medicine emerges as a viable solution for both patients and doctors alike.
The industry addresses the evolving needs of patients, providing personalized care and assistance. Healthcare insurance firms collaborate with medical professionals to offer individualized treatment services, ensuring patient satisfaction and reducing burnout. By prioritizing care and accessibility, facilities aim to mitigate incorrect diagnoses and unhappiness among patients. However, some patients face restrictions on access due to affordability concerns. Despite this, the industry caters to high-income clients seeking luxurious and private medical care. With a focus on affordability and quality, concierge medicine services continue to gain popularity, offering a unique approach to healthcare delivery that combines personalized attention with comprehensive medical support.
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ToC:
Executive Summary
Landscape
Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Application
Segmentation by Ownership
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions.
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SOURCE Technavio