United States Concierge Medicine Market Foresees Noteworthy US$17.97 Billion Valuation by 2033

The United States concierge medicine market is expected to be worth US$17.97 billion by 2033. The concierge medicine market is expected to increase at a compound annual growth rate (CAGR) of 10.32% by 2023. It is projected that US sales of concierge pharmaceuticals will reach US$ 6.73 billion by 2023..

Same-day appointments, fewer hospitalizations, 24/7 access to medical practitioners, and a focus on primary care are key factors enhancing the United States concierge medicine market growth.

Concierge Medicine is Ideal for Both Patients and Doctors

Both patients and medical professionals win from concierge medicine. As a result, many concierge doctors are converting to this method. The United States has between 10,000 and 25,000 clinicians or subscription-based services, claims Concierge Medical Today, LLC.

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Several female doctors are converting to concierge practice. Female physicians experience greater stress and burnout. Concierge medicine’s growing popularity is primarily due to physician burnout.

Enhancing patient awareness, improving disposable income, and expanding demand for quality healthcare services are projected to stimulate concierge medicine demand in the United States. Due to these perks, millennials are becoming more interested in concierge practice, strengthening the demand for concierge medicine in the United States.

Hybrid Concierge Approach Resolves Issue of Paucity of Primary Care Physicians

The hybrid concierge approach satisfactorily addresses primary care physician shortages. In the hybrid model, the primary care physician offers patients the option to select either subscription-based treatment or conventional care covered by insurance.

Access to healthcare may be challenging due to the physician shortage, leading many patients to concierge physicians for more accessible care. Even in a physician shortage, the subscription-based model may guarantee simple access to care. The United States concierge medicine market is believed to be powered by it.

Key Takeaways:

• The primary care segment in the specialty category accounts for a considerable United States concierge medicine market share of 25.6% in 2023.
• Physicians downgrade membership-based medicine to reduce stress and improve the overall patient experience. This is likely to amplify specialty category growth in the coming years.
• In 2023, the group sector in the ownership category had 64.1% of the market.
• Doctors combine offices with concierge medical organizations because converting to a retainer model demands legal compliance, advertising, and patient communication. This is positively influencing the ownership segment’s expansion.

Competitive Analysis

With many solo and group concierge physicians, the United States concierge medicine industry is fragmented. Concierge care providers are constantly working to attract famous healthcare professionals to increase membership volume. The leading United States concierge medicine market manufacturers’ common growth strategies are partnership and physician engagement.

Modern Developments

Partnership

Castle Connolly Private Health Partners (CCPHP) and Banner Health announced a partnership to launch the Banner Beyond Program in February 2022. The program offers members a customized and practical experience in a state-of-the-art concierge setting.

Acquisition

Businesses like Crossover Health and Signature MD in the United States concierge medicine industry concentrate on funding and acquisition.

Collaboration

By March 2021, Cypress Membership Medicine and Signature MD announced their planned merger in association with Blue Sea Capital. The merger helped SignatureMD maintain its leading position as a provider of concierge medical services.

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Key Players:

• 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.
• USA San Diego Health

Key Segments

By Specialty:

• Primary Care
• Pediatrics
• Osteopathy
• Internal Medicine
• Cardiology
• Psychiatry
• Others

By Ownership:

• Standalone
• Group

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa
• Europe