Concierge Medicine Market To Reach USD 38.9 Billion By 2032, Says DataHorizzon Research
The concierge medicine market size was valued at USD 21.1 Billion in 2023 and is expected to reach a market size of USD 38.9 Billion by 2032 at a CAGR of 7.1%.
Fort Collins, Colorado, April 17, 2024 (GLOBE NEWSWIRE) --*Growing demand for personalized and premium healthcare services to drive industry growth.*
The surge in demand for personalized healthcare services is propelling the growth of the *concierge medicine market*. Patients increasingly seek attentive and holistic care characterized by extended consultation periods and improved accessibility to their healthcare providers. Traditional healthcare systems often fail to meet these expectations, leaving patients dissatisfied due to minimal face-to-face engagement and hurried appointments. Concierge Medicine addresses this gap by offering a bespoke approach tailored to individual needs, delivering a more intimate and personalized healthcare experience. According to Concierge Medicine Today, an estimated 5,000 to 7,000 concierge medicine programs and subscription-based healthcare delivery physicians operate within the United States.
The concierge medicine market is ripe with expansion opportunities, driven by several critical factors, including the extension of insurance coverage, technological advancements, and the adoption of innovative payment models. With the rising demand for personalized healthcare services, there exists potential for insurance companies and healthcare organizations to forge partnerships or introduce coverage options tailored to concierge medicine services. Furthermore, technological innovations such as telemedicine and remote monitoring tools hold promise in broadening the geographic accessibility of concierge services, thereby enhancing patient convenience and facilitating greater reach for providers.
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*Segmentation Overview:*
*The concierge medicine market has been segmented into service type, ownership, age group, pricing model, and region.*
*Group practice registered massive growth in the past.*
· Based on the market segmentation by ownership, the group practice was the largest segment for 2023. Group practices provide physicians with resources, infrastructure, and a brand reputation, attracting more patients. With increasing demand for concierge services, larger healthcare organizations and hospital systems are adopting this approach to cater to the growing need for personalized care.
*Primary care accounted for a significant market share in 2023.*
· Based on the market segmentation by product type, the primary care segment accounted for the largest market share in 2023. This segment encompasses essential healthcare services such as routine check-ups, chronic disease management, and general consultations, which form the core offerings of concierge medical practices. Primary care services' personalized and comprehensive nature aligns well with the concierge model's emphasis on providing attentive and patient-centric care.
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*Concierge Medicine Market Report Highlights:*
· The concierge medicine market growth is anticipated at a *CAGR of 7.1% by 2032.*
· The demand for personalized healthcare will likely drive the concierge medicine market growth.
· Asia Pacific is the leading region for the concierge medicine market and is projected to retain a high dominance owing to the demand for premium healthcare services.
· Some prominent players in the concierge medicine market report include MDVIP, Signature Healthcare, Paragon Private Health, Concierge Choice Physicians, Castle Connolly Private Health Partners, Concierge Medicine of Buckhead, Qliance, ACCAD Medical, MD2, and Concierge Medical.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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CONTACT: Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
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