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U.S. Concierge Medicine Market Size, Share & Trends Analysis Report by Application (Primary Care, Internal Medicine, Cardiology, Psychiatry), by Ownership (Standalone, Group), and Segment Forecasts, 2022-2030

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  • 78 Pages
  • March 2022
  • Region: United States
  • Grand View Research
  • ID: 5516223
The U.S. concierge medicine market size is expected to reach USD 13.3 billion by 2030. The market is expected to expand at a CAGR of 10.27% over the forecast period. Rising waiting time for a physician appointment, shortage of physicians and rising prevalence of chronic diseases are driving the patients from conventional settings to non-traditional care settings. This, coupled with more time with physicians, fewer hospitalizations, and focus on preventive care are driving the growth of the market. The U.S. healthcare system is currently dealing with a critical shortage of PCPs, as the majority of medical graduates are taking specialization courses.

According to the Association of American Medical Colleges, the U.S. is anticipated to witness a shortage of 21,000 to 55,200 primary care doctors by 2032. This is expected to widen the gap between healthcare demand and the supply of doctors. Hence, many patients are moving towards subscription-based care to ensure easy access to quality care even if there is a physician shortage. Physician burnout is the prime reason for the increasing adoption of the retainer care model. According to the Medscape National Physician Burnout & Suicide Report 2020, 42% of the physicians accepted that they are burned out. The survey consisted of over 15,000 physicians in over 29 specialties.

Female doctors are experienced more burnout and stress. In the retainer model, the physicians manage to earn more despite small patient panels and establish a work-life balance. The idea of controlling their work, setting equal membership fees compared to male counterparts, allocating more family time, and pursuing personal and professional interests is offering an attractive choice to the women practitioners. As a result, a large number of female doctors are switching to a retainer or membership-based practice. An increasing number of specialists are embracing the retainer care model in recent years. Specialties, such as endocrinology, podiatry, pediatrics, OB-GYN, rheumatology, psychiatry, dermatology, nephrology, oncology, and others, are witnessing a gradual increase in concierge care.

According to the Physicians Foundation 2016 Survey of Americas Physicians, in 2016, 6.9% of the specialists were planning to switch to cash or concierge practice. The rising participation and interest of specialty physicians in the membership model is expected to boost the market growth. The COVID-19 pandemic has increased the demand for membership-based practices. Many people adopted the membership model to ensure better access to COVID-19 testing, vaccines, and treatment. Furthermore, many physicians facing financial crises due to reduced patient volume switched to retainer practice, thereby propelling the market growth.

U.S. Concierge Medicine Market Report Highlights

  • The primary care segment dominated the market in 2021 due to the high demand for primary care services and sizeable aging population, which has increased the work burden on existing physicians
  • Thus, to reduce their stress and maintain work-life balance, many physicians are downsizing to membership-based medicine where they keep less patient volume. This is expected to fuel the segment growth in the coming years
  • The group segment held the maximum portion of the overall market revenue share in 2021 owing to the VIP services provided in the membership model
  • As transitioning to the retainer model requires legal compliance, high advertisement, and patient communication, many physicians merge their practice with concierge medicine companies. This is propelling the segment’s growth
  • In April 2020, Paragon Private Health announced its merger with Signature MD to provide world-class concierge medicine programs and an innovative service offering in areas, such as remote monitoring and telehealth. This will establish the company as a premier provider of membership-based support services

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Frequently Asked Questions about the U.S. Concierge Medicine Market

What is the estimated value of the U.S. Concierge Medicine Market?

The U.S. Concierge Medicine Market was estimated to be valued at $6.1 Billion in 2022.

What is the growth rate of the U.S. Concierge Medicine Market?

The growth rate of the U.S. Concierge Medicine Market is 10.2%, with an estimated value of $13.3 Billion by 2030.

What is the forecasted size of the U.S. Concierge Medicine Market?

The U.S. Concierge Medicine Market is estimated to be worth $13.3 Billion by 2030.

Who are the key companies in the U.S. Concierge Medicine Market?

Key companies in the U.S. Concierge Medicine Market include MDVIP, Signature MD, PartnerMD, Concierge Consultants & Cardiology, Castle Connolly Private Health PartnerS, Crossover Health, Specialdocs Consultants, LLC, Peninsula Doctor and Destination Health.

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Regional Scope
1.3 Estimates and Forecast Timeline
1.4 Research Methodology
1.5 Information procurement
1.5.1 Purchased Database
1.5.2 Internal Database
1.5.3 Secondary Sources
1.5.4 Primary research
1.5.5 Details of Primary Research
1.6 Information or Data Analysis
1.6.1 Data Analysis Models
1.7 Market Formulation & Validation
1.8 Model Details
1.8.1 Volume price analysis
11.9 List of Secondary Sources
1.10 List of Abbreviations
1.11 Objectives
1.11.1 Objective 1
1.11.2 Objective 2
1.11.3 Objective 3
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.2.1 Application
2.2.2 Ownership
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Related/Ancillary Market Outlook
3.2 Market Dynamics
3.2.1 Market Driver Analysis Advantages of concierge medicine to patients Rising adoption of concierge medicine among physicians Shortage of primary care physicians Entry of specialists in concierge medicine
3.2.2 Market Restraint Analysis Lack of health insurance coverage Competition from retail clinics Impact on Patient care access due to physicians downsizing patient panel
3.3 Penetration & Growth Prospect Mapping
3.4 U.S. Concierge Medicine Market: Business Environment Analysis Tools
3.4.1 U.S. Concierge Medicine Market-PEST Analysis Political & legal Social & economic Technological
3.4.2 Industry Analysis-Porter’s Bargaining power of buyers: Moderate Bargaining power of suppliers: Moderate Competitive rivalry: High Threat of new entrants: High Threat of substitutes: High
3.5 Qualitative Analysis: Impact of COVID-19 Pandemic
Chapter 4 U.S. Concierge Medicine Market: Application Analysis
4.1 U.S. Concierge Medicine Application Market Share Analysis, 2021 & 2030
4.2 U.S. Concierge Medicine Application Market: Segment Dashboard
4.3 Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the Application Segment
4.3.1 Primary Care Primary care market, 2017-2030 (USD Million)
4.3.2 Pediatrics Pediatrics market, 2017-2030 (USD Million)
4.3.3 Osteopathy Osteopathy market, 2017-2030 (USD Million)
4.3.4 Internal Medicine Internal medicine market, 2017-2030 (USD Million)
4.3.5 Cardiology Cardiology market, 2017-2030 (USD Million)
4.3.6 Psychiatry Psychiatry market, 2017-2030 (USD Million)
4.3.7 Others Others market, 2017-2030 (USD Million)
Chapter 5 U.S. Concierge Medicine Market: Ownership Analysis
5.1 U.S. Concierge Medicine Ownership Market Share Analysis, 2021 & 2030
5.2 U.S. Concierge Medicine Ownership Market: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the Ownership Segment
5.3.1 Standalone Standalone market, 2017-2030 (USD Million)
5.3.2 Group Group market, 2017-2030 (USD Million)
Chapter 6 Competitive Landscape
6.1 Recent development & impact analysis by key market participants
6.2 Company/Competition Categorization
6.3 Company Market Position Analysis
6.4 Company Profiles
6.4.1 MDVIP Company overview Service benchmarking Strategic initiatives
6.4.2 Signature MD Company overview Service benchmarking Strategic initiatives
6.4.3 PartnerMD Company overview Service benchmarking
6.4.4 Concierge Consultants & Cardiology Company overview Service benchmarking
6.4.5 Castle Connolly Private Health Partners Company overview Service benchmarking Strategic initiatives
6.4.6 Crossover Health Company overview Financial performance Service benchmarking Strategic initiatives
6.4.7 Specialdocs Consultants, LLC Company overview Service benchmarking
6.4.8 Peninsula Doctor Company overview Service benchmarking
6.4.9 Cambell Family Medicine Company overview Service benchmarking
6.4.10 Destination Health Company overview Service benchmarking
6.4.11 Priority Physicians, Inc Company overview Service benchmarking
6.4.12 UC San Diego Health Company overview Service benchmarking
List of Tables
1. List of secondary sources
2. List of abbreviation
3. U.S. concierge medicine market estimates and forecast, 2017-2030 (USD Million)
4. U.S. concierge medicine market revenue estimates and forecast by application, 2017-2030 (USD Million)
5. U.S. concierge medicine market revenue estimates and forecast by ownership, 2017-2030 (USD Million)
List of Figures
1. U.S. concierge medicine market segmentation
2. Market research process
3. Data triangulation techniques
4. Primary research pattern
5. Market research approaches
6. Supply-chain-based sizing & forecasting
7. QFD modeling for market share assessment
8. Market formulation & validation
9. Market trends & outlook
10. Market driver relevance analysis (Current & future impact)
11. Market restraint relevance analysis (Current & future impact)
12. Penetration & growth prospect mapping
13. U.S. concierge medicine market: Application movement analysis
14. U.S. concierge medicine market application outlook: Key takeaways
15. Primary care market, 2017 - 2030 (USD Million)
16. Pediatrics market 2017 - 2030 (USD Million)
17. Osteopathy market 2017 - 2030 (USD Million)
18. Internal medicine market 2017 - 2030 (USD Million)
19. Cardiology market 2017 - 2030 (USD Million)
20. Psychiatry market 2017 - 2030 (USD Million)
21. Others market 2017 - 2030 (USD Million)
22. U.S. concierge medicine market: Ownership movement analysis
23. U.S. concierge medicine market ownership outlook: Key takeaways
24. Standalone market, 2017 - 2030 (USD Million)
25. Group market, 2017 - 2030 (USD Million)
26. Recent developments & impact analysis by key market participants
27. Competition categorization
28. Market position analysis

Companies Mentioned

  • Signature MD
  • PartnerMD
  • Concierge Consultants & Cardiology
  • Castle Connolly Private Health PartnerS
  • Crossover Health
  • Specialdocs Consultants, LLC
  • Peninsula Doctor
  • Cambell Family Medicine
  • Destination Health
  • Priority Physicians, Inc
  • UC San Diego Health