The concierge medicine market size has grown rapidly in recent years. It will grow from $18.38 billion in 2023 to $20.43 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to several factors including the increasing demand for personalized healthcare, physician burnout, rising healthcare costs, a shift in consumer preferences, and the implementation of corporate wellness initiatives.
The concierge medicine market size is expected to see rapid growth in the next few years. It will grow to $31.39 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to several factors including the integration of alternative therapies, urbanization, lifestyle changes, healthcare disparities, regulatory changes, and the increasing health consciousness among millennials. Major trends expected in this period include the adoption of virtual concierge services, the development of collaborative care networks, technological advancements, the utilization of artificial intelligence, and the implementation of predictive analytics.
The growth of the concierge medicine market is anticipated to be driven by the increasing healthcare expenditure. Healthcare expenditure refers to the total resources spent on healthcare services and products within a specific timeframe, encompassing costs for hospital care, physician services, medications, and other health-related services. This expenditure is on the rise due to advancements in medical technology and the growing prevalence of chronic diseases. Concierge medicine utilizes healthcare expenditure to deliver personalized, premium medical services, providing patients with enhanced access and tailored care. For instance, according to the Canadian Institute for Health Information (CIHI), total health expenditure in Canada reached $329 billion in 2021, marking a $23 billion increase compared to 2020. Thus, the escalating healthcare expenditure is fueling the growth of the concierge medicine market.
Leading companies in the concierge medicine market are offering services with comprehensive features, including an online medical directory, to improve patient access to personalized and immediate healthcare services. An online medical directory serves as a digital platform listing healthcare providers such as doctors, specialists, and clinics, enabling users to search for and access information about medical professionals and their services. For example, HealthLynked Corporation, a US-based healthcare services provider, launched an online concierge service in March 2023. This service allows patients to book appointments with doctors nationwide through an extensive online directory featuring over 880,000 healthcare providers. It streamlines appointment bookings by offering specific time slots and facilitates requests for unclaimed provider listings. Patients can also update their medical records using the HealthLynked app, with assistance available from concierge nurse staff.
In February 2023, Amazon Inc., a US-based technology company specializing in e-commerce, acquired One Medical for $3.9 billion. This acquisition aimed to bolster Amazon's healthcare offerings, providing convenient access to medical services for its employees. One Medical, a US-based company operating in concierge medicine, offers a membership-based primary care practice tailored around patients' needs.
Major companies operating in the concierge medicine market are Duke Health, Privia Health Group Inc., One Medical Group Inc., Crossover Health, MedScape, MDVIP LLC, Sollis Health, Medix global, PinnacleCare, PartnerMD LLC, Paragon Private Health, SignatureMD, Castle Connolly Private Health Partners LLC, Concierge Choice Physicians, EliteHealth, Specialdocs Consultants LLC, Access Healthcare Direct, Dedication Health, Plus Humain, Diamond Physicians, Atlas MD, Red Carpet Concierge Medicine, HealthPulse Concierge Medicine, Lake Oconee Concierge Medicine, NOVA Concierge Medicine & Aesthetics.
Europe was the largest region in the concierge medicine market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the concierge medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the concierge medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Concierge medicine is a healthcare model wherein patients pay a membership fee or retainer to access enhanced care and personalized attention from their primary care physician. This approach aims to alleviate physician burnout by reducing patient loads and administrative burdens, thereby fostering a more sustainable practice environment.
Ownership of concierge medicine can be categorized into group and standalone. In the group ownership model, there is collective control, possession, or authority over assets, resources, or decisions shared among its members. This model finds applications in various medical specialties such as cardiology, primary care, psychiatry, pediatrics, osteopathy, neurology, among others. Concierge medicine services are provided to end-users including individuals and corporate organizations.
The concierge medicine market research report is one of a series of new reports that provides concierge medicine market statistics, including the concierge medicine industry global market size, regional shares, competitors with concierge medicine market share, detailed concierge medicine market segments, market trends, and opportunities, and any further data you may need to thrive in the concierge medicine industry. These concierge medicine market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The concierge medicine market includes revenues earned by entities by providing services such as personalized care plans, comprehensive health management, and nutritional counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The concierge medicine market size is expected to see rapid growth in the next few years. It will grow to $31.39 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to several factors including the integration of alternative therapies, urbanization, lifestyle changes, healthcare disparities, regulatory changes, and the increasing health consciousness among millennials. Major trends expected in this period include the adoption of virtual concierge services, the development of collaborative care networks, technological advancements, the utilization of artificial intelligence, and the implementation of predictive analytics.
The growth of the concierge medicine market is anticipated to be driven by the increasing healthcare expenditure. Healthcare expenditure refers to the total resources spent on healthcare services and products within a specific timeframe, encompassing costs for hospital care, physician services, medications, and other health-related services. This expenditure is on the rise due to advancements in medical technology and the growing prevalence of chronic diseases. Concierge medicine utilizes healthcare expenditure to deliver personalized, premium medical services, providing patients with enhanced access and tailored care. For instance, according to the Canadian Institute for Health Information (CIHI), total health expenditure in Canada reached $329 billion in 2021, marking a $23 billion increase compared to 2020. Thus, the escalating healthcare expenditure is fueling the growth of the concierge medicine market.
Leading companies in the concierge medicine market are offering services with comprehensive features, including an online medical directory, to improve patient access to personalized and immediate healthcare services. An online medical directory serves as a digital platform listing healthcare providers such as doctors, specialists, and clinics, enabling users to search for and access information about medical professionals and their services. For example, HealthLynked Corporation, a US-based healthcare services provider, launched an online concierge service in March 2023. This service allows patients to book appointments with doctors nationwide through an extensive online directory featuring over 880,000 healthcare providers. It streamlines appointment bookings by offering specific time slots and facilitates requests for unclaimed provider listings. Patients can also update their medical records using the HealthLynked app, with assistance available from concierge nurse staff.
In February 2023, Amazon Inc., a US-based technology company specializing in e-commerce, acquired One Medical for $3.9 billion. This acquisition aimed to bolster Amazon's healthcare offerings, providing convenient access to medical services for its employees. One Medical, a US-based company operating in concierge medicine, offers a membership-based primary care practice tailored around patients' needs.
Major companies operating in the concierge medicine market are Duke Health, Privia Health Group Inc., One Medical Group Inc., Crossover Health, MedScape, MDVIP LLC, Sollis Health, Medix global, PinnacleCare, PartnerMD LLC, Paragon Private Health, SignatureMD, Castle Connolly Private Health Partners LLC, Concierge Choice Physicians, EliteHealth, Specialdocs Consultants LLC, Access Healthcare Direct, Dedication Health, Plus Humain, Diamond Physicians, Atlas MD, Red Carpet Concierge Medicine, HealthPulse Concierge Medicine, Lake Oconee Concierge Medicine, NOVA Concierge Medicine & Aesthetics.
Europe was the largest region in the concierge medicine market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the concierge medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the concierge medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Concierge medicine is a healthcare model wherein patients pay a membership fee or retainer to access enhanced care and personalized attention from their primary care physician. This approach aims to alleviate physician burnout by reducing patient loads and administrative burdens, thereby fostering a more sustainable practice environment.
Ownership of concierge medicine can be categorized into group and standalone. In the group ownership model, there is collective control, possession, or authority over assets, resources, or decisions shared among its members. This model finds applications in various medical specialties such as cardiology, primary care, psychiatry, pediatrics, osteopathy, neurology, among others. Concierge medicine services are provided to end-users including individuals and corporate organizations.
The concierge medicine market research report is one of a series of new reports that provides concierge medicine market statistics, including the concierge medicine industry global market size, regional shares, competitors with concierge medicine market share, detailed concierge medicine market segments, market trends, and opportunities, and any further data you may need to thrive in the concierge medicine industry. These concierge medicine market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The concierge medicine market includes revenues earned by entities by providing services such as personalized care plans, comprehensive health management, and nutritional counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Concierge Medicine Market Characteristics3. Concierge Medicine Market Trends and Strategies32. Global Concierge Medicine Market Competitive Benchmarking33. Global Concierge Medicine Market Competitive Dashboard34. Key Mergers and Acquisitions in the Concierge Medicine Market
4. Concierge Medicine Market - Macro Economic Scenario
5. Global Concierge Medicine Market Size and Growth
6. Concierge Medicine Market Segmentation
7. Concierge Medicine Market Regional and Country Analysis
8. Asia-Pacific Concierge Medicine Market
9. China Concierge Medicine Market
10. India Concierge Medicine Market
11. Japan Concierge Medicine Market
12. Australia Concierge Medicine Market
13. Indonesia Concierge Medicine Market
14. South Korea Concierge Medicine Market
15. Western Europe Concierge Medicine Market
16. UK Concierge Medicine Market
17. Germany Concierge Medicine Market
18. France Concierge Medicine Market
19. Italy Concierge Medicine Market
20. Spain Concierge Medicine Market
21. Eastern Europe Concierge Medicine Market
22. Russia Concierge Medicine Market
23. North America Concierge Medicine Market
24. USA Concierge Medicine Market
25. Canada Concierge Medicine Market
26. South America Concierge Medicine Market
27. Brazil Concierge Medicine Market
28. Middle East Concierge Medicine Market
29. Africa Concierge Medicine Market
30. Concierge Medicine Market Competitive Landscape and Company Profiles
31. Concierge Medicine Market Other Major and Innovative Companies
35. Concierge Medicine Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Concierge Medicine Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on concierge medicine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for concierge medicine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The concierge medicine market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Ownership: Group; Standalone2) By Application: Cardiology; Primary Care; Psychiatry; Pediatrics; Osteopathy; Neurology; Other Applications
3) By End User: Individual; Corporate Organization
Key Companies Mentioned: Duke Health; Privia Health Group Inc.; One Medical Group Inc.; Crossover Health; MedScape
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Duke Health
- Privia Health Group Inc.
- One Medical Group Inc.
- Crossover Health
- MedScape
- MDVIP LLC
- Sollis Health
- Medix global
- PinnacleCare
- PartnerMD LLC
- Paragon Private Health
- SignatureMD
- Castle Connolly Private Health Partners LLC
- Concierge Choice Physicians
- EliteHealth
- Specialdocs Consultants LLC
- Access Healthcare Direct
- Dedication Health
- Plus Humain
- Diamond Physicians
- Atlas MD
- Red Carpet Concierge Medicine
- HealthPulse Concierge Medicine
- Lake Oconee Concierge Medicine
- NOVA Concierge Medicine & Aesthetics
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 20.43 Billion |
Forecasted Market Value ( USD | $ 31.39 Billion |
Compound Annual Growth Rate | 11.3% |
Regions Covered | Global |