What Has Been The Evolution of the Concierge Medicine Market in Recent Years?
The concierge medicine market has seen considerable growth due to a variety of factors.
• The concierge medicine market has experienced strong growth in recent years. It is expected to grow from $20.43 billion in 2024 to $22.8 billion in 2025, at a compound annual growth rate (CAGR) of 11.6%.
The growth is driven by rising demand for personalized healthcare services, physician burnout, rising healthcare costs, changing consumer preferences, and corporate wellness programs.
What Are the Future Growth Projections for the Concierge Medicine Market?
The concierge medicine market is expected to maintain its strong growth trajectory in upcoming years.
• The concierge medicine market is projected to grow to $34.91 billion by 2029, with a CAGR of 11.2%.
The growth is attributed to the integration of alternative therapies, urbanization, healthcare disparities, and millennial health consciousness. Trends include virtual concierge services, collaborative care networks, AI, and predictive analytics.
What Are The Core Factors Supporting Growth In The Concierge Medicine Market?
The growing healthcare expenditure is anticipated to boost the concierge medicine market. Healthcare expenditure includes the total spending on health services, products, and treatments. With rising healthcare costs driven by advances in medical technology and the increasing prevalence of chronic diseases, concierge medicine is benefiting from this trend by offering personalized, high-end medical services. For example, in November 2023, the Canadian Institute for Health Information forecasted that Canada would spend approximately $344 billion on healthcare, reflecting a $9 billion increase from the previous year. This increase in healthcare spending is supporting the growth of the concierge medicine market.
What Are The Major Segments Within The Global Concierge Medicine Market?
The concierge medicine market covered in this report is segmented –
1) By Ownership: Group, Standalone
2) By Application: Cardiology, Primary Care, Psychiatry, Pediatrics, Osteopathy, Neurology, Other Applications
3) By End User: Individual, Corporate Organization
Subsegments:
1) By Group: Multi-Physician Concierge Practices, Physician Networks And Associations
2) By Standalone: Independent Concierge Practices, Single-Physician Concierge Practices
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What Emerging Trends Are Influencing The Growth Of The Concierge Medicine Market?
Companies in the concierge medicine market are improving patient access to healthcare services by offering features such as online medical directories. These platforms allow patients to easily find and book appointments with healthcare providers. For instance, in March 2023, HealthLynked Corporation, a US-based healthcare provider, launched an online concierge service with access to over 880,000 healthcare providers, enabling patients to book appointments nationwide through the HealthLynked app.
Who Are the Key Players In The Concierge Medicine Market?
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
What Is The Most Dominant Region In The Concierge Medicine Market?
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.
