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U.S. Concierge Medicine Market Trends

Report ID: GMI8453
Published Date: Mar 2024
Report Format: PDF

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U.S. Concierge Medicine Market Trends

Growing demand for personalized healthcare experiences among patients is driving the adoption of concierge medicine. Patients seek enhanced access to physicians, longer appointment times, and more personalized care, leading to increased interest in concierge medicine practices.
Furthermore, the long waiting times experienced by patients due to the high volume of people visiting hospitals and the shortage of primary care physicians create a demand for more timely access to healthcare services. Patients are willing to pay for concierge medicine services to avoid lengthy wait times and receive prompt medical attention from a dedicated physician.
For instance, as per Merritt Hawkins' 2022 Survey of Physician Appointment Wait Times, the average wait time for a new patient to secure an appointment with a physician in 15 major U.S. cities was 26 days, reflecting an 8% increase compared to the data from 2017. Thus, to reduce the longer appointment times the adoption of concierge medicine is increasing among population in the U.S., thereby supplementing the market expansion.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

U.S. concierge medicine industry size was USD 6.7 billion in 2023 and is set to expand at 9.3% CAGR from 2024-2032 driven by the growing public awareness regarding perks of concierge medicine along with digitization and adoption of telehealth services in the region.

The primary care segment accounted for 25.5% revenue share in 2023 and may generate substantial revenue by 2032 owing to the increasing need for routine check-ups, preventive care, screenings, diagnosis, and treatment of common illnesses, in the region.

U.S. concierge medicine market from the group ownership segment generated USD 4.4 billion in revenue in 2023 and is estimated to grow at a notable CAGR from 2024-2032 due to the rising need to allow a larger network of physicians within the concierge medicine practice

Some of the major firms operating in the U.S. market are Castle Connolly Private Health Partners, LLC, Concierge Choice Physicians, Crossover Health, MDVIP, One Medical Services, PartnerMD, Peninsula Doctor, Privia Health, Priority Physicians, Inc., SignatureMD, Specialdocs Consultants, LLC., UC San Diego Health.