USD 15.20 billion
Concierge Medicine Market Size, Share, Growth Analysis, By Specialty (Primary Care, Pediatrics), By Ownership (Standalone, Group), By Region -Industry Forecast 2024-2031.
Report ID:
SQMIG35H2318 |
Region:
Global |
Published Date: November, 2024
Pages:
206
|Tables:
64
|Figures:
72
Concierge Medicine Market Insights
Global Concierge Medicine Market size was valued at USD 15.20 billion in 2022 and is poised to grow from USD 16.51 billion in 2023 to USD 31.94 billion by 2031, growing at a CAGR of 8.60% during the forecast period (2024-2031).
The number of daily visits and lack of primary care physicians added to waiting times. In conventional care settings, patients are forced to wait hours for an appointment. However, this is not the case in gateway medicine. While concierges limit the number of patients, they spend more time at each encounter to fully see the patient.
Concierge medicine encourages a healthy patient-physician relationship, which is critical to a speedy recovery. It focuses more on preventive care and can reduce the risk of serious chronic diseases. In addition, concierge physicians provide access to patients, coordinating care with specialists. Also, the whole family can see one doctor. The benefits offered by gateway medicine to these patients are expected to fuel the demand over the forecast period. During the COVID-19 pandemic, demand for health care increased dramatically. People waited in line for hours for further tests or advice. When doctor visits and treatment options were cut off, patients demanded reliable care with ease.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Primary Care
Fastest Growth
Pediatrics
Growth Rate
8.6%
Global Concierge Medicine Market ($ Bn)
Country Share for North America Region (%)
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Concierge Medicine Market Segmental Analysis
Global Concierge Medicine Market is segmented into Specialty, Ownership, and region. By Specialty, the market is classified into Primary Care, Pediatrics, Osteopathy, Internal Medicine, Cardiology, Psychiatry, and Others. Based on Ownership, the market is segmented into Standalone, and Group. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Ownership
The group segment is estimated to account for 63.7% of the market in 2024. By operating as a group, concierge medical practices gained significant benefits of scale by combining products and services across different areas. Group practices able to offer great products and negotiate the best price for medical equipment and supplies. Central business functions such as billing, human resources, and marketing can also be used to reduce costs per patient. Working under one common name and policy enables group-owned practices to standardize treatment protocols and ensure consistent quality care across all facilities. This consistent practice builds patient confidence and transfers more work to other group settings. Group ownership also facilitates expansion into new areas with established plans to build new hospitals. Access to capital on a large scale allows teams to invest heavily in technology and state-of-the-art facilities.
Standalone is the fastest growing segment in the market. The standalone segment in the concierge medicine market refers to independent gateways that operate outside of the larger network or healthcare system. These practices typically have individual physicians or small groups of independent healthcare services is highly available to patients directly, usually in exchange for an annual or monthly retainer fee. Independent concierge practices prioritize building strong one-to-one relationships between physicians and patients. This allows physicians to provide more personalized care, consult longer, and be more flexible in addressing each patient’s specific health concerns. In this model, patients receive more time and attention from their physicians, leading to higher patient satisfaction and better health outcomes.
Analysis by ApplicationThe primary care segment is expected to account for 38.1% of the market share in 2024. As the first point of contact, primary care continues to focus on preventive health care, treatment of minor illnesses and condition managing chronic conditions. This makes concierge medicine well suited for individualized care. He covers a wide range of medical topics related to pediatrics, geriatrics, women’s health, and chronic disease management. Promoting long-term doctor-patient relationships in primary care helps address behavioral and lifestyle factors that affect health. This comprehensive focus on health and well-being leads to greater patient loyalty in primary care than in other specialist practices.
The pediatrics segment plays an important role in providing highly personalized, preventative and family-oriented healthcare services to children. As more parents seek customized care for their children, the pediatric concierge model is gaining momentum due to its ability to provide responsive, comprehensive services that go beyond traditional childcare no for the reason. This category appeals to families who prioritize high-quality care, direct access to a physician, and a proactive approach to their children’s health care. A defining feature of pediatrics is the emphasis on individualized preventive care. In this model, pediatricians spend more time with each child, performing comprehensive health assessments, growth assessments, and intervening early for potential health issues. While fewer patients and with each physician, foster children are enabled to develop deeper relationships with families, including through various advocacy programs, dietary guidelines and psychologically.
Global Concierge Medicine Market By Application (%)
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Concierge Medicine Market Regional Insights
North America dominates the concierge medicine market, mainly due to well-established healthcare infrastructure and high healthcare costs particularly lead by a significant number of gatekeeping practices that involve affluent individuals seeking personalized care. Increasing demand for primary healthcare and increasing incidence of chronic diseases are driving the market growth in this region in addition to strong presence of leading concierge services and awareness of personalized healthcare an increasingly contributing to North America’s lead.
Asia-Pacific is emerging as a high growth market for concierge medicine due to growing middle class, increasing health literacy and rising demand for luxury healthcare services. Countries like China, Japan and India see it increased adoption of gateway medicine, driven by regional economic growth and chronic health conditions and improvements in healthcare infrastructure are expected to propel the expansion of concierge services. In the coming years, particularly among affluent patients and expatriates seeking high-quality, personalized care.
Global Concierge Medicine Market By Geography
- Largest
- Fastest
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Concierge Medicine Market Dynamics
Drivers
Growing Demand for Personalized Healthcare
- A key driver of the concierge medicine market is the increasing demand for personalized healthcare for patients. Patients prefer direct and inclusive medical care more self-contained concierge medicine, which provides better doctor-patient relationships, longer conversations and quality health care because patients are less dissatisfied with traditional healthcare options, such as long waiting times and inaccessibility to doctors.
Increase in Chronic Diseases and Elderly Population
- The increasing prevalence of chronic diseases, especially among the elderly population, is another important driver of the market. As more individuals seek ongoing and personalized healthcare, the gateway model is growing in popularity. Older patients, who often require ongoing medical care, are choosing concierge services, allowing for continuity of care and more convenient access to health care. This demographic shift is helping to drive them to expand gatekeeping worldwide.
Restraints
High Cost of Concierge Medicine
- Despite its popularity, one of the major barriers in the concierge medicine market is its high price. These services typically require patients to pay an annual or monthly retention fee, which may be prohibitive for middle-income individuals or areas with limited health care resources. Gateway provisions medical care is inaccessible to younger, wealthier patients.
Limited Insight and Illusion
- Another important challenge is the lack of knowledge and misconceptions about gate management. Many patients are unaware of the benefits of concierge healthcare and view it as a luxury exclusive service. In addition, there is confusion about the difference between gateway medicine and traditional health care. This lack of knowledge, coupled with misconceptions, has slowed the rate of adoption of these services, especially in less developed markets.
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Concierge Medicine Market Competitive Landscape
The concierge medicine market is a niche and competitive environment, with a mix of large networks, independent retailers, and emerging telehealth companies. Competition comes from factors such as the personalized care, innovative service delivery supply, technology integration and the affordability. As the demand for patient-centered healthcare continues to grow, companies are expanding their services to cater to broader demographics, while also leveraging the advanced digital tools to provide the independent patient access.
Top Player’s Company Profiles
- Celestica Inc.
- Cenogenics Corporation
- Cone Bioproducts
- Fujirebio
- Jabil Inc.
- Kimball Electronics, Inc.
- KMC Systems
- Nemera
- Nolato GW, Inc.
- Partner MD
- Signature MD
- Specialdocs Consultants
- One Medical
- Cambell Family Medicine
- HealthLynked
- PinnacleCare
- VIPcare
- Access Health Care Physicians
- Diamond Physicians
- Crossover Health
Recent Developments
- In March 2023, HealthLinked, a provider of digital healthcare solutions, launched its new online gateway for doctor appointments.
- In September 2022, Cigna introduced a new concierge-services platform called Pathwell. This new platform combines Evernorth's data analytics, clinical expertise, and digital solutions with Cigna's health plan medical benefits and web portal. The primary goal is to provide members dealing with a variety of costly conditions. Initially, Pathwell were focus on patients with musculoskeletal disorders and patients who require injectable or injectable medications.
- In July 2023, Specialdocs Consultants, LLC announced that it has partnered with 10 physicians to launch their unique personal care practices nationwide. Due to increased demand for concierge medicine, the partnership forced Specialdocs Consultants to position strength.
- In February 2022, Castle Connolly Private Health Partners (CCPHP) announced the launch of the Banner Beyond program in partnership with Banner Health. This program was providing a convenient and convenient member experience in a state-of-the-art concierge environment.
Concierge Medicine Key Market Trends
- Extension of the Hybrid Model: A key trend in the concierge medicine market is the rise of hybrid medicine, where healthcare providers combine traditional insurance-based services with gatekeeper products. These hybrid models provide benefits for patients from both personalized care from concierge and full coverage from traditional insurance. This model is particularly attractive in settings where the high cost of comprehensive concierge services is a deterrent, enabling the increased acceptability while maintaining elements of high-quality care.
- Increased Telemedicine Integration: With advances in telehealth, concierge providers are increasingly integrating telemedicine into their service offerings. The integration of virtual consultation, remote monitoring and digital health tools makes concierge services easier and more convenient, allowing doctors to provide care around the clock. This trend is especially important in post-pandemic healthcare, were wide adoption and use of telehealth solutions.
Concierge Medicine Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the concierge medicine market is growing rapidly due to increasing demand for personalized healthcare, especially increasing incidence of chronic diseases among older people but the market faces challenges due to rising cost of services. Key trends such as the rise of hybrid concierge models and the integration of telemedicine are reshaping the landscape, making these services more attractive and accessible to a wider audience. As the market evolves, products innovation in the service delivery and pricing strategy will be critical in expanding the reach of concierge medicine worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.20 billion |
| Market size value in 2031 | USD 31.94 billion |
| Growth Rate | 8.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Concierge Medicine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Concierge Medicine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Concierge Medicine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Concierge Medicine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Concierge Medicine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Concierge Medicine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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