United States Concierge Medicine Market Report and Forecast 2024-2032

U.S. Concierge Medicine Market Outlook

The U.S. concierge medicine market size was valued at USD 6.4 billion in 2023, driven by the rising preference for personalised medical consultations across the globe. The market is expected to grow at a CAGR of 10.8% during the forecast period of 2024-2032, with the values likely to rise from USD 7.1 billion in 2024 to USD 16.1 billion by 2032.

U.S. Concierge Medicine: Introduction

Concierge medicine revolves around the relationship between a physician and a patient, under which the patient receives 24/7 personalized care from the physician. In return, they pay an annual, monthly, or weekly fee for the physician’s availability. It can be considered as a membership-based healthcare service. They can have access to services like same-day appointments and get a customized care plan from their physician.

U.S. Concierge Medicine Market Analysis

The median age of the entire United States population has reached at 38.9 years, increased by 0.2 years between 2021 and 2022. This indicates that the population is steadily aging and is likely to rise during the forecast period. Since affluent individuals seek personalized healthcare, the U.S. concierge medicine market demand is expected to rise in the upcoming years.

 
Owing to the rising demand, prominent tech companies have started entering the concierge medicine space for market expansion. Recently, Amazon declared their acquisition of One Medical, a company that has been offering on-site labs, 24/7 virtual care services, and initiatives for preventive care, common illnesses, chronic care management, and mental health related solutions to the people. This collaboration is aimed at offering better care experiences to the people and is anticipated to boost the U.S. concierge medicine market growth.

With the integration of technology into healthcare, the market has flooded with health apps and virtual care. In the wake of this, the patient messaging trend has increased multiple folds in recent years. Responding to patient messages has become an added responsibility for healthcare providers. This accelerated prevalence of patient messaging is expected to fuel the growth of concierge medicine services, as physicians will also want to opt out from traditional practices and get better compensations for their time.

U.S. Concierge Medicine Market Segmentation

Market Breakup by Specialty

• Primary Care

• Pediatrics

• Osteopathy

• Internal Medicine

• Cardiology

• Psychiatry

Market Breakup by Ownership

• Standalone

• Group

U.S. Concierge Medicine Market Overview

Increased healthcare consumerism is a pivotal trend reshaping the U.S. concierge medicine market value as it continues transform patients into active decision-makers. With the fast-paced lifestyles, today, the patients seek unhurried appointments, quick access to healthcare professionals, and transparent, value-based services. Such demands align with concierge medicine models.

To streamline easy access and adoption of concierge medicine services, there have been several changes in the insurance models and payment structures, contributing to the U.S. concierge medicine market share. Several options like membership-based models, retainer fees or pay-as-you-go models have been made available to the patients for their convenience. The flexibility is aimed at catering to a wider section of the population, coming from diverse financial backgrounds.

U.S. Concierge Medicine Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• MDVIP

• Signature MD

• Crossover Health

• Specialdocs Consultants, LLC

• PartnerMD

• Concierge Consultants & Cardiology

• Castle Connolly Private Health Partners

• Peninsula Doctor

• Cambell Family Medicine

• Destination Health

Key Highlights of the Report