Concierge Medicine Market in US to grow by USD 2,310.34 million from 2022 to 2027; Growing geriatric population boosts the market - Technavio

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The US concierge medicine market size is set to grow by USD 2,310.34 million between 2022 and 2027 and register an accelerating CAGR of 6.72%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The report also covers the following areas:

• Concierge Medicine Market in US size
• Concierge Medicine Market in US trends
• Concierge Medicine Market in US industry analysis

Concierge Medicine Market in the US 2023-2027: Segmentation

The concierge medicine market in the US is segmented as follows:

• Application 
• Primary Care
• Pediatrics
• Cardiology
• Internal Medicine
• Other
• Ownership
• Group
• Standalone

The market share growth by the primary care segment in the US is significant during the forecast period. Primary care can be referred to as routine medical care offered by a healthcare provider. This healthcare provider plays a major role in the healthcare sector as they essentially serve as the first and primary point of contact for the ongoing care of the patient within the healthcare system, coordinating any additional specialized care the patient may require. The main advantage of concierge care is that patients are able to access a primary care physician at any time of the day or night via a visit or phone call. The geographic expansion of concierge medicine institutes providing primary care is expected to fuel the growth of this segment which in turn will drive the market growth.

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Concierge Medicine Market in US 2023-2027: Vendor Analysis and Scope

The market is concentrated, and the degree of concentration will accelerate during the forecast period. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ companies operating in the market. Some of the key companies of the concierge medicine market in the US include Cambell Family Medicine, Concierge Consultants and Cardiology, Crossover Health, Destination Health, MDVIP, PartnerMD, Peninsula Doctor, Priority Physicians Inc., Signature MD, and Specialdocs Consultants LLC. 

Company Offerings

• Cambell Family Medicine: The company offers concierge medicine solutions such as unconventional delivery and direct medical care.
• Crossover Health: The company offers concierge medicine solutions such as membership of a single doctor.
• Destination Health: The company offers concierge medicine solutions such as personal physicians.

Concierge Medicine Market in the US 2023-2027: Market Dynamics

Key Driver

The rising geriatric population drives the market growth during the forecast period. There is an increasing health concern across the world due to the lack of physical activity and improper diet, resulting in serious medical problems. Additionally, there is an increasing prevalence of diseases such as lung disease, cancer, and stroke among the geriatric population. One of the main reasons for these diseases in the geriatric population is the deterioration of the immune system with age. Additionally, the reduced functioning of organs can result in diseases including chronic liver disease, chronic kidney disease, hypertension, and diabetes. Additionally, the increase in the aging population has resulted in an escalation in healthcare, disease diagnosis, and treatment expenses. Hence, such factors are expected to drive market growth during the forecast period.

Major Trends

The rising demand for personalized medicine is a primary trend in the U.S. concierge medicine market during the forecast period. One of the emerging trends in the market is personalized medicine practices where an individual's genetic profile is used to make decisions about disease prevention, diagnosis, and treatment. Several concierges health organizations are launching personalized medicine in order to raise awareness among patients. The main advantage of the concierge doctor's office model, it accommodates smaller patient groups, enabling providers to spend increased time with the patient. Thus, the doctors are able to perform a comprehensive medical evaluation and design a customized, proactive health improvement plan and treatment approach for the patient. Hence such factors are expected to drive the market growth during the forecast period.

Significant Challenge

The limited insurance cooperation is a major challenge that can hinder the U.S. concierge medicine market growth during the forecast period. There are several commercial plans and government programs, including Medicare Part B, are accepted by the majority of concierge medical institutions such as Coastal Concierge Internal Medicine. But, each business has different uniqueness, services, and membership fees. Additionally, insurance is crucial in case of emergency situations but out-of-network benefits and deductibles differ by various insurance plans. Hence such factors can negatively impact the market growth which in turn can hinder the market growth during the forecast period.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Concierge Medicine Market in the US 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist US Concierge Medicine Market growth during the next five years
• Estimation of the US Concierge Medicine Market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the concierge medicine market across the US
• Analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of US Concierge Medicine Market market players.

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Ownership
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Concierge medicine market in US 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on concierge medicine market in US 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Ownership Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Ownership Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 25: Chart on Application - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 27: Chart on Comparison by Application
• Exhibit 28: Data Table on Comparison by Application

• 6.3 Primary care - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Primary care - Market size and forecast 2022-2027 ($ million)
• Exhibit 30: Data Table on Primary care - Market size and forecast 2022-2027 ($ million)
• Exhibit 31: Chart on Primary care - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Primary care - Year-over-year growth 2022-2027 (%)

• 6.4 Pediatrics - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Pediatrics - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Pediatrics - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Pediatrics - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Pediatrics - Year-over-year growth 2022-2027 (%)

• 6.5 Cardiology - Market size and forecast 2022-2027 
• Exhibit 37: Chart on Cardiology - Market size and forecast 2022-2027 ($ million)
• Exhibit 38: Data Table on Cardiology - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Chart on Cardiology - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Cardiology - Year-over-year growth 2022-2027 (%)

• 6.6 Internal medicine - Market size and forecast 2022-2027 
• Exhibit 41: Chart on Internal medicine - Market size and forecast 2022-2027 ($ million)
• Exhibit 42: Data Table on Internal medicine - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Chart on Internal medicine - Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Internal medicine - Year-over-year growth 2022-2027 (%)

• 6.7 Other - Market size and forecast 2022-2027 
• Exhibit 45: Chart on Other - Market size and forecast 2022-2027 ($ million)
• Exhibit 46: Data Table on Other - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Chart on Other - Year-over-year growth 2022-2027 (%)
• Exhibit 48: Data Table on Other - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Application 
• Exhibit 49: Market opportunity by Application ($ million)
• Exhibit 50: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Ownership

• 7.1 Market segments
• Exhibit 51: Chart on Ownership - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Ownership - Market share 2022-2027 (%)

• 7.2 Comparison by Ownership 
• Exhibit 53: Chart on Comparison by Ownership
• Exhibit 54: Data Table on Comparison by Ownership

• 7.3 Group - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Group - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Group - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Group - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Group - Year-over-year growth 2022-2027 (%)

• 7.4 Standalone - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Standalone - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Standalone - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Standalone - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Standalone - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Ownership 
• Exhibit 63: Market opportunity by Ownership ($ million)
• Exhibit 64: Data Table on Market opportunity by Ownership ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 65: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 66: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 67: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 68: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 69: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 70: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 71: Matrix on vendor position and classification

• 11.3 Cambell Family Medicine 
• Exhibit 72: Cambell Family Medicine - Overview
• Exhibit 73: Cambell Family Medicine - Product / Service
• Exhibit 74: Cambell Family Medicine - Key offerings

• 11.4 Concierge Consultants and Cardiology 
• Exhibit 75: Concierge Consultants and Cardiology - Overview
• Exhibit 76: Concierge Consultants and Cardiology - Product / Service
• Exhibit 77: Concierge Consultants and Cardiology - Key offerings

• 11.5 Crossover Health
• Exhibit 78: Crossover Health - Overview
• Exhibit 79: Crossover Health - Product / Service
• Exhibit 80: Crossover Health - Key offerings

• 11.6 Destination Health
• Exhibit 81: Destination Health - Overview
• Exhibit 82: Destination Health - Product / Service
• Exhibit 83: Destination Health - Key offerings

• 11.7 MDVIP
• Exhibit 84: MDVIP - Overview
• Exhibit 85: MDVIP - Product / Service
• Exhibit 86: MDVIP - Key offerings

• 11.8 PartnerMD
• Exhibit 87: PartnerMD - Overview
• Exhibit 88: PartnerMD - Product / Service
• Exhibit 89: PartnerMD - Key offerings

• 11.9 Peninsula Doctor
• Exhibit 90: Peninsula Doctor - Overview
• Exhibit 91: Peninsula Doctor - Product / Service
• Exhibit 92: Peninsula Doctor - Key offerings

• 11.10 Priority Physicians Inc. 
• Exhibit 93: Priority Physicians Inc. - Overview
• Exhibit 94: Priority Physicians Inc. - Product / Service
• Exhibit 95: Priority Physicians Inc. - Key offerings

• 11.11 Signature MD
• Exhibit 96: Signature MD - Overview
• Exhibit 97: Signature MD - Product / Service
• Exhibit 98: Signature MD - Key offerings

• 11.12 Specialdocs Consultants LLC 
• Exhibit 99: Specialdocs Consultants LLC - Overview
• Exhibit 100: Specialdocs Consultants LLC - Product / Service
• Exhibit 101: Specialdocs Consultants LLC - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 102: Inclusions checklist
• Exhibit 103: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 104: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 105: Research methodology
• Exhibit 106: Validation techniques employed for market sizing
• Exhibit 107: Information sources

• 12.5 List of abbreviations 
• Exhibit 108: List of abbreviations

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