Concierge Medicine Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 23.73 Billion |
| Market Size (2029) | USD 37.18 Billion |
| CAGR (2024 - 2029) | 9.40 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Concierge Medicine Market Analysis
The Concierge Medicine Market size is estimated at USD 23.73 billion in 2024, and is expected to reach USD 37.18 billion by 2029, growing at a CAGR of 9.40% during the forecast period (2024-2029).
As the pandemic hit, concierge doctors observed a spike in demand for memberships and their telemedicine system. With Covid testing and Covid-specialized medical care (concierge-medicine style) and discreet access to top medical facilities, concierge medicine pushed the field's speed, efficiency, and care into the pandemic era. During the pandemic, concierge medicine flourished and permeated public healthcare as patients grew weary of leaving their homes and waiting in waiting rooms. Besides, several concierge medicine service providers began providing COVID-19 testing and management consultations.
For instance, in July 2021, Concierge Medical, a home-visiting general practice, was granted accreditation to conduct COVID-19 testing. Hence, concierge medicine observed a considerable demand during the pandemic, and the trend is expected to continue during the forecast period owing to the rising demand for personalized healthcare services.
Physicians' increasing adoption of concierge medicine to provide patients with improved outcomes, enhanced well-being, and a personalized patient experience is also projected to augment the market growth. For instance, an article published in July 2021 in the British Medical Journal indicated a growing interest in global personalization and customization (i.e., personalized medicine and patient-centered care).
In concierge medicine, patients get same-day appointments, and physicians have more time to focus on preventive, customized care. Therefore, the demand for a complete form of care due to its advantages for patients is creating growth opportunities for healthcare providers to expand concierge medicine.
Furthermore, the rising strategic initiatives by market players, such as launches, collaborations, and partnerships to expand the concierge medicine market, are expected to boost market growth. For instance, in December 2022, Cardio Diagnostics Holdings Inc., a precision cardiovascular diagnostics company, partnered with Houston Concierge Medicine to utilize Cardio Diagnostics' Epi+Gen CHD test for screening purposes.
This comprehensive test combines epigenetics, genetics, high-throughput computing, and artificial intelligence (AI) to accurately identify individuals at risk for coronary heart disease. The Epi+Gen CHD test was made available to patients of Houston Concierge Medicine as an integral component of their Executive Health Program.
Therefore, owing to the factors such as rising demand for concierge medicines and personalized healthcare, the studied market is expected to grow during the forecast period. However, the lack of health insurance coverage is expected to restrain the market growth.
Concierge Medicine Market Trends
Primary Care Segment is Expected to Witness Healthy Growth Over The Forecast Period
- Primary care includes preventive care, routine check-ups, screenings, vaccinations, diagnosis and treatment of common illnesses, management of chronic conditions, and coordination of specialized care.
- However, in concierge medicine, primary care services are enhanced and differentiated from traditional primary care in several ways. Primary care physicians (PCPs) or general practitioners schedule longer appointments, allowing for more in-depth discussions with patients, thorough examinations, and a comprehensive understanding of their health concerns.
- The segment is expected to grow due to the expansion and increasing adoption of primary care concierge medicine services. For instance, in December 2022, Tampa General Hospital (TGH) launched a concierge primary health care practice on Florida's East Coast to expand the Palm Beach County and Treasure Coast communities to world-class care.
- Also, in October 2021, Specialdocs partnered with Internist Maryann Shea, MD, to launch a concierge medicine offering at Boston-area Wellesley Primary Care Medicine (WPCM) to meet the rising patient demand for personalized care. Patients can benefit from same-day appointments when ill, in-depth visits without waiting, and personally customized plans for long-term wellness.
- Furthermore, as per World Health Organization (WHO), 2021, scaling up primary health care (PHC) interventions in low and middle-income countries could save 60 million lives and boost average life expectancy by 3.7 years by 2030. Also, per the same source, to fulfill the targets for PHC, an investment of around USD 200 - USD 370 billion per year for a more comprehensive package of health services is required. Such initiatives and investments are expected to augment the segment's growth during the forecast period.
- Therefore, owing to the expansion of personalized primary care services and an emerging need to scale up primary care solutions, the segment is expected to grow during the forecast period.
North America is Expected to Hold a Significant Market Share Over The Forecast Period
- North America is expected to witness significant growth during the forecast period owing to the high presence of market players as well as strategic initiatives undertaken by them, and the growing adoption of concierge medicine. In addition, the digitization and adoption of telehealth services in the United States and Canada are also significant drivers for the studied market growth.
- According to an October 2022 press release by Specialdocs Consultants, concierge medicine practices are experiencing high demand among physicians specializing in significant subspecialties. Many physicians have reported experiencing professional and personal satisfaction after transitioning to the concierge medicine model.
- In March 2023, Concierge Choice Physicians (CCP), a full-service concierge medical service provider in the United States, welcomed an endocrinologist from the Endocrine Associates of Dallas to their Hybrid Choice program. This program offers enhanced services that provide patients with more time and support to help them achieve their health goals.
- Furthermore, the market is witnessing an increase in launches and partnerships by various players to expand concierge medicine services for different diseases, contributing to the overall market growth. For example, in September 2022, Concierge Medical Consultants Inc., a subsidiary of ScreenPro Security Inc., introduced personalized home care services in the Greater Toronto Area. This innovative healthcare solution is tailored for seniors or individuals in need of at-home care. The company also has plans to expand its services to Vancouver in the coming year. Such launches are expected to further accelerate the growth of the concierge medicine market.
- Therefore, owing to the factors such as the rising demand for concierge medicine practice and growing adoption of personalized healthcare, along with the high presence of market players engaged in launches of concierge medicine solutions, the studied market is projected to witness growth during the forecast period.
Concierge Medicine Industry Overview
The concierge medicine market is moderately competitive in nature due to the presence of some global and regional market players. The market players have engaged in investments and expansions of their concierge services to strengthen their market position. Some key market players are PartnerMD, MDVIP, Crossover Health, Concierge COnsultants & Cardiology, and Signature MD.
Concierge Medicine Market Leaders
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PartnerMD
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MDVIP
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Crossover Health
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CONCIERGE CONSULTANTS & CARDIOLOGY
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Signature MD
*Disclaimer: Major Players sorted in no particular order
Concierge Medicine Market News
- March 2023: HealthLynked, a provider of digital healthcare solutions, launched its new online concierge service for physician appointment bookings.
- September 2022: Cigna introduced a new concierge care platform known as Pathwell. This innovative platform integrates Evernorth's data analytics, clinical expertise, and digital solutions with the medical benefits and network of Cigna's health plan. The primary goal is to deliver a personalized and all-encompassing care experience to members who are dealing with high-cost conditions. Initially, Pathwell will focus on patients with musculoskeletal conditions as well as those who require injectable or infused biological drugs.
Concierge Medicine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Adoption of Concierge Medicine
- 4.2.2 Rising Demand For Personalized Healthcare Services
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4.3 Market Restraints
- 4.3.1 Lack of Health Insurance Coverage
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Application
- 5.1.1 Primary Care
- 5.1.2 Cardiology
- 5.1.3 Internal Care
- 5.1.4 Pediatrics
- 5.1.5 Other Applications
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5.2 By Ownership
- 5.2.1 Group
- 5.2.2 Standalone
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia Pacific
- 5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 PartnerMD
- 6.1.2 MDVIP
- 6.1.3 Crossover Health
- 6.1.4 CONCIERGE CONSULTANTS & CARDIOLOGY
- 6.1.5 Signature MD
- 6.1.6 Peninsula Doctor
- 6.1.7 Concierge Choice Physicians (CCP)
- 6.1.8 Castle Connolly Private Health Partners
- 6.1.9 Specialdocs Consultants, LLC.
- 6.1.10 U.S. San Diego Health
- 6.1.11 HealthLynked
- 6.1.12 Texas Medical Concierge
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityConcierge Medicine Industry Segmentation
Concierge medicine is also known as boutique medicine, retainer-based medicine, platinum practice, and direct primary care. It is a form of membership-based healthcare that combines convenient accessibility with personalized treatment.
The concierge medicine market is segmented by application (primary care, cardiology, internal care, pediatrics, and other applications), ownership (group and standalone), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally.
The report offers the value (in USD million) for the above segments.
| By Application | Primary Care | |
| Cardiology | ||
| Internal Care | ||
| Pediatrics | ||
| Other Applications | ||
| By Ownership | Group | |
| Standalone | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia Pacific | ||
| Geography | Rest of the World |
Concierge Medicine Market Research Faqs
How big is the Concierge Medicine Market?
The Concierge Medicine Market size is expected to reach USD 23.73 billion in 2024 and grow at a CAGR of 9.40% to reach USD 37.18 billion by 2029.
What is the current Concierge Medicine Market size?
In 2024, the Concierge Medicine Market size is expected to reach USD 23.73 billion.
Who are the key players in Concierge Medicine Market?
PartnerMD, MDVIP, Crossover Health, CONCIERGE CONSULTANTS & CARDIOLOGY and Signature MD are the major companies operating in the Concierge Medicine Market.
Which is the fastest growing region in Concierge Medicine Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Concierge Medicine Market?
In 2024, the Europe accounts for the largest market share in Concierge Medicine Market.
What years does this Concierge Medicine Market cover, and what was the market size in 2023?
In 2023, the Concierge Medicine Market size was estimated at USD 21.50 billion. The report covers the Concierge Medicine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Concierge Medicine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Concierge Medicine Industry Report
The Concierge Medicine Market is segmented by application, ownership, and geography. This industry analysis covers primary care, cardiology, internal care, pediatrics, and other applications. The market size and market share are crucial elements in understanding the market trends. The industry report offers insights into the largest companies and provides a comprehensive industry overview. Market analysis and market forecast are essential for predicting future market growth. The market report includes detailed market research and highlights the market leaders.
The industry outlook and industry trends indicate that concierge medicine is growing in popularity across various regions, including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Industry statistics and market data support the market predictions and market review. The market segmentation by ownership includes both group and standalone practices. The report example and report PDF provide a detailed view of the market value and market segmentation.
Industry information and industry research are fundamental for understanding the industry's growth rate and market outlook. The industry sales and industry size are also important metrics. The market forecast and market overview help in understanding the market dynamics. Research companies play a significant role in providing market insights and data. The industry reports and market review are valuable resources for stakeholders.
In summary, the concierge medicine market is poised for significant growth, with detailed industry analysis and market data supporting the positive market outlook. The industry research and industry statistics provide a comprehensive view of the market trends and market value. The report PDF serves as a valuable resource for understanding the market segmentation and market predictions.
