Dublin, Dec. 10, 2024 (GLOBE NEWSWIRE) -- The "Concierge Medicine Market 2024" report has been added to ResearchAndMarkets.com's offering.
The concierge medicine market size has grown rapidly in recent years. It will grow from $18.38 billion in 2023 to $20.43 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to several factors including the increasing demand for personalized healthcare, physician burnout, rising healthcare costs, a shift in consumer preferences, and the implementation of corporate wellness initiatives. 
The concierge medicine market size is expected to see rapid growth in the next few years. It will grow to $31.39 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to several factors including the integration of alternative therapies, urbanization, lifestyle changes, healthcare disparities, regulatory changes, and the increasing health consciousness among millennials. Major trends expected in this period include the adoption of virtual concierge services, the development of collaborative care networks, technological advancements, the utilization of artificial intelligence, and the implementation of predictive analytics.
The growth of the concierge medicine market is anticipated to be driven by the increasing healthcare expenditure. For instance, according to the Canadian Institute for Health Information (CIHI), total health expenditure in Canada reached $329 billion in 2021, marking a $23 billion increase compared to 2020. Thus, the escalating healthcare expenditure is fueling the growth of the concierge medicine market.
Leading companies in the concierge medicine market are offering services with comprehensive features, including an online medical directory, to improve patient access to personalized and immediate healthcare services. For example, HealthLynked Corporation, a US-based healthcare services provider, launched an online concierge service in March 2023. This service allows patients to book appointments with doctors nationwide through an extensive online directory featuring over 880,000 healthcare providers. It streamlines appointment bookings by offering specific time slots and facilitates requests for unclaimed provider listings. Patients can also update their medical records using the HealthLynked app, with assistance available from concierge nurse staff.
In February 2023, Amazon Inc., a US-based technology company specializing in e-commerce, acquired One Medical for $3.9 billion. This acquisition aimed to bolster Amazon's healthcare offerings, providing convenient access to medical services for its employees. One Medical, a US-based company operating in concierge medicine, offers a membership-based primary care practice tailored around patients' needs.
Europe was the largest region in the concierge medicine market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the concierge medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the concierge medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
1) By Ownership: Group; Standalone
2) By Application: Cardiology; Primary Care; Psychiatry; Pediatrics; Osteopathy; Neurology; Other Applications
3) By End User: Individual; Corporate Organization
Key Companies Profiled: Duke Health; Privia Health Group Inc.; One Medical Group Inc.; Crossover Health; MedScape
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $20.43 Billion |
| Forecasted Market Value (USD) by 2028 | $31.39 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | Global |
Companies Featured in this Concierge Medicine Market Report
- Duke Health
- Privia Health Group Inc.
- One Medical Group Inc.
- Crossover Health
- MedScape
- MDVIP LLC
- Sollis Health
- Medix global
- PinnacleCare
- PartnerMD LLC
- Paragon Private Health
- SignatureMD
- Castle Connolly Private Health Partners LLC
- Concierge Choice Physicians
- EliteHealth
- Specialdocs Consultants LLC
- Access Healthcare Direct
- Dedication Health
- Plus Humain
- Diamond Physicians
- Atlas MD
- Red Carpet Concierge Medicine
- HealthPulse Concierge Medicine
- Lake Oconee Concierge Medicine
- NOVA Concierge Medicine & Aesthetics
For more information about this report visit https://www.researchandmarkets.com/r/72vmkz
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