U.S. Concierge Medicine Market Revenue to Attain USD 11.01 Bn by 2033

05 Dec 2024

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Table of Content

1. U.S. Concierge Medicine Market Revenue and Trends 2023 to 2033 2. Market Overview 3. Report Highlights of the U.S. Concierge Medicine Market 4. U.S. Concierge Medicine Market Trends 5. U.S. Concierge Medicine Market Coverage 6. Market News

U.S. Concierge Medicine Market Revenue and Trends 2023 to 2033

The U.S. concierge medicine market revenue reached USD 6.14 billion in 2024 and is predicted to attain around USD 11.01 billion by 2033 with a CAGR of 6.88% during the forecast period. The market is driven by the rising prevalence of chronic diseases, physician shortages, and the demand for personalized medicines and treatments.

Market Overview

Concierge medicine or retainer medicine is also referred to as a personalized healthcare model in which a patient pays annually or monthly to access improved medical services and personalized care from primary care physicians. It is an alternative to the traditional fee-for-service or insurance-based healthcare system and provides a direct relationship between physicians and patients. The market is experiencing significant growth due to the rapid shift of physicians from traditional primary care practices to concierge medical practices, along with the increased demand for personalized, convenient, and accessible healthcare services. Moreover, the increasing awareness among patients about the benefits of personalized healthcare and rising disposable income contribute to the growth of the market.

The growing geriatric population, rising demand for primary care services, and increasing demand for better healthcare services, along with the rising interest of the millennials in the concierge approach, are expected to boost the growth of the U.S. concierge medicine market in the coming years. Concierge medicine provides quick access to healthcare services, such as same-day or next-day appointments, and enables patients to receive customized healthcare plans. Through concierge approach, members receive various benefits, including direct communication with physicians and a customized approach to care, thereby enhancing patient satisfaction. Many corporate wellness programs also incorporate concierge medicine services for employees to enhance their experience.

Implementing advanced technologies, such as telemedicine services, mobile apps, and electronic health records, in concierge practices enables remote consultation and enhances communication between patients and physicians. This further enhances the effectiveness of healthcare delivery, which contributes to the market's growth.

• For instance, according to a published report, follow-up appointments were the primary application of telemedicine use in the U.S. in 2023, with almost half of the respondents having this type of health care virtually. More than 30% of patients surveyed use telemedicine for regular check-ups, medication management, refills, and mental health appointments.

Report Highlights of the U.S. Concierge Medicine Market

On the basis of application, the primary care segment accounted for the largest share of the market in 2023. This is mainly due to the rise in demand for concierge primary care approaches and the growing awareness about preventive care. This approach provides patients with 24/7 accessibility to their primary care physicians, ensuring timely and convenient healthcare support. Moreover, many patients are shifting toward membership-based care, thus contributing to segmental growth.

• Based on ownership, the group segment dominated the market in 2023 as this ownership covers multiple family members. This ownership offers a wide range of healthcare services, thereby enhancing patient care and satisfaction.

U.S. Concierge Medicine Market Trends

Rising Prevalence of Diseases

The rising prevalence of diseases, especially chronic diseases like diabetes that require ongoing management and personalized care, is expected to drive the market. Diabetic patients require regular checkups to monitor blood sugar levels. However, concierge medicine provides patients with personalized care and ensures that they receive proper guidance for managing their condition. Moreover, it also provides better care coordination between the healthcare specialist and the patient with complex health conditions.

• According to the World Health Organization (WHO), around 24.4 million people in the U.S. diagnosed with diabetes in 2022. Obesity is considered a major risk factor for type 2 diabetes and has become a significant issue in the country. In 2023, the prevalence of obesity among adults was 33%.

Increasing Demand for Personalized Medicines

Personalized medicines cater to an individual genetic makeup for disease prevention, diagnosis, and treatment. This helps the healthcare providers invest more time in each patient, leading to customized, proactive health improvement plans. Personalized health screening and ongoing monitoring help with precise treatment plans, better health outcomes, and increased patient satisfaction. Moreover, the rising demand for patient-centered care boosts the market.

Ongoing Health and Wellness Programs

Health and wellness programs emphasize medical care. The U.S. government also conducts and promotes wellness programs to address behavioral health problems. These programs help with physician-patient relationships, with a focus on patient satisfaction and more personalized healthcare treatment. Health and wellness programs offer a wide range of services, like fitness programs, nutrition counseling, and stress management. Concierge medicine providers also collaborate with several health and wellness programs that offer better services to patients according to their health needs.

U.S. Concierge Medicine Market Coverage

Market News

• In November 2024, UT Health San Antonio announced the launch of Concierge Medicine, directed by leading physicians David Cadena, MD, CCMS, FAAP, and Arlene Reyes, MD, from UT Health Hill Country. The new program provides a high level of patient-centered personalized primary care, focusing on convenience, continuity, and comprehensive health management.
• In November 2024, Concierge Choice Physicians (CCP), the leading full-service concierge medical service provider, announced that Dr. Margaret Greenough, a family medicine specialist in San Luis Obispo, CA, opened a new medical practice offering patients the Concierge Choice FullFlex program. This full-practice membership model allows physicians and patients to spend more time together in a comprehensive, nurturing environment conducive to good health and wellness.
• In October 2024, Sollis Health introduced a new family membership plan tailored to families with children under the age of 18. The plan offers a year of access for families to Sollis’ ER-boarded physicians and capabilities, virtually or in state-of-the-art medical centers in New York, Los Angeles, the Hamptons, South Florida, and San Francisco. This new plan also includes offerings such as premium allergen testing for children under 18, as anaphylactic emergencies, and offers access to unlimited appointments 24/7.
• In May 2024, SHL Telemedicine Ltd. launched its SmartHeart membership program in the U.S. with a mission to transform cardiac care accessibility and bring medical expertise directly into customers' homes, enhancing their ability to manage heart health proactively.

Market Segmentation

By Application

• Primary Care
• Cardiology
• Pediatrics
• Psychiatry
• Internal Care
• Others

By Ownership

• Independent
• Group

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