U.S. Concierge Medicine Market Anticipated To Accelerate The Growth By 2030

U.S. Concierge Medicine Market

The U.S. concierge medicine market size was estimated at USD 6.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 10.37% from 2024 to 2030.

Concierge medical practice refers to a private form of practice where patients are charged an out-of-pocket retainer fee for accessing doctor’s services. This will include services such as office visits, round-the-clock access to physicians, lab tests, house calls, care while traveling, referrals to specialists, preventive care, regular health assessment, and others. Some advantages of concierge medicine are less waiting time, high compensation, and career satisfaction, which are expected to boost market growth. Furthermore, a growing geriatric population and increasing demand for healthcare services are anticipated to drive market growth.

Gather more insights about the market drivers, restrains and growth of the U.S. Concierge Medicine Market

High volume of people visiting hospitals daily, and a shortage of primary care physicians have increased the waiting time. Patients are required to wait for hours for their consultations in traditional care settings. According to the 2022 Survey of Physician Appointment Wait Times published by Merritt Hawkins, average waiting time was 26 days for a new patient to schedule an appointment with a physician in 15 major U.S. cities, with an 8% increase since 2017. In addition, due to the high patient load, physicians tend to spend less time with patients; however, this is not the case with concierge medicine. As concierge physicians limit the number of patients, they spend more time in each encounter to know the patient completely.

Concierge medicine promotes better patient-doctor relationships, which is crucial for fast recovery. It focuses more on preventive care, which can reduce the risk of serious chronic diseases. In addition, concierge doctors make themselves available for patients and coordinate care by making appointments with specialists on their behalf. Furthermore, the whole family can visit one doctor. These benefits offered by concierge medicine to patients are expected to boost the demand over the forecast period.

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