Press release
Increasing Healthcare Expenditure Is Fueling Expansion Of Concierge Medicine Market Driving Market Acceleration in the Concierge Medicine Industry, 2025
Concierge Medicine
How Large Will the Concierge Medicine Market Size By 2025?
In recent times, there has been a swift expansion in the size of the concierge medicine market. The market, which was valued at $20.43 billion in 2024, is expected to hit $22.59 billion in 2025, recording a compound annual growth rate (CAGR) of 10.6%. Factors contributing to the growth observed in the historic period include a surge in the need for tailored healthcare, physician burnout, escalating healthcare costs, a change in consumer inclination, and the introduction of corporate wellness programs.
How Big Is the Concierge Medicine Market Size Expected to Grow by 2029?
Rapid expansion is predicted for the concierge medicine market in the forthcoming years. The market size is projected to escalate to "$33.49 billion by 2029, marking a compound annual growth rate (CAGR) of 10.3%. The growth throughout the projected period can be credited to the amalgamation of alternative therapies, urban spread, changes in lifestyle, disparities in healthcare, amendments in regulations, and the rising health awareness among millennials. Crucial trends for the forecast period encompass virtual concierge services, collaborative healthcare networks, advances in technology, AI and predictive data analysis.
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Which Key Market Drivers Powering Concierge Medicine Market Expansion and Growth?
The upswing in healthcare spending is anticipated to stimulate the advancement of the concierge medicine market. The term 'healthcare expenditure' denotes the total resources deployed on healthcare-related products and services over a specific period, encompassing costs related to hospital care, physician's services, medications, among other health-related expenditures. The escalation in healthcare spending is attributed to progress in medical technology and the mounting incidence of chronic illnesses. Concierge medicine leverages these expenditures to offer bespoke, high-quality medical services, providing patients with improved access and customized care. For example, as per the Canadian Institute for Health Information (CIHI) - a non-profit entity based in Canada renowned for its health data collection and analysis - Canada's healthcare spending in November 2023 is forecasted to reach approximately $344 billion. This figure represents a rise of $9 billion (or around 2.8%) from the preceding year. Hence, the surge in healthcare expenditure is a crucial factor propelling the concierge medicine market's expansion.
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Which Emerging Trends Are Transforming the Concierge Medicine Market in 2025?
Top firms involved in the concierge medicine market are incorporating comprehensive features such as online medical directories in their services to improve patients' access to personalized and immediate health services. This digital platform compiles a database of healthcare professionals like doctors and specialists along with various clinics, enabling people to search for and access information regarding medical practitioners and their services. For example, in March 2023, HealthLynked Corporation, a healthcare firm from the US, inaugurated an online concierge service which enables patients to arrange doctor appointments across the country using its wide-ranging online directory, featuring more than 880,000 healthcare providers. The service simplifies appointment bookings by offering specific time slots and streamlining requests for unclaimed provider listings. Patients also have the option to update their medical records through the HealthLynked app, with support available from concierge nursing staff.
What Are the Emerging Segments in the Concierge Medicine Market?
The concierge medicine market covered in this report is segmented -
1) By Ownership: Group, Standalone
2) By Application: Cardiology, Primary Care, Psychiatry, Pediatrics, Osteopathy, Neurology, Other Applications
3) By End User: Individual, Corporate Organization
Subsegments:
1) By Group: Multi-Physician Concierge Practices, Physician Networks And Associations
2) By Standalone: Independent Concierge Practices, Single-Physician Concierge Practices
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Who Are the Global Leaders in the Concierge Medicine Market?
Major companies operating in the concierge medicine market are 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
Which are the Top Profitable Regional Markets for the Concierge Medicine Industry?
Europe was the largest region in the concierge medicine market in 2024. 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.
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