US Primary Care Physicians Market Size 2024-2028

The US Primary care physicians Market size is estimated to grow by USD 45.3 billion at a CAGR of 3.2% between 2023 and 2028. The market experiences growth due to demographic shifts and an aging population, coupled with healthcare access improvements and reform efforts. Increasing chronic disease prevalence further propels market expansion. However, challenges such as physician shortages in primary care and high administrative burdens pose obstacles. Additionally, reimbursement issues in the primary care physicians market may hinder growth. These challenges reflect the complex landscape of healthcare delivery, where ensuring adequate access to primary care remains paramount. Stakeholders must navigate through regulatory frameworks and invest in innovative solutions to address physician shortages and streamline administrative processes. As the market continues to evolve, strategic investments in workforce development and reimbursement reform become vital for sustained growth and improved healthcare outcomes.

Demographic shifts and an aging population are indeed significant drivers for the market. Due to factors including increased life expectancy and the baby boomer generation reaching retirement age, the United States population is aging at a significant rate. Primary care physicians are more in demand as people get older since they often need more medical attention and care. The growing demand for healthcare services is directly influencing the demand and market for primary care physicians. The aging population also poses a barrier to access to healthcare services alongside demographic trends like urbanization and healthcare gaps in rural areas. Policies and programs are being set up to ensure the accessibility, efficiency, and effectiveness of primary care. These legislative changes present chances for primary care to advance and innovate. In general, age and demographic changes are key factors influencing the Market.

What will be the size of the US Primary care physicians Market During the Forecast Period?

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Market Segmentation by Age Group, Type, and Service Type

Age Group Analysis 

Infant

The market share growth by the Infants segment will be significant during the forecast period. Within the market, the infant age group constitutes a sizable portion. When it comes to delivering healthcare for newborns, kids, and teenagers, primary care doctors, including pediatricians and family practitioners, are essential. Primary care physicians regularly conduct well-baby and well-child exams for infants and young children.

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The infant segment was valued at USD 86.7 billion in 2018. The primary care physician market's infant age group is crucial since early healthcare treatments and preventive measures can significantly affect a child's health and well-being. Primary care physicians are a key component in the United States healthcare system since parents and caregivers have been relying on them to provide advice and health care for infants, which, in turn, will increase the growth rate of the market during the forecast period.

Type Analysis

General practice family doctors and geriatric specialists make up a sizable portion of the market. These medical specialists are essential in delivering thorough medical treatment to patients of all ages, especially the elderly. Family doctors are prepared to care for patients of all ages, from newborns to the elderly, and treat a variety of ailments. They regularly provide general health checks, vaccinations, medical exams, and treatment for both urgent and chronic diseases. In the market, especially those with a specialization in geriatrics, are becoming more and more scarce due to an aging population as well as the need for comprehensive healthcare services. These medical experts play a crucial role in helping older persons age healthily and manage chronic diseases, thereby enhancing their quality of life, which, in turn, will increase the growth rate of the market during the forecast period.

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Key US Primary Care Physicians Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Amazon.com Inc. - The company offers care physicians services such as chronic conditions, everyday care, and wellness and prevention.

• Apollo Asset Management Inc.
• Cedars Sinai Health System
• ChenMed LLC
• Colonial Healthcare
• Colorado Primary Health Care
• Crossover Health
• Duly Health and Care
• MDVIP
• New West Physicians
• Premier Medical Associates
• Privia Health Group Inc.
• Pure Family Medicine
• Rhode Island Primary Care Physicians Corp.
• The Cleveland Clinic Foundation
• The General Hospital Corp.
• The Nemours Foundation
• UCSF Health
• Trinity Health
• UnitedHealth Group Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

In the realm of healthcare, primary care providers play a pivotal role in managing a wide array of health concerns, from family medicine and internal medicine to pediatrics and geriatrics. They focus on addressing chronic conditions through preventive care and tailored primary care models such as direct primary care. Leveraging telehealth services and teleconsultation, they extend their reach to diverse populations, including Medicare beneficiaries and individuals in long-term care facilities. With a commitment to health promotion and patient counseling, primary care physicians operate in various settings, from medical clinics and point of care settings to hospitals and outpatient departments. Some may even offer personalized services like concierge services, adapting to the evolving needs of their patients and communities. As advocates for comprehensive care, they collaborate with specialists like obstetricians and gynecologists to ensure holistic health management across the lifespan. 

Significant Market Trends

Telehealth integration is a key trend in the market. In the market has undergone a significant shift towards telemedicine integration. Access to primary care has increased thanks to the incorporation of telehealth, especially for patients in remote or underserved locations. Patients do not need to travel or make in-person visits in order to get healthcare services.

Moreover, telehealth makes it simple and quick for patients to connect with primary care doctors, cutting down on waiting times and eliminating the need for transportation. Increased convenience has resulted in increased engagement and a greater sense of satisfaction among patients. Integration of telehealth lowers healthcare expenses for both patients and providers. The telehealth integration will drive the growth of the Market during the forecast period.

Major Market Challenges

Physician shortages are a major challenge faced by the market. The US has long struggled with a serious physician shortage in the primary care field. Due to a lack of physicians, especially for patients in remote and uninfluential areas, access to primary care services may be restricted. This may cause delays in getting essential medical care and lengthier wait times for appointments. There are varied levels of physician shortages around the nation. 

However, larger patient panels are frequently managed by primary care doctors in places where there are shortages, which results in increased workloads and less time for each patient. The degree of treatment and the capacity to provide a full range of healthcare services may be affected. Primary care physician shortages may have a long-term impact on the healthcare system. The physician shortage in primary care will hamper the growth of the market during the market forecasting period.

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Segment Overview

The market forecast report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Age Group Outlook 
  • Infants
  • Geriatrics
  • Pediatrics
  • Adults

• Type Outlook
  • General practice family physician and geriatrics
  • General internal medicine
  • General pediatrics

• Service Type Outlook
  • Physical
  • Virtual

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Market Analyst Overview

The market in the US is shaped by diverse factors, including evolving primary care models such as direct primary care and concierge services. Providers navigate through reimbursement structures from Medicare and private insurance providers, balancing salary-based compensation with value-based payment models. They operate in various settings, from independent healthcare settings to hospitals and corporate-owned practices, delivering essential services like preventive care and patient counseling. With the rise of virtual care services and telehealth, primary care providers extend their reach to Medicare beneficiaries and patients in long-term care facilities and outpatient departments. Geriatricians and general pediatric physician, also known as geriatrics physicians, general practitioners cater to diverse demographics, from pediatric services to geriatrics, ensuring holistic health promotion and disease prevention across community health centers and medical clinics.

In the dynamic landscape of the market in the US, diverse models and compensation structures shape the delivery of care. Employed physicians in large physician groups and small healthcare settings navigate between volume-based compensation, volume-based care and value-based care, adapting to the changing dynamics of physician organizations and non-physician-owned practices. They collaborate with insurers and health plans to provide comprehensive care in medical centers and outpatient department, addressing the needs of Medicare beneficiary and patients requiring specialized services like geriatric physicians and obstetrics and gynecology. With a focus on preventive care and patient education through telehealth services and teleconsultation, primary care physicians play a vital role in reducing hospitalizations and optimizing medication management. In Point Of Care Settings, they offer personalized patient counselling and ensure continuity of care for diverse populations across the healthcare continuum.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across the US
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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