Market Overview:
Primary care physicians provide a variety of healthcare services including health assessments, treatment of acute and chronic illnesses, immunizations, and other preventative services. They help enhance patient outcomes through preventative care and reducing unnecessary emergency room visits and hospitalizations.
Market key trends:
One of the key trends in the primary care physicians market is growing adoption of telehealth. The COVID-19 pandemic accelerated the use of telehealth as it allowed patients to connect with physicians virtually without visiting clinics physically. Various primary care providers are offering telehealth consultations to expand access and enhance convenience. This trend is expected to continue growing post-pandemic as well given its benefits.
Segment Analysis
The primary care physicians market is segmented into general practitioners, pediatricians, internists, and geriatric physicians. Among these, the general practitioners segment accounts for the largest share of over 30% of the market. General practitioners or family physicians provide primary care services to people of all age groups and for a broad range of medical conditions. They are often the first point of contact for patients in need of medical care. This segment dominates as general practitioners play a pivotal role in managing overall healthcare needs and coordinating care among various medical specialists.
The global Primary Care Physicians Market Growth is estimated to be valued at US$ 701.20 Billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global primary care physicians market size is expected to reach US$ 701.20 billion by 2023, registering a CAGR of 4.5% during 2023 to 2030, due to rising prevalence of chronic diseases and increasing focus on preventive healthcare.
Regionally, North America dominates the global market, accounting for over 35% share. This is attributed to the presence of developed healthcare infrastructure and higher adoption of value-based care in the region. Asia Pacific is expected to witness the fastest growth over the forecast period owing to rapid economic development, growing medical tourism, and increasing healthcare expenditure in developing countries such as China and India.
Key players operating in the primary care physicians market are Mayo Clinic, Cleveland Clinic, Kaiser Permanente, Johns Hopkins Medicine, Massachusetts General Hospital, UCLA Health, Ascension, Providence St. Joseph Health, Rush University Medical Center, NewYork-Presbyterian, UCSF Health, Northwestern Medicine, Partners HealthCare, Mount Sinai Health System, University of Michigan Health System, University of Washington Medicine, Cedars-Sinai, Stanford Health Care, NYU Langone Health, Penn Medicine. These players are focusing on acquisitions and collaboration with hospitals and medical schools to expand their service offerings and geographic presence.
