Concierge Medicine Market Size (2024 - 2029)

Concierge Medicine Market Analysis

The Concierge Medicine Market size is estimated at USD 23.73 billion in 2024, and is expected to reach USD 37.18 billion by 2029, growing at a CAGR of 9.40% during the forecast period (2024-2029).

As the pandemic hit, concierge doctors observed a spike in demand for memberships and their telemedicine system. With Covid testing and Covid-specialized medical care (concierge-medicine style) and discreet access to top medical facilities, concierge medicine pushed the field's speed, efficiency, and care into the pandemic era. During the pandemic, concierge medicine flourished and permeated public healthcare as patients grew weary of leaving their homes and waiting in waiting rooms. Besides, several concierge medicine service providers began providing COVID-19 testing and management consultations.

For instance, in July 2021, Concierge Medical, a home-visiting general practice, was granted accreditation to conduct COVID-19 testing. Hence, concierge medicine observed a considerable demand during the pandemic, and the trend is expected to continue during the forecast period owing to the rising demand for personalized healthcare services.

Physicians' increasing adoption of concierge medicine to provide patients with improved outcomes, enhanced well-being, and a personalized patient experience is also projected to augment the market growth. For instance, an article published in July 2021 in the British Medical Journal indicated a growing interest in global personalization and customization (i.e., personalized medicine and patient-centered care).

In concierge medicine, patients get same-day appointments, and physicians have more time to focus on preventive, customized care. Therefore, the demand for a complete form of care due to its advantages for patients is creating growth opportunities for healthcare providers to expand concierge medicine.

Furthermore, the rising strategic initiatives by market players, such as launches, collaborations, and partnerships to expand the concierge medicine market, are expected to boost market growth. For instance, in December 2022, Cardio Diagnostics Holdings Inc., a precision cardiovascular diagnostics company, partnered with Houston Concierge Medicine to utilize Cardio Diagnostics' Epi+Gen CHD test for screening purposes.

This comprehensive test combines epigenetics, genetics, high-throughput computing, and artificial intelligence (AI) to accurately identify individuals at risk for coronary heart disease. The Epi+Gen CHD test was made available to patients of Houston Concierge Medicine as an integral component of their Executive Health Program.

Therefore, owing to the factors such as rising demand for concierge medicines and personalized healthcare, the studied market is expected to grow during the forecast period. However, the lack of health insurance coverage is expected to restrain the market growth.

Concierge Medicine Industry Segmentation

Concierge medicine is also known as boutique medicine, retainer-based medicine, platinum practice, and direct primary care. It is a form of membership-based healthcare that combines convenient accessibility with personalized treatment. 

The concierge medicine market is segmented by application (primary care, cardiology, internal care, pediatrics, and other applications), ownership (group and standalone), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. 

The report offers the value (in USD million) for the above segments.