Fairfield Market Research Primary Care Physicians Market Share, Outlook, Size 2023-2030

Primary Care Physicians Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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Industry: Healthcare IT


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The approximately US$250 Bn market for primary care physicians will continue to observe a steady trail over the upcoming years. The report will unveil the key performance indicators carving the market growth curve, and the key regions that hold significance in market expansion.

Market Analysis Brief

Of late, the world is experiencing an alarming rise in the prevalence of diseases, communicable and non-communicable alike. This has driven the demand for primary care physicians (PCPs) on the global front. These healthcare professionals establish a robust ground for early and timely disease diagnosis, specifically terminal illnesses. The increasing prevalence of chronic disorders and a growing geriatric population base have triggered the calls for specialised treatment around the world. Evidently, primary care physicians serve a broader spectrum of healthcare concerns such as chronic, and preventative care, acute care, outpatient settings, and in inpatient settings. Increasing demand for outpatient care services, for instance, MRIs, CT scans, minor surgeries, mammograms, routine physical tests, colonoscopies, chemotherapy, and lab tests are projected to precipitate massive growth across the global primary care physicians market. The market is set to witness a paradigm shift, driven by unprecedented growth with influential ramifications.

Key Report Findings

  • In 2022, the global primary care physicians market was valuated at around US$250 Bn in 2022
  • The rise in chronic ailments, geriatric population, and hospitalisation rates are critical aspects upholding the market’s growth trajectory.
  • North America is anticipated to hold a dominant share of the global primary care physicians market.
  • Apollo Hospitals, NYU Langone Hospitals, Massachusetts General Hospital, and Trinity Health are key players sustaining a leading position in the market.

Growth Drivers

Consistent Growth in Rate of Hospitalisation

Lately, the incidence of chronic diseases has grown at a scale. This can be attributed to the soaring consumption of drugs, alcohol, and smoking, among others. Primary care physician services avert the chances of hospitalizations through robust and timely diagnosis. To this end, primary care physicians are at the epicentre of the healthcare system.

Moreover, these physicians are the first and major point of contact for the patients and play an instrumental role in mitigating chronic ailments. With growing cognizance, individuals are turning to quality patient services for the early detection of chronic diseases. Against this background, the demand for primary care physicians has experienced significant shifts.

Primary care physicians extend comprehensive and preventive care to patients. This helps them to develop a strong bond and relationship with patients, enabling the market to thrive throughout the projection timeframe. Diverse models and initiatives undertaken by the government are further nurturing a strong ground for the global primary care physicians market. These models are poised to enhance the payment structure and delivery of primary care services.

An Alarming Rise in Chronic Ailments

The recent past has demonstrated a drastic surge in the pervasiveness of chronic diseases. This is truer for the geriatric population which is more likely to develop such chronic conditions, augmenting the global primary care physician market growth. Unhealthy food habits, smoking, consumption of tobacco, and physical inactivity are among the major causes of the rising frequency of cancer cases, pre-diabetic conditions, and various other diseases.

Primary care physicians facilitate the timely diagnosis of various chronic conditions and provide care services capable of curtailing hospitalisation. Additionally, elderly people are more likely to develop diseases requiring frequent visits to physicians. It is evident that the geriatric population spends more on healthcare services. This beckons the global primary care physicians market, promising influential strides forward.

Overview of Key Segments

Chronic Conditions Segment Gains Traction

Based on the healthcare reason, the global primary care physicians market is segmented as injury, pre- or post-surgery, preventative care, acute conditions, and chronic conditions. Among these, the chronic conditions segment is likely to witness the fastest growth.

Increasingly changing dietary and lifestyle habits are affecting individuals' health, leading to chronic disorders. Emphasis on diagnosis and treatment for chronic disorders is expected to assure influential growth across the global primary care physicians market.

General Practice Segment Holds Immense Worth

Based on the type, the global market is categorised as a general practice, family physician, and geriatrics. However, the general practice segment holds immense potential due to Medicare beneficiaries’ higher dependence on general physicians and family doctors. Being the first point of contact for patients, family doctors and physicians are at the core of primary care.

A dramatic surge in chronic diseases across the globe and the geriatric population are responsible for the paced growth of this segment. Having acquired specialised skills and knowledge, these physicians are highly capable of treating all medical conditions. Moreso, the physicians also provide diagnoses of various medical ailments at the initial stage.

Growth Opportunities Across Regions

North America Foresees Notable Growth Backed by Robust Government Initiatives

In terms of region, the primary care physicians market is thriving across North America. The region is experiencing a surge in penetration of primary care physicians and demand for primary care services. Moreover, the pool of the geriatric population is consistently expanding. This expansion has increased the region’s susceptibility to developing chronic diseases.

A rise in the incidence of chronic ailments coupled with greater acceptance of family physicians has presented a substantial push towards primary care services. In addition to this, the presence of key industry players soundly backed by government initiatives to uphold healthcare infrastructure and services is further favouring market expansion.

Leading Industry Participants in Primary Care Physicians Market Space

Some of the most competitive players in the global primary care physicians market include Apollo Hospitals, NYU Langone Hospitals, Massachusetts General Hospital, Trinity Health, Cleveland Clinic, Cedars-Sinai, UCSF Health, Phenix Health, Mayo Clinic, and Fremantle Family Doctors. To keep pace with market competition, these organisations are highly motivated to enter into strategic collaborations and agreements with similar companies.

As new players are making an entrance into the market, there has been a significant flow of funds in the research and development of more advanced products. Players are highly encouraged to enter into partnerships, collaborations, and open innovation to seize opportunities floating across the market.

Regional Classification of the Global Primary Care Physicians Market is Listed Below:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • Spain
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

 Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East and Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

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Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

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