Physician Staffing Is The Fastest Growing Segment Fueling The Growth Of Primary Care Physicians Market

Primary Care Physicians Market

The global Primary Care Physicians Market is estimated to be valued at Us$ 701.20 Bn 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.

Market Overview:

Primary care physicians treat common medical conditions and provide comprehensive preventive care for various age groups and both genders. They play an important role in managing patient care through screenings, treatment, patient education and referrals.

Market key trends:

The physician staffing segment is witnessing significant growth in the primary care physicians market, driven by the increasing shortage of healthcare professionals. There is a growing demand for locum tenens physicians, who temporarily replace primary care physicians when they are unavailable due to vacations, illness, maternity/paternity leave or sabbaticals. This provides flexibility and efficiency in healthcare organizations.

Segment Analysis

The primary care physicians market is dominated by solo or small group practice physicians. This segment accounts for over 50% of the market share as these physicians focus on providing holistic care to their patients on a day to day basis. They understand patient needs better than large group practices and are able to build strong bonds with patients over time due to frequent interactions. However, the market is shifting towards larger group practices and integrated delivery networks as the quality of care improves with scale and better coordination between different specialties.

Key Takeaways

The Global Primary Care Physicians Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing prevalence of chronic diseases. The rising geriatric population also contributes to the high disease burden thereby driving more patients to seek primary care.

Regional analysis - North America dominates the global primary care physicians market currently accounting for over 35% of the market share. This is attributed to favorable reimbursement policies and initiatives by governments in the US and Canada to strengthen primary care. However, Asia Pacific is projected to grow the fastest during the forecast period supported by expanding health insurance coverage and increasing healthcare investments in major countries like 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 inorganic growth strategies like collaborations and mergers to consolidate their position in the market.

Read More :  https://www.insightprobing.com/the-growing-threat-of-chronic-diseases-to-drive-the-growth-of-the-primary-care-physicians-market/