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Primary Care Physicians Market size to exceed $850 billion by 2030
- Published Date: September 22, 2022
Primary Care Physicians Market size is estimated to surpass USD 850 billion by 2030, according to a new research report by Global Market Insights Inc.
Rising geriatric population will complement the industry expansion. Individuals that are 60 years and above have a weak immune system and are more susceptible to infectious diseases. As a result, this age group demonstrates a growing need for health care assistance. A rise in the elderly population over the coming years will generate the need for healthcare professionals.
Rising consumer inclination toward preventative care to impact market trends
Primary care physicians market from preventative care segment is set to reach USD 190 billion by 2030. Growing concerns associated with chronic illnesses will fuel the demand for these services. Primary care physicians provide preventative care for monitoring existing ailments which helps determine health issues and avoid late-stage complications.
Preventative healthcare has a wide range of benefits for adults, children, and pregnant women. For example, preventative care for children involves immunizations, developmental screenings, and behavioral assessments. Whereas for adults, it covers cancer, cholesterol, and blood pressure screening, along with diet counseling, and immunizations. With the increasing number of health-conscious individuals and a growing focus on overall fitness, the need for routine check-ups and preventative care is likely to witness substantial growth.
Browse key industry insights spread across 160 pages with 211 market data tables & 18 figures & charts from the report, “Primary Care Physicians Market Analysis By Reason (Injury, Preventive Care, Chronic Condition, Acute Condition, Pre- or post-surgery), By Age Group (Infants, Pediatrics, Adults, Geriatrics), By Mode of Consultation (Virtual, Physical), By Service Provider (Hospitals, Clinics, Outpatient Department), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030”, in detail along with the table of contents:
Need for improved infant care to boost demand for primary care physicians
Primary care physicians market from infants segment surpassed USD 200 billion in 2021. Primary care physicians play a crucial role in healthcare services for young mothers and newly born children. It allows patients to gain detailed insights and early information regarding infections and enable safety while managing conditions that affect the post-neonatal age. Rising concerns associated with infant mortality and care for women during the gestational period will foster the industry outlook.
Increasing focus on neonatal health due to the prevalence of infant mortality across both developed and developing countries will favor industry share. Many young infants die in the first month of their life and are unable to survive due to various external and internal factors.
Rising healthcare expenditure in Europe to favor industry expansion
Europe primary care physicians market is estimated to surpass USD 210 billion by 2030. Europe is anticipated to emerge as a major revenue pocket for the industry owing to increasing healthcare expenditure in the region. Countries across the EU are gaining awareness of the usefulness of preventative care, which is expected to drive the demand for primary care physicians. Germany reported the highest healthcare expenditure of around USD 403 billion in 2019 among all EU participants, followed by France and Italy, with USD 270 billion and USD 155 billion in healthcare expenditure, respectively.
Advanced product development to complement primary industry progress
Some of the major companies discussed in the primary care physicians market report include NYU Langone Hospitals, Apollo Hospitals, Trinity Health, Massachusetts General Hospital, UCSF Health, Cleveland Clinic, Cedars-Sinai, Mayo clinic, Phenix Health, and Fremantle Family Doctors. The competitive landscape showcases strategic efforts including the construction of new facilities, collaborations, and funding programs to attract practitioners.
For instance, in June 2022, Cedars-Sinai unveiled new facilities offering primary care, OB-GYN care, and urgent care for children and adults in Los Feliz in LA, California. The new centers will connect patients with board-certified physicians of the company.