Primary Care Physicians Market Size Grows to USD 1,511.7 Billion by 2030

The Global Primary Care Physicians Market Size was estimated at USD 1062.40 Billion in 2022 and is projected to reach approximately USD 1511.7 Billion by 2030 growing at a CAGR of 4.5% between 2021-2030.

Ottawa, 09 Dec. 2022 (GLOBE NEWSWIRE) — Precedence Research, a newly released report on “Primary Care Physicians Market (By Type: General Medicine, Family Practice & Geriatrics, General Pediatrics, and General Internal Medicine) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook and Forecasts 2022-2030”.

Rising prevalence of diseases, increase in geriatric population and growing demand for early diagnosis and preventive measures among patients to prevent hospitalization are the major factors driving the demand for primary care services across the globe. Growing popular awareness about the benefits and importance of primary care physician services is expected to significantly boost the market growth.

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General practitioners are the first points of contact for patients and healthcare systems. The specialized knowledge of doctors to answer all kinds of health problems and provide effective diagnosis at the initial stage can help the patient to cure the diseases at the early stage and thus prevent hospitalization and reduce healthcare expenses. Hence, the demand for primary care services is expected to increase at a significant rate during the forecast period.

Regional overview

North America dominated the global primary care physician market in 2022, owing to the increased demand for primary care services in the United States. According to the American Medical Association, approximately 39.5% of primary care physicians were family physicians in the United States in 2017. In the United States, more than 60% of the population suffers from one or more chronic diseases and the number of new chronic patients is increasing day by day. by day. Moreover, the rapid aging of the population in the region leads to an increase in health expenditure. According to the CMS, healthcare expenditure accounted for 39.5% of GDP in the United States in 2019. Additionally, increased adoption of health insurance and favorable reimbursement policies are driving demand for primary care services in the region. Increased public awareness of the benefits of primary care has driven demand in the region. According to the US CDC, more than 51% of physician visits were for primary care in the United States in 2019.

The story continues

Asia-Pacific is estimated to be the most opportunistic market during the forecast period. This is attributed to the increasing demand for primary care services due to the increasing prevalence of diseases. Rising disposable income, growing health awareness, increasing adoption of health insurances and improved access to health care facilities have driven the demand for primary care services in the region. Additionally, the presence of a huge youthful population and growing number of doctors in the region is expected to drive the market growth in the near future.

Report Highlights

• On the basis of type, the general medicine, family medicine and geriatrics segment accounted for around 40% of the market share and dominated the global primary care physician market in 2022. Increased adoption of the services of family physicians and general practitioners has strongly stimulated growth. It is estimated that approximately 20% of doctor visits in the United States are family doctor visits.

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Report scope

Market dynamics

Driver

Increased demand for early diagnosis and treatment

Primary care physicians play a crucial role in the early diagnosis and treatment of all diseases and medical conditions. This avoids hospitalization, reduction in the use of drugs and thus saves healthcare costs for patients. These benefits are the major reasons fueling the demand for primary care services among the people across the globe.

Constraints

Shortage of primary care physicians

There is a shortage of primary care physicians across the world. This shortage of primary care physicians can lead to an increase in hospitalizations. Additionally, fewer physicians are responding to the low patient volume and the potential growth of the primary care physician market is hampered. According to the Association of American Medical Colleges, the United States could face a shortage of 21,000 to more than 55,000 primary care physicians by 2032.

Opportunity

Increase the adoption of telehealth

During the 2020 pandemic, people were increasingly consulting primary care physicians regarding the use of telehealth and telemedecine platforms. The increasing adoption of telehealth platforms by patients and physicians is expected to provide lucrative growth opportunities for market players in the foreseeable future.

Challenge

Lack of basic medical facilities

There is a lack of access to basic health care facilities, especially in rural areas of developing and underdeveloped countries. Additionally, shortage of skilled physicians is a major challenge limiting the growth of the primary care physician market.

Related Reports

By type

• General medicine, family medicine and geriatrics

• General pediatrics

• General internal medicine

By geography

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