U.S. Primary Care Physicians Market Size, Share & Trends Analysis Report By Type (General Practice, Family Physician & Geriatrics, General Internal Medicine), By Region, And Segment Forecasts, 2023 - 2030
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U.S. Primary Care Physicians Market Growth & Trends
The U.S. primary care physicians market size is expected to reach USD 339.6 billion by 2030, based on a new report by Grand View Research, Inc. The market is projected to register a CAGR of 3.28% from 2023 to 2030. A rising number of Medicare beneficiaries in the U.S. have boosted the demand for the primary care physicians (PCPs). According to Kaiser Family Foundation, as of January 2023, there were around 502,217 active PCPs in the U.S. The number of internal medicine physicians was the largest accounting for 205,285 active physicians.
The Patient Protection and Affordable Care Act (ACA) has made health insurance more accessible to millions of uninsured U.S.-based individuals in the past decade. The nonelderly population not covered by Medicare, especially young adults, have gained maximum benefits from these health coverage programs. In 2020, the U.S. Census Bureau reported that the percentage of insured people was 91.4%. With an increase in the insured population, there is an upsurge in the consumption of healthcare services. Demand for these services and PCPs is, thus, anticipated to increase over the forecast period.
The COVID-19 pandemic has created a high demand for PCPs in the U.S. Majority of the private physician practices reported a significant loss of revenue, physician burnout, shutting down of practices, and furloughed staff. In a survey conducted by the Medical Group Management Association, in April 2020, around 97% of independent practices reported a negative impact of COVID-19 on their financials directly or indirectly. PCPs are being approached for vaccination, and telehealth & virtual care services have created new opportunities for physicians to increase access to primary care across the country.
U.S. Primary Care Physicians Market Report Highlights
U.S. Primary Care Physicians Market Growth & Trends
The U.S. primary care physicians market size is expected to reach USD 339.6 billion by 2030, based on a new report by Grand View Research, Inc. The market is projected to register a CAGR of 3.28% from 2023 to 2030. A rising number of Medicare beneficiaries in the U.S. have boosted the demand for the primary care physicians (PCPs). According to Kaiser Family Foundation, as of January 2023, there were around 502,217 active PCPs in the U.S. The number of internal medicine physicians was the largest accounting for 205,285 active physicians.
The Patient Protection and Affordable Care Act (ACA) has made health insurance more accessible to millions of uninsured U.S.-based individuals in the past decade. The nonelderly population not covered by Medicare, especially young adults, have gained maximum benefits from these health coverage programs. In 2020, the U.S. Census Bureau reported that the percentage of insured people was 91.4%. With an increase in the insured population, there is an upsurge in the consumption of healthcare services. Demand for these services and PCPs is, thus, anticipated to increase over the forecast period.
The COVID-19 pandemic has created a high demand for PCPs in the U.S. Majority of the private physician practices reported a significant loss of revenue, physician burnout, shutting down of practices, and furloughed staff. In a survey conducted by the Medical Group Management Association, in April 2020, around 97% of independent practices reported a negative impact of COVID-19 on their financials directly or indirectly. PCPs are being approached for vaccination, and telehealth & virtual care services have created new opportunities for physicians to increase access to primary care across the country.
U.S. Primary Care Physicians Market Report Highlights
- Government bodies have realized the importance of PCPs in developing a value-based healthcare system in the U.S. and have undertaken various initiatives to bridge these gaps between revenues of different specialties
- As PCPs are focusing on horizontal or vertical consolidation, buyers, such as private equity firms, insurance companies, and hospitals & medical institutes, are getting lucrative opportunities for investment in the market
- Family physicians are the leading specialty providers in primary care. As per the 2022 Physician Specialty Data Report by the Association of American Medical Colleges, family medicine/general practice accounted for 118,641 active PCPs in 2021
- The Centers for Medicare & Medicaid Services (CMS) has developed several models, such as Comprehensive Primary Care Plus (CPC+) and Primary Care First Model, to strengthen primary care at the regional and national levels. These models offer innovative payment structures that enhance the delivery of primary care
- The U.S. PCPs market is highly fragmented, with the presence of small private practices, physicians employed by healthcare networks, and multispecialty groups. There is an upward trend of consolidation in the market due to an increasing shortage of physicians, low remunerations, and growing demand for these services
CHAPTER 1 REPORT SCOPE
1.1 Market Segmentation
1.2 Estimates and Forecast Timeline
CHAPTER 2 METHODOLOGY
2.1 Research Methodology
2.1.1 Information procurement
2.1.2 Purchased Database
2.1.3 GVR's Internal Database
2.1.4 Secondary Sources
2.1.5 Primary Research
2.1.6 Details of Primary Research
2.2 Information or Data Analysis
2.2.1 Data Analysis Models
2.3 Market Formulation & Validation
2.3.1 Volume Price Analysis
2.4 List of Secondary Sources
2.5 List of Abbreviations
CHAPTER 3 OBJECTIVES
3.1 Objective -
3.2 Objective -
3.3 Objective -
CHAPTER 4 EXECUTIVE SUMMARY
4.1 Market Snapshot
4.2 Market Segmentation
4.3 Competitive Landscape
CHAPTER 5 MARKET VARIABLES, TRENDS, & SCOPE
5.1 Market Lineage Outlook
5.1.1 Parent market outlook
5.1.2 Related/Ancillary Market Outlook
5.2 Market Dynamics
5.2.1 Market driver analysis
5.2.1.1 Primary care is expected to reduce medical expenditure and improve healthcare outcomes
5.2.1.2 Increasing demand for primary care from the insured population
5.2.1.3 Government initiatives to improve revenue for primary care physicians
5.2.2 Market restraint analysis
5.2.2.1 Gap between demand and supply of primary care physicians
5.2.2.2 Administrative burden and growing operational cost
5.3 Business Environment Analysis Tools
5.3.1 U.S. Primary Care Physicians - Porter's Five Forces Analysis
5.3.1.1 Bargaining power of suppliers
5.3.1.2 Competitive rivalry
5.3.1.3 Bargaining power of buyers
5.3.1.4 Threat of new entrants
5.3.1.5 Threat of substitutes
5.3.2 U.S. Primary Care Physicians - PEStEL Analysis
5.3.2.1 Political and legal
5.3.2.2 Economic
5.3.2.3 Social & technology
5.4 Regulatory Scenario & Reimbursement Outlook
5.5 Penetration & Growth Prospect Mapping
5.6 Number of Active Primary Care Providers per 100,000 population, by State
5.7 Primary Care Physicians by Geography
CHAPTER 6 U.S. PRIMARY CARE PHYSICIANS MARKET: TYPE ANALYSIS
6.1 U.S. Primary Care Physicians Type Market Share Analysis, 2022 & 2030
6.2 U.S. Primary Care Physicians Type Market: Segment Dashboard
6.2.1 General Practice, Family Physician and Geriatrics
6.2.1.1 General practice, family physician and geriatrics market, 2018 - 2030 (USD Billion)
6.2.2 General Internal Medicine
6.2.2.1 General internal medicine market, 2018 - 2030 (USD Billion)
6.2.3 General Pediatrics
6.2.3.1 General pediatrics market, 2018 - 2030 (USD Billion)
CHAPTER 7 U.S. PRIMARY CARE PHYSICIANS MARKET: REGION ANALYSIS
7.1 U.S. Primary Care Physicians Region Market Share Analysis, 2022 & 2030
7.2 U.S. Primary Care Physicians Region Market: Segment Dashboard
7.2.1 West
7.2.1.1 West primary care physicians market, 2018 - 2030 (USD Billion)
7.2.2 Northeast
7.2.2.1 Northeast primary care physicians market, 2018 - 2030 (USD Billion)
7.2.3 Southeast
7.2.3.1 Southeast primary care physicians market, 2018 - 2030 (USD Billion)
7.2.4 Southwest
7.2.4.1 Southwest primary care physicians market, 2018 - 2030 (USD Billion)
7.2.5 Midwest
7.2.5.1 Midwest primary care physicians market, 2018 - 2030 (USD Billion)
CHAPTER 8 COMPETITIVE ANALYSIS
8.1 Company Overview
8.2 Financial Performance
8.3 Participant Categorization
8.4 Company Market Position Analysis
8.5 Strategy mapping
8.5.1 Mergers & Acquisitions
8.5.2 Partnership & Collaborations
8.5.3 Expansion
8.5.4 Geographical Expansion
8.5.5 Others
8.6 Company Profiled
8.6.1 MDVIP
8.6.2 1Life Healthcare, Inc. (One Medical Group)
8.6.3 Rhode Island Primary Care Physicians Corporation (RIPCPC)
8.6.4 ChenMed LLC
8.6.5 Colonial Healthcare
8.6.6 Duly Health and Care (Formerly DuPage Medical Group)
8.6.7 Optum, Inc.
8.6.8 New West Physicians
8.6.9 Crossover Health
8.6.10 Premier Medical Associates
CHAPTER 9 RECOMMENDATIONS
1.1 Market Segmentation
1.2 Estimates and Forecast Timeline
CHAPTER 2 METHODOLOGY
2.1 Research Methodology
2.1.1 Information procurement
2.1.2 Purchased Database
2.1.3 GVR's Internal Database
2.1.4 Secondary Sources
2.1.5 Primary Research
2.1.6 Details of Primary Research
2.2 Information or Data Analysis
2.2.1 Data Analysis Models
2.3 Market Formulation & Validation
2.3.1 Volume Price Analysis
2.4 List of Secondary Sources
2.5 List of Abbreviations
CHAPTER 3 OBJECTIVES
3.1 Objective -
3.2 Objective -
3.3 Objective -
CHAPTER 4 EXECUTIVE SUMMARY
4.1 Market Snapshot
4.2 Market Segmentation
4.3 Competitive Landscape
CHAPTER 5 MARKET VARIABLES, TRENDS, & SCOPE
5.1 Market Lineage Outlook
5.1.1 Parent market outlook
5.1.2 Related/Ancillary Market Outlook
5.2 Market Dynamics
5.2.1 Market driver analysis
5.2.1.1 Primary care is expected to reduce medical expenditure and improve healthcare outcomes
5.2.1.2 Increasing demand for primary care from the insured population
5.2.1.3 Government initiatives to improve revenue for primary care physicians
5.2.2 Market restraint analysis
5.2.2.1 Gap between demand and supply of primary care physicians
5.2.2.2 Administrative burden and growing operational cost
5.3 Business Environment Analysis Tools
5.3.1 U.S. Primary Care Physicians - Porter's Five Forces Analysis
5.3.1.1 Bargaining power of suppliers
5.3.1.2 Competitive rivalry
5.3.1.3 Bargaining power of buyers
5.3.1.4 Threat of new entrants
5.3.1.5 Threat of substitutes
5.3.2 U.S. Primary Care Physicians - PEStEL Analysis
5.3.2.1 Political and legal
5.3.2.2 Economic
5.3.2.3 Social & technology
5.4 Regulatory Scenario & Reimbursement Outlook
5.5 Penetration & Growth Prospect Mapping
5.6 Number of Active Primary Care Providers per 100,000 population, by State
5.7 Primary Care Physicians by Geography
CHAPTER 6 U.S. PRIMARY CARE PHYSICIANS MARKET: TYPE ANALYSIS
6.1 U.S. Primary Care Physicians Type Market Share Analysis, 2022 & 2030
6.2 U.S. Primary Care Physicians Type Market: Segment Dashboard
6.2.1 General Practice, Family Physician and Geriatrics
6.2.1.1 General practice, family physician and geriatrics market, 2018 - 2030 (USD Billion)
6.2.2 General Internal Medicine
6.2.2.1 General internal medicine market, 2018 - 2030 (USD Billion)
6.2.3 General Pediatrics
6.2.3.1 General pediatrics market, 2018 - 2030 (USD Billion)
CHAPTER 7 U.S. PRIMARY CARE PHYSICIANS MARKET: REGION ANALYSIS
7.1 U.S. Primary Care Physicians Region Market Share Analysis, 2022 & 2030
7.2 U.S. Primary Care Physicians Region Market: Segment Dashboard
7.2.1 West
7.2.1.1 West primary care physicians market, 2018 - 2030 (USD Billion)
7.2.2 Northeast
7.2.2.1 Northeast primary care physicians market, 2018 - 2030 (USD Billion)
7.2.3 Southeast
7.2.3.1 Southeast primary care physicians market, 2018 - 2030 (USD Billion)
7.2.4 Southwest
7.2.4.1 Southwest primary care physicians market, 2018 - 2030 (USD Billion)
7.2.5 Midwest
7.2.5.1 Midwest primary care physicians market, 2018 - 2030 (USD Billion)
CHAPTER 8 COMPETITIVE ANALYSIS
8.1 Company Overview
8.2 Financial Performance
8.3 Participant Categorization
8.4 Company Market Position Analysis
8.5 Strategy mapping
8.5.1 Mergers & Acquisitions
8.5.2 Partnership & Collaborations
8.5.3 Expansion
8.5.4 Geographical Expansion
8.5.5 Others
8.6 Company Profiled
8.6.1 MDVIP
8.6.2 1Life Healthcare, Inc. (One Medical Group)
8.6.3 Rhode Island Primary Care Physicians Corporation (RIPCPC)
8.6.4 ChenMed LLC
8.6.5 Colonial Healthcare
8.6.6 Duly Health and Care (Formerly DuPage Medical Group)
8.6.7 Optum, Inc.
8.6.8 New West Physicians
8.6.9 Crossover Health
8.6.10 Premier Medical Associates
CHAPTER 9 RECOMMENDATIONS
LIST OF TABLES
TABLE 1 List of secondary sources
TABLE 2 List of abbreviations
TABLE 3 Primary Care Health Professional Shortage Areas (HPSAs)
TABLE 4 U.S. Primary Care Physician Market, by Type, 2018 - 2030 (USD Billion)
TABLE 5 U.S. Primary Care Physician Market, by Region, 2018 - 2030 (USD Billion)
TABLE 1 List of secondary sources
TABLE 2 List of abbreviations
TABLE 3 Primary Care Health Professional Shortage Areas (HPSAs)
TABLE 4 U.S. Primary Care Physician Market, by Type, 2018 - 2030 (USD Billion)
TABLE 5 U.S. Primary Care Physician Market, by Region, 2018 - 2030 (USD Billion)
LIST OF FIGURES
FIG. 1 U.S. primary care physicians market segmentation
FIG. 2 Market research process
FIG. 3 Information procurement
FIG. 4 Primary research pattern
FIG. 5 Market research approaches
FIG. 6 Value-chain-based sizing & forecasting
FIG. 7 QFD modeling for market share assessment
FIG. 8 Market formulation & validation
FIG. 9 Market snapshot
FIG. 10 Market segmentation
FIG. 11 Competitive Landscape
FIG. 12 U.S. primary care physicians market lineage
FIG. 13 Related market outlook
FIG. 14 U.S. primary care physicians market trends & outlook
FIG. 15 Market driver relevance analysis (Current & future impact)
FIG. 16 Market restraint relevance analysis (Current & future impact)
FIG. 17 Penetration & growth prospect mapping
FIG. 18 Primary care physicians by geography, 2019
FIG. 19 U.S. primary care physicians type market share analysis, (USD Billion)
FIG. 20 U.S primary care physicians type market: Segment dashboard
FIG. 21 General practice, family physician and geriatrics market, 2018 - 2030 (USD Billion)
FIG. 22 General internal medicine market, 2018 - 2030 (USD Billion)
FIG. 23 General pediatrics market, 2018 - 2030 (USD Billion)
FIG. 24 U.S primary care physicians region market: Segment dashboard
FIG. 25 West market, 2018 - 2030 (USD Billion)
FIG. 26 Northeast market, 2018 - 2030 (USD Billion)
FIG. 27 Southeast market, 2018 - 2030 (USD Billion)
FIG. 28 Southwest market, 2018 - 2030 (USD Billion)
FIG. 29 Midwest market, 2018 - 2030 (USD Billion)
FIG. 30 Company categorization
FIG. 31 Company market position analysis
FIG. 32 Strategy mapping
FIG. 1 U.S. primary care physicians market segmentation
FIG. 2 Market research process
FIG. 3 Information procurement
FIG. 4 Primary research pattern
FIG. 5 Market research approaches
FIG. 6 Value-chain-based sizing & forecasting
FIG. 7 QFD modeling for market share assessment
FIG. 8 Market formulation & validation
FIG. 9 Market snapshot
FIG. 10 Market segmentation
FIG. 11 Competitive Landscape
FIG. 12 U.S. primary care physicians market lineage
FIG. 13 Related market outlook
FIG. 14 U.S. primary care physicians market trends & outlook
FIG. 15 Market driver relevance analysis (Current & future impact)
FIG. 16 Market restraint relevance analysis (Current & future impact)
FIG. 17 Penetration & growth prospect mapping
FIG. 18 Primary care physicians by geography, 2019
FIG. 19 U.S. primary care physicians type market share analysis, (USD Billion)
FIG. 20 U.S primary care physicians type market: Segment dashboard
FIG. 21 General practice, family physician and geriatrics market, 2018 - 2030 (USD Billion)
FIG. 22 General internal medicine market, 2018 - 2030 (USD Billion)
FIG. 23 General pediatrics market, 2018 - 2030 (USD Billion)
FIG. 24 U.S primary care physicians region market: Segment dashboard
FIG. 25 West market, 2018 - 2030 (USD Billion)
FIG. 26 Northeast market, 2018 - 2030 (USD Billion)
FIG. 27 Southeast market, 2018 - 2030 (USD Billion)
FIG. 28 Southwest market, 2018 - 2030 (USD Billion)
FIG. 29 Midwest market, 2018 - 2030 (USD Billion)
FIG. 30 Company categorization
FIG. 31 Company market position analysis
FIG. 32 Strategy mapping
