The US physician groups market size was USD 249.80 billion in 2020. The market is projected to grow from USD 251.75 billion in 2021 to USD 287.57 billion in 2028 at a CAGR of 1.9% in 2021-2028. This information is provided by Fortune Business Insights™, in its report titled, “U.S. Physician Groups Market, 2021-2028.”
As per the research conducted by our expert analysts, the market growth is accredited to the rising occurrence and existence of numerous medical ailments necessitating treatment from physician groups. Moreover, growing procurements of physician groups by the hospitals and private-equity firms will bolster the market growth.
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Segments
Physician-owned Segment to Dominate Market during Forecast Period
On the basis of the no. of physicians, the market is divided into 2 to 10, 11 to 24, 25 to 50, and more than 50. The more than 50 segment dominated the U.S. market in 2020 and is anticipated to continue its dominance during the forecast period. The dominance of more than 50 physicians segment is attributed to the rising collaborations and acquisitions.
In terms of ownership, the market is segregated into physician-owned, hospital-owned, and others.
By specialty, the market is classified into family practice, general internal medicine, pediatrics, radiology, OB/GYN, emergency medicine, and others.
By payor, the market is branched into public health insurance and private health insurance/out-of-pocket.
Based on type, the market is categorized into single-specialty and multi-specialty.
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Driving Factors
Growing Emphasis of Players on Collaborations to Drive U.S. Physician Groups Market Growth
In the past few decades, there is an upsurge in the collaborations and procurements of the groups. This is accredited to the rising operational and management costs. Therefore, to decline the administrative load on physicians, small physician groups lean toward joining bigger groups.
Additionally, private equity firms also concentrate on investments, leading to affirmative growth for physicians and private equity firms. They further invest in specialties such as ophthalmology, orthopedic, urology, and gastroenterology. Furthermore, owing to the pandemic, many physician groups were impacted and looked for novel & economically safe partnerships with the rest of the players in the market.
Competitive Landscape
New Facility Launch by Prime Players to Drive Market Growth
The fundamental players embrace numerous tactics to bolster their position in the market as dominating companies. One such important strategy is procuring companies to boost the brand value among users. Another effective stratagem is intermittently launching new facilities meant for the welfare of the society as well as beneficial for the company along with a detailed study of the market and its target audience.
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Industry Development
- January 2020: Northwell Health’s Cohen Children’s Medical Center unveiled their pediatric practice based in New Hyde Park, known as Cohen Children’s Northwell Health Physician Partners Pediatric Specialists. This novel institution is estimated to augment the services and amenities in Northwell Health.
List of Key Players Covered in the Report
- The Permanente Medical Group (U.S.)
- Cleveland Clinic (U.S.)
- HealthCare Partners IPA (U.S.)
- Ascension (U.S.)
- Northwell Health (U.S.)
- Mayo Foundation for Medical Education and Research (MFMER) (U.S.)
- Beaumont Health (U.S.)
- Brigham and Women’s Hospital (U.S.)
- Advocate Aurora Health (U.S.)
- NYU Langone Hospitals (U.S.)
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Table Of Contents :
- Introduction
- Market Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Number of Physicians, 2020
- Number of Physician Groups, 2020
- Average Cost of Key Services
- Reimbursement & Regulatory Overview
- Recent Industry Developments – Mergers, Acquisitions & Partnerships
- Prevalence/Incidence of Key Conditions
- Impact of COVID-19 on the Market
- U.S. Physician Groups Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By No. of Physicians
- 2 to 10
- 11 to 24
- 25 to 50
- More than 50
- Market Analysis, Insights and Forecast – By Ownership
- Physician-owned
- Hospital-owned
- Others
- Market Analysis, Insights and Forecast – By Specialty
- Family Practice
- General Internal Medicine
- Pediatrics
- Radiology
- OB/GYN
- Emergency Medicine
- Others
- Market Analysis, Insights and Forecast – By Payor
- Public Health Insurance
- Private Health Insurance/Out-of-pocket
- Market Analysis, Insights and Forecast – By Type
- Single-specialty
- Multi-specialty
- Competitive Analysis
- U.S. Market Share Analysis (2020)
- Company Profiles (Overview, Products & Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability))
- Cleveland Clinic
- Mayo Foundation for Medical Education and Research (MFMER)
- Beaumont Health
- NYU Langone Hospitals
- Brigham and Women’s Hospital
- Northwell Health
- Advocate Aurora Health
- Ascension
- HealthCare Partners IPA
- The Permanente Medical Group
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