Primary Care Market by Primary Care Services (Preventive Care, Diagnosis, Management of Chronic Diseases, Treatment of Acute Illness, and Others), by Service Provider (Independent, Institutions, Payer-Owned Primary Care Providers, Retailers, and Ancillary Providers), by Revenue Models (Fee-for-Service, and Fee-for-Value/Value-Based Care (VBC)), and by Patient Demographics (Pediatrics, Adults under 65, and Adults 65+), by Mode of Consultation (In-Person Medical Care, and Digital and Virtual Healthcare Services), and by Source of Payment (Insurance Companies, and Out of Pocket) – The Global Opportunity Analysis and Industry Forecast 2024-2030

Primary Care Market Overview

The global Primary Care Market size was valued at USD 570.4 billion in 2023 and is predicted to reach USD 773.6 billion by 2030 with a CAGR of 4.5% from 2024-2030.

Primary Health Services Sector is a vital component of healthcare system, comprising of different techniques intended to provide wide-ranging, accessible and continuous care to individuals across all age group. This segment includes services provided by professionals including general practitioners, internists, pediatricians, nurse practitioners, and others whose key priorities are finding and treating acute illnesses, providing preventive care, and educating the patient. 

Different health care settings characterize the market and range from private practices, clinics, community health center, integrated health systems, among others. By emphasizing early intervention and continuous care, primary care significantly contributes to improving health outcomes, enhancing patient satisfaction, and reducing healthcare costs.

Market Dynamics and Trends

The increasing occurrence of chronic diseases globally such as diabetes and CVDs among others are significantly driving the primary care market growth. These diseases need regular monitoring and effective management to ensure appropriate treatment. As per the World Health Organization, chronic disease causes the maximum number of deaths globally.

It accounts for 41 million deaths each year, out of all the chronic diseases, CVDs accounts for approximately 17.9 million death each year, followed by cancers, chronic respiratory diseases and diabetes. With such increase in the prevalence of chronic diseases, there is an anticipated rise in demand for accessible and active primary care services.

Moreover, the worldwide rise in the number of geriatric populations creates demand for effective primary care diagnostics. Older people become more prone to conditions such as arthritis, CVDs and diabetes, and this condition requires advanced patient care, regular monitoring, and active healthcare solutions for effective management of the diseases. 

WHO states that by 2030, 1 in 6 people in the world will be aged 60 years or above, and it is expected that the world’s population of people aged 60 years and older will reach 2.1 billion by 2050. This demographic shift highlights the increasing importance of healthcare systems focusing on active care for older adults to maintain their health and quality of life effectively.

Furthermore, favorable government policy and strategies play a fundamental role in driving the primary health services sector globally. The increasing investment by both government and private healthcare institutes to enhance primary care infrastructure and strengthen healthcare systems drives the demand for primary care industry, which in turn boosts the primary care market expansion. 

For instance, on January 2024, the National Health Services of the UK, and the Buckinghamshire, Oxfordshire and Berkshire West Integrated Care Board (BOB ICB) launched a strategy to transform general practice, community pharmacy, optometry, and dentistry in England. The collaboration was aimed toward improving access to personalized healthcare services.

However, the high costs of healthcare services and the challenges associated with reimbursement significantly and restraints the primary health services sector growth.

On the contrary, adoption of integrated care models such as Patient-Centered Medical Homes (PCMHs) and Accountable Care Organizations (ACOs) creates an ample growth opportunity of the market in forthcoming years. 

These models are designed to enhance coordinated care delivery by facilitating collaboration among primary care providers, specialists, and other healthcare CRM professionals to notably improve health outcomes and elevate the overall quality of healthcare services available to patients.

Market Segmentations and Scope of the Study

The primary care market report is segmented on the basis of primary care services, service providers, revenue models, patient demographics, mode of consultation and source of payment. On the basis of primary care services, the market is divided into preventive care, diagnosis, management of chronic diseases, treatment of acute illness, and others. On the basis of service provider, the market is classified into independent, institutions, payer-owned primary care providers, retailers and ancillary providers. Based on revenue models, the market is bifurcated into Fee-for-Service and Fee-for-Value/Value-Based Care (VBC). Based on patient demographics, the market is categorized into pediatrics, adults under 65, and adults 65+. On the basis of mode of consultation, the market is segmented into in-person medical care and digital and virtual healthcare services. Based on source of payment, the market is divided into insurance companies and out of pocket. Regional breakdown and analysis of each of the aforesaid segments includes regions, such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Geographical Analysis

North America region dominates the primary care market share, due to the increase in chronic diseases in the North American region, propelling the primary care diagnostics demand. These services include regular monitoring, medication management, patient education, and preventive measures. 

The U.S. Department of Health and Human Services states that, around 129 million persons in the U.S. deals with one of the major chronic diseases and five of the ten leading causes of death in the U.S. are due to such chronic diseases.

Such an increase in the number of chronic diseases will actually raise the demand for comprehensive and accessible care in managing these diseases for improved outcomes in health.

Moreover, the market in this region is driven by the rising geriatric population who are prone to numerous chronic conditions including CVD and diabetes. This in turn drives the demand for interactive patient care, patient monitoring, and proactive healthcare measures including primary care services.

For instance, the number of people above 65 years and older is to reach 82 million in 2050 from 58 million in 2022. This defines a positive demographic change, coupled with a growing demand for effective, adequate healthcare solutions since primary healthcare plays an extensive role in managing chronic conditions and health promotion among individuals.

On the other hand, Asia-Pacific region is expected to witness significant growth in the primary care market. The rise in the number of old age population in the region is driving the demand for regular monitoring of numerous health conditions ensuring effective management of   their health and quality of life. 

According to WHO, an estimated 402 million people (28% of the total population) in China are anticipated to be over the age of 60 by 2040. This change in the population age emphasizes the growing need for healthcare systems to provide proactive and personalized care for older adults, driving the growth of the market in this region. 

Moreover, government-established primary health centers (PHCs) are significantly driving the growth of the primary healthcare market due to their role in enhancing accessibility, affordability, and quality of healthcare services. These centers are strategically situated in both rural and urban underserved areas, ensuring that populations have easier access to essential health services. 

According to Ministry of Health and Family Healthcare, in India, about 414 million people accessed primary healthcare services and more than 945 hundred thousand tele-consultations were done at the Health and Wellness Centers in 2021. The integration of PHCs with community health programs and continuous capacity building of healthcare professionals further strengthens the primary healthcare system.

Competitive Landscape

The primary care industry comprises of various market key players such as CVS Health Corporation, UnitedHealth Group Incorporated, Humana Inc., Anthem, Inc., Cigna Corporation, Walgreens Boots Alliance Inc., Walmart Inc., Teladoc Health Inc., American Well Corporation, Oak Street Health Inc. and others. These market players are adopting various strategies, such as product launches, partnership and acquisition to remain dominant in the market.

For instance, in November 2023, Oak Street Health, a CVS Health subsidiary expanded its healthcare business in Lowa, U.S., by opening a new primary care center to reduce hospital admissions and integrating behavioral health support, accessible through in-center, in-home, and telehealth appointments, supported by a 24/7 patient care.

Also, in April 2023, Walgreens Boots Alliance partnered with Village MD to offer full-service primary care practices across U.S.  to incorporate healthcare services into Walgreen’s stores and to provide suitable access to comprehensive primary care, chronic care management and preventative health services.

Moreover, in January 2023, CVS Health launched virtual primary care services to meet the demand for digital health systems post-pandemic. The platform allows convenient and accessible healthcare options aligned with consumer preferences for virtual and telehealth services by integrating virtual or in-network providers such as MinuteClinic for follow-up care.

Key Benefits

• The report provides quantitative analysis and estimations of the primary care market from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep dive analysis of the current and future primary care market to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the primary health care service market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated on the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Primary Care Market Key Segments

By Primary Care Services

• Preventive Care

• Diagnosis

• Management of Chronic Diseases

• Treatment of Acute Illness

• Others 

By Service Providers

• Independent

• Institutions

• Payer-Owned Primary Care Providers

• Retailers

• Ancillary Providers 

By Revenue Models

• Fee-for-Service

• Fee-for-Value/Value-Based Care (VBC)

By Patient Demographics

• Pediatrics

• Adults under 65

• Adults 65+

By Mode of Consultation

• In-Person Medical Care

• Digital and Virtual Healthcare Services

By Source of Payment

• Insurance Companies

• Out of Pocket

REPORT SCOPE AND SEGMENTATION:

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