Pune, India, March 21, 2022 (GLOBE NEWSWIRE) -- The U.S. 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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COVID-19 Impact:
COVID-19 Pandemic Hindered Market Revenue Due to Decreasing Patient Volume
The COVID-19 pandemic adversely affected the market in 2020. Major concerns such as the decrease in patient volume & revenue of physician groups and rise in the spending associated with COVID-19 modeled a challenge for the market growth in 2020.
For example, as per the survey instigated by Medical Group Management Association (MGMA), in 2020, around 97% of physician practices have experienced an adverse monetary impact directly or indirectly owing to COVID-19.
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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.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 1.9% |
| 2028 Value Projection | USD 287.57 billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 251.75 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 98 |
| Segments covered | By Type, By Procedure, By Geography |
| Growth Drivers | the U.S. market exhibited a decline of -3.9% in 2020 as compared to the average year-on-year growth during 2017-2019. |
| The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. | |
| The U.S. physician groups market growth can be attributed to the rising occurrence and prevalence of various medical conditions requiring treatment from these groups. Furthermore, solo practitioners seeking to join such groups contribute to the market growth. |
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Report Coverage
Our reports are conducted with an in-depth examination technique that primarily focuses on supplying updated information, which is accurate. Our scholars have applied a data navigation method that further aids us to offer dependable estimations and examine the U.S. physician groups market share perfectly. Further, our analysts have gained access to various international as well as regionally sponsored catalogs for offering the upgraded material for the stakeholders and business professionals to invest in operative areas only.
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.
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.
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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.)
Table Of Content:
1. Introduction
1.1. Market Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Number of Physicians, 2020
4.2. Number of Physician Groups, 2020
4.3. Average Cost of Key Services
4.4. Reimbursement & Regulatory Overview
4.5. Recent Industry Developments – Mergers, Acquisitions & Partnerships
4.6. Prevalence/Incidence of Key Conditions
4.7. Impact of COVID-19 on the Market
5. U.S. Physician Groups Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By No. of Physicians
5.2.1. 2 to 10
5.2.2. 11 to 24
5.2.3. 25 to 50
5.2.4. More than 50
5.3. Market Analysis, Insights and Forecast – By Ownership
5.3.1. Physician-owned
5.3.2. Hospital-owned
5.3.3. Others
5.4. Market Analysis, Insights and Forecast – By Specialty
5.4.1. Family Practice
5.4.2. General Internal Medicine
5.4.3. Pediatrics
5.4.4. Radiology
5.4.5. OB/GYN
5.4.6. Emergency Medicine
5.4.7. Others
5.5. Market Analysis, Insights and Forecast – By Payor
5.5.1. Public Health Insurance
5.5.2. Private Health Insurance/Out-of-pocket
5.6. Market Analysis, Insights and Forecast – By Type
5.6.1. Single-specialty
5.6.2. Multi-specialty
6. Competitive Analysis
Continued…
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