Global Physicians Group Market

Global Physicians Group Market

Global Physicians Group market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

The physician group is a community of one or more physicians operating as an organization to provide care. The group is either owned by the physicians themselves or a hospital where they work as a group. A physician group has the same or different specialties so that if patients with various issues reach out, the group itself is sufficient for the treatment. Physician groups with multi-specialty expertise offer different types of care within the same facility. It can be owned and managed by hospitals or even independent contractors.

Market Dynamics: Drivers & Restraints

Increasing strategic developments

Strategic Developments by key physician groups advance the patient care management and quality of treatment given to patients living with ailments. Partnerships and agreements between different physicians help collaborate different ideas for providing better care. For instance, in July 2023, DocGo Inc., a leading provider of last-mile mobile health services expanded its partnership with HealthCare Partners NY, an organization led by physicians that empowers healthcare providers to deliver exceptional healthcare to patients in New York.

In January 2023, Ascend Capital Partners, invested in Allied Physicians Group, New York’s largest independent provider of pediatric care, and Adjuvant Health is an innovator in providing physician-led medical practice administration. As a part of the investment, CareAbout will enable the expansion of primary care services and improve patient care management and delivery.

In September 2023, The Centers for Medicare and Medicaid Services (CMS) and Colorado Family Physicians partnered to test a primary care model that will improve primary care service quality and accessibility.

Lack of Transparency

Practice physician groups consisting of more than 1000 people working as an organization can lack transparency in certain aspects with which several issues may arise. Group disputes can be witnessed due to long-term agreements or a few physicians leaving the group without notice. Small issues can impact the physician group as the group has to work as an organization to uplift the patient management.

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Segment Analysis

The global physicians group market is segmented based on type, ownership, specialty and region.

Multi-specialty type is Expected to Dominate the Market

Multi-Specialty physicians’ group is more useful for patients suffering from multiple illnesses at the same time. Generally, a single specialty group lacks doctors who can be able to treat different body ailments of patients, unlike a multi-specialty physician group. Strategic partnerships between key physician groups drive the market in the forthcoming period.

For instance, in June 2022, Palmetto Primary Care physicians, an independent multi-specialty physician group, and Agilon Health, the trusted partner empowering physicians formed a long-term partnership to improve senior patients' healthcare experiences through a new value-based primary care program.

In August 2023, Hill Physicians Medical Group, the largest independent physician association, expanded its partnership with the Chinese Community Health Plan (CCHP) which aims to broaden its choice of physicians.

Geographical Analysis

North America is Expected to Dominate the Global Market

North America is expected to hold the largest share of the market due to the increase in the aging population in US and Canada. For instance, according to the Population Reference Bureau, 2023, the number of Americans ages 65 and older is estimated to increase from approximately 58 million in 2022 to more than 82 million by 2050. Furthermore, according to Forbes Data, 2023, it is estimated that almost one-quarter of the Canadian population will be 65 years and older by 2051.

Market Segmentation

By Type
• Single Specialty
• Multi-Specialty

By Ownership
• Physician Owned
• Hospital Owned
• Others

By Specialty
• Primary Care
• Orthopedics
• Pediatrics
• Radiology
• Cardiology
• Dermatology
• Ophthalmology
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In August 2022, R1 RCM Inc., a leading provider of technology solutions, agreed to be the exclusive provider of revenue cycle management services for the Emergency Physicians Professional Association (EPPA). The partnership is expected to optimize clinical and operational performance for EPPA.

Competitive Landscape

The major global players in the physicians group market include Johns Hopkins Physicians, Mount Sinai Doctors, Cleveland Clinic, Northwell Health, HCA Healthcare, The Permanente Medical Group, Inc., Mayo Clinic Physicians, Penn Medicine Physicians, Ascension Medical Group, and HealthCare Partners IPA among others.

Why Purchase the Report?
• To visualize the physicians group market segmentation based on type, ownership, specialty and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of physicians group market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global physicians group market report would provide approximately 58 tables, 61 figures, and 186 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies