PRIMARY CARE PHYSICIANS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Primary Care Physicians Market Size and Trends

Global Primary Care Physicians Market size is estimated to be valued at US$ 671.1 Bn in 2023 and is expected to reach US$ 913.9 Bn by 2030, exhibiting compound annual growth rate (CAGR) of 4.5% from 2023 to 2030.

Global Primary Care Physicians Market Regional Insights

Figure 1. Global Primary Care Physicians Market Share (%), By Region, 2023

Global Primary Care Physicians Market Trends

• Team-based and collaborative primary care models: There is a growing shift towards collaborative and team-based primary care models. Rather than solo practices, integrated primary care teams include physicians, nurse practitioners, care coordinators, health coaches, behavioral health specialists, pharmacists, and community health workers. This multidisciplinary approach ensures whole-person care while allowing physicians to operate at the top of their license. Group settings also enable sharing of best practices while reducing physician burnout. Collaborative models such as patient-centered medical homes and accountable care organizations are thus gaining prominence.
• Adoption of digital health and connected tools: Primary care physicians are increasingly adopting digital health technologies such as telehealth, mHealth apps, remote monitoring devices, wearables, and patient engagement platforms. For instance, asynchronous chatbots allow 24/7 patient access for basic concerns, while Remote patient monitoring (RPM) devices track chronic disease management. Tablet/smartphone-based tools aid clinical decision support, care planning and patient education. Electronic medical record (EMRs) integrate all patient data. Digital front door strategies also facilitate e-scheduling. Such technologies enhance convenience, access, and care quality. Government policies and incentives are further accelerating adoption. For instance, in September 2021, Mount Sinai Health System, a hospital network in New York City, launched MyMountSinai, a comprehensive smartphone application for patients. The MyMountSinai app is an online portal to Mount Sinai primary and specialty care physicians and services, assisting patients in managing their medical information, communicating with their doctors, and learning more about the Mount Sinai Health System's health services.
• Data-driven and value-based care: There is a shift towards data-driven, value-based care in primary care, thus moving away from reactive and fee-for-service models. Integrated EMR data, claims information, wearable health data and socioeconomic data enables identifying care gaps for high-risk patients. Analytics tools provide insights to inform care management across patient populations. Primary care practices are rewarding physicians based on value and outcomes vs solely service volume. Value-based payment models such as Accountable Care Organizations (ACOs) also allow primary care physicians to gain shared savings for quality and lower costs.
• Retail clinics and urgent care integration: Many primary care physicians and health systems are looking at partnerships with the growing retail clinic and urgent care industry. Collaboration can help address staffing challenges while directing low acuity patients to more accessible and lower-cost retail clinic settings. At the same time, information sharing enables better care co-ordination for complex patients. Consolidation is also evident, with large health systems looking to acquire physician practices and clinics. Vertically integrated models allow optimizing care delivery across the care continuum.