US Physician Groups Market Size worth USD 287.57 Billion in 2028

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According to Fortune Business Insights, 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

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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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.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/u-s-physician-groups-market-106510

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.

 

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