India, September 2024 — WhiteGlove, an innovative concierge healthcare platform, has announced the launch of its services aimed at providing seamless, international care coordination for the elderly population. Headquartered in India, WhiteGlove is set to revolutionize elderly healthcare with its comprehensive digital platform, which will officially launch in 2025.
Designed as an end-to-end solution, WhiteGlove will offer 24/7 telehealth consultations and personalized support to patients across the globe. One of the platform’s key features is the integration of artificial intelligence (AI), which will assist healthcare professionals in monitoring patients, analyzing data, and supporting treatments more effectively.
The AI-powered system will enhance patient services by providing real-time insights, improving decision-making processes, and ensuring continuous care for the elderly. This digital advancement is expected to reshape the way healthcare is delivered to senior citizens, offering both patients and caregivers an advanced, user-friendly interface to address their medical needs.
With the increasing demand for senior care and the need for coordinated healthcare services across borders, WhiteGlove’s platform is poised to make a significant impact on global healthcare delivery.
Market Overview
The global concierge medicine market was estimated at US$ 17.40 billion in 2023 and is projected to grow to US$ 44.28 billion by 2034, rising at a compound annual growth rate (CAGR) of 8.55% from 2024 to 2034. The demand for concierge medicine is increasing because a lot of patients need constant primary care due to underlying health issues. In such cases, concierge medicine becomes beneficial for both the patient and the healthcare professional, and hence a lot of people opt for it in a long run.
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Concierge Medicine Market: Continuous Care
There are several names given to concierge medicine, including cash-only practice, membership medicine, direct care, boutique medicines, direct primary care, retainer-based medicine, and platinum practice. It is a symbiotic relationship between a primary care physician and a patient in which the patient pays an annual fee and, in exchange, gets enhanced care, commitment towards time, and availability. Though the concept is the same, the services provided, structure, and other aspects of concierge medicine may vary depending on the needs of the patients. The concierge medicine market is growing because a large population needs continuous care and assistance from their primary care physician, and it becomes hectic for the patients to book appointments and do other formalities for health checkups. Concierge practice not only saves time but also saves effort and costs and increases overall patient satisfaction.
How can AI Improve the Concierge Medicine Market?
Technological advancements, especially artificial intelligence (AI), have revolutionized concierge medicine. AI has the potential to significantly enhance the quality and delivery of healthcare. Healthcare professionals use AI to provide personalized healthcare by leveraging AI for data analysis and gaining deeper insights into the patient’s genetics, medical history, lifestyle factors, and preferences. Apart from providing insights about the patient, AI is also used in the interpretation of complex medical data such as X-rays and MRI scans. Machine learning can be implemented to analyze patterns based on patient data, which can provide important insights about potential healing risks or disease progression. Healthcare professionals also leverage AI in patient monitoring, which helps in determining any vital changes that otherwise may go unnoticed. Along with healthcare, AI is also implemented in maintaining patient records, system & data management, and other administrative work. AI and machine learning have a diverse range of applications in concierge medicine that professionals can use for better health management.
For instance,
- In September 2024, Tempus AI, Inc. is a technology company that is spearheading the use of AI to improve patient care and precision medicine. Today, the company announced the beta launch of Olivia, an AI-enabled personal health concierge app designed to help people take proactive measures to organize, manage, and organize their own health data in a holistic manner.
Chronic Conditions Drive the North America’s Market
By region, North America dominated the concierge medicine market share by 38% in 2023. The increased occurrence of chronic illnesses and the need for individualized care and treatment, in addition to government policies that promote concierge prototype testing, are suggested causes for this. As per the 2022 National Diabetes Statistics Report published by the Centers for Disease Control and Prevention, about 37.3 million Americans—or 11.3% of the total population—have diabetes. Just 28.5% of the population, or around 28.7 million people, have a diabetes diagnosis. Additionally, according to the research, as of 2022, there will be around 8.5 million people with diabetes who are not yet identified. Concierge services and medication are becoming more widely available via the incorporation of various technologies and the introduction of new platforms.
Concierge Medicine Today estimates that between 5,000 and 7,000 doctors’ offices offer concierge care in the US; the majority of these doctors are primary care physicians. A rising number of doctors in the US are switching to concierge medicine, either to give their patients more individualized treatment or to avoid burnout. Meanwhile, concierge medicine is expected to continue expanding even though it still makes up only a tiny portion of the total healthcare provided in the United States. Both patients and doctors agree that in-person care is preferable, and investments in technology encourage more individualized treatment and increase patient participation.
Geriatric Population is Driving the Asia Pacific’s Market
By region, Asia Pacific is expected to grow at the fastest rate during the forecast period. A considerable change towards increasing patient-centricity within healthcare systems is being driven by factors such as rising healthcare expenses, rapid urbanization, an aging population, an increase in lifestyle illnesses, and rising disposable incomes in Asia Pacific nations. Highly profitable expansion prospects may be found in nations like China, India, Japan, South Korea, and so forth. One of the main reasons that APAC is the region with the quickest rate of growth is that more people are traveling there for medical treatments and using concierge services in places like Thailand, Malaysia, and Indonesia. Because telehealth solutions make it easier to offer treatment across borders, they are significantly helping to solve the problem of restricted local supply. The Asia Pacific, concierge medicine market, is anticipated to grow at an extraordinary CAGR over the forecast years because of supportive government policies and efforts.
India has a growing elderly population that will increase the demand for concierge medicine in the future. Although India has the most youthful population, the country’s aging rate is accelerating. By 2050, there will be an astounding 347 million senior people (those 60 and over) worldwide, up from the present 153 million. This change in the population is more than just data. It’s a profoundly disruptive social revolution with far-reaching effects. Due to the increased likelihood of healthcare services consumption, medical costs are more than twice as high for this demographic. Although meeting the demands of this sizeable older population is difficult, it also offers a chance for the senior care sector, currently valued at US$ 7 billion (~ 57,881 crores), to expand. The Government of India has been putting several programs, policies, and action plans into place to deal with this demographic transition as a result of realizing the potential and problems that come with an older population. Encouraging elders and their caregivers to be health literate, bolstering geriatric healthcare within the current healthcare system, and creating unique accommodations for the elderly are ways to accomplish health empowerment and inclusion.
Recent Developments in the Concierge Medicine Market
- In July 2024, with a solution for the whole continent, Infinity Medical Concierge is Africa’s first and only medical concierge service. Recently, the company unveiled a new service designed especially for visitors from abroad visiting South Africa. In order to manage a person’s care in South Africa, Infinity Medical Concierge for Travelers collaborates with their travel insurance.
- In December 2022, Tampa General Hospital (TGH) is establishing a concierge primary health care practice on Florida’s East Coast as part of its dedication to providing the residents of Palm Beach County and the Treasure Coast with access to top-notch care. The first medical professional to join TGH Concierge Health is Dr. Laurie P. Rothman.
- In September 2022, the Greater Toronto Area (GTA) now offers personal home care services thanks to the introduction of Concierge Medical Consultants Inc. (“Concierge”), a wholly-owned subsidiary of ScreenPro Security Inc. The business intends to grow in the near future by moving to the Vancouver region.
