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U.S. Physician Groups Market to Observe a CAGR of 4.8% from 2024 to 2032; Cleveland Clinic Partners with Holzer Center for Cancer Care to Expand Specialized Treatment Access in West Virginia

May 15, 2024 | Healthcare

The U.S. physician groups market size stood at USD 293.27 billion in 2023. The market value is slated to rise from USD 305.88 billion in 2024 to USD 444.79 billion by 2032 at a CAGR of 4.8% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “U.S. Physician Groups Market Size, Share & Industry Analysis, By Number of Physicians (2 to 10, 11 to 24, 25 to 50, and More than 50), By Ownership (Physician-owned, Hospital-owned, and Others), By Specialty (Primary Care, Pediatrics, OB/GYN, Ophthalmology, Orthopedics, Psychiatry, Cardiology, Dermatology, and Others), By Payor (Public Health Insurance and Private Health Insurance/Out-of-pocket), By Type (Single-specialty and Multi-specialty), By Region (Northeast, Southeast, Southwest, Midwest, and West), and Country Forecast, 2024-2032”

Physician groups are organizations where two or more than two physicians work and care is delivered to patients to enhance healthcare outcomes. Due to the rising healthcare expenditure and availability of favorable reimbursement policies, patients are anticipated to adopt earlier treatment for different chronic ailments, which is poised to bolster the demand for different groups of physicians to serve the large patient pool.

The COVID-19 pandemic significantly influenced the market in 2020. The market observed a problem in growth in 2020 due to the decline in revenue and number of patients and growth in expenses pertaining to COVID-19. However, the market witnessed normalcy during the post-pandemic scenario due to the gradual opening of hospitals & clinics and growth in adoption of telehealth services by physicians after the relaxation in pandemic regulations.

agilon health Inked a Deal with Lexington Clinic to Provide Value-based Primary Care Delivery

In February 2023, agilon health unveiled a partnership with Lexington Clinic, one of the leading multispecialty physician groups. This deal was aimed at releasing value-based primary care delivery for Central Kentucky Medicare patients.

Market Value to Grow Owing to Surging Inclination of Solo Practitioners toward Joining Physician Groups

The market is witnessing the rising inclination of solo practitioners toward being a part of physician groups. Certain benefits are offered by physician group practices, including reduced physician burnout, more financial stability, and others. Thus, these factors are poised to contribute to the U.S. physician groups market growth.

However, the growing employment of physicians by hospitals may impede market expansion.

Dominating Companies Emphasize Mergers and Acquisitions to Increase Their Share

In 2023, Optum, Inc. accounted for the second-largest market share. The expansion of its services and enhancement of brand presence is being focused on by the company through mergers, acquisitions, collaborations, and other strategies. Various strategic initiatives are being implemented by prominent companies to stand out from the competition. Some of these strategies include product development, partnerships, capacity expansions, and others. Many companies are also deploying mergers and acquisition strategies to boost their share and strengthen their position.

To get a detailed report summary and research scope of this market, click here:


List of Key Players Profiled:

  • The Permanente Medical Group (U.S.)

  • Optum, Inc. (U.S.)

  • Brigham and Women’s Hospital (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.)

  • Advocate Aurora Health (U.S.)

  • NYU Langone Hospitals (U.S.)

Key Industry Development

  • October 2022 – Cleveland Clinic partnered with the Holzer Center for Cancer Care to broaden access to specialized cancer treatments in West Virginia.

Further Report Findings:

  • From the regional perspective, the market is segregated into southeast, northeast, west, southwest, and midwest. The northeast segment is slated to capture the largest U.S. physician groups market share during the forecast period. The growing collaborations and partnerships among physician groups and others are driving the northeast segment expansion.

  • In terms of specialty, the market is classified into cardiology, OB/GYN, pediatrics, ophthalmology, primary care, orthopedics, dermatology, psychiatry, and others. The primary care segment witnessed the lion’s share in 2023. The growing primary physician care in the U.S. to cater to the rising demand for practitioners is fostering the segment expansion.

  • With respect to type, the market is segregated into multispecialty and single specialty. The multispecialty segment secured the largest share in the market in 2023 and is poised to witness the highest CAGR during the forecast period. The construction of new multispecialty physician group hospitals, coupled with less workload, is impelling the segment growth.

Table of Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 4.8% from 2024-2032


Value (USD Billion)


By Number of Physicians

  • 2 to 10

  • 11 to 24

  • 25 to 50

  • More than 50

By Ownership

  • Physician-owned

  • Hospital-owned

  • Others

By Specialty

  • Primary Care

  • Pediatrics

  • OB/GYN

  • Ophthalmology

  • Orthopedics

  • Psychiatry

  • Cardiology

  • Dermatology

  • Others

By Payor

  • Public Health Insurance

  • Private Health Insurance/Out-of-pocket

By Type

  • Single-specialty

  • Multi-specialty

By Region

  • Northeast

  • Southeast

  • Southwest

  • Midwest

  • West

U.S. Physician Groups Market
  • PDF
  • 2023
  • 2019-2022
  • 152


  • 2850

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