$458.0bn
$XX.Xbn
2m
256k
$XXX.Xbn
Specialist physicians have had an expanding role in the broader health sector. Demographic trends are behind this shift, as an aging population requires specialty care to treat ailing organ, musculoskeletal and neurological systems common with older age. At the same time, rising incomes and broader insurance coverage have also facilitated access to specialty care providers. However, the pandemic abruptly disrupted the industry's growth as patient volumes dropped, creating long care backlogs. While pent-up demand provided the opportunity for specialty providers to recover revenue losses in 2021, cost pressures and workforce shortages suppressed a profit recovery. Though pandemic concerns have alleviated, the long-term effects of it continue to strain specialty practices' finances, workforce and infrastructure. Still, revenue has been expanding at a CAGR of 1.2% to an estimated $457.9 billion over the past five years, with revenue expected to rise by 0.7% in 2024.
Industry revenue has grown at a CAGR of 1.2 % over the past five years, to reach an estimated $458.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
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There are no companies that hold a large enough market share in the Specialist Doctors in the US industry for IBISWorld to include in this product.
Industry revenue is measured across several distinct product and services lines, including Obstetrics and gynecology , Anesthesiology and Psychiatry. Obstetrics and gynecology is the largest segment of the Specialist Doctors in the US.
Improving alternative procedures are alleviating work for obstetricians and gynecologists
A specialist doctor is a physician whose practice is limited to a particular branch of medicine or surgery. This industry includes enterprises or health practitioners with a Doctor of Medicine (MD) or Doctor of Osteopathy Medicine (DO) degree. These individuals primarily practice specialized medicine, such as anesthesiology, oncology, ophthalmology or surgery. This industry does not include physicians who work in internal, family and pediatric medicine.
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NAICS 621112 - Specialist Doctors in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Specialist physicians have benefited from an expanding role in healthcare. Specialists address an aging population's rising medical needs, increasing spending on specialty ca...
Learn about an industry's products and services, markets and trends in international trade.
Adults aged 65 and older represent the bulk of specialists' patient volumes. Age-related health issues and complex medical conditions found in older adults require more ongoi...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Metro areas have higher concentrations of specialty physicians. Specialty care providers benefit from dense populations, referral networks and employee pools in busy areas.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Differentiation is essential in saturated markets. When patients can choose between specialty practices, providers must differentiate through services, reputation and technol...
Learn about the performance of the top companies in the industry.
The scope of specialty care supports a fragmented industry. Specialists’ expertise is critical to treating conditions spanning medical fields, limiting any company’s ability ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
A dizzying number of federal and state regulations oversee every aspect of a specialty practice. Noncompliance with regulations isn’t an option, meaning practices failing to ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Cost pressures are suppressing profit growth. A steep demand for specialty care post-pandemic hasn’t been to offset labor shortages, inflation, tech investments and an evolvi...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Specialist Doctors in the US industry in United States is $458.0bn in 2024.
There are 256k businesses in the Specialist Doctors in the US industry in United States, which has declined at a CAGR of 0.6 % between 2019 and 2024.
The market size of the Specialist Doctors in the US industry in United States has been growing at a CAGR of 1.2 % between 2019 and 2024.
Over the next five years, the Specialist Doctors in the US industry in United States is expected to grow.
Providing emergency medicine services and Providing radiology and diagnostic medicine services are part of the Specialist Doctors in the US industry.
The level of competition is moderate and steady in the Specialist Doctors in the US industry in United States.