U.S. Healthcare Discount Plan Market Growth & Trends
The U.S. healthcare discount plan market size is expected to reach USD 3.3 billion by 2027 and is expected to expand at a CAGR of 9.6% from 2020 to 2027, according to a new report by Grand View Research, Inc. Rising healthcare costs, increase in the prevalence of lifestyle-related diseases, and high out-of-pocket expenditures are driving the adoption of healthcare discount plans to promote affordable treatment and curb healthcare costs in U.S.
Increasing number of investments, new package launches, public-private partnerships, joint ventures, and mergers & acquisitions among key payers and providers to deliver affordable healthcare solution are expected to boost market growth. Moreover, increase in demand for improving treatment quality and outcomes and providing coordinated patient care is further fueling market growth. For instance, in June 2019, United Healthcare launched United Healthcare Hearing, a new service that offers affordable and quality hearing solutions. The company also donated 20,000 reusable silicone plugs to fire departments and police nationwide as part of a public awareness campaign.
Increasing demand for low-cost vision care, dental care, chiropractic care, hearing aids, and prescription drugs plan for individuals as well as families that are not covered under insurance is anticipated to drive the demand for healthcare discount plans, thereby positively impacting the market growth in the near future. Moreover, rising burden of chronic diseases and other conditions and the need for affordable and hassle-free treatment are further boosting the demand for healthcare discount plans.
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U.S. Healthcare Discount Plan Market Report Highlights
By service, the others segment held the largest revenue share of almost 20.0% in 2019 owing to availability of advanced discount plans and additional benefits offered on diabetic supplies, X-Rays, medical supplies, PET, MRI, and CT scans, endoscopies and mammography, laboratory tests and services
The dental care segment accounted for the second largest revenue share as of 2019
Prescription drugs and wellness plans are other key potential services that accounted for a substantial market share in 2019 owing to high demand from end users.
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U.S. Healthcare Discount Plan Market Segmentation
Grand View Research has segmented the U.S. healthcare discount plan market on the basis of service:
U.S. Healthcare Discount Plan Service Outlook (Revenue, USD Million, 2016 – 2027)
Health Advocate
Virtual Visits
Alternative Medicines
Prescription Drugs
Dental Care
Vision Care
Hearing Aids
Chiropractic Care
Nurse Services
Vitamins & Supplements
Wellness Plans
Podiatry Plans
Others
List of Key Players of the U.S. Healthcare Discount Plan Market
DMPOs
New Benefits, Ltd.
Access One Consumer Health, Inc.
CAREINGTON International Corporation
Ameriplan
Coverdell
Alliance Healthcard of Florida, Inc.
Marketer
United Health Group
American Dental Care Partners, Inc.
Blue Cross and Blue Shield Association
DentalPlans.com, Inc.
Sam’s West, Inc.
Humana, Inc.
Cigna
Freshbenies
Discounts by Design
Xpress Healthcare
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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