What Is The U.S. Healthcare Discount Plan Market Growth?
U.S. Healthcare Discount Plan Industry Overview
The U.S. healthcare discount plan market size is expected to reach USD 3.8 billion by 2030, registering a CAGR of 10.2% over the forecast period, according to a new report by Grand View Research, Inc. Growing chronic diseases burden, increasing health expenses, and rising out-of-pocket expenditures are boosting the demand for health/medical discount plans offering affordable treatment solutions. Market players are focusing on increasing investments, innovating products & services, collaborating & partnering with other players to deliver affordable and accessible treatment solutions. Furthermore, the growing demand for enhanced treatment quality and improved patient experience, which would drive clinical outcomes & coordinate patient care is further boosting the adoption of health/medical discount plans.
For instance, United Healthcare, in June 2019, launched UnitedHealthcare Hearing, an innovative service provider offering affordable, quality hearing solutions. Moreover, as a part of their public awareness campaign, United Healthcare donated 20,000 reusable silicone plugs to police departments and fire departments across the country. The growing presence of Discount Medical Plan Organizations (DMPOs) providing affordable medical plans for a wide array of services is expected to drive the market. A rise in demand for affordable dental care, vision care, hearing aids, prescription drugs, and chiropractic care for individuals as well as groups who lack insurance coverage is expected to drive the demand further and promote the development & growth of the market. The growing prevalence of chronic ailments and increasing health-consciousness are driving the need for hassle-free, affordable treatment solutions.
U.S. Healthcare Discount Plan Market Segmentation
Grand View Research has segmented the U.S. healthcare discount plan market based on service:
Based on the Service, the market is segmented into Health Advocate, Virtual Visits, Alternative Medicines, Prescription Drugs, Dental Care, Vision Care, Hearing Aids, Chiropractic Care, Nurse Services, Vitamins & Supplements, Wellness Plans, Podiatry Plans, and Others.
- The others segment consists of services, such as medical supplies, lab services, LASIK & ultrasound, diabetic supplies, laboratory tests, X-rays, MRI, CT scan, diagnostics, surgeries, urgent care, endoscopies, and mammography. Market players are devising discount plans coupled with additional benefits on these services and the growing awareness about the same among consumers is driving the growth of the segment.
- This is owing to the rising burden of chronic diseases, increasing healthcare costs & the growing need to reduce out-of-pocket expenses. Launch of new discount plans, increasing startup funding, and growing penetration of health insurance companies to market the discount plans offered by DMPOs, especially in the U.S., are among the factors estimated to boost the market growth in the coming years.
Key Companies & Market Share Insights
Key players are focusing on devising innovative product development strategies through mergers & acquisitions and collaborations to expand portfolios and strengthen the business position. For instance, in January 2020, Cigna and Oscar entered a strategic partnership to deliver commercial health solutions to small businesses, enabling them to expand their network & product choice, while remaining cost-effective. In June 2019, Optum acquired DaVita Medical Group serving more than 80 health plans to lower healthcare costs (primary, specialty, urgent, and surgical care) and improve patient experience & health. Some key participants in the U.S. healthcare discount plan market are:
Discount Medical Plan Organizations (DMPOs)
- Coverdell
- Access One Consumer Health, Inc.
- New Benefits, Ltd.
- Alliance Healthcard of Florida, Inc.
- Ameriplan
- CARRINGTON International Corp.
Marketer
- Cigna
- Sam’s West, Inc.
- United Health Group
- com, Inc.
- American Dental Care Partners, Inc.
- Humana, Inc.
- Blue Cross and BlueShield Association
- Xpress Healthcare
- Discounts by Design
- Freshbenies
Order a free sample PDF of the U.S. Healthcare Discount Plan Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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