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
List of Key Players of the U.S. Healthcare Discount Plan Market
• New Benefits, Ltd.
• Access One Consumer Health, Inc.
• CAREINGTON International Corporation
• Alliance Healthcard of Florida, Inc.
• United Health Group
• American Dental Care Partners, Inc.
• Blue Cross and Blue Shield Association
• DentalPlans.com, Inc.
• Sam’s West, Inc.
• Humana, Inc.
• Discounts by Design
• Xpress Healthcare
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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