U.S. Healthcare Discount Plan Market Growth & Trends
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 Report Highlights
- The other services segment dominated the market in 2021 owing to the growing demand for advanced discount plans amalgamated with additional benefits covering diagnostics, diabetic supplies, laboratory tests, and endoscopies
- The virtual visits services segment is anticipated to register the fastest growth rate over the forecast years
- This growth can be attributed to the increasing availability of telemedicine services, such as online consultation, and 24/7 access to care professionals
- The dental care services segment accounted for the second-largest share of the overall revenue in 2021