The Largest Segment Driving The Growth Of Drug Discount Card Market...

The Largest Segment Driving The Growth Of Drug Discount Card Market

Posted 2023-11-24 09:35:12

SWOT Analysis

Strength: Drug discount cards offer significant savings on prescription drugs for patients. The discounts can range from 15-75% lowering the financial burden.
Weakness: The discounts and coverage offered may vary by pharmacy and drug. Not all drugs are eligible for discounts.
Opportunity: With healthcare affordability a major issue, there is scope for greater awareness and uptake of drug discount cards across regions. The market has potential to grow in developing nations.
Threats: Changes in regulations could impact the scope and use of discount cards. Rising competition from generic drug manufacturers poses threats.

Key Takeaways

The Global Drug Discount Card Market Growth is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing healthcare costs worldwide. The market size for 2023 is estimated to be US$ 15.5 Mn.

Regional analysis: North America dominates the global drug discount market owing to the presence of major players and higher acceptance of digital drug discount programs due to rising healthcare costs in the region. The Asia Pacific region is expected to witness fastest growth over the forecast period supported by growing medical tourism coupled with increasing focus of players entering emerging markets in the region.

Key players operating in the drug discount card market are GoodRx, SingleCare, WellCard Savings, RxSaver, Optum Perks, Kroger Prescription Savings Club, ScriptSave, Walmart Rx Savings Program, Prescription Hope, FamilyWize. These players are focusing on partnerships with pharmacies and increasing digitization efforts to expand their customer base.