Drug Discount Card Market Share, Size, Trends, Industry Analysis Report, By Type (Generic Card, Branded Card); By Sales Channel; By Application; By Region; Segment Forecast, 2023- 2032

Drug Discount Card Market Share, Size, Trends, Industry Analysis Report, By Type (Generic Card, Branded Card); By Sales Channel; By Application; By Region; Segment Forecast, 2023- 2032

The global drug discount card market size is expected to reach USD 28.68 million by 2032, according to a new study by Polaris Market Research. The report “Drug Discount Card Market Share, Size, Trends, Industry Analysis Report, By Type (Generic Card, Branded Card); By Sales Channel; By Application; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Drug discount cards extend invaluable savings on prescription medications for those lacking prescription drug coverage. Issued by private entities or non-profits, these cards offer users substantial discounts ranging from 10-25%. Their key benefits encompass notable cost reductions, straightforward accessibility, and extensive coverage of both drugs and pharmacies.

The significant population of uninsured and underinsured individuals in the US, burdened by exorbitant prescription costs, stands as a pivotal driver for the drug discount card market. In 2021, data revealed that over 31 million Americans were without insurance coverage. Moreover, millions more grapple with underinsurance, facing high deductibles and copays. Absent sufficient prescription drug coverage, retail medication prices become overwhelmingly steep. Drug discount cards step in to alleviate this burden, rendering necessary medications more affordable through substantial discounts. For the uninsured, discount cards can curtail out-of-pocket expenses by an impressive 60%. This substantial target demographic heavily relies on discount cards to mitigate their prescription expenses, further propelling market growth.

Emerging markets in the Asia Pacific, Latin America, and Africa present substantial growth prospects for drug discount card companies. These regions often have significant underinsured and uninsured populations, largely due to comparatively lower healthcare infrastructure and spending compared to developed counterparts. The expenditure on medications out-of-pocket is notably high in these markets.

In response, local startups in these emerging markets are introducing inventive discount card programs and e-health platforms finely tailored to their unique healthcare landscapes. For example, in Africa, a mobile health application offers discounted prescriptions and telehealth services, while in India, a platform provides reduced-cost lab tests and medicines.

This burgeoning opportunity also extends to global discount card players, who can seize the potential for expansion by forging strategic partnerships with local entities in these high-growth emerging markets.

Drug Discount Card Market Report Highlights

Generic card segment is expected to grow at a highest CAGR during the projected period, on account of cost-effectiveness

Offline segment accounted for largest market share in 2022, which is mainly driven by more tangibility

Essential medicines segment held the significant market revenue share in 2022, mainly due to ease in accessibility, and lower prices of medicines

North America region dominated the market with majority share in 2022, owing to escalating healthcare costs, and government support

The global key market players include Blink Health, Coast2Coast Rx, GoodRx, HealthWarehouse.com, Inc., Inside Rx (Express Scripts)

Polaris Market Research has segmented the drug discount card market report based on type, sales channel, application, and region:

Drug Discount Card, Type Outlook (Revenue - USD Million, 2019 - 2032)

Generic Card

Branded Card

Drug Discount Card, Sales Channel Outlook (Revenue - USD Million, 2019 - 2032)

Online

Offline

Drug Discount Card, Application Outlook (Revenue - USD Million, 2019 - 2032)

Essential Medicines

Rare Diseases

Chronic Diseases

Others

Drug Discount Card, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa