Drug Discount Card Market
Drug Discount Card Market Forecasts to 2030 - Global Analysis By Type (Pharmacy Benefit Managers (PBMs), Retail Pharmacy Chains, Direct-to-Consumer Platforms, Non-Profit Organizations and Other Types), By Therapeutic Category (Cardiovascular Drugs, Diabetes Drugs, Pain Medications and Other Therapeutic Categories), By Sales Channel, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $27.2 BN |
|
Projected Year Value (2030) |
US $52.3 BN |
|
CAGR (2023 - 2030) |
9.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Drug Discount Card Market is accounted for $27.2 million in 2023 and is expected to reach $52.3 million by 2030 growing at a CAGR of 9.8% during the forecast period. A Drug Discount Card is a program that offers reduced prices on prescription medications. These cards are offered by various sources like employers, insurance companies, and patient assistance programs. They can help individuals save significantly, especially those without insurance or high deductibles.
According to data published by National Institute of Health in 2019, only 31% of the millennial population was aware of prescription discount programs.
Market Dynamics:
Driver:
Rising healthcare costs
Healthcare expenses escalate there is an increasing need for affordable medication. Drug discount programs and platforms emerge as a crucial solution, offering consumers discounted prices on prescription medications. These programs bridge the gap between rising drug costs and the financial constraints of patients, ensuring better access to essential medications. The rising demand for cost-effective healthcare solutions, coupled with the prevalence of chronic diseases, positions the Drug Discount Market as a vital player in addressing the affordability challenges within the healthcare sector.
Restraint:
Limited drug coverage
Despite the presence of drug discount programs, a substantial number of medications may not be covered, leaving patients with high out-of-pocket expenses. This limitation can disproportionately affect individuals with chronic conditions who require ongoing medication. Additionally, the lack of coverage hampers the effectiveness of drug discount initiatives, limiting their impact on improving healthcare affordability. As a result, patients may face financial barriers to accessing essential medications, compromising their adherence to treatment plans and overall health outcomes.
Opportunity:
Partnering with healthcare providers
By forming strategic partnerships with medical institutions, pharmaceutical companies and drug discount platforms can enhance accessibility to discounted medications for patients. Such collaborations enable healthcare providers to offer cost-effective prescription solutions, promoting patient adherence and overall wellness. Additionally, partnerships contribute to a more streamlined healthcare ecosystem, fostering better communication and coordination between providers and drug discount platforms, ultimately improving the affordability and availability of essential medications for a broader population.
Threat:
Data security concerns
The industry increasingly adopts digital platforms and electronic health records for managing drug discounts and patient information, the risk of cyber threats and data breaches escalates. Unauthorized access to patient data not only jeopardizes individuals' privacy but also exposes them to potential identity theft and fraud. Moreover, compromised data integrity can undermine the efficacy of discount programs and erode consumer trust in the healthcare system.
Covid-19 Impact:
The Drug Discount Market faced significant disruptions due to the COVID-19 pandemic as healthcare systems worldwide shifted focus to pandemic response. Lockdowns, supply chain disruptions, and reduced healthcare facility visits impacted the market. Patients faced challenges in accessing discounted medications, and pharmaceutical companies adjusted their strategies to navigate the evolving landscape. Despite short-term setbacks, the pandemic underscored the importance of affordable medications, potentially driving future innovations and policies to enhance drug discount programs, making healthcare more accessible and resilient in the face of global uncertainties.
The retail pharmacy chains segment is expected to be the largest during the forecast period
Over the projection period, it is predicted that the retail pharmacy chains segment will experience a larger market size. These chains leverage their extensive network and purchasing power to negotiate lower prices from drug manufacturers, passing on the cost savings to consumers. As consumers seek affordable healthcare solutions, retail pharmacy chains play a crucial role in providing discounted prescription medications and over-the-counter drugs. Their widespread presence and competitive pricing contribute significantly to shaping the landscape of the Drug Discount Market, catering to the needs of diverse and cost-conscious healthcare consumers.
The offline segment is expected to have the highest CAGR during the forecast period
During the forecast period, it is expected that the offline segment will experience lucrative growth. This may involve physical coupons, in-person interactions at pharmacies, or other non-digital means of obtaining discounts on prescription medications. Despite the increasing prevalence of online platforms, offline channels remain relevant for individuals who prefer or have limited access to digital resources. This dual approach, combining both offline and online strategies, ensures a broader reach and accessibility for consumers seeking cost-effective options in the Drug Discount market.
Region with largest share:
The North America region is expected to witness largest market share. The region witnesses the proliferation of digital health platforms and prescription discount programs, offering consumers discounted prices on pharmaceuticals. With rising healthcare expenses and the need for affordable treatment options, these initiatives in North America aim to address financial barriers to medication adherence, ensuring better health outcomes for individuals. The market is driven by a concerted effort to make healthcare more accessible and affordable for a broader population in the region.
Region with highest CAGR:
During the forecast period, a rapid growth rate is anticipated in the Asia-Pacific region due to factors such as rising healthcare expenditures, increasing awareness of prescription discounts, and expanding pharmaceutical markets in countries like China and India. The demand for affordable medications has fuelled the adoption of drug discount programs, benefiting both consumers and healthcare providers. The region's evolving healthcare landscape and the pursuit of cost-effective solutions contribute to the thriving Drug Discount Market in Asia Pacific, offering opportunities for pharmaceutical companies and healthcare service providers to address accessibility and affordability challenges.
Key players in the market
Some of the key players in Drug Discount Card market include GoodRx, SingleCare, WellCard Savings, RxSaver, Optum Perks, Kroger Prescription Savings Club, ScriptSave, Walmart Rx Savings Program, Prescription Hope, FamilyWize, NeedyMeds and Humana.
Key Developments:
In September 2023, GoodRx, a U.S.-based healthcare company that operates a telemedicine platform and free-to-use website and mobile app that track prescription drug prices, announced a partnership with MedImpact, an independent, trend-focused pharmacy benefit manager (PBM), to integrate its drug coupons at the point of sale.
In July 2023, CVS Caremark, a CVS Health company and GoodRx, a leading resource for healthcare savings and information, announced the launch of Caremark Cost SaverTM to help lower pharmacy out-of-pocket drug costs for CVS Caremark clients' members.
In January 2023, Amazon Pharmacy, the company offering free, two-day home delivery of prescriptions to Amazon Prime subscribers introduced RxPass a US$5 prescription subscription new Prime membership benefit from Amazon Pharmacy that provides patients with affordable access to generic medications that treat more than 80 common health conditions for just US$5 a month.
Types Covered:
• Pharmacy Benefit Managers (PBMs)
• Retail Pharmacy Chains
• Direct-to-Consumer Platforms
• Non-Profit Organizations
• Other Types
Therapeutic Categories Covered:
• Cardiovascular drugs
• Diabetes drugs
• Pain medications
• Mental health medications
• Cancer drugs
• Other Therapeutic Categories
Sales Channels Covered:
• Online
• Offline
End Users Covered:
• Generic Drugs
• Branded Drugs
• Specialty Medications
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Drug Discount Card Market, By Type
5.1 Introduction
5.2 Pharmacy Benefit Managers (PBMs)
5.3 Retail Pharmacy Chains
5.4 Direct-to-Consumer Platforms
5.5 Non-Profit Organizations
5.6 Other Types
6 Global Drug Discount Card Market, By Therapeutic Category
6.1 Introduction
6.2 Cardiovascular Drugs
6.3 Diabetes Drugs
6.4 Pain Medications
6.5 Mental Health Medications
6.6 Cancer Drugs
6.7 Other Therapeutic Categories
7 Global Drug Discount Card Market, By Sales Channel
7.1 Introduction
7.2 Online
7.3 Offline
8 Global Drug Discount Card Market, By End User
8.1 Introduction
8.2 Generic Drugs
8.3 Branded Drugs
8.4 Specialty Medications
8.5 Other End Users
9 Global Drug Discount Card Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 GoodRx
11.2 SingleCare
11.3 WellCard Savings
11.4 RxSaver
11.5 Optum Perks
11.6 Kroger Prescription Savings Club
11.7 ScriptSave
11.8 Walmart Rx Savings Program
11.9 Prescription Hope
11.10 FamilyWize
11.11 NeedyMeds
11.12 Humana
List of Tables
1 Global Drug Discount Card Market Outlook, By Region (2021-2030) ($MN)
2 Global Drug Discount Card Market Outlook, By Type (2021-2030) ($MN)
3 Global Drug Discount Card Market Outlook, By Pharmacy Benefit Managers (PBMs) (2021-2030) ($MN)
4 Global Drug Discount Card Market Outlook, By Retail Pharmacy Chains (2021-2030) ($MN)
5 Global Drug Discount Card Market Outlook, By Direct-to-Consumer Platforms (2021-2030) ($MN)
6 Global Drug Discount Card Market Outlook, By Non-Profit Organizations (2021-2030) ($MN)
7 Global Drug Discount Card Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Drug Discount Card Market Outlook, By Therapeutic Category (2021-2030) ($MN)
9 Global Drug Discount Card Market Outlook, By Cardiovascular Drugs (2021-2030) ($MN)
10 Global Drug Discount Card Market Outlook, By Diabetes Drugs (2021-2030) ($MN)
11 Global Drug Discount Card Market Outlook, By Pain Medications (2021-2030) ($MN)
12 Global Drug Discount Card Market Outlook, By Mental Health Medications (2021-2030) ($MN)
13 Global Drug Discount Card Market Outlook, By Cancer Drugs (2021-2030) ($MN)
14 Global Drug Discount Card Market Outlook, By Other Therapeutic Categories (2021-2030) ($MN)
15 Global Drug Discount Card Market Outlook, By Sales Channel (2021-2030) ($MN)
16 Global Drug Discount Card Market Outlook, By Online (2021-2030) ($MN)
17 Global Drug Discount Card Market Outlook, By Offline (2021-2030) ($MN)
18 Global Drug Discount Card Market Outlook, By End User (2021-2030) ($MN)
19 Global Drug Discount Card Market Outlook, By Generic Drugs (2021-2030) ($MN)
20 Global Drug Discount Card Market Outlook, By Branded Drugs (2021-2030) ($MN)
21 Global Drug Discount Card Market Outlook, By Specialty Medications (2021-2030) ($MN)
22 North America Drug Discount Card Market Outlook, By Country (2021-2030) ($MN)
23 North America Drug Discount Card Market Outlook, By Type (2021-2030) ($MN)
24 North America Drug Discount Card Market Outlook, By Pharmacy Benefit Managers (PBMs) (2021-2030) ($MN)
25 North America Drug Discount Card Market Outlook, By Retail Pharmacy Chains (2021-2030) ($MN)
26 North America Drug Discount Card Market Outlook, By Direct-to-Consumer Platforms (2021-2030) ($MN)
27 North America Drug Discount Card Market Outlook, By Non-Profit Organizations (2021-2030) ($MN)
28 North America Drug Discount Card Market Outlook, By Other Types (2021-2030) ($MN)
29 North America Drug Discount Card Market Outlook, By Therapeutic Category (2021-2030) ($MN)
30 North America Drug Discount Card Market Outlook, By Cardiovascular Drugs (2021-2030) ($MN)
31 North America Drug Discount Card Market Outlook, By Diabetes Drugs (2021-2030) ($MN)
32 North America Drug Discount Card Market Outlook, By Pain Medications (2021-2030) ($MN)
33 North America Drug Discount Card Market Outlook, By Mental Health Medications (2021-2030) ($MN)
34 North America Drug Discount Card Market Outlook, By Cancer Drugs (2021-2030) ($MN)
35 North America Drug Discount Card Market Outlook, By Other Therapeutic Categories (2021-2030) ($MN)
36 North America Drug Discount Card Market Outlook, By Sales Channel (2021-2030) ($MN)
37 North America Drug Discount Card Market Outlook, By Online (2021-2030) ($MN)
38 North America Drug Discount Card Market Outlook, By Offline (2021-2030) ($MN)
39 North America Drug Discount Card Market Outlook, By End User (2021-2030) ($MN)
40 North America Drug Discount Card Market Outlook, By Generic Drugs (2021-2030) ($MN)
41 North America Drug Discount Card Market Outlook, By Branded Drugs (2021-2030) ($MN)
42 North America Drug Discount Card Market Outlook, By Specialty Medications (2021-2030) ($MN)
43 North America Drug Discount Card Market Outlook, By Other End Users (2021-2030) ($MN)
44 Europe Drug Discount Card Market Outlook, By Country (2021-2030) ($MN)
45 Europe Drug Discount Card Market Outlook, By Type (2021-2030) ($MN)
46 Europe Drug Discount Card Market Outlook, By Pharmacy Benefit Managers (PBMs) (2021-2030) ($MN)
47 Europe Drug Discount Card Market Outlook, By Retail Pharmacy Chains (2021-2030) ($MN)
48 Europe Drug Discount Card Market Outlook, By Direct-to-Consumer Platforms (2021-2030) ($MN)
49 Europe Drug Discount Card Market Outlook, By Non-Profit Organizations (2021-2030) ($MN)
50 Europe Drug Discount Card Market Outlook, By Other Types (2021-2030) ($MN)
51 Europe Drug Discount Card Market Outlook, By Therapeutic Category (2021-2030) ($MN)
52 Europe Drug Discount Card Market Outlook, By Cardiovascular Drugs (2021-2030) ($MN)
53 Europe Drug Discount Card Market Outlook, By Diabetes Drugs (2021-2030) ($MN)
54 Europe Drug Discount Card Market Outlook, By Pain Medications (2021-2030) ($MN)
55 Europe Drug Discount Card Market Outlook, By Mental Health Medications (2021-2030) ($MN)
56 Europe Drug Discount Card Market Outlook, By Cancer Drugs (2021-2030) ($MN)
57 Europe Drug Discount Card Market Outlook, By Other Therapeutic Categories (2021-2030) ($MN)
58 Europe Drug Discount Card Market Outlook, By Sales Channel (2021-2030) ($MN)
59 Europe Drug Discount Card Market Outlook, By Online (2021-2030) ($MN)
60 Europe Drug Discount Card Market Outlook, By Offline (2021-2030) ($MN)
61 Europe Drug Discount Card Market Outlook, By End User (2021-2030) ($MN)
62 Europe Drug Discount Card Market Outlook, By Generic Drugs (2021-2030) ($MN)
63 Europe Drug Discount Card Market Outlook, By Branded Drugs (2021-2030) ($MN)
64 Europe Drug Discount Card Market Outlook, By Specialty Medications (2021-2030) ($MN)
65 Europe Drug Discount Card Market Outlook, By Other End Users (2021-2030) ($MN)
66 Asia Pacific Drug Discount Card Market Outlook, By Country (2021-2030) ($MN)
67 Asia Pacific Drug Discount Card Market Outlook, By Type (2021-2030) ($MN)
68 Asia Pacific Drug Discount Card Market Outlook, By Pharmacy Benefit Managers (PBMs) (2021-2030) ($MN)
69 Asia Pacific Drug Discount Card Market Outlook, By Retail Pharmacy Chains (2021-2030) ($MN)
70 Asia Pacific Drug Discount Card Market Outlook, By Direct-to-Consumer Platforms (2021-2030) ($MN)
71 Asia Pacific Drug Discount Card Market Outlook, By Non-Profit Organizations (2021-2030) ($MN)
72 Asia Pacific Drug Discount Card Market Outlook, By Other Types (2021-2030) ($MN)
73 Asia Pacific Drug Discount Card Market Outlook, By Therapeutic Category (2021-2030) ($MN)
74 Asia Pacific Drug Discount Card Market Outlook, By Cardiovascular Drugs (2021-2030) ($MN)
75 Asia Pacific Drug Discount Card Market Outlook, By Diabetes Drugs (2021-2030) ($MN)
76 Asia Pacific Drug Discount Card Market Outlook, By Pain Medications (2021-2030) ($MN)
77 Asia Pacific Drug Discount Card Market Outlook, By Mental Health Medications (2021-2030) ($MN)
78 Asia Pacific Drug Discount Card Market Outlook, By Cancer Drugs (2021-2030) ($MN)
79 Asia Pacific Drug Discount Card Market Outlook, By Other Therapeutic Categories (2021-2030) ($MN)
80 Asia Pacific Drug Discount Card Market Outlook, By Sales Channel (2021-2030) ($MN)
81 Asia Pacific Drug Discount Card Market Outlook, By Online (2021-2030) ($MN)
82 Asia Pacific Drug Discount Card Market Outlook, By Offline (2021-2030) ($MN)
83 Asia Pacific Drug Discount Card Market Outlook, By End User (2021-2030) ($MN)
84 Asia Pacific Drug Discount Card Market Outlook, By Generic Drugs (2021-2030) ($MN)
85 Asia Pacific Drug Discount Card Market Outlook, By Branded Drugs (2021-2030) ($MN)
86 Asia Pacific Drug Discount Card Market Outlook, By Specialty Medications (2021-2030) ($MN)
87 Asia Pacific Drug Discount Card Market Outlook, By Other End Users (2021-2030) ($MN)
88 South America Drug Discount Card Market Outlook, By Country (2021-2030) ($MN)
89 South America Drug Discount Card Market Outlook, By Type (2021-2030) ($MN)
90 South America Drug Discount Card Market Outlook, By Pharmacy Benefit Managers (PBMs) (2021-2030) ($MN)
91 South America Drug Discount Card Market Outlook, By Retail Pharmacy Chains (2021-2030) ($MN)
92 South America Drug Discount Card Market Outlook, By Direct-to-Consumer Platforms (2021-2030) ($MN)
93 South America Drug Discount Card Market Outlook, By Non-Profit Organizations (2021-2030) ($MN)
94 South America Drug Discount Card Market Outlook, By Other Types (2021-2030) ($MN)
95 South America Drug Discount Card Market Outlook, By Therapeutic Category (2021-2030) ($MN)
96 South America Drug Discount Card Market Outlook, By Cardiovascular Drugs (2021-2030) ($MN)
97 South America Drug Discount Card Market Outlook, By Diabetes Drugs (2021-2030) ($MN)
98 South America Drug Discount Card Market Outlook, By Pain Medications (2021-2030) ($MN)
99 South America Drug Discount Card Market Outlook, By Mental Health Medications (2021-2030) ($MN)
100 South America Drug Discount Card Market Outlook, By Cancer Drugs (2021-2030) ($MN)
101 South America Drug Discount Card Market Outlook, By Other Therapeutic Categories (2021-2030) ($MN)
102 South America Drug Discount Card Market Outlook, By Sales Channel (2021-2030) ($MN)
103 South America Drug Discount Card Market Outlook, By Online (2021-2030) ($MN)
104 South America Drug Discount Card Market Outlook, By Offline (2021-2030) ($MN)
105 South America Drug Discount Card Market Outlook, By End User (2021-2030) ($MN)
106 South America Drug Discount Card Market Outlook, By Generic Drugs (2021-2030) ($MN)
107 South America Drug Discount Card Market Outlook, By Branded Drugs (2021-2030) ($MN)
108 South America Drug Discount Card Market Outlook, By Specialty Medications (2021-2030) ($MN)
109 South America Drug Discount Card Market Outlook, By Other End Users (2021-2030) ($MN)
110 Middle East & Africa Drug Discount Card Market Outlook, By Country (2021-2030) ($MN)
111 Middle East & Africa Drug Discount Card Market Outlook, By Type (2021-2030) ($MN)
112 Middle East & Africa Drug Discount Card Market Outlook, By Pharmacy Benefit Managers (PBMs) (2021-2030) ($MN)
113 Middle East & Africa Drug Discount Card Market Outlook, By Retail Pharmacy Chains (2021-2030) ($MN)
114 Middle East & Africa Drug Discount Card Market Outlook, By Direct-to-Consumer Platforms (2021-2030) ($MN)
115 Middle East & Africa Drug Discount Card Market Outlook, By Non-Profit Organizations (2021-2030) ($MN)
116 Middle East & Africa Drug Discount Card Market Outlook, By Other Types (2021-2030) ($MN)
117 Middle East & Africa Drug Discount Card Market Outlook, By Therapeutic Category (2021-2030) ($MN)
118 Middle East & Africa Drug Discount Card Market Outlook, By Cardiovascular Drugs (2021-2030) ($MN)
119 Middle East & Africa Drug Discount Card Market Outlook, By Diabetes Drugs (2021-2030) ($MN)
120 Middle East & Africa Drug Discount Card Market Outlook, By Pain Medications (2021-2030) ($MN)
121 Middle East & Africa Drug Discount Card Market Outlook, By Mental Health Medications (2021-2030) ($MN)
122 Middle East & Africa Drug Discount Card Market Outlook, By Cancer Drugs (2021-2030) ($MN)
123 Middle East & Africa Drug Discount Card Market Outlook, By Other Therapeutic Categories (2021-2030) ($MN)
124 Middle East & Africa Drug Discount Card Market Outlook, By Sales Channel (2021-2030) ($MN)
125 Middle East & Africa Drug Discount Card Market Outlook, By Online (2021-2030) ($MN)
126 Middle East & Africa Drug Discount Card Market Outlook, By Offline (2021-2030) ($MN)
127 Middle East & Africa Drug Discount Card Market Outlook, By End User (2021-2030) ($MN)
128 Middle East & Africa Drug Discount Card Market Outlook, By Generic Drugs (2021-2030) ($MN)
129 Middle East & Africa Drug Discount Card Market Outlook, By Branded Drugs (2021-2030) ($MN)
130 Middle East & Africa Drug Discount Card Market Outlook, By Specialty Medications (2021-2030) ($MN)
131 Middle East & Africa Drug Discount Card Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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