Kara Lee · December 2024
MMM: 3Q24 Digital Prescriptions in Germany Drive Redcare's MAU Growth
Healthcare digitization laws in Germany are driving increased MAU and download growth to Redcare’s app, as potential customers shift to mobile Rx refills. ST data finds that Redcare’s jump in app adoption could continue, given that similar trends in the US propelled CVS to see extended MAU growth even after 10+ years of digitized prescriptions.
Key Takeaways:
Per ST data, CVS has seen consistent YoY MAU growth since 1Q21, up an average of 15% YoY, potentially signifying that as US consumers continue to embrace digital prescriptions, pharmacies benefit from increased mobile adoption
As CVS added millions of MAUs over the last two years, its percentage of retained users has stayed fairly consistent at 64%, an increase of 1ppt since 2021, which suggests that once a consumer sets up their prescriptions with their desired pharmacy, they are unlikely to switch providers
Redcare has seen impressive app growth due to the new legislation in Germany, with its reported orders since 1Q21 boasting a .88 correlation with ST QoQ global downloads
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