The global health insurance market is predicted to witness a compound annual growth rate of 3.52% during the forecast period to reach a total market size of US$1218.93 billion by 2023, increasing from US$990.45 billion in 2017. Health Insurance is an insurance solution which provides for medical and surgical expenses of a person who has taken this policy. It functions in two ways either it provides reimbursement of the expenditure incurred due to illness or injury or it pays a specific amount directly to care provider. The increase in medical cost or medical care expenses globally is driving the market for health insurance. Moreover, the rapid growth of chronic diseases among population across the globe such as heart disease, cancer, type 2 diabetes, and arthritis and rise in aging population has further contributed to the expansion of the market. However, the cost associated with the health insurance may act as a market constraint. Geographically, USA will be driving the market over the forecasted years owing to its peerless healthcare system in the world. Moreover, escalating disposable income and improvement of health standard system is estimated to impact the health insurance market in APAC positively
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Health Insurance value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Zurich, AXA, Allianz, AIA group Limited and Blue Cross Blue Shield Association among others.
The Health Insurance market has been analysed through following segments:
Health Maintenance Organization (HMO) plans
Preferred Provider Organization (PPO) plans
Exclusive Provider Organization (EPO) plans
By Service Provider
Middle East and Africa