What is Child Health Insurance Market?
Child health insurance covers medical expenses incurred on hospitalization, vaccination, and clinical check-ups of children. Increase in food adulteration, pollution, and poor lifestyle & food habits, child’s are highly prone to various health problems. The insurance secures the health of a child by offering monetary support to the parents when the child falls sick, gets injured, or is diagnosed with a disease.
|Unit||Value (USD Million)|
|Key Companies Profiled||Acko General Insurance (India), Cigna Global Insurance (United Kingdom), American International Group (United States), GeoBlue Global Medical (United States), William Russell (United Kingdom), Zurich Insurance Group (Switzerland), Axa (France), International Medical Group (IMG) (United States) and Now Health International (China)|
The market study is being classified by Type (Family Floater Health Insurance and Individual Health Insurance for Child), by Application (Infants, Pre-teens and Teenagers) and major geographies with country level break-up. According to AMA, the Global Child Health Insurance market is expected to see steady growth rate.
Acko General Insurance (India), Cigna Global Insurance (United Kingdom), American International Group (United States), GeoBlue Global Medical (United States), William Russell (United Kingdom), Zurich Insurance Group (Switzerland), Axa (France), International Medical Group (IMG) (United States) and Now Health International (China) are some of the key players profiled in the study.
Global Child Health Insurance is a fragmented market due to the presence of various players. The players are focusing on investing more in launching policies and coverages. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Analyst at AMA have segmented the market study of Global Child Health Insurance market by Type, Application and Region.
On the basis of geography, the market of Child Health Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Surging Child Health Problems due to Poor Lifestyle and Food Habits
- Rapid Development in Health Maintenance Organizations, Preferred Provider Organizations, and Fee-For-Service with Prospective Utilization Review
- Raising Awareness of Child Health Insurance
- Technological developments such as Blockchain, Cloud Computing, and Big Data Analytics
- High Relying on Group Health Insurance Policy
- The Growing Population Worldwide will create Opportunities for the Child Health Insurance Market Growth
- The Rise in Consolidation within the Health Care Industry
- Concerns Related to the Deteriorating Distribution Structure
- Low Medical Insurance Coverage
Market Leaders and some development strategies
In 2019, Cigna Global Insurance kicks off Healthier Kids for Our Future, for USD 25 million five-year global initiative to improve the health and well-being of children. With this initiative, “Cigna’s goal is to set a course for children to live healthy lives. Children who go hungry are more likely to be in poor physical health, struggle with mental well-being, and suffer from preventable chronic conditions.”
In 2021, William Russell renews its international health insurance plans for 2021 which includes merging the BronzeLite plan with Bronze, low average inflationary premium increases for new customers, improvements to its cancer benefits on the Gold plan, and more flexibility with local nationals.
Key Target AudienceChild Health Insurance Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Child Health Insurance Market?
"Surging Child Health Problems due to Poor Lifestyle and Food Habits
" is seen as one of major growth factors of Child Health Insurance Market in years to come.
2. Can we have customized study for Child Health Insurance Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Child Health Insurance Market?
will lead Child Health Insurance Market in coming years.