What is Cardiac Care Insurance Market?
Cardiac care insurance covers various expenses for the treatment of cardiovascular diseases. The average cost of cardiac disease treatments has been rising continuously over the past few years and having cardiac care insurance helps insurance holders to mitigate the loss of income as a claim amount. The high risk of cardiovascular diseases in young people in their late 20s and early 30s due to changes in lifestyle, stress, bad eating habits, and insufficient physical exercise will create noteworthy growth for the market. However, more and more people are shifting towards the critical illness plans that cover a wide range of critical illnesses like cancer, heart diseases, liver, stroke, etc., and also provide more coverage than a cardiac care insurance policy which may hamper the growth of the market.
|Unit||Value (USD Million)|
|Key Companies Profiled||Care Health Insurance (India), Star Health Insurance (India), Niva Bupa (India), HDFC Ergo (India), TD Insurance (Canada), Cigna (United States), Chubb Limited (Switzerland), Zurich Insurance Group (Switzerland), GeoBlue (United States), AXA (France), Assicurazioni Generali (Italy) and Allianz (Germany)|
The market study is being classified and major geographies with country level break-up. Care Health Insurance (India), Star Health Insurance (India), Niva Bupa (India), HDFC Ergo (India), TD Insurance (Canada), Cigna (United States), Chubb Limited (Switzerland), Zurich Insurance Group (Switzerland), GeoBlue (United States), AXA (France), Assicurazioni Generali (Italy) and Allianz (Germany) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Analyst at AMA have segmented the market study of Global Cardiac Care Insurance market by Type, Application and Region.
On the basis of geography, the market of Cardiac Care 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.
- Growing Number of Cardiac Patients Across the globe Due to Bad Eating Habits, Lack of Physical Exercise, and Busy Lifestyle
- Continuously Increasing Medical and Healthcare Cost and Death Rates Due to Cardiac Conditions Will Drive the Market
- Emerging Trend for Domiciliary Hospitalization or Remote Diagnostics Using New Technologies Among Patients After Covid-19 Pandemic
- Preference Toward the Critical Illness Insurance Policy Among the Population May Hamper the Growth of Cardiac Care Insurance
- Robust Growth of Patients Seeking Cardiovascular Diseases Treatment in India During and Post-Pandemic
- More Risk of Cardiovascular Diseases and High Propensity of Developing CHD in Men as Compared to Women
- Presence of a Large Number of Cardiac Care Insurance Providers in the Global Market Can Create Challenges
In September 2021, Star Health Insurance announced the launch of new cardiac care platinum and cancer care platinum policies. Cardiac care platinum insurance policy is available for individuals aged between 7 years and 70 years. The policy covers hospitalization expenses for cardiac and non-cardiac conditions after 30 days of policy inception.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Cardiac Care Insurance Providers, Insurance and Reinsurance Companies, Venture Capitalists and Private Equity Firms, Regulatory Bodies and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Cardiac Care Insurance Market?
"Growing Number of Cardiac Patients Across the globe Due to Bad Eating Habits, Lack of Physical Exercise, and Busy Lifestyle
" is seen as one of major growth factors of Cardiac Care Insurance Market in years to come.
2. Can we have customized study for Cardiac Care 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 Cardiac Care Insurance Market?
will lead Cardiac Care Insurance Market in coming years.