Industry Background:
Health Insurance is policy against medical and surgical expenses provided by the insurance company to the member who has taken that policy. This policy can be applied in two ways that provides repayment of the expenditure incurred due to illness or pays a specific amount directly to care provider. Expenses are paid to the member as per the benefits decided in the insurance agreement. Increasing medical care expenses and rapid growth of chronic diseases among population fuels the growth of the health insurance market.
The Global Healthcare Insurance market presents a comprehensive analysis of the Healthcare Insurance market by product type (Short-Term Health Insurance and Gap Insurance (Accident, Critical Illness, & Telemedicine)), by end-user/application (Public Sector, Private Sector and Stand-Alone Insurers), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. The key Players profiled in the report are Allianz (Germany), AXA (France), Nippon Life Insurance (Japan), American Intl. Group (United States), Aviva ( United Kingdom), Assicurazioni Generali (Italy), Cardinal Health (United States), State Farm Insurance (United States), Dai-ichi Mutual Life Insurance (Japan), Munich Re Group (Germany), Zurich Financial Services (Switzerland), Prudential (United States), Asahi Mutual Life Insurance (Japan), Sumitomo Life Insurance ( Japan), MetLife (United States), Allstate (United States), Aegon (Netherlands), Prudential Financial (United States) and New York Life Insurance (United States). Additionally, other players that are part of this comprehensive study are Aetna (United States), TIAA-CREF (United States), Mitsui Mutual Life Insurance (Japan), Royal & Sun Alliance (United Kingdom), Swiss Reinsurance (Switzerland), CNP Assurances (France), PingAn (China) and Cigna (United States).
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Billion) |
Key Companies Profiled | Allianz (Germany), AXA (France), Nippon Life Insurance (Japan), American Intl. Group (United States), Aviva ( United Kingdom), Assicurazioni Generali (Italy), Cardinal Health (United States), State Farm Insurance (United States), Dai-ichi Mutual Life Insurance (Japan), Munich Re Group (Germany), Zurich Financial Services (Switzerland), Prudential (United States), Asahi Mutual Life Insurance (Japan), Sumitomo Life Insurance ( Japan), MetLife (United States), Allstate (United States), Aegon (Netherlands), Prudential Financial (United States) and New York Life Insurance (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Healthcare Insurance Market Dynamics:
Attributes | Details |
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Growth Drivers | - increasing number of individuals with high income
- health security standards advancement
- rising chronic diseases among population
- increasing medical care expenses
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Influencing Trends | - increasing transparency in terms of insurance
- integrating solutions through data analytics and modeling techniques
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Restraints | - Undulating economic conditions
- comparatively less profit margins
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Road Blocks / Challenges | - competitive market
- high threat of new entrant
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Gaps & Opportunities | - digitization in accessing policies
- improving disposable income
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Regional Breakdown and Segment Analysis
This section of our report presents a realistic picture of the Global Healthcare Insurance industry. Investors and manufacturers can easily understand the inherent opportunities and challenges for their products in the geographical region of interest. For instance, while the United States holds majority of market share of the Healthcare Insurance, the Europe has emerged as a crucial market for several Healthcare Insurance brands.
The Plans, such as Health maintenance organizations (HMOs), is boosting the Healthcare Insurance market and is anticipated to experience a steady growth during the forecast period.
To survive and maintain their position in the market key players are adopting strategies like maintaining transparency in insurance policy and present them in comprehensive manner so as to make it easily understandable for the customers.
The regional segmentation covered in this report are:
South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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)