Global Health and Medical Insurance Market Overview:
Health and medical insurance is an insurance policy. It is the process of insurance which ensure that cashless treatment as well as expense reimbursement, in case of any medical issues. Health and medical insurance covers expenses of some disease treatment and medical costs. Medical insurance is done through Agents & Brokers, Direct Writing and Bancassurance & Others. Increasing number of individuals with high income, health security standards advancement and rising chronic diseases among population will help to boost global health and medical insurance market. Some of the key players profiled in the study are Allianz (Germany), AXA (France), Nippon Life Insurance (Japan), American Intl. Group (United States), Aviva (United Kingdom), Cardinal Health (United States), State Farm Insurance (United States), Dai-ichi Mutual Life Insurance (Japan), Munich Re Group (Germany), Aegon (Netherlands) and Prudential Financial (United States). According to Market Analyst at AMA, the Global Health and Medical Insurance market may see a growth rate of 8.6%
On the basis of geography, the market of Health and Medical Insurance has been segmented into 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). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Insurance Provider, the sub-segment i.e. Hospital will boost the Health and Medical Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Man will boost the Health and Medical Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Number of Diseases
- Expansion of Healthcare Market
- Growing Health Awareness
- Increasing Government Support for Medical and Health Insurance
- Undulating Economic Conditions
- Rising Opportunities in Digitization of Accessing Policies
- Innovation in Insurance Schemes
Major Market Developments:
On 5th March 2018, AXA a leading insurance provider has acquired 100% of XL Group Ltd. a leading global Property & Casualty commercial lines insurer. The deal was established for 15.3 billion dollar.
According to, "HIPAA (Health Insurance Portability and Accountability Act) – HIPAA in correlation with PHI (Protected Health Information) requires healthcare organizations to ensure that applications are secure, and sensitive patient and business data is protected when in use, during transmission or when stored in a mobile device."
Health and Medical Insurance Provider, Healthcare Institutes, Medical Industry, Industry Associations and Experts, Private Research Organizations and Consulting Companies, Industry Associations, Government Market Research and Consulting Firm and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Health and Medical Insurance market on the basis of product [Disease Insurance and Medical Insurance] , application [Public Sector, Private Sector and Stand-alone Insurers], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Health and Medical Insurance market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Health and Medical Insurance industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Asahi Mutual Life Insurance (Japan), Sumitomo Life Insurance (Japan), MetLife (United States), Allstate (United States) and Assicurazioni Generali (Italy).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Health and Medical Insurance market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.