Health Insurance Market Forecast and Trends Analysis Research Report 2020-2027

GMI Research expects the market to expand at a significant rate during the forecast period. This is mainly due to the growing healthcare expenditure, which is enabling people to spend effectively on their healthcare expenses and coverage for all treatment, such as critical illness with the low premium amount and large & small surgeries.

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Top Manufacturers in the Health Insurance Market:

  • Allianz
  • Anthem, Inc.
  • AIA Group Limited
  • China Life Insurance (Overseas) Company Limited
  • Cigna
  • Health Care Service Corporation
  • Highmark Inc.
  • United HealthCare Services, Inc.
  • WellCare Health Plans, Inc.

Health Insurance Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The growing healthcare expenditure, which is enabling people to spend effectively on their healthcare expenses due to the rising health concerns, is a major factor driving the growth of the global health insurance market size. Health insurance offers policyholders financial coverage for their medical expenses while they are hospitalized. Various types of medical expenses are treatment done for any injury, disease, physician consultation charges, and other physical or mental impairment. Furthermore, coverage for all treatments, such as critical illness with a low premium amount and large & small surgeries, is further augmenting the growth of the market. Moreover, there is the compulsory provision of health insurance for public and private sector employees, which is further propelling the growth of the health insurance market share in terms of revenue.

Most of the geriatric population is prone to chronic conditions, and senior citizens suffering from diseases that will need constant surgical procedures and critical monitoring. In addition to this, the geriatric population generally comes under the unproductive portion of the population and cannot afford expensive surgical procedures and long hospital stays, which is promoting them to opt for health insurance with multiple cost-effective policies, thus fuelling the market growth. The emergence of the COVID-19 pandemic has a positive influence on the growth of the health insurance market. The increasing medical expenses have influenced the demand for demand. This has encouraged insurance companies to come up with COVID-19 specific policies to meet their needs. The pandemic has accelerated the growth of the market with the launch of digital health products, thereby leading health insurance companies are significantly shifting towards seamless app/web-based processes.

Health Insurance Market Segmentation:

Segmentation by Providers:
  • Private Providers
  • Public Providers
Segmentation by Insurance Type:
  • Disease Insurance
  • Medical Insurance
  • Income Protection Insurance
Segmentation by Coverage Type:
  • Lifetime Coverage
  • Term Coverage
Segmentation by Demographics:
  • Minors
  • Adults
  • Senior Citizens
Segmentation by Region:
  • North America

o   United States of America

o   Canada

  • Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

  • Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

  • RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research’s extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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