Healthcare Insurance Market Global Analysis, Demand Overview, Growth Values, Business Statistics and Industry Forecast to 2023
Market Highlights:
The
global Health
Insurance Market is expected
to grow significantly during the forecast period. Health insurance offers
groups or individuals with cover for the medical costs of illness or accidents.
Health insurers also provide other products, such as long-term care insurance for critical illness. It is anticipated that
the market held a valuation of USD 137.4 billion in 2018 and is
projected to register a CAGR of 4.1% during the forecast period. The
increasing participation of key players is one of the key factors driving the
health insurance market. For example, Reliance Health Insurance, a subsidiary
of Reliance Capital, has received the necessary approvals from the Insurance Regulatory and Development Authority
of India (IRDAI) and has begun its
operations from December 2018.
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Key Players:
·
Integra Global
Health Limited
·
Blue Cross
·
Allianz SE
·
William Russell
·
International SOS
·
MediCare
International
·
IHI-Bupa
·
Aetna
·
Expacare
·
MultiNational
Underwriters
Segmentation:
·
The segmentation
of the global health insurance market has
been done into type, demographics, term, service providers and region.
·
The global market
for health insurance, by demographics, is segmented into minor, adult and senior
citizens.
·
Based on type, the
market is segmented into health maintenance organizations (HMOs), exclusive
provider organizations (EPOs), point-of-service (POS) plans and preferred
provider organizations (PPOs).
·
Based on the period, the market is segmented into life-time
coverage and term insurance. The healthcare status of the population is
directly linked with the economic development of a country.
·
Based on the service
providers, the market is segmented into public and private. Public health insurance is further segmented into Medicare
and Medicaid.
Regional
Analysis:
In the current
scope of the study, the market has been analyzed across four global regions,
namely the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The health
insurance market in the Americas has further been segmented into North America
and South America, with the North American market divided into the US and
Canada.
The European health
insurance market has been bifurcated into Western Europe and Eastern Europe.
Western Europe has been classified as Germany, France, the UK, Italy, Spain,
and the rest of Western Europe. The health insurance market in Asia-Pacific has
been segregated into Japan, China, India, South Korea, Australia, and the rest
of Asia-Pacific. The health insurance market in the Middle East & Africa
has been categorized as the Middle East and Africa.
On a regional basis, the health insurance market in the Asia-Pacific is
expected to be the fastest-growing during
the forecast period. Growing healthcare sector and government policies related
to health insurance, rise in prevalence of diseases, increasing awareness about
insurances regarding health issues are
driving the growth of the health
insurance market in the Asia-Pacific region.
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