Health Insurance Market 2022, Size, Share, Analysis, Overview and Forecast to 2027 – InsuranceNewsNet


health insurance market

The size of the global health insurance market has reached 1,590 billion US dollars in 2021. In the meantime, IMARC Group expects the market to reach US$2,426.6 billion by 2027

SHERIDAN, WYOMING, UNITED STATES, November 10, 2022 / — According to the latest report from IMARC Group “Health Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which includes information on the global health insurance market share. ‘Health Insurance. The global health insurance market reached a value of 1,590 billion US dollars in 2021. In the meantime, IMARC Group expects the market to reach US$2,426.6 billion by 2027, posting a CAGR of 7.2% over the period 2022-2027.

Market Overview:

Health insurance covers the costs of medical treatment, such as ambulance costs, hospitalization, medication, doctor’s consultation costs, and maternity, dental and daycare costs. It protects an insured person against financial loss caused by a health emergency. It provides a cashless medical treatment center, tax advantages and faster reimbursements in case of emergency. It is offered by an employer, in which the premiums are partially paid by the employees and the rest is protected by the company. It is generally accessible in multiple arrangements for consumers, including private, public, and government health insurance, managed care plans, indemnity, and point-of-service (POS) plans.

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Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

Market trends:

Currently, the increasing prevalence of chronic diseases and viral infections, including hypertension, cancer, diabetes, heart disease, cystic fibrosis and cardiovascular disease (CVD), and cost inflation health services are among the main factors driving the demand for health insurance. around the world. The increasing aging population which is more prone to difficult medical situations is also positively influencing the market currently. Additionally, government agencies in many countries are taking initiatives to create awareness among the masses about health insurance, which is helping the market grow. Also, major players are introducing health insurance policies that offer the benefit of free annual and semi-annual health checkups with additional customization at low premium rates, which is driving the growth of the market.

In addition, the key players are focusing on the integration of insurance fraud detection systems to detect suspicious activities performed by insurance adjuster, agent and consumer for illegal gains in selling, l buying and underwriting insurance. These systems are integrated with advanced technologies, such as Artificial Intelligence (AI) and Internet of Things (IoT) solutions for leveraging self-learning models, automated business rules, data filtering, and more. images, text mining, network analysis, device identification and predictive analysis. . This, in turn, provides lucrative growth opportunities for key players operating in the industry. The market is also growing due to the growing number of insurance frauds including kidnapping, false medical records and inaccurate claims. Apart from this, there is an increase in the adoption of cloud-based services and big data analytics that have enabled seamless communication between involved parties, which is driving the growth of the market. Additionally, the rising preference for floating family health insurance among the masses and growing demand for health insurance in rural areas are expected to create a positive outlook for the market in the coming years.

Key Market Segmentation:

IMARC Group provides analysis of key trends in each sub-segment of the global health insurance market, as well as forecasts at the global, regional and country levels from 2022 to 2027. Our report has categorized the market based on vendor, type, plan type, demographics, and provider type.

Breakdown by supplier:

Private providers
Public providers

Breakdown by type:

Lifetime coverage
Term insurance

Breakdown by plan type:

Medical insurance
Critical illness insurance
Floating family health insurance

Breakdown by demographics:

Old person

Breakdown by type of supplier:

Preferred Supplier Organizations (PPOs)
Point of Service (POS)
Health Maintenance Organizations (HMOs)
Exclusive Supplier Organizations (EPO)

Market Breakdown by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, IndonesiaOthers)
Europe (Germany, France, UK, Italy, Spain, RussiaOthers)
Latin America (Brazil, MexicoOthers)
Middle East and Africa

Competitive landscape with key player:

Aetna Inc. (CVS Health Society)
AIA Group Limited
Allianz SE
Aviva SA
Berkshire Hathaway Inc.
Cigna Corporation
International Medical Group Inc. (Sirius International Insurance Group Ltd.)
Prudential Plc
United Health Group Inc.
Zurich Insurance Group Ltd.

Main highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market trends
Market drivers and success factors
Impact of COVID-19
Value chain analysis
Complete mapping of the competitive landscape

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Frequently Asked Questions (FAQ):

1. What is the size of the global health insurance market?

Answer: The global health insurance market was valued at 1,590 billion US dollars in 2021.

2. What is the expected growth rate of the global health insurance market?

Answer: We expect the global health insurance market to grow at a CAGR of 7.2% during the period 2022-2027.

3. What are the key factors driving the global health insurance market?

Answer: Rising prevalence of chronic diseases requiring hospitalization, along with rising healthcare costs, are some of the factors driving the global health insurance market.

If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.

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About Us

IMARC Group is a leading market research company providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

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