Global Health Insurance Market Value to cross USD 4518.3 BN By 2026
Posted On November 02, 2020
A market research report anticipates the Global Health Insurance Market to reach USD 3298 BN in 2019. It is estimated to grow and reach USD 4518.3 BN mark by 2026. The report publisher, Value Market Research expects a CAGR of 4.6% during 2020 to 2026. Health insurance is the safest and most secure way to provide financial coverage for surgical and medical expenses when the insured is hospitalized. Rising costs of medical care advances and treatments that can lead to medical bankruptcy are the main impetus for the steady growth of the health insurance market. This market will witness a surge since it serves as a good cushion for unexpected, high medical costs that can be incurred in the event of an unexpected serious illness or injury. Compulsory health cover initiatives taken by governments will boost the market growth. Rising incidences of lifestyle diseases and growing economic diversification will further bolster the development of this market. The various concerns about this market are the higher policy costs and lack of coverage for all medical conditions.
Health insurance is a type of insurance that covers the whole or a part of the medical, surgical, prescription drug expenses and hospital visits incurred by a person suffering from any illnesses, injuries, or medical conditions. It generally covers the cost of doctors or emergency room visits, medicines, laboratory & other diagnostic tests other than specific exclusions. A contract between an insurance provider and an individual called the insurance policy is made. It involves a regular payment by the insured as per the terms of the agreement. A health insurance plan is generally tied up with a medical network to bring affordable, high-quality healthcare to the insured. Different types of insurance plans to meet specific insurance needs are available.
The first chapter of the report "Global Health Insurance Market Report By Provider (Private Providers, Public Providers), By Insurance Type (Disease Insurance, Medical Insurance, Income Protection Insurance), By Coverage Type (Lifetime Coverage, Term Coverage), By Demographics (Minor, Adults, Senior Citizen), By Network (Preferred Provider Organizations (PPOs), Point Of Service (POS), Health Maintenance Organizations (HMOs), Exclusive Provider Organizations (EPOs) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" gives the market introduction with a crisp summary of the report and goes in detailed revenue analysis bifurcated as per segments and regions in the subsequent chapters.
The study digs deep to identify the market drivers, restraints, opportunities and threats in the near future. By provider the market is divided into Private Providers, Public Providers. By Insurance type the market is segregated as Disease Insurance, Medical Insurance, Income Protection Insurance. By coverage Type the health insurance market is categorised as Lifetime Coverage, Term Coverage. By demographics the health insurance market is categorised as Minor, Adults, Senior Citizen. Based on network the health insurance market is segmented as Preferred Provider Organizations (PPOs), Point of Service (POS), Health Maintenance Organizations (HMOs), Exclusive Provider Organizations (EPOs).
The report identifies region which is expected to dominate the market over the next six years among all the regions studied in the report. North America, Europe, Latin America and Middle East & Africa are deeply researched in the report.
The Report Segments Global Health Insurance Market -
- Private Providers
- Public Providers
By Insurance Type
- Disease Insurance
- Medical Insurance
- Income Protection Insurance
By Coverage Type
- Lifetime Coverage
- Term Coverage
- Senior Citizen
- Preferred Provider Organizations (PPOs)
- Point of Service (POS)
- Health Maintenance Organizations (HMOs)
- Exclusive Provider Organizations (EPOs)
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Allianz Group, Assicurazioni Generali S.p.A., AIA Group Limited, Anthem, Inc., AXA, Equitable Life Insurance Company, China Life Insurance Company Limited, Munich Re, Ping An Insurance (Group) Company of China, Ltd., State Farm Group, Zurich Insurance Group.
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