Global Healthcare Insurance Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Healthcare Insurance Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global healthcare insurance market has been segmented on the basis of provider, coverage type, health insurance plans, level of coverage, demographics, end-use, as well as regions and countries.
Healthcare insurance is an insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over numerous persons.
The general increase in the prevalence of chronic diseases, the growing incidence rates of non-communicable diseases, the high costs associated with healthcare, as well as the steady increase in the disposable incomes of individuals across the world are some of the primary factors that are expected to continue to fuel the revenue growth of the global healthcare insurance market over the next 10 years.
In light of the recent COVID-19 outbreak, the operations of numerous industries have been either temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. However, the global healthcare insurance market has witnessed an exponential surge in the revenue growth owing to factors such as, a spike in the number of new healthcare policies given the pandemic, the launch of COVID-19 tailored healthcare plans by market players, etc. This is also a phenomenon that is expected to continue for the foreseeable future for the same aforementioned reasons.
Another factor that is anticipated to play a crucial role in the gradual progression of the healthcare industry in the years to come, would be the increasing implementation of advanced analytics, machine learning, artificial intelligence, as well as other more innovative digital tools to optimize the interactions between healthcare insurance consumers and their respective service providers, ensuring greater transparency levels and improved efficiency.
Segmentation of the global healthcare insurance market is as follows:
In terms of provider, the public segment accounted for the maximum number of revenue shares of the global healthcare insurance market in 2020. However, the private segment is expected to register the fastest CAGR over the next decade. This can be attributed to the increasing number of private insurers offering economical customized products.
With regards to coverage type, the life insurance segment accounted for the highest number of revenue shares of the global healthcare insurance market in 2020, and is expected to continue doing so in the years to come. This can be attributed to the numerous benefits these policies offer their consumers. The term insurance segment is also slated to index consider revenue growth over the forecast period.
On the basis of health insurance plans, the Preferred Provider Organization (PPO) segment accounted for the highest number of revenue shares in 2020. Although, the Point-of-Service segment is anticipated to register the fastest rate of revenue growth in the coming years.
With respect to level of coverage, the silver health plans segment accounted for the majority number of revenue shares in 2020. However, the gold plans segment is expected to index the fastest rate of revenue growth over the next 10 years. This can be attributed to the increasing prevalence of chronic diseases, as well as growing costs associated with the use of healthcare facilities.
Based on demographics, the adult segment accounted for the majority number of revenue shares in 2020, and is anticipated to continue doing so for the remainder of the forecast period. The senior segment accounted or the second-highest number of revenue shares in 2020.
In terms of end-use, the individual segment accounted for the maximum number of revenue shares in 2020. The corporate segment is also expected to index considerable revenue growth over the next decade.
Regional Segmentation and Analysis:
North America accounted for the highest number of revenue shares of the global healthcare insurance market in 2020, and is expected to continue to do so over the course of this forecast period. This can be attributed to the vast presence industry players offering a host of healthcare insurance products in this region. The markets in Europe and the Asia Pacific regions are also anticipated to index considerable rates of revenue growth respectively over the next 10 years.
Segmentation of the Global Healthcare Insurance Market:
Segmentation by Provider:
Segmentation by Coverage Type:
- Life Insurance
- Term Insurance
Segmentation by Health Insurance Plans:
- Health Maintenance Organization (HMO) plans
- Preferred Provider Organization (PPO)
- Exclusive Provider Organization (EPO)
- Point of Service (POS)
- High Deductible Health Plan (HDHP) plans
Segmentation by Level of Coverage:
Segmentation by Demographics:
Segmentation by End-Use:
Segmentation by Regions:
- North America
- South America
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- United Health Group Incorporated
- Aetna Inc.
- Anthem Inc.
- Aviva Plc
- Allianz SE
- Centene Corp.
- CVS Health Corporation
- Humana Inc.
- Kaiser Foundation (KFF)
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