"Designing Growth Strategies is in our DNA"
Health insurance is a type of insurance that provides coverage for a person’s healthcare expenses. The rising prevalence of chronic illness and their treatment poses a financial burden on the individual and the country. The increasing healthcare expenses, including bed charges, cost of hospitalization and pharmacy, and consultation charges burn a hole in the patient’s pocket. Health reimbursement can thus help reduce the out of pocket expenses. This the major reason for the increasing demand for health insurance. Even the government of various countries are coming with schemes and policies that cover more and more beneficiaries at a lower premium. The health insurance industry is witnessing a major boom as it has increased the affordability of people for quality healthcare. With the provision of cashless hospitalizations and an increase in network hospitals, patients can avail healthcare services even at the time of emergency.
Key Market Driver -
Active government efforts to provide health coverage
Key Market Restraint -
Chances of fraudulent claims resulting in stringent norms and verifications
Global health insurance market growth is being driven by the increase in hospitalizations expenses, active government efforts to provide health coverage, and the rising prevalence of chronic diseases. Furthermore, the provision of providing health insurance to the employees and an increase in the number of private insurance providers are also major factors contributing to the expansion of the market during the forecast period.
However, chances of fraudulent claims resulting in stringent norms and verifications and lack of awareness of health insurance are the major factors that can hinder the growth of the health insurance market.
By payer type, the market is segmented into public and private. Based on the provider type, the market is segmented into hospitals and ambulatory surgery centers, specialty clinics, diagnostic centers, and others. Based on network type, the market is categorized into Exclusive Provider Organization (EPO), Health Maintenance Organization (HMO), Point of Service (POS), and Preferred Provider Organization (PPO).
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The major companies covered in the global health insurance market report include ASSICURAZIONI GENERALI S.P.A., Allianz, United HealthCare Services, Inc., Aetna Inc., Cigna, Health Net, LLC., Pacific Prime Insurance Brokers Limited (PPIB), and other players.
The global health insurance market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the market throughout the forecast period primarily due to the favorable health reimbursement policies, high cost of medical products, and provision of providing mandatory health insurance to the employees. In Europe, the market is anticipated to expand owing to the increasing number of beneficiaries under government health insurance plans.
To gain extensive insights into the market, Request for Customization
Asia Pacific is projected to register a remarkable growth in the health insurance market which can be attributed to the increasing income and spending capacity of the population, rising prevalence of diseases, and an increase in the number of private insurance providers. In the Middle East and Africa and Latin America, the market is likely to propel during the forecast period due to the unmet needs of the patient population and active efforts to increase the accessibility to healthcare services.
By Payer Type
By Provider Type
By Network Type
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry