GCC Critical Illness Insurance Market Research Report By Application (Cancer, Heart Attack, Stroke, others) - Forecast to 2035

GCC Critical Illness Insurance Market Overview

As per MRFR analysis, the GCC Critical Illness Insurance Market Size was estimated at 5.83 (USD Billion) in 2023. The GCC Critical Illness Insurance Market Industry is expected to grow from 6.5(USD Billion) in 2024 to 15 (USD Billion) by 2035. The GCC Critical Illness Insurance Market CAGR (growth rate) is expected to be around 7.899% during the forecast period (2025 - 2035).

Key GCC Critical Illness Insurance Market Trends Highlighted

The GCC Critical Illness Insurance Market is experiencing growth driven by a rise in awareness surrounding health issues and the increasing prevalence of chronic diseases in the region. The growing population, particularly in countries like Saudi Arabia and the UAE, has led to higher demand for healthcare services, prompting consumers to seek critical illness insurance as a safeguard against unforeseen medical expenses. Additionally, the government's initiatives to improve health services, such as the implementation of health insurance mandates in the GCC countries, are significant market drivers. There are substantial opportunities in the GCC market, as insurers are focusing on product innovation and customization to better meet the needs of diverse populations.

By customising policies to accommodate local customs and preferences, it is possible to attract a broader customer base. The proliferation of digital technology in the region has enabled insurers to capitalise on online platforms to improve consumer engagement and streamline service delivery, thereby simplifying the process of comprehending policies and options for individuals. Insurance providers are integrating wellness programs and preventive care into their offerings to encourage healthier lifestyles, as evidenced by recent trends. This change not only benefits consumers by promoting improved health management, but it also potentially reduces claims for insurers.

Additionally, as businesses in the GCC prioritise employee well-being, corporate critical illness insurance plans are becoming more prevalent, resulting in customised group coverage solutions. This is consistent with the overarching objective of improving work environments and fostering health among the workforce, which necessitates the inclusion of critical illness insurance in employee benefits packages throughout the region.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

GCC Critical Illness Insurance Market Drivers

Increasing Prevalence of Chronic Diseases

The GCC Critical Illness Insurance Market Industry is being significantly driven by the rising prevalence of chronic diseases such as diabetes, heart problems, and various forms of cancer. Recent statistics indicate that diabetes prevalence in the GCC region has reached alarming rates, with approximately 16.3% of the adult population affected, according to the International Diabetes Federation. Furthermore, the World Health Organization reports a 12% increase in cancer cases in the Middle East in the last five years, intensifying the need for critical illness coverage.

Leading healthcare organizations, such as the Gulf Health Council, are pushing for more preventive measures and patient support, which can stimulate the growth of critical illness insurance products tailored to cater to the needs arising from these health challenges. As awareness regarding the cost implications of treating critical illnesses rises, individuals and families are likely to seek more comprehensive insurance solutions, thereby propelling the GCC Critical Illness Insurance Market.

Government Initiatives and Health Policies

Government initiatives aimed at enhancing health and wellness are also contributing to the growth of the GCC Critical Illness Insurance Market Industry. Many GCC nations are implementing healthcare restructuring plans and promoting preventive healthcare measures, which encourage citizens to consider critical illness coverage as part of their financial planning. For example, the Saudi Vision 2030 plan includes strategies to improve healthcare access and quality, which indirectly emphasizes the importance of insurance products.

The UAE’s recent policies promoting health insurance for expatriates and residents further underline the necessity for critical illness coverage as part of healthcare benefits. Such governmental focus on health security fosters a favorable environment for insurance companies, thereby accelerating market expansion.

Increasing Healthcare Costs

The rapidly increasing healthcare costs in the GCC region are creating a compelling need for critical illness insurance. Reports from the GCC Health Council indicate that healthcare expenditure in the region is projected to grow at a CAGR of approximately 7.4% over the next decade. With treatments for chronic illnesses often costing several thousands of dollars, individuals are realizing the financial impact linked to sudden medical emergencies. This recognition is driving the demand for critical illness coverage, as people seek to mitigate their expenses through insurance.

Therefore, established insurance companies in the region, such as Bupa Arabia and Allianz, are developing new critical illness plans to address these rising costs, reflecting the dynamic nature of the GCC Critical Illness Insurance Market.

GCC Critical Illness Insurance Market Segment Insights

Critical Illness Insurance Market Application Insights

The GCC Critical Illness Insurance Market encompasses a variety of applications that serve as crucial financial safeguards in the event of severe health challenges. This segment is essential for providing individuals with peace of mind, knowing they have coverage for life-threatening illnesses. Across the region, there's a notable rise in awareness about the importance of insuring against critical ailments, with specific focus on conditions like Cancer, Heart Attacks, and Strokes. Cancer remains a significant health concern in the GCC, with rising incidence rates underscoring the need for specific insurance products tailored to meet the financial burdens associated with treatment.

Insurers are increasingly recognizing the growing demand for Cancer-related products, reflecting the escalating healthcare costs in both public and private sectors. Furthermore, Heart Attacks and Strokes represent major health risks prevalent in the region, driven by lifestyle factors and genetic predispositions. This creates opportunities for insurance providers to develop specialized policies that cater to these conditions, offering products that cover hospitalization, surgical procedures, and rehabilitation costs. The increasing focus on preventive healthcare and early detection methods in the GCC is expected to further enhance the relevance of critical illness insurance, prompting more individuals to consider such policies as part of their financial planning.

Other conditions falling within this application category may include rare diseases and chronic illnesses, which, while not as widely discussed, present significant risks that can have catastrophic financial implications for families. Overall, the segmentation of the GCC Critical Illness Insurance Market based on application illustrates a growing recognition of the diverse health risks residents face, driving both demand for coverage and the development of innovative products to address these needs effectively. The combination of healthcare advancements and changing demographics in the GCC regions bolsters the necessity for comprehensive critical illness coverage, making it an ever-important segment of the insurance market with potential for substantial growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

GCC Critical Illness Insurance Market Key Players and Competitive Insights

The GCC Critical Illness Insurance Market has witnessed significant growth and development in recent years, driven by increasing awareness of health risks and the rising prevalence of chronic diseases across the region. Critical illness insurance provides policyholders with financial support when diagnosed with life-threatening illnesses, which has become increasingly relevant as more individuals are recognizing the need for additional health coverage beyond traditional medical insurance. As the competitive landscape evolves, key players in the market are implementing various strategies to enhance their product offerings, improve customer engagement, and ensure better service delivery. Factors such as regulatory changes, consumer preferences, and technological advancements are shaping the competitive dynamics of the GCC Critical Illness Insurance Market, compelling insurers to innovate and differentiate themselves to capture a larger market share.

Qatar Insurance Company has established itself as a leading player in the GCC Critical Illness Insurance Market, effectively capitalizing on its reputation for reliability and comprehensive offerings. The company has a strong market presence in Qatar and the broader GCC region, benefiting from its well-established brand and extensive distribution network. Its strengths lie in the robust financial stability and integrity maintained over decades, enabling it to offer a range of critical illness products that cater to the specific needs of customers. Notably, the company focuses on developing user-friendly policies that provide clear coverage details and terms, thus fostering trust and customer loyalty. Furthermore, it places a strong emphasis on customer service, actively engaging with policyholders to address their needs effectively, which reinforces its competitive advantage in the market.

Zurich Insurance Group has also made significant strides in the GCC Critical Illness Insurance Market, known for its innovative products and strong commitment to customer well-being. The company provides a variety of critical illness insurance solutions that are tailored to the diverse needs of consumers in the region, focusing on comprehensive coverage for major illnesses and offering additional health services. Zurich's market presence is bolstered by its extensive expertise and a solid global network, which helps in localizing its offerings to suit GCC consumers better. The strengths of Zurich Insurance Group include its financial strength and resilience, which are critical for maintaining customer confidence, alongside its commitment to continuous improvement and adaptation to market changes. Moreover, Zurich has pursued strategic mergers and acquisitions in the region, enhancing its capability to deliver exceptional service and broaden its portfolio, thus positioning itself favorably among competitors. The combination of high-quality products, localized services, and a strong financial foundation enables Zurich to maintain a competitive edge in the GCC Critical Illness Insurance Market.

Key Companies in the GCC Critical Illness Insurance Market Include:

• Qatar Insurance Company


• Zurich Insurance Group


• Medgulf


• Al Ain Ahlia Insurance Company


• Daman National Health Insurance Company


• Abu Dhabi National Insurance Company


• Allianz


• Aetna


• Saudi Arabian Insurance Authority


• SABB Takaful


• Oman Insurance Company


• Bahrain National Insurance Company


• MetLife


• AXA Gulf


• Emirates Insurance Company

GCC Critical Illness Insurance Market Industry Developments

There have been notable developments in the GCC Critical Illness Insurance Market, reflecting growing awareness and demand for health protection products across the region. Qatar Insurance Company, for instance, has expanded its offerings to provide more comprehensive critical illness coverage, addressing the rising incidence of non-communicable diseases. In December 2022, Zurich Insurance Group revised its critical illness policies to include coverage for emerging health risks, which has positively impacted its market share. 

Additionally, in early 2023, a merger between Al Ain Ahlia Insurance Company and Daman National Health Insurance Company was announced, aimed at consolidating their resources to enhance product offerings in critical illness insurance. Furthermore, the overall growth in market valuation for key players like MetLife and AXA Gulf has been attributed to increased government initiatives promoting health insurance in the GCC. 

In February 2023, the Saudi Arabian Insurance Authority implemented new guidelines to boost critical illness coverage, promoting transparency and customer confidence. These trends suggest a robust and evolving market landscape, with significant efforts being made by industry leaders to adapt to consumer needs and improve product accessibility.

Critical Illness Insurance Market Segmentation Insights

Critical Illness Insurance Market Application Outlook

• Cancer


• Heart Attack


• Stroke


• others

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	5.83(USD Billion)
MARKET SIZE 2024	6.5(USD Billion)
MARKET SIZE 2035	15.0(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	7.899% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Qatar Insurance Company, Zurich Insurance Group, Medgulf, Al Ain Ahlia Insurance Company, Daman National Health Insurance Company, Abu Dhabi National Insurance Company, Allianz, Aetna, Saudi Arabian Insurance Authority, SABB Takaful, Oman Insurance Company, Bahrain National Insurance Company, MetLife, AXA Gulf, Emirates Insurance Company
SEGMENTS COVERED	Application
KEY MARKET OPPORTUNITIES	Growing awareness of health risks, Increasing prevalence of chronic diseases, Expansion of digital health platforms, Rising disposable incomes, Government healthcare initiatives and support
KEY MARKET DYNAMICS	rising healthcare costs, increasing awareness, growing aging population, regulatory changes, digital insurance platforms
COUNTRIES COVERED	GCC