ID: MRFR/HC/6755-HCR | February 2021 | Region: Global | 90 pages
Health Insurance Market Scenario
Global Health Insurance Market size is expected to register a CAGR of ~4.1% during the forecast period of 2019 to 2025 and will achieve USD 141.3 Billion in 2025 with a market value of USD 137.4 billion in 2018.
The increasing participation of key players is one of the key factors driving the health insurance market.
For example, Allianz Partners acquired 100% share capital of Servicios Compartidos Multiasistencia, SL from private equity funds managed by Portobello Capital, and marginal shareholders. Various other factors such as the increase in aging population and rise in health expenditure drive the growth of the market. In addition, rise in per capita disposable incomes of individuals and advancement in R&D in the field of medicine are also expected to propel the growth of the market. However, poor claim settlement track record and rigid rules hinder the market growth. The adoption of social media to create health awareness among the youth and research & development in pharmaceuticals is providing opportunities to the global health insurance market.
Segmentation
The global health insurance market is segmented based on demographics, type, term, service providers, and region.
The global market for health insurance, by demographics, has been divided into minor, adult and senior citizens. Adults aged 18–64, 69.0% (136.7 million) were covered by private health insurance plans in the first 9 months of 2018 in the US.
Based on type, the market has been segmented into health maintenance organizations (HMOs), exclusive provider organizations (EPOs), point-of-service (POS) plans, and preferred provider organizations (PPOs). A health maintenance organization (HMO), is a prepaid health plan. The health maintenance organization (HMO) member pays a monthly premium. In return, the health maintenance organization (HMO) offers wide-ranging health care facilities such as emergency care, hospital stays, surgery, laboratory (lab) tests, X-rays, doctor’s visits, and therapy
Based on the period, the market has been segregated into lifetime coverage and term insurance. The Patient Protection and Affordable Care Act (PPACA) or Obamacare, abolished lifetime maximum benefit clauses in healthcare policies wherever they relate to essential services. The Affordable Care Act legislation also eliminates the facility for health care insurers to place yearly maximums on essential services such as ambulatory patient services, maternity, pregnancy, and neonatal care, laboratory services, and others.
Based on the service providers, the market has been bifurcated into public and private. The public health insurance has been further sub-categorized as Medicare and Medicaid. The private health insurance has been sub-segmented into primary private health insurance, duplicate private health insurance, complimentary private health insurance, and supplementary private health insurance. The number of Americans registered in private healthcare plans has increased from 12.8% to 34% between 2004 and 2017.
In the current scope of the study, the segments mentioned above are covered across four global regions, namely the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The health insurance market in the Americas has further been segmented into North America and South America, with the North American market has been divided into the US and Canada. The European health insurance market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The health insurance market in Asia-Pacific has been categorized as Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The health insurance market in the Middle East & Africa has been segmented into the Middle East and Africa.
Key Players
Regional Market Summary
Global Health Insurance Market Share (%), by Region, 2018
Sources: MRFR Analysis
The Americas dominated the global market for health insurance owing to the increasing awareness among the people about chronic diseases and many players are coming up with new insurance ideas for the welfare of the individuals. The percentage of people with health insurance coverage for 2017 was 91.2 % in the US. The US continues to be the largest contributor to the complete growth of health premiums worldwide, driven by the expansion of coverage implemented with the Affordable Care Act.
In 2018, it was estimated that Europe stood second in the global health insurance market. Technological advancements, along with the availability of funding opportunities in research and innovation will support the growth of health insurance during the review period. Other factors such as a favorable reimbursement scenario, rise in government expenditure on healthcare, and increase in geriatric population in this region can be attributed to the market growth.
Asia-Pacific (APAC) is expected to witness a phenomenal growth in health insurance throughout the forecast period due to rising participation of market players in launching innovative health insurance policies and the growing demand for the treatment of chronic diseases, lenient regulations, adoption of innovative technologies, and rise in medical tourism. The fastest-growing regional market in APAC, mostly fueled by the efforts of companies in China and India to increase health insurance penetration, with China concentrating on its aging population and India on its rural population. Net profit margins in APAC are also the highest globally, led by smaller regional markets such as Hong Kong and Singapore.
On the other hand, the Middle East & Africa holds the least share in the global health insurance market due to the low economic development, especially within the African region.
Global Health Insurance Market, by Demographics
Global Health Insurance Market, by Type
Global Health Insurance Market, by Period
Global Health Insurance Market, by Service Providers
Global Health Insurance Market, by Region
Intended Audience
Frequently Asked Questions (FAQ) :
The health insurance market is projected to grow at a 4.1% CAGR between 2019-2025.
The Americas are predicted to have the largest share in the health insurance market.
The health insurance market is predicted to touch USD 141.3 billion by 2025.
Increase in healthcare expenditure and advancement in the field of medicine are boosting market growth.
Poor claim settlement track record may limit market growth.
Table of Contents
Chapter 1. Executive Summary
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Overview
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.2.1 R&D and Designing
5.2.2 Manufacturing
5.2.3 Distribution & Sales
5.2.4 Post-Sales Review
Chapter 6. Global Health Insurance Market, by Demographics
6.1 Overview
6.2 Minor
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
6.3 Adult
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
6.4 Senior Citizens
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
Chapter 7. Global Health Insurance Market, by Type
7.1 Overview
7.2 Health Maintenance Organizations (HMOs)
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
7.3 Exclusive Provider Organizations (EPOs)
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
7.4 Point-Of-Service (POS) Plans
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
7.5 Preferred Provider Organizations
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
Chapter 8. Global Health Insurance Market, by Period
8.1 Overview
8.2 Life-Time Coverage
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
8.3 Term Insurance
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
Chapter 9. Global Health Insurance Market, by Service Providers
9.1 Overview
9.2 Public
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
9.2.1 Medicare
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
9.2.2 Medicaid
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
9.3 Private
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
9.3.1 Primary Private Health Insurance
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
9.3.2 Duplicate Private Health Insurance
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
9.3.3 Complementary Private Health Insurance
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
9.3.4 Supplementary Private Health Insurance
Market Estimates & Forecast, by Region, 2020-2027
Market Estimates & Forecast, by Country, 2020-2027
Chapter 10. Global Health Insurance Market, by Region
10.1 Overview
10.2 Americas
10.2.1 North America
10.2.1.1 US
10.2.1.2 Canada
10.2.2 Latin America
10.3 Europe
10.3.1 Western Europe
10.3.1.1 Germany
10.3.1.2 France
10.3.1.3 Italy
10.3.1.4 Spain
10.3.1.5 UK
10.3.1.6 Rest of Western Europe
10.3.2 Eastern Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 South Korea
10.4.6 Rest of Asia-Pacific
10.5 Middle East & Africa
10.5.1 Middle East
10.5.2 Africa
Chapter 11. Company Landscape
11.1 Overview
11.2 Competitive Analysis
Chapter 12. Company Profile
12.1 Allianz
12.1.1 Company Overview
12.1.2 Demographics/Services Offered
12.1.3 Financial Overview
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.1.6 Key Strategies
12.2 IHI-Bupa
12.2.1 Company Overview
12.2.2 Demographics/Services Offered
12.2.3 Financial Overview
12.2.4 Key Developments
12.2.5 SWOT Analysis
12.2.6 Key Strategies
12.3 William Russell
12.3.1 Company Overview
12.3.2 Demographics/Services Offered
12.3.3 Financial Overview
12.3.4 Key Development
12.3.5 SWOT Analysis
12.3.6 Key Strategies
12.4 Aetna
12.4.1 Company Overview
12.4.2 Demographics /Services Offered
12.4.3 Financial overview
12.4.4 Key Developments
12.4.5 SWOT Analysis
12.4.6 Key Strategies
12.5 Blue Cross
12.5.1 Company Overview
12.5.2 Demographics /Services Offered
12.5.3 Financial Overview
12.5.4 Key Developments
12.5.5 SWOT Analysis
12.5.6 Key Strategies
12.6 Expacare
12.6.1 Overview
12.6.2 Demographics /Services Offered
12.6.3 Financial Overview
12.6.4 Key Developments
12.6.5 SWOT Analysis
12.6.6 Key Strategies
12.7 CIGNA
12.7.1 Overview
12.7.2 Demographics /Services Offered
12.7.3 Financial Overview
12.7.4 Key Developments
12.7.5 SWOT Analysis
12.7.6 Key Strategies
12.8 International SOS
12.8.1 Overview
12.8.2 Demographics /Services Offered
12.8.3 Financial Overview
12.8.4 Key Developments
12.8.5 SWOT Analysis
12.8.6 Key Strategies
12.9 MediCare International
12.9.1 Overview
12.9.2 Demographics / Services Offered
12.9.3 Financial Overview
12.9.4 Key Developments
12.9.5 SWOT Analysis
12.9.6 Key Strategies
12.10 Integra Global
12.10.1 Overview
12.10.2 Demographics /Services Offered
12.10.3 Financial Overview
12.10.4 Key Developments
12.10.5 SWOT Analysis
12.10.6 Key Strategies
12.11 HealthCare International
12.11.1 Overview
12.11.2 Demographics /Services Offered
12.11.3 Financial Overview
12.11.4 Key Developments
12.11.5 SWOT Analysis
12.11.6 Key Strategies
12.12 MultiNational Underwriters
12.12.1 Overview
12.12.2 Demographics /Services Offered
12.12.3 Financial Overview
12.12.4 Key Developments
12.12.5 SWOT Analysis
12.12.6 Key Strategies
12.13 Others
Chapter 13 Appendix
13.1 References
13.2 Related Reports
LIST OF TABLES
Table 1 Global Health Insurance Market Synopsis, 2020-2027
Table 2 Global Health Insurance Market Estimates and Forecast, 2020-2027(USD Million)
Table 3 Global Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 4 Global Health Insurance Market, by Type, 2020-2027(USD Million)
Table 5 Global Health Insurance Market, by Period, 2020-2027(USD Million)
Table 6 Global Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 7 Global Health Insurance Market, by Region, 2020-2027(USD Million)
Table 8 Americas: Health Insurance Market, by Region, 2020 and 2025
Table 9 Americas: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 10 Americas: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 11 Americas: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 12 Americas: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 13 North America: Health Insurance Market, by Country, 2020-2027(USD Million)
Table 14 North America: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 15 North America: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 16 North America: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 17 North America: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 18 Latin America: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 19 Latin America: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 20 Latin America: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 21 Latin America: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 22 Europe: Health Insurance Market, by Region, 2020-2027(USD Million)
Table 23 Europe: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 24 Europe: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 25 Europe: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 26 Europe: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 27 Western Europe: Health Insurance Market, by Country, 2020-2027(USD Million)
Table 28 Western Europe: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 29 Western Europe: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 30 Western Europe: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 31 Western Europe: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 32 Eastern Europe: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 33 Eastern Europe: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 34 Eastern Europe: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 35 Eastern Europe: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 36 Asia-Pacific: Health Insurance Market, by Country, 2020-2027(USD Million)
Table 37 Asia-Pacific: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 38 Asia-Pacific: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 39 Asia-Pacific: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 40 Asia-Pacific: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
Table 41 Middle East & Africa: Health Insurance Market, by Region, 2020-2027(USD Million)
Table 42 Middle East & Africa: Health Insurance Market, by Demographics, 2020-2027(USD Million)
Table 43 Middle East & Africa: Health Insurance Market, by Type, 2020-2027(USD Million)
Table 44 Middle East & Africa: Health Insurance Market, by Period, 2020-2027(USD Million)
Table 45 Middle East & Africa: Health Insurance Market, by Service Providers, 2020-2027(USD Million)
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Market Structure for Global Health Insurance Market
Figure 3 Market Dynamics for Global Health Insurance Market
Figure 4 Global Health Insurance Market Share, by Demographics, 2020 (%)
Figure 5 Global Health Insurance Market Share, by Demographics, 2020 (USD Million)
Figure 6 Global Health Insurance Market Share, by Type, 2020 (%)
Figure 7 Global Health Insurance Market Share, by Type, 2020 (USD Million)
Figure 8 Global Health Insurance Market Share, by Period, 2020 (%)
Figure 9 Global Health Insurance Market Share, by Period, 2020 (USD Million)
Figure 10 Global Health Insurance Market Share, by Service Providers, 2020 (%)
Figure 11 Global Health Insurance Market Share, by Service Providers, 2020 (USD Million)
Figure 12 Global Health Insurance Market Share, by Region, 2020 (%)
Figure 13 Americas: Health Insurance Market Share, by Region, 2020 (%)
Figure 14 North America: Health Insurance Market Share, by Country, 2020 (%)
Figure 15 Europe: Health Insurance Market Share, by Region, 2020 (%)
Figure 16 Western Europe: Health Insurance Market Share, by Country, 2020 (%)
Figure 17 Asia-Pacific: Health Insurance Market Share, by Country, 2020 (%)
Figure 18 Middle East & Africa: Health Insurance Market Share, by Region, 2020 (%)
Figure 19 Global Health Insurance Market: Company Share Analysis, 2020 (%)
Figure 20 Allianz SE: Key Financials
Figure 21 Allianz SE: Segmental Revenue
Figure 22 Allianz SE: Geographical Revenue
Figure 23 IHI-Bupa: Key Financials
Figure 24 IHI-Bupa: Segmental Revenue
Figure 25 IHI-Bupa: Geographical Revenue
Figure 26 William Russell: Key Financials
Figure 27 William Russell: Segmental Revenue
Figure 28 William Russell: Geographical Revenue
Figure 29 Aetna: Key Financials
Figure 30 Aetna: Segmental Revenue
Figure 31 Aetna: Geographical Revenue
Figure 32 Blue Cross: Key Financials
Figure 33 Blue Cross: Segmental Revenue
Figure 34 Blue Cross: Geographical Revenue
Figure 35 Expacare: Key Financials
Figure 36 Expacare: Segmental Revenue
Figure 37 Expacare: Geographical Revenue
Figure 38 CIGNA: Key Financials
Figure 39 CIGNA: Segmental Revenue
Figure 40 CIGNA: Geographical Revenue
Figure 41 International SOS: Key Financials
Figure 42 International SOS: Segmental Revenue
Figure 43 International SOS: Geographical Revenue
Figure 44 MediCare International: Key Financials
Figure 45 MediCare International: Segmental Revenue
Figure 46 MediCare International: Geographical Revenue
Figure 47 Integra Global: Key Financials
Figure 48 Integra Global: Segmental Revenue
Figure 49 Integra Global: Geographical Revenue
Figure 50 HealthCare International: Key Financials
Figure 51 HealthCare International: Segmental Revenue
Figure 52 HealthCare International: Geographical Revenue
Figure 53 MultiNational Underwriters: Key Financials
Figure 54 MultiNational Underwriters: Segmental Revenue
Figure 55 MultiNational Underwriters: Geographical Revenue
Figure 56 Henner: Key Financials
Figure 57 Henner: Segmental Revenue
Figure 58 Henner: Geographical Revenue
This table of content is tentative and subject to change as the research progresses.
Please Note: Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.