Global Health Insurance Market by Insurance Type
New York, June 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report, “Global Health Insurance Market, By Insurance Provider Type, By Insurance Type, By Duration, By Type of Purchase, By” by End-User, By Region, By Competition , Forecast and Opportunities, 2026 “- https://www.reportlinker.com/p06089416/?utm_source=GNW
The global health insurance market was valued at $ 1,721 billion in 2020 and is expected to grow at an annual growth rate of 8.55%. The global health insurance market is being driven by the growing prevalence of chronic diseases like diabetes, cardiovascular disease, kidney disease, cancer, etc., and has dramatically increased the patient pool and hospitalization rate. This, in turn, increases patient health spending, and thus increases the demand for health policies that cover critical illnesses and treatments. In addition, mandates to provide health insurance to employees in various private and public sectors are expected to further fuel market growth. In addition, the sudden outbreak and spread of the COVID-19 pandemic has led many health insurance companies to expand coverage for the disease in their health insurances, particularly in the United States. Also, Chinese health insurance companies are now offering coverage for the aftermath of COVID-19 in their insurance plans, as the disease has been found to cause long-term organ damage. In addition, the introduction of advanced techniques and treatment options in the healthcare industry is expected to create lucrative opportunities for market growth by 2026F.
The unhealthy lifestyle of the people has led to an increase in the number of chronically ill people and the number of traffic accidents, as well as health costs such as high drug costs. The expansion of global health insurance The sector has been driven by rising GDP in many countries.
The increased demand for health insurance is the result of rising costs for high quality health care and medical services, especially in private hospitals. When a person has no benefits, hospital costs are enough to use up a person’s savings.
This requires taking out health insurance.
The global health insurance market is divided into type of insurance provider, type of insurance coverage, duration of insurance, type of purchase, end-user, company, and region. Based on the type of insurance providers, the global health insurance market can be divided into public categories, private and standalone health insurers.
Among these, the public segment is expected to dominate the market as it offers affordable treatment options that do not include additional deductibles. Based on the duration of the insurance, the market can be divided into lifetime and term.
Of these, the lifetime segment is likely to dominate the market due to the increasing prevalence of chronic diseases.
In terms of region, the global health insurance market has been divided into Asia-Pacific, North America, South America, Europe, and the Middle East and Africa. Among these regions, Asia-Pacific is expected to see significant growth in overall health insurance due to rising healthcare spending and expensive healthcare facilities in the region.
In addition, increasing demand for health insurance, particularly in countries like China and India, is expected to drive the market in populous countries in the coming years.
Major players in the global health insurance market include UnitedHealth Group, CVS Health, Anthem Inc., Cigna Corporation, Allianz Group, AXA Equitable Life Insurance Company, and others. The companies develop advanced technologies and introduce new services to stay competitive in the market. Other competitive strategies include mergers and acquisitions and new service developments.
Years considered for this report:
Historic years: 2016-2019
Base year: 2020
Estimated year: 2021E
Forecast period: 2022F-2026F
The aim of the study:
• Analysis of the historical growth of the market size of the global health insurance market from 2016-2020.
• Estimate and forecast the market size of the global Health Insurance Market from 2021E to 2026F, and the growth rate to 2026F.
• Classification and forecast of the global health insurance market based on type of insurance provider, type of insurance coverage, insurance duration, purchase type, end-user, company and regional distribution.
• To identify dominant regions or segments in the global health insurance market.
• Identification of drivers and challenges for the global health insurance market.
• To study competitive developments such as expansions, product launches, mergers and acquisitions, etc. in the global health insurance market.
• To identify and analyze the profile of leading players in the global health insurance market.
• Identification of the key sustainable strategies of the market participants in the global health insurance market.
The analyst performed both primary and extensive secondary research for this study. First, the analyst compiled a list of service providers around the world.
The analyst then conducted primary research on the identified companies. As part of the interviews, the respondents were also asked about their competitors.
This technique would allow the analyst to include the service providers who could not be identified due to the limitations of desk research. The analyst examined the service providers, vendors and the presence of all major players around the world.
The analyst calculated the market size of the global Health Insurance market using a bottom-up approach that involves collecting data for various end-user segments and forecasting them for the years to come. The analyst obtained these values from industry experts and company representatives and validated them externally by analyzing historical data of these product types and applications in order to obtain an appropriate overall market size.
The analyst also examined various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports.
Most important target group:
• Health insurance providers, providers and other stakeholders
• Government agencies such as regulators and policy makers
• Organizations, forums and alliances related to health insurance
• Market research and consulting company
The study is useful in providing answers to several critical questions important to industry stakeholders such as service providers, vendors, partners, end users, etc., and also enables them to plan investments and seize market opportunities.
In this report, the Global Health Insurance Market has been segmented into the following categories in addition to the industry trends listed below:
• Global Health Insurance Market by Insurance Provider Type:
o Independent health insurers
• Global Health Insurance Market by Insurance Type:
• Global health insurance market by duration of coverage:
• Global Health Insurance Market by Type of Purchase:
o Insurance agent
o Direct company representatives
o Online portal
• Global Health Insurance Market by End User:
• Global Health Insurance Market by Region:
o North America
o Asia Pacific
o South America
o Middle East & Africa
United Arab Emirates
Company Profiles: In-depth analysis of the key companies in the global health insurance market.
With the given market data, we offer adjustments to the specific needs of a company. The following customization options are available for the report:
• Detailed analysis and profiling of additional market participants (up to five).
Read the full report: https://www.reportlinker.com/p06089416/?utm_source=GNW
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