The Global Health Insurance Market 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.
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/8227
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.
- Allianz SE
- William Russell
- Blue Cross
- International SOS
- MediCare International
- Integra Global Health Limited
- HealthCare International
- MultiNational Underwriters
Regional Market Summary
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.
Browse Premium Research Report with Tables and Figures @ https://www.marketresearchfuture.com/reports/health-insurance-market-8227
- DJO Global, Inc. (US)
- BTL Industries (US)
- Enraf-NoniUS B.V (Europe)
- Dynatronics Corporation (US)
- EMS Physio (UK)
- ITO Co. Ltd (Japan)
- Mectronic Medicale (Europe)
- Performance Health (Subsidiary of Madison Dearborn Partners) (US)
- Whitehall Manufacturing (US)
- Zimmer Medizinsysteme GmbH (Germany)
- Colfax Corporation (US)
- STORZ MEDICAL (US)Top of Form
Detailed Table of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
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
Send an Enquiry @ https://www.marketresearchfuture.com/enquiry/8227
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Phone: +1 646 845 9312