Oct 30, 2019 (Market Research Analyst via COMTEX) -- The global health insurance market was valued at $3,153 billion in 2018, and is estimated to reach $4,475 billion by 2026, registering a CAGR of 4.4% from 2019 to 2026.
Health insurance covers various Health expenses, including the routine of health examinations, unforeseen illnesses or injuries, inpatient & outpatient surgery, specialist referral visits, and prescription medications of insured people. health insurance provides compensation for such medical expenses that may incur, owing to sickness or injury to the insured people in exchange for a monthly premium or a payroll tax to provide the Health benefits.
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Top Players: Allianz Group, Assicurazioni Generali S.p.A, AIA Group Limited, Anthem, Inc., AXA Equitable Life Insurance Company, China Life Insurance Company Limited, Munich Re, Ping An Insurance (Group) Company of China, Ltd., State Farm Group, Zurich Insurance Group.
Health insurance provides coverage to quick suffering diseases with a minimum premium amount. Various governments across the globe provide subsidies for people who cannot afford to pay the premium for health insurance. However, some public health insurance providers do not cover expensive diseases such as cancer and dental recovery.
Increase in the prevalence of chronic diseases such as cardiovascular disease, cancer and diabetes boost the growth of the global health insurance market. In addition, the major factor that drives the growth of the market includes rise in Health expenses. Furthermore, the mandatory provision of health insurance for private and public sector employees propel the market growth. However, term and condition mentioned in health insurance policies, such as limitation of reimbursement in certain hospitals & clinics and elimination of insurance coverage for expensive treatments are expected to hamper the market growth. On the contrary, introduction of advanced health system is expected to serve as a remunerative opportunity for market expansion.
The global health insurance is studied on the basis of provider, insurance type, coverage type demographics, network, and region. By provider, the market is divided into private providers and public providers. Depending on insurance, it is categorized into disease insurance, medical insurance, and income protection insurance. As per coverage type, it is divided into lifetime coverage and term coverage. According to demographics, it is fragmented into minors, adults, and senior citizen. On the basis of network, it is segregated into preferred provider organizations (PPOs), point of services (POS), health maintenance organizations (HMOs), and exclusive provider organizations (EPOs). In-depth analysis of the health insurance market is provided for North America, Europe, Asia-Pacific, and LAMEA.
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KEY MARKET BENEFITS FOR STAKEHOLDERS
This report entails a detailed quantitative analysis of the current market trends from 2019 to 2026 to identify the prevailing opportunities.
Market estimations are based on a comprehensive analysis of the key developments in the industry.
In-depth analysis based on region assists to understand the regional market to assist in strategic business planning.
The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
Table of Contents
Chapter 1: introduction
Chapter 2: executive summary
Chapter 3: market overview
Chapter 4: Health Insurance market, by component