The Global Wellness And Activity-Based Health Insurance Market was valued at approximately USD 108.93 billion in 2023 and is anticipated to grow at a robust CAGR of 12.3% over the forecast period 2024-2032. Wellness and activity-based health insurance integrates preventive health measures and wellness activities into the insurance policy framework, incentivizing policyholders to adopt healthier behaviors. These insurance plans offer rewards, discounts, or other benefits to individuals meeting health-related goals, fostering a proactive approach to health management.
The rise in health awareness and wellness trends, coupled with advancements in wearable technology and health monitoring devices, significantly propels the growth of the global wellness and activity-based health insurance market. The increasing support from government bodies and regulatory initiatives also positively impacts market growth. However, concerns regarding privacy and data security, along with limited adoption among older populations, present challenges to market expansion. On the contrary, the rising demand for personalized health and wellness solutions offers lucrative opportunities for market growth in the forecast period.
The Global Wellness And Activity-Based Health Insurance Market is segmented by type, program, service provider, and region. In terms of type, the market is divided into individual plans and group plans. The individual plans segment dominated the market in 2022, driven by the increasing demand for policies that offer higher returns and benefits. However, the group plans segment is expected to exhibit the highest growth rate during the forecast period, attributed to technological advancements and increased awareness among consumers.
The key regions considered for the Global Wellness And Activity-Based Health Insurance Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. North America currently leads in terms of market share and adoption. This is largely due to the advanced healthcare infrastructure, high awareness of wellness and preventive care, and significant investments in health technology within the region. The U.S. has a strong culture of health and fitness, coupled with a robust insurance market that supports innovative health insurance models focusing on wellness and activity-based incentives. On the other hand, the fastest-growing region is Asia-Pacific. This region is experiencing rapid growth due to increasing urbanization, rising middle-class income, and a growing emphasis on preventive healthcare. As countries in Asia-Pacific modernize their healthcare systems and more individuals gain access to health insurance, there is a burgeoning interest in wellness programs and activity-based insurance models. Additionally, the region's large population and growing awareness about health and wellness drive the adoption of such insurance products at a faster rate compared to other regions.
Major market players included in this report are:
- UnitedHealth Group Incorporated
- Cigna Corporation
- Aetna Inc. (Aetna, a CVS Health company)
- Anthem, Inc.
- Humana Inc.
- Kaiser Permanente
- Allianz Global Assistance
- Bupa Global
- WellCare Health Plans, Inc.
- Molina Healthcare, Inc.
- Oscar Health, Inc.
- MetLife, Inc.
- Prudential Financial, Inc.
- Blue Cross Blue Shield Association (BCBSA)
- Health Net, Inc.
The detailed segments and sub-segment of the market are explained below:
By Type:
- Individual Plans
- Group Plans
By Program:
- Fitness Programs
- Mental Health and Well-being Programs
By Service Provider:
- Insurance Companies
- Healthcare Providers
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Wellness and Activity-Based Health Insurance Market Executive Summary
- 1.1. Global Wellness and Activity-Based Health Insurance Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Program
- 1.3.3. By Service Provider
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Wellness and Activity-Based Health Insurance Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Wellness and Activity-Based Health Insurance Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Increasing adoption of health awareness and wellness trends
- 3.1.2. Advancements in wearable technology and health monitoring devices
- 3.2. Market Challenges
- 3.2.1. Privacy and data security concerns
- 3.2.2. Limited adoption among older populations
- 3.3. Market Opportunities
- 3.3.1. Rising demand for personalized health and wellness solutions
Chapter 4. Global Wellness and Activity-Based Health Insurance Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Wellness and Activity-Based Health Insurance Market Size & Forecasts by Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Wellness and Activity-Based Health Insurance Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Individual Plans
- 5.2.2. Group Plans
Chapter 6. Global Wellness and Activity-Based Health Insurance Market Size & Forecasts by Program 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Wellness and Activity-Based Health Insurance Market: Program Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Fitness Programs
- 6.2.2. Mental Health and Well-being Programs
Chapter 7. Global Wellness and Activity-Based Health Insurance Market Size & Forecasts by Service Provider 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Wellness and Activity-Based Health Insurance Market: Service Provider Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Insurance Companies
- 7.2.2. Healthcare Providers
- 7.2.3. Others
Chapter 8. Global Wellness and Activity-Based Health Insurance Market Size & Forecasts by Region 2022-2032
- 8.1. North America Wellness and Activity-Based Health Insurance Market
- 8.1.1. U.S. Wellness and Activity-Based Health Insurance Market
- 8.1.1.1. Type breakdown size & forecasts, 2022-2032
- 8.1.1.2. Program breakdown size & forecasts, 2022-2032
- 8.1.1.3. Service Provider breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Wellness and Activity-Based Health Insurance Market
- 8.1.2.1. Type breakdown size & forecasts, 2022-2032
- 8.1.2.2. Program breakdown size & forecasts, 2022-2032
- 8.1.2.3. Service Provider breakdown size & forecasts, 2022-2032
- 8.2. Europe Wellness and Activity-Based Health Insurance Market
- 8.2.1. U.K. Wellness and Activity-Based Health Insurance Market
- 8.2.2. Germany Wellness and Activity-Based Health Insurance Market
- 8.2.3. France Wellness and Activity-Based Health Insurance Market
- 8.2.4. Spain Wellness and Activity-Based Health Insurance Market
- 8.2.5. Italy Wellness and Activity-Based Health Insurance Market
- 8.2.6. Rest of Europe Wellness and Activity-Based Health Insurance Market
- 8.3. Asia-Pacific Wellness and Activity-Based Health Insurance Market
- 8.3.1. China Wellness and Activity-Based Health Insurance Market
- 8.3.2. India Wellness and Activity-Based Health Insurance Market
- 8.3.3. Japan Wellness and Activity-Based Health Insurance Market
- 8.3.4. Australia Wellness and Activity-Based Health Insurance Market
- 8.3.5. South Korea Wellness and Activity-Based Health Insurance Market
- 8.3.6. Rest of Asia Pacific Wellness and Activity-Based Health Insurance Market
- 8.4. Latin America Wellness and Activity-Based Health Insurance Market
- 8.4.1. Brazil Wellness and Activity-Based Health Insurance Market
- 8.4.2. Mexico Wellness and Activity-Based Health Insurance Market
- 8.4.3. Rest of Latin America Wellness and Activity-Based Health Insurance Market
- 8.5. Middle East & Africa Wellness and Activity-Based Health Insurance Market
- 8.5.1. Saudi Arabia Wellness and Activity-Based Health Insurance Market
- 8.5.2. South Africa Wellness and Activity-Based Health Insurance Market
- 8.5.3. Rest of Middle East & Africa Wellness and Activity-Based Health Insurance Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. UnitedHealth Group Incorporated
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Market Strategies
- 9.3.2. Cigna Corporation
- 9.3.3. Aetna Inc. (Aetna, a CVS Health company)
- 9.3.4. Anthem, Inc.
- 9.3.5. Humana Inc.
- 9.3.6. Kaiser Permanente
- 9.3.7. Allianz Global Assistance
- 9.3.8. Bupa Global
- 9.3.9. WellCare Health Plans, Inc.
- 9.3.10. Molina Healthcare, Inc.
- 9.3.11. Oscar Health, Inc.
- 9.3.12. MetLife, Inc.
- 9.3.13. Prudential Financial, Inc.
- 9.3.14. Blue Cross Blue Shield Association (BCBSA)
- 9.3.15. Health Net, Inc.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes