The global health insurance market is expected to reach USD 3,723,048.30 million by 2031 from USD 2,035,166.07 million in 2023, growing with a CAGR of 7.9% in the forecast period of 2024 to 2031.
Market Segmentation
Global Health Insurance Market, By Type (Product and Solutions), Services (Inpatient Treatment, Outpatient Treatment, Medical Assurance, and Others), Level of Coverage (Bronze, Silver, Gold, and Platinum), Service Providers (Public Health Insurance Providers and Private Health Insurance Providers), Health Insurance Plans (Point of Service (POS), Exclusive Provider Organization (EPOS), Preferred Provider Organization (PPO), Indemnity Health Insurance, Health Maintenance Organization (HMO), Health Savings Account (HSA), Qualified Small Employer Health Reimbursement Arrangements (QSEHRAS), and Others), Demographics (Adults, Minors, and Senior Citizens), Coverage Type (Lifetime Coverage and Term Coverage), End User (Corporates, Individuals, and Others), Distribution Channel (Direct Sales, Financial Institutions, E-Commerce, Hospitals, Clinics, and Others), Country (U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Turkey, Belgium, Netherlands, Switzerland, Denmark, Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Indonesia, Philippines, Malaysia, New Zealand, Rest of Asia-Pacific, Brazil, Argentina, Peru, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, and Rest of Middle East and Africa) - Industry Trends and Forecast to 2031.
Overview of Global Health Insurance Market Dynamics
- Driver
- Increasing cost of medical services
- Restraint
- Strict documentation process for claim reimbursement
- Opportunity
- Increasing healthcare expenditure
Market Players
Some of the major market players operating in the global health insurance market are:
- Cigna Healthcare
- Centene Corporation
- Allianz Care (A Subsidiary of Allianz SE)
- Aetna Inc. (A Subsidiary of CVS Health)
- Anthem Insurance Companies, Inc. (A subsidiary of Elevance Health)
- AXA
- Broadstone Corporate Benefits Limited
- Bupa
- HealthCare International Global Network Ltd.
- HBF Health Limited
- Now Health International
- Oracle
- UnitedHealth Group
- Vhi Group
- Vitality (A Subsidiary of Discovery Ltd)
- International Medical Group (A Subsidiary of Sirius Point)
TABLE OF CONTENTS
1 INTRODUCTION 36
- 1.1 OBJECTIVES OF THE STUDY 36
- 1.2 MARKET DEFINITION 36
- 1.3 OVERVIEW OF THE GLOBAL HEALTH INSURANCE MARKET 36
- 1.4 LIMITATIONS 38
- 1.5 MARKETS COVERED 38
2 MARKET SEGMENTATION 42
- 2.1 MARKETS COVERED 42
- 2.2 GEOGRAPHICAL SCOPE 43
- 2.3 YEARS CONSIDERED FOR THE STUDY 44
- 2.4 CURRENCY AND PRICING 44
- 2.5 DBMR TRIPOD DATA VALIDATION MODEL 45
- 2.6 TYPE LIFELINE CURVE 48
- 2.7 MULTIVARIATE MODELING 49
- 2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 50
- 2.9 DBMR MARKET POSITION GRID 51
- 2.10 MARKET END-USER COVERAGE GRID 52
- 2.11 DBMR MARKET CHALLENGE MATRIX 53
- 2.12 DBMR VENDOR SHARE ANALYSIS 54
- 2.13 SECONDARY SOURCES 55
- 2.14 ASSUMPTIONS 56
3 EXECUTIVE SUMMARY 57
4 PREMIUM INSIGHTS 61
- 4.1 PROFITABILITY MARGIN 63
5 MARKET OVERVIEW 64
- 5.1 DRIVERS 66
- 5.1.1 INCREASING COST OF MEDICAL SERVICES 66
- 5.1.2 GROWING NUMBER OF DAYCARE PROCEDURES 67
- 5.1.3 MANDATORY PROVISION OF HEALTH INSURANCE IN THE PRIVATE AND PUBLIC SECTORS 68
- 5.2 RESTRAINTS 70
- 5.2.1 HIGH COST OF INSURANCE PREMIUM 70
- 5.2.2 STRICT DOCUMENTATION PROCESS FOR CLAIM REIMBURSEMENT 71
- 5.3 OPPORTUNITIES 72
- 5.3.1 ADVANTAGES OF HEALTH INSURANCE POLICIES 72
- 5.3.2 INCREASING HEALTHCARE EXPENDITURE 73
- 5.4 CHALLENGE 74
- 5.4.1 LACK OF AWARENESS REGARDING THE BENEFITS OF HEALTH INSURANCE 74
6 GLOBAL HEALTH INSURANCE MARKET, BY TYPE 76
- 6.1 OVERVIEW 77
- 6.2 PRODUCT 80
- 6.2.1 MEDICLAIM INSURANCE 81
- 6.2.2 INDIVIDUAL COVERAGE INSURANCE 81
- 6.2.3 FAMILY FLOATER COVERAGE INSURANCE 81
- 6.2.4 HOSPITALIZATION COVERAGE INSURANCE 81
- 6.2.5 SENIOR CITIZEN COVERAGE INSURANCE 81
- 6.2.6 CRITICAL ILLNESS INSURANCE 82
- 6.2.7 UNIT LINKED HEALTH PLANS 82
- 6.2.8 PERMANENT HEALTH INSURANCE 82
- 6.3 SOLUTIONS 82
- 6.3.1 LEAD GENERATIONS SOLUTIONS 83
- 6.3.2 REVENUE MANAGEMENT & BILING SOLUTIONS 83
- 6.3.3 ROBOTIC PROCESS AUTOMATION 83
- 6.3.4 INSURANCE CLOUD SOLUTIONS 83
- 6.3.5 CLAIMS ADMINISTRATION CLOUD SOLUTIONS 83
- 6.3.6 VALUE-BASED PAYMENTS SOLUTIONS 83
- 6.3.7 ARTIFICIAL INTELLIGENCE & BLOCK CHAIN SOLUTIONS 84
- 6.3.8 INTELLIGENT CASE MANAGEMENT SOLUTIONS 84
- 6.3.9 OTHERS 84
7 GLOBAL HEALTH INSURANCE MARKET, BY SERVICES 85
- 7.1 OVERVIEW 86
- 7.2 INPATIENT TREATMENT 89
- 7.3 OUTPATIENT TREATMENT 90
- 7.4 MEDICAL ASSURANCE 90
- 7.5 OTHERS 91
8 GLOBAL HEALTH INSURANCE MARKET, BY LEVEL OF COVERAGE 92
- 8.1 OVERVIEW 93
- 8.2 BRONZE 96
- 8.3 SILVER 97
- 8.4 GOLD 97
- 8.5 PLATINUM 98
9 GLOBAL HEALTH INSURANCE MARKET, BY SERVICE PROVIDERS 99
- 9.1 OVERVIEW 100
- 9.2 PUBLIC HEALTH INSURANCE PROVIDERS 103
- 9.3 PRIVATE HEALTH INSURANCE PROVIDERS 104
10 GLOBAL HEALTH INSURANCE MARKET, BY HEALTH INSURANCE PLANS 105
- 10.1 OVERVIEW 106
- 10.2 POINT OF SERVICE (POS) 109
- 10.3 EXCLUSIVE PROVIDER ORGANIZATION (EPOS) 110
- 10.4 PREFERRED PROVIDER ORGANIZATION (PPO) 110
- 10.5 INDEMNITY HEALTH INSURANCE 111
- 10.6 HEALTH MAINTENANCE ORGANIZATION (HMO) 111
- 10.7 HEALTH SAVINGS ACCOUNT (HSA) 112
- 10.8 QUALIFIED SMALL EMPLOYER HEALTH REIMBURSEMENT ARRANGEMENTS (QSEHRAS) 112
- 10.9 OTHERS 113
11 GLOBAL HEALTH INSURANCE MARKET, BY DEMOGRAPHICS 114
- 11.1 OVERVIEW 115
- 11.2 ADULTS 118
- 11.3 MINORS 119
- 11.4 SENIOR CITIZENS 119
12 GLOBAL HEALTH INSURANCE MARKET, BY COVERAGE TYPE 120
- 12.1 OVERVIEW 121
- 12.2 LIFETIME COVERAGE 124
- 12.3 TERM COVERAGE 125
13 GLOBAL HEALTH INSURANCE MARKET, BY END USER 126
- 13.1 OVERVIEW 127
- 13.2 CORPORATES 130
- 13.2.1 LARGE CORPORATES 131
- 13.2.2 SMES 131
- 13.3 INDIVIDUALS 131
- 13.4 OTHERS 132
14 GLOBAL HEALTH INSURANCE MARKET, BY DISTRIBUTION CHANNEL 133
- 14.1 OVERVIEW 134
- 14.2 DIRECT SALES 137
- 14.3 FINANCIAL INSTITUTIONS 138
- 14.4 E-COMMERCE 138
- 14.5 HOSPITALS 139
- 14.6 CLINICS 139
- 14.7 OTHERS 140
15 GLOBAL HEALTH INSURANCE MARKET, BY REGION 141
- 15.1 OVERVIEW 142
- 15.2 ASIA-PACIFIC 146
- 15.2.1 CHINA 151
- 15.2.2 INDIA 155
- 15.2.3 JAPAN 159
- 15.2.4 MALAYSIA 163
- 15.2.5 THAILAND 167
- 15.2.6 AUSTRALIA & NEW ZEALAND 171
- 15.2.7 SOUTH KOREA 175
- 15.2.8 INDONESIA 179
- 15.2.9 HONG KONG 183
- 15.2.10 SINGAPORE 187
- 15.2.11 TAIWAN 191
- 15.2.12 PHILIPPINES 195
- 15.2.13 REST OF ASIA-PACIFIC 199
- 15.3 EUROPE 200
- 15.3.1 GERMANY 206
- 15.3.2 U.K. 210
- 15.3.3 FRANCE 214
- 15.3.4 NETHERLANDS 218
- 15.3.5 ITALY 222
- 15.3.6 SPAIN 226
- 15.3.7 BELGIUM 230
- 15.3.8 RUSSIA 234
- 15.3.9 TURKEY 238
- 15.3.10 SWITZERLAND 242
- 15.3.11 REST OF EUROPE 246
- 15.4 NORTH AMERICA 247
- 15.4.1 U.S. 253
- 15.4.2 CANADA 259
- 15.4.3 MEXICO 265
- 15.5 SOUTH AMERICA 271
- 15.5.1 BRAZIL 277
- 15.5.2 ARGENTINA 282
- 15.5.3 REST OF SOUTH AMERICA 287
- 15.6 MIDDLE EAST AND AFRICA 288
- 15.6.1 UNITED ARAB EMIRATES 294
- 15.6.2 SAUDI ARABIA 299
- 15.6.3 SOUTH AFRICA 304
- 15.6.4 ISRAEL 309
- 15.6.5 EGYPT 314
- 15.6.6 REST OF MIDDLE EAST AND AFRICA 319
16 GLOBAL HEALTH INSURANCE MARKET: COMPANY LANDSCAPE 320
- 16.1 COMPANY SHARE ANALYSIS: GLOBAL 320
- 16.2 COMPANY SHARE ANALYSIS: NORTH AMERICA 321
- 16.3 COMPANY SHARE ANALYSIS: EUROPE 322
- 16.4 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 323
17 SWOT ANALYSIS 324
18 COMPANY PROFILES 325
- 18.1 CIGNA HEALTHCARE 325
- 18.1.1 COMPANY SNAPSHOT 325
- 18.1.2 REVENUE ANALYSIS 326
- 18.1.3 COMPANY SHARE ANALYSIS 327
- 18.1.4 PRODUCT PORTFOLIO 327
- 18.1.5 RECENT DEVELOPMENTS 328
- 18.2 CENTENE CORPORATION 329
- 18.2.1 COMPANY SNAPSHOT 329
- 18.2.2 REVENUE ANALYSIS 329
- 18.2.3 COMPANY SHARE ANALYSIS 330
- 18.2.4 PRODUCT PORTFOLIO 330
- 18.2.5 RECENT DEVELOPMENTS 331
- 18.3 ALLIANZ CARE (A SUBSIDIARY OF ALLIANZ) 332
- 18.3.1 COMPANY SNAPSHOT 332
- 18.3.2 REVENUE ANALYSIS 332
- 18.3.3 COMPANY SHARE ANALYSIS 333
- 18.3.4 PRODUCT PORTFOLIO 333
- 18.3.5 RECENT DEVELOPMENTS 334
- 18.4 AETNA INC. (A SUBSIDIARY OF CVS HEALTH) 335
- 18.4.1 COMPANY SNAPSHOT 335
- 18.4.2 REVENUE ANALYSIS 335
- 18.4.3 COMPANY SHARE ANALYSIS 336
- 18.4.4 PRODUCT PORTFOLIO 336
- 18.4.5 RECENT DEVELOPMENT 337
- 18.5 ANTHEM INSURANCE COMPANIES, INC. (A SUBSIDIARY OF ELEVANCE HEALTH) 338
- 18.5.1 COMPANY SNAPSHOT 338
- 18.5.2 REVENUE ANALYSIS 338
- 18.5.3 PRODUCT PORTFOLIO 339
- 18.5.4 RECENT DEVELOPMENTS 340
- 18.6 AXA 341
- 18.6.1 COMPANY SNAPSHOT 341
- 18.6.2 REVENUE ANALYSIS 341
- 18.6.3 PRODUCT PORTFOLIO 342
- 18.6.4 RECENT DEVELOPMENTS 342
- 18.7 BROADSTONE CORPORATE BENEFITS LIMITED 344
- 18.7.1 COMPANY SNAPSHOT 344
- 18.7.2 PRODUCT PORTFOLIO 344
- 18.7.3 RECENT DEVELOPMENTS 345
- 18.8 BUPA 346
- 18.8.1 COMPANY SNAPSHOT 346
- 18.8.2 PRODUCT PORTFOLIO 346
- 18.8.3 COMPANY SHARE ANALYSIS 347
- 18.8.4 RECENT DEVELOPMENTS 347
- 18.9 HEALTHCARE INTERNATIONAL GLOBAL NETWORK LTD. 348
- 18.9.1 COMPANY SNAPSHOT 348
- 18.9.2 PRODUCT PORTFOLIO 348
- 18.9.3 RECENT DEVELOPMENT 348
- 18.10 HBF HEALTH LIMITED 349
- 18.10.1 COMPANY SNAPSHOT 349
- 18.10.2 PRODUCT PORTFOLIO 349
- 18.10.3 RECENT DEVELOPMENTS 350
- 18.11 INTERNATIONAL MEDICAL GROUP, INC. (A SUBSIDIARY OF SIRIUS POINT LTD.) 351
- 18.11.1 COMPANY SNAPSHOT 351
- 18.11.2 REVENUE ANALYSIS 351
- 18.11.3 PRODUCT PORTFOLIO 352
- 18.11.4 RECENT DEVELOPMENTS 352
- 18.12 NOW HEALTH INTERNATIONAL 354
- 18.12.1 COMPANY SNAPSHOT 354
- 18.12.2 PRODUCT PORTFOLIO 354
- 18.12.3 RECENT DEVELOPMENTS 356
- 18.13 ORACLE 357
- 18.13.1 COMPANY SNAPSHOT 357
- 18.13.2 REVENUE ANALYSIS 357
- 18.13.3 PRODUCT PORTFOLIO 358
- 18.13.4 RECENT DEVELOPMENTS 358
- 18.14 UNITEDHEALTH GROUP 360
- 18.14.1 COMPANY SNAPSHOT 360
- 18.14.2 REVENUE ANALYSIS 360
- 18.14.3 PRODUCT PORTFOLIO 361
- 18.14.4 RECENT DEVELOPMENTS 362
- 18.15 VHI GROUP 364
- 18.15.1 COMPANY SNAPSHOT 364
- 18.15.2 PRODUCT PORTFOLIO 364
- 18.15.3 RECENT DEVELOPMENT 366
- 18.16 VITALITY (A SUBSIDIARY OF DISCOVERY LTD) 367
- 18.16.1 COMPANY SNAPSHOT 367
- 18.16.2 REVENUE ANALYSIS 367
- 18.16.3 PRODUCT PORTFOLIO 368
- 18.16.4 RECENT DEVELOPMENTS 368
19 QUESTIONNAIRE 369
20 RELATED REPORTS 373