Product Code: 3146
The health insurance market is set to gain significant traction by 2027 owing to increasing healthcare expenditure worldwide. In addition, growing geriatric population globally, is likely to propel market demand through the forecast timeline.
The ongoing COVID-19 outbreak has prompted people to purchase adequate health insurance to ensure financial coverage for medical emergencies, unexpected hospitalization, and treatment expenditures. The pandemic has also spurred the demand for preventive health insurance on account of increasing emphasis on healthcare and wellbeing. Moreover, favorable government initiatives to include coverage for COVID-19 treatment has fueled industry growth during the pandemic.
Notably, prominent industry players are employing lucrative strategies to strengthen their foothold in the rapidly evolving market by establishing partnerships, engaging in mergers & acquisitions, and so on, which has favorably altered the global business landscape. For instance, in September 2021, Highmark, Inc., a leading health insurance company, announced the acquisition of Gateway Health Plan, Inc., a managed care organization. The acquisition enabled Highmark to better serve existing and future Medicare and Medicaid members across Pennsylvania.
For comprehensive assessment, the health insurance market has been categorized on the basis of network provider, service provider, time period, age-group, type, and region. Based on service provider, the market has further been divided into public and private. The public sub-segment is estimated to reach a significant valuation of over USD 2,413.5 billion by the end of 2027.
With respect to type, the market has been segmented into income protection insurance, hospitalization insurance, medical insurance, and critical illness insurance. In 2020, the critical illness insurance sub-segment registered a revenue of around USD 1,101.9 billion and is predicted to expand at a steady pace over 2021-2027.
By network provider, the market has been classified into exclusive provider organization (EPO), health maintenance organization (HMO), preferred provider organization (PPO), and others. The health insurance market from the exclusive provider organization (EPO) sub-segment is expected to surpass a valuation of USD 1.5 trillion by 2027.
In terms of age-group, the market has been segregated into senior citizens, adults, and minors. The minors sub-segment accounted for nearly 23.9% market share in 2020 and is anticipated to witness optimistic growth through the stipulated timeframe.
Based on time period, the market has been bifurcated into term insurance and life insurance. The life insurance sub-segment is slated to showcase considerable growth at a CAGR of more than 4.7% over the review period.
From the regional point of view, the Latin America health insurance market accounted for over 6.3% of the overall industry revenue in 2020 and is speculated to witness robust growth through 2027. The Middle East & Africa healthcare insurance market is speculated to expand at a CAGR of approximately 4.0% through the study timeline.
Table of Contents
Chapter 1 Methodology
- 1.1 Methodology
- 1.2 Market definitions
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Secondary
- 1.4.1.1 Paid sources
- 1.4.1.2 Unpaid sources
- 1.4.2 Primary
Chapter 2 Executive Summary
- 2.1 Health insurance industry 360 degree synopsis, 2016 - 2027
- 2.1.1 Business trends
- 2.1.2 Service provider trends
- 2.1.3 Type trends
- 2.1.4 Network provider trends
- 2.1.5 Age-group trends
- 2.1.6 Time period trends
- 2.1.7 Regional trends
Chapter 3 Health Insurance Industry Insights
- 3.1 Industry segmentation
- 3.2 Industry landscape, 2016 - 2027
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.1.1 Increasing GDP and healthcare expenditure across the globe
- 3.3.1.2 Growing geriatric population
- 3.3.1.3 Increasing prevalence of chronic diseases
- 3.3.1.4 High medical costs
- 3.3.1.5 Government initiatives for developing reimbursement policies for surgical procedures
- 3.3.2 Industry pitfalls & challenges
- 3.3.2.1 Surging cost of healthcare insurance products
- 3.3.2.2 Strict regulations and longer time for claim reimbursement
- 3.4 Growth potential analysis
- 3.4.1 By service provider
- 3.4.2 By type
- 3.4.3 By network provider
- 3.4.4 By age-group
- 3.4.5 By time period
- 3.5 Covid-19 impact analysis
- 3.6 Regulatory landscape
- 3.7 Porter's analysis
- 3.8 Competitive landscape, 2020
- 3.8.1 Company matrix analysis, 2020
- 3.9 PESTEL analysis
Chapter 4 Health Insurance Market, By Service Provider
- 4.1 Key segment trends
- 4.2 Private
- 4.2.1 Market size, by region, 2016-2027 (USD Billion)
- 4.3 Public
- 4.3.1 Market size, by region, 2016-2027 (USD Billion)
Chapter 5 Health Insurance Market, By Type
- 5.1 Key segment trends
- 5.2 Hospitalization insurance
- 5.2.1 Market size, by region, 2016-2027 (USD Billion)
- 5.3 Critical illness insurance
- 5.3.1 Market size, by region, 2016-2027 (USD Billion)
- 5.4 Income protection insurance
- 5.4.1 Market size, by region, 2016-2027 (USD Billion)
- 5.5 Medical insurance
- 5.5.1 Market size, by region, 2016-2027 (USD Billion)
Chapter 6 Health Insurance Market, By Network Provider
- 6.1 Key segment trends
- 6.2 Health Maintenance Organization (HMO)
- 6.2.1 Market size, by region, 2016-2027 (USD Billion)
- 6.3 Preferred Provider Organization (PPO)
- 6.3.1 Market size, by region, 2016-2027 (USD Billion)
- 6.4 Exclusive Provider Organization (EPO)
- 6.4.1 Market size, by region, 2016-2027 (USD Billion)
- 6.5 Others
- 6.5.1 Market size, by region, 2016-2027 (USD Billion)
Chapter 7 Health Insurance Market, By Age-group
- 7.1 Key segment trends
- 7.2 Minors
- 7.2.1 Market size, by region, 2016-2027 (USD Billion)
- 7.3 Adults
- 7.3.1 Market size, by region, 2016-2027 (USD Billion)
- 7.4 Senior citizens
- 7.4.1 Market size, by region, 2016-2027 (USD Billion)
Chapter 8 Health Insurance Market, By Time Period
- 8.1 Key segment trends
- 8.2 Life insurance
- 8.2.1 Market size, by region, 2016-2027 (USD Billion)
- 8.3 Term insurance
- 8.3.1 Market size, by region, 2016-2027 (USD Billion)
Chapter 9 Health Insurance Market, By Region
- 9.1 Key regional trends
- 9.2 North America
- 9.2.1 Market size, by country, 2016-2027 (USD Billion)
- 9.2.2 Market size, by service provider, 2016-2027 (USD Billion)
- 9.2.3 Market size, by type, 2016-2027 (USD Billion)
- 9.2.4 Market size, by network provider, 2016-2027 (USD Billion)
- 9.2.5 Market size, by age-group, 2016-2027 (USD Billion)
- 9.2.6 Market size, by time period, 2016-2027 (USD Billion)
- 9.2.7 U.S.
- 9.2.7.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.2.7.2 Market size, by type, 2016-2027 (USD Billion)
- 9.2.7.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.2.7.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.2.7.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.2.8 Canada
- 9.2.8.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.2.8.2 Market size, by type, 2016-2027 (USD Billion)
- 9.2.8.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.2.8.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.2.8.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.3 Europe
- 9.3.1 Market size, by country, 2016-2027 (USD Billion)
- 9.3.2 Market size, by service provider, 2016-2027 (USD Billion)
- 9.3.3 Market size, by type, 2016-2027 (USD Billion)
- 9.3.4 Market size, by network provider, 2016-2027 (USD Billion)
- 9.3.5 Market size, by age-group, 2016-2027 (USD Billion)
- 9.3.6 Market size, by time period, 2016-2027 (USD Billion)
- 9.3.7 Germany
- 9.3.7.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.3.7.2 Market size, by type, 2016-2027 (USD Billion)
- 9.3.7.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.3.7.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.3.7.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.3.8 UK
- 9.3.8.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.3.8.2 Market size, by type, 2016-2027 (USD Billion)
- 9.3.8.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.3.8.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.3.8.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.3.9 France
- 9.3.9.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.3.9.2 Market size, by type, 2016-2027 (USD Billion)
- 9.3.9.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.3.9.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.3.9.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.3.10 Italy
- 9.3.10.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.3.10.2 Market size, by type, 2016-2027 (USD Billion)
- 9.3.10.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.3.10.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.3.10.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.3.11 Spain
- 9.3.11.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.3.11.2 Market size, by type, 2016-2027 (USD Billion)
- 9.3.11.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.3.11.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.3.11.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.3.12 Russia
- 9.3.12.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.3.12.2 Market size, by type, 2016-2027 (USD Billion)
- 9.3.12.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.3.12.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.3.12.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.4 Asia Pacific
- 9.4.1 Market size, by country, 2016-2027 (USD Billion)
- 9.4.2 Market size, by service provider, 2016-2027 (USD Billion)
- 9.4.3 Market size, by type, 2016-2027 (USD Billion)
- 9.4.4 Market size, by network provider, 2016-2027 (USD Billion)
- 9.4.5 Market size, by age-group, 2016-2027 (USD Billion)
- 9.4.6 Market size, by time period, 2016-2027 (USD Billion)
- 9.4.7 China
- 9.4.7.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.4.7.2 Market size, by type, 2016-2027 (USD Billion)
- 9.4.7.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.4.7.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.4.7.5 Market size, by time period, 2016-2027 (USD Billion)
- 9.4.8 India
- 9.4.8.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.4.8.2 Market size, by type, 2016-2027 (USD Billion)
- 9.4.8.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.4.8.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.4.9 Japan
- 9.4.9.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.4.9.2 Market size, by type, 2016-2027 (USD Billion)
- 9.4.9.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.4.9.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.4.10 South Korea
- 9.4.10.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.4.10.2 Market size, by type, 2016-2027 (USD Billion)
- 9.4.10.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.4.10.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.4.11 Australia
- 9.4.11.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.4.11.2 Market size, by type, 2016-2027 (USD Billion)
- 9.4.11.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.4.11.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.5 Latin America
- 9.5.1 Market size, by country, 2016-2027 (USD Billion)
- 9.5.2 Market size, by service provider, 2016-2027 (USD Billion)
- 9.5.3 Market size, by type, 2016-2027 (USD Billion)
- 9.5.4 Market size, by network provider, 2016-2027 (USD Billion)
- 9.5.5 Market size, by age-group, 2016-2027 (USD Billion)
- 9.5.6 Market size, by time period, 2016-2027 (USD Billion)
- 9.5.7 Brazil
- 9.5.7.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.5.7.2 Market size, by type, 2016-2027 (USD Billion)
- 9.5.7.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.5.7.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.5.8 Mexico
- 9.5.8.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.5.8.2 Market size, by type, 2016-2027 (USD Billion)
- 9.5.8.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.5.8.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.6 MEA
- 9.6.1 Market size, by country, 2016-2027 (USD Billion)
- 9.6.2 Market size, by service provider, 2016-2027 (USD Billion)
- 9.6.3 Market size, by type, 2016-2027 (USD Billion)
- 9.6.4 Market size, by network provider, 2016-2027 (USD Billion)
- 9.6.5 Market size, by age-group, 2016-2027 (USD Billion)
- 9.6.6 Market size, by time period, 2016-2027 (USD Billion)
- 9.6.7 South Africa
- 9.6.7.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.6.7.2 Market size, by type, 2016-2027 (USD Billion)
- 9.6.7.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.6.7.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.6.8 Saudi Arabia
- 9.6.8.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.6.8.2 Market size, by type, 2016-2027 (USD Billion)
- 9.6.8.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.6.8.4 Market size, by age-group, 2016-2027 (USD Billion)
- 9.6.9 UAE
- 9.6.9.1 Market size, by service provider, 2016-2027 (USD Billion)
- 9.6.9.2 Market size, by type, 2016-2027 (USD Billion)
- 9.6.9.3 Market size, by network provider, 2016-2027 (USD Billion)
- 9.6.9.4 Market size, by age-group, 2016-2027 (USD Billion)
Chapter 10 Company Profiles
- 10.1 Competitive dashboard
- 10.2 Aetna
- 10.2.1 Business overview
- 10.2.2 Financial data
- 10.2.3 Service landscape
- 10.2.4 Strategic outlook
- 10.2.5 SWOT analysis
- 10.3 Anthem Health Insurance
- 10.3.1 Business overview
- 10.3.2 Financial data
- 10.3.3 Service landscape
- 10.3.4 Strategic outlook
- 10.3.5 SWOT analysis
- 10.4 Centene
- 10.4.1 Business overview
- 10.4.2 Financial data
- 10.4.3 Service landscape
- 10.4.4 Strategic outlook
- 10.4.5 SWOT analysis
- 10.5 Cigna Corporation
- 10.5.1 Business overview
- 10.5.2 Financial data
- 10.5.3 Service landscape
- 10.5.4 Strategic outlook
- 10.5.5 SWOT analysis
- 10.6 HCSC
- 10.6.1 Business overview
- 10.6.2 Financial data
- 10.6.3 Service landscape
- 10.6.4 Strategic outlook
- 10.6.5 SWOT analysis
- 10.7 Highmark Inc.
- 10.7.1 Business overview
- 10.7.2 Financial data
- 10.7.3 Service landscape
- 10.7.4 Strategic outlook
- 10.7.5 SWOT analysis
- 10.8 Jubliee Holding Limited
- 10.8.1 Business overview
- 10.8.2 Financial data
- 10.8.3 Service landscape
- 10.8.4 Strategic outlook
- 10.8.5 SWOT analysis
- 10.9 Kaiser Permanente
- 10.9.1 Business overview
- 10.9.2 Financial data
- 10.9.3 Service landscape
- 10.9.4 Strategic outlook
- 10.9.5 SWOT analysis
- 10.10 Ottonova
- 10.10.1 Business overview
- 10.10.2 Financial data
- 10.10.3 Service landscape
- 10.10.4 Strategic outlook
- 10.10.5 SWOT analysis
- 10.11 United Healthcare
- 10.11.1 Business overview
- 10.11.2 Financial data
- 10.11.3 Service landscape
- 10.11.4 Strategic outlook
- 10.11.5 SWOT analysis