Health Insurance Market 2019 Analysis, Growth, Trends & Forecast by 2025

North America health insurance market was valued over 30% revenue share in 2018 owing to presence of numerous providers coupled with growing prevalence of chronic diseases. Moreover, insurance providers formulate various policies for minimizing the healthcare expenditure that should propel regional growth over the coming years.

In 2018, the HMO segment had become one of the prominent gainers within the health insurance market despite the rigid regulations and is expected to continue with this performance in the years ahead as well, with affordable medical cost management, better claims handling, sound balance sheets and expansion through mergers and acquisitions. Subsequently, the segment is striving to gain a bigger market share and offer more innovative ways to avail treatments for the customers globally.

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The rising prevalence of lifestyle diseases and increasing cost of hospitalization has propelled health insurance market share, given that insurance makes it possible for consumers to afford quality treatment when needed. According to U.S. National Health Council, chronic diseases like cancer, diabetes, asthma and heart disease affect approximately 133 million Americans each year and by 2020, this number is projected to reach 157 million. Widespread occurrence of chronic diseases will give rise to healthcare expenditure which is anticipated to foster the health insurance industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Aetna
2. Anthem, Inc.
3. Blue Cross Blue Shield Companies
4. Cigna
5. HCSC
6. Highmark
7. Humana
8. Kaiser Permanente
9. Wellcare
10. United Healthcare

Seemingly, prominent studies reveal that U.S. spends around 14% of its GDP on the healthcare sector but unfortunately large number of Americans have no health insurance and are required to either pay from their pockets or go without treatment. Statistics show that in 2012, there were about 45.6 million people in the U.S. who were without health insurance. It is one of the major concerns raised by advocates of healthcare reform.

The growing interest in providing affordable quality healthcare is one of the prime forces driving the swift expansion of Health Maintenance Organizations (HMO). This well-organized system provides a comprehensive set of healthcare services and gives foremost priority to consumer's health as well as assures them that services will be available whenever needed, resulting in improvements in societal health.

Recently, Kaiser Permanente's HMO plan in Washington was rated number one in the state and also received a top ranking for helping people who were suffering from acute conditions, along with aiding people who were suffering from chronic diseases. According to 2018 eValue8 survey, Kaiser Permanente Washington comprises of the most successful programs in the country, from effective health plans for its HMO members to control acute and chronic conditions.

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A gist of North America health insurance industry trends
Reports indicate that in the year 2016, 91.2% of Americans had health insurance coverage - the number has been noted to be higher than the rate in 2015. Another 17 million Americans purchased health insurance for themselves from the private insurance market and around 100 million are covered by government firms. Rapid proliferation of the health insurance market has benefited majority of Michigan residents having health insurance.
As per Michigan's state department of Health and Human Service, many individual health insurances are covered by HMOs which had amplified HMO enrollees by 28% in 2017. Michigan's expanded Medicaid plan for providing healthcare policies to working residents and a low-income group had significantly propelled the accessibility of the healthcare industry. The uninsured rate in the U.S. fell from a peak of 18.2% in 2010 to 10.5% by 2015, driven by economic growth and Obamacare. This indicates that the health insurance market share of the U.S. can be anticipated to experience a substantial increase in the coming years.
Elaborating further, the region, along with Canada, has been experiencing an increase in healthcare awareness and the significance of medical care insurance. The presence of a supportive regulatory spectrum for insurance companies in the U.S. in tandem with the increase in chronic disease occurrence rate will drive North America health insurance market, that help over 33% of the global revenue share in 2018.

Prominent industry players in health insurance market such as Kaiser Permanente, Blue Cross Blue Shield Companies, Wellcare and United Healthcare are allowing better access to healthcare policies for enhancing their customer base and ensuring that customers get the best healthcare services according to their requirements.

Report Content
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 3600 synopsis, 2014 - 2025
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, 2014 - 2025
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. Porter's analysis
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.7. Industry trends
3.7.1. Developed economies
3.7.2. Emerging economies
3.8. Competitive landscape, 2017
3.8.1. Strategy dashboard
3.8.2. Company market share analysis, 2018
3.8.2.1. Global
3.8.2.2. U.S.
3.9. PESTEL analysis

More Insightful Info @ https://www.marketwatch.com/press-release/health-insurance-market-applications-2019trends-size-and-share-till-2025-2019-09-23

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