Health Insurance Market Share, Trends, Covid-19 Booming Growth and Industry Outlook by UnitedHealth Group, Aviva, BMI Healthcare, AXA, ALLIANZ CARE, Oracle
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Data Bridge Market Research analyses that the market is growing with a CAGR of 4.4% in the forecast period of 2020 to 2027 and expected to reach USD 2,259,670.09 million by 2027.
Health Insurance market report is sure to lend a hand in enhancing sales and improving return on investment (ROI). Various parameters covered in this research report helps businesses for better decision making. This Health Insurance market research report encompasses different industry verticals for Health Insurance industry such as company profile, contact details of the companies, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company. Statistical data mentioned in the report is symbolized with the help of graphs which simplifies the understanding of facts and figures.
Scope of Report:
The Market report lists the most important competitors and provides the insights strategic industry Analysis of the key factors influencing the market. This report will help you to establish a landscape of industrial development and characteristics of the Health Insurance market. The Global Health Insurance market analysis is provided for the international markets including development trends, competitive landscape analysis, and key regions development status. Development policies and plans are discussed as well as companies' processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand Figures, price, cost, revenue and gross margins.
COMPANIES MENTIONED INCLUDE (we can also add the other companies as you want.):
Anthem Insurance Companies, Inc. (A Subsidiary of Anthem, Inc.)
Aetna Inc. (A Subsidiary of CVS Health)
ALLIANZ CARE (A SUBSIDIARY OF ALLIANZ)
ASSICURAZIONI GENERALI S.P.A.
AIA Group Limited
Broadstone Corporate Benefits Limited
HBF Health Limited
HealthCare International Global Network Ltd.
International Medical Group, Inc. (A Subsidiary of Sirius International Insurance Group Ltd.)
Now Health International
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Some of the main contributing factors of the market which are covered here include increasing sales strategies, revenue generation, valuable growth anticipation, and cost structure study. It also includes production, revenue, and average product price and market shares of key players. This market report has been designed by keeping in mind customer requirements which assist them in increasing their return on investment (ROI). This report underlines the vital modification of the market dynamics and comprehensive analysis of the parent market. The Health Insurance report describes CAGR (compound annual growth rate) values and its fluctuations for the specific forecast period.
Global Health Insurance Market Scenario
According to Data Bridge Market Research, in the market for health insurance, the market leader UnitedHealth Group accounts an estimated market share of approximately 10% to 15% in the global health insurance market. In North America health insurance market, an estimated market share of approximately 30% to 33% is held by UnitedHealth Group which is a leader in health insurance in the U.S. Additionally, the company is continuously involved in the business expansion activities to increase its global and regional presence in health insurance policies. The health insurance sales revenue of United Health Group has increased drastically by approximately 12% as compared to 2018 to generate sales revenue of USD 226 billion in 2019.
In November 2019, UnitedHealth Group care announced that the company will open 14 UnitedHealthcare Medicare services centers in partnership with Walgreens. The move will help the company to provide access to its services to a greater pool of customers.
The Global Health Insurance Market segments and Market Data Break Down are illuminated below:
By Type (Products, Solutions)
Services (Inpatient Treatment, Outpatient Treatment, Medical Assistance, Others)
Level of Coverage (Bronze, Silver, Gold, Platinum)
By Service Providers (Public Health Insurance Providers, Private Health Insurance Providers), Health Insurance Plans (Point of Service (POS), Exclusive Provider Organization (EPOS), Indemnity Health Insurance, Health Savings Account (HSA), Qualified Small Employer Health Reimbursement Arrangements (QSEHRAS), Preferred Provider Organization (PPO), Health Maintenance Organization (HMO), Demographics (Adults, Minors, Senior citizens)
By Coverage Type (Lifetime Coverage, Term Coverage)
By End User (Corporates, Individuals, Others), Distribution Channel (Direct Sales, Financial Institutions, E-commerce, Hospitals, Clinics, Others)
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc
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The report also focuses on global major leading industry players of Global Health Insurance Market providing information such as company profiles, product picture and specification, price, capacity, cost, production, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out. The Global Health Insurance market development trends and marketing channels are analyzed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
With tables and figures helping analyze worldwide Global Health Insurance market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
Global Health Insurance Market Scope and Market Size
Health insurance market is segmented on the basis of type, services, level of coverage, service providers, health insurance plans, demographics, coverage type, end user and distribution channel. The growth among segments helps you to analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Based on type, the market is segmented into products and solutions. Rising demand of health insurance as well as government policies are calling for more efficient systems to handle the collection of premiums for the processing of claims and in addition to increase the number of insurance beneficiaries. This has propelled the market for solutions required in the health insurance industry. However, the volume of health insurance beneficiaries is expected to increase at significant rate as the cost of healthcare increases which will allow market to grow with high CAGR in the forecasted period of 2027.
The increasing medical costs especially in the private sector have made people buying a health insurance policy for oneself as well as for family. A few days of hospitalisation as a result of illness or surgery can derail the financial cycle of an individual; this problem is grave when the earner is hospitalized. The problems associated with such circumstances can be avoided by just paying a timely annual or monthly premium as a planned expense instead of the sudden burden of medical emergencies. A variety of health insurance policies are available in the market that cover a multitude of expenses including the doctor consultation fees, medical tests, ambulance charges, hospitalization and even post-hospitalization recovery. The variety of insurance products is the primary factor behind increasing sales of health insurance policies.
Based on services, the market is segmented into inpatient treatment, outpatient treatment, medical assistance and others. Inpatient treatment is dominating the market as most of insurance companies offer health plans with high cover or limit along with other types of plans. Inpatient treatment includes cost of the hospital room, charges of operation theatre, consultation fees, cost of nursing staff, medicines, anaesthesia and others. By availing health insurance for inpatient treatment, one can also avail cashless service which is a very convenient feature at the time of trouble. These factors are propelling the market for health insurance for inpatient services.
Based on level of coverage, the market is segmented into bronze, silver, gold and platinum. Insurance policies with bronze level of coverage are dominating the market as a major share of customers prefers policies with low monthly or annual premiums. For instance, according to the U.S. centers for Medicare & Medicaid Services, in addition to low monthly premiums, these plans also provide free preventive services.
Based on service providers, the market is segmented into public health insurance providers and private health insurance providers. Public health insurances are dominating the market as the government authorities in major health insurance markets including U.S. and China, are the primary health insurance providers. For instance, China has increased government investments in health and established basic medical insurance to reduce out-of-pocket (OOP) health payments. The continuous input in public health services has improved the accessibility of residents to basic healthcare facilities.
Based on health insurance plans, the market is segmented into point of service (POS), exclusive provider organization (EPOS), indemnity health insurance, health savings account (HSA), qualified small employer health reimbursement arrangements (QSEHRAS), preferred provider organization (PPO), health maintenance organization (HMO) and others. Point of service (POS) plans is dominating the global health insurance market as these plans are generally available across all countries while the name can differ.
To Be Continued…..!!!
Table of Content:
Market Overview: The report begins with this section where product overview and highlights of product and application segments of the global Health Insurance Market are provided. Highlights of the segmentation study include price, revenue, sales, sales growth rate, and market share by product.
Competition by Company: Here, the competition in the Worldwide Health Insurance Market is analyzed, By price, revenue, sales, and market share by company, market rate, competitive situations Landscape, and latest trends, merger, expansion, acquisition, and market shares of top companies.
Company Profiles and Sales Data: As the name suggests, this section gives the sales data of key players of the global Health Insurance Market as well as some useful information on their business. It talks about the gross margin, price, revenue, products, and their specifications, type, applications, competitors, companies base, and the main business of key players operating in the global Health Insurance Market.
Market Status and Outlook by Region: In this section, the report discusses about gross margin, sales, revenue, production, market share, CAGR, and market size by region. Here, the global Health Insurance Market is deeply analyzed on the basis of regions and countries such as North America, Europe, China, India, Japan, and the MEA.
Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Health Insurance Market.
Market Forecast: Here, the report offers a complete forecast of the global Health Insurance Market by product, application, and region. It also offers global sales and revenue forecast for all years of the forecast period.
Research Findings and Conclusion: This is one of the last sections of the report where the findings of the analysts and the conclusion of the research study are provided.
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