UAE Health Insurance Market Size, Share, Trends and Forecast Till 2026

According to the latest report by IMARC Group, titled “UAE Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the UAE health insurance market reached a value of US$ 6.6 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Health insurance refers to a service that provides coverage for medical and surgical expenses incurred from an illness or injury. It offers multiple arrangements to the insurance holder, such as managed care plans, indemnity, and point-of-service (POS) plans. Health insurance covers various treatment expenditures, including medicines, hospitalization, ambulance, doctor consultation, and daycare costs. It is generally offered by an employer, wherein premiums are partially paid by employees and the rest is covered by the company.

The inflating costs of healthcare services, in confluence with the increasing prevalence of chronic diseases, are primarily driving the UAE health insurance market growth. The government is enforcing laws to provide compulsory health insurance to residents, which is acting as a major growth-inducing factor. This is further supported by the emergence of several private players that are providing additional healthcare benefits. Moreover, rapid technological advancements and digitization in healthcare processes, such as the adoption of cloud-based services and high-speed internet, have enabled transparent communication between involved parties, which is also fueling the market growth.

UAE Health Insurance Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:                                                                                                                 

The competitive landscape of the UAE health insurance market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

The report has segmented the UAE health insurance market on the basis of type and service provider.

Breakup by Type:

Individual
Group

On the basis of the type, the market has been segmented into individual and group insurance. Currently, individual health insurance represents the leading segment.

Breakup by Service Provider:

Public
Private

The market has been analyzed on the basis of the service provider which mainly includes public and private. At present, private health insurance providers exhibit a clear dominance in the market, representing the largest segment.

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/uae-health-insurance-market

Key highlights of the report:            

Market Performance (2015-2020)
Market Outlook (2021-2026)
Industry Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.