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Hospital Daily Cash Benefit Insurance Market Analysis By Top Players And Regional Outlook 2023 - 2032 | Cigna Corporation, AIA Insurance Group, UnitedHealth Group Inc., Allianz SE, Zurich Insurance Group Ltd.
Hospital Daily Cash Benefit Insurance Market Trends
The Business Research Company's Hospital Daily Cash Benefit Insurance Global Market Report 2023 identifies rising out of the pocket health care expenditure as the major driver for the Hospital Daily Cash Benefit Insurance market's growth in the forecast period. According to the Centers for Medicare and Medicaid Services (CMS) report on National Health Expenditures 2020, the expenditure grew to $4.1 trillion in 2020 and accounted for a GDP of 19.7%. During hospitalization, out-of-pocket hospital expenses include user fees, medicine, diagnostics, procedure charges, transportation, informal charges, and others that have to be borne by the insured.
The global hospital daily cash benefit insurance market grew from $41.58 billion in 2022 to $47.68 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hospital daily cash benefit insurance market is expected to grow from $70.8 billion in 2027 at a CAGR of 10.4%.
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Major competitors in the Hospital Daily Cash Benefit Insurance market are Cigna Corporation, AIA Insurance Group, UnitedHealth Group Inc., Allianz SE, Zurich Insurance Group Ltd., Express Scripts Holding Company, AXA, Aviva PLC., Aetna Inc., and Apollo Munich Health Insurance.
A key trend in the Hospital Daily Cash Benefit Insurance market includes the inability to cover the complete medical treatment expenses. A hospital cash plan only provides a daily allowance through hospitalization instead, a health insurance plan provides more comprehensive coverage. On average, the hospital's daily cash benefit insurance provides the insured with an amount ranging from $100 to $3000 per day, which is not sufficient for the complete coverage of the treatment, making it a supplement to the health insurance plans.
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The Hospital Daily Cash Benefit Insurance market is segmented -
By Type Of Plan: Rider, Standalone Cover, Part Of Health Insurance
By Term Of Coverage: Lifetime Coverage, Term Insurance
By Benefit: Emergency Admission, Accident, Medical Treatment, Surgery
By Service Provider: Public, Private
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Hospital Daily Cash Benefit Insurance market.
The Business Research Company's "Global Hospital Daily Cash Benefit Insurance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hospital Daily Cash Benefit Insurance Market Include:
1. Executive Summary
2. Hospital Daily Cash Benefit Insurance Market Characteristics
3. Hospital Daily Cash Benefit Insurance Market Trends And Strategies
4. Hospital Daily Cash Benefit Insurance Market - Macro Economic Scenario
5. Hospital Daily Cash Benefit Insurance Market Size And Growth
……
26. Africa Hospital Daily Cash Benefit Insurance Market
27. Hospital Daily Cash Benefit Insurance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hospital Daily Cash Benefit Insurance Market
29. Hospital Daily Cash Benefit Insurance Market Future Outlook and Potential Analysis
30. Appendix
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