Healthcare Insurance Market Driven by the Trend of Bundling Health Insurance and Life Insurance | AIA Group Limited, Allianz SE, Aviva Plc, Berkshire Hathaway Inc., Cigna Corporation

The Global Health Insurance Market reached USD 2.2 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 3.6 billion by 2031. The global health insurance market is expected to exhibit a CAGR of 6.4% during the forecast period 2024-2031. Preventive treatment is becoming increasingly important in order to enhance overall health outcomes and lower long-health healthcare expenses.

The Health Insurance market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Health insurance is a type of coverage that helps individuals pay for medical expenses, including doctor visits, hospital stays, and prescription medications. The health insurance market is expanding, driven by rising healthcare costs, aging populations, and the increasing demand for personalized health plans and preventive care.

Forecast Growth Projected:

The Global Health Insurance Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Market Dynamics

✦ Rising Medical Costs Will Fuel Market Growth

The escalating costs of surgeries, hospital stays, and medical services have led to a global financial crisis. Health insurance offers essential financial protection in the event of severe illness or accidents. These costs encompass surgical expenses, doctor's fees, hospitalization charges, emergency services, and diagnostic tests.For example, according to the World Health Organization (WHO) in 2021, injuries-both intentional and unintentional-result in the deaths of 4.4 million people worldwide annually, representing approximately 8% of all global deaths. Traffic accidents, homicide, and suicide are among the top five leading causes of death for individuals aged 5 to 29.

Health Insurance Market Growth Drivers

✦ Increased need for health insurance coverage due to aging population

✦ Continuous rise in medical expenses is pushing individuals and families to seek health insurance

✦ Government regulations and mandates

List of the Key Players in the Health Insurance Market:

Aetna Inc. (CVS Health Corporation), AIA Group Limited, Allianz SE, Aviva Plc, Berkshire Hathaway Inc., Cigna Corporation, International Medical Group Inc, Prudential Plc, United Health Group Inc, Zurich Insurance Group AG and among others.

Industry Development:

Key Developments in Health Insurance Market

✦ On February 23, 2023, Bupa Niva Health Insurance's 'ReAssure 2.0' health insurance policy has been released. The first-of-its-kind indemnity plan gives entry age lock-in until a policyholder makes his or her first claim, allowing clients to save money on premiums. The product is available as an individual, multi-person and family floater with prices ranging from Rs 5 lakh to Rs 1 crore for people aged 18 to 65.

✦ On March 06, 2023, Health International, the multi-award-winning provider of international private medical insurance (IPMI), announced the introduction of a new direct billing network across Europe. Health International customers in Europe will have access to over 1,000 direct billing locations across the continent, including the United Kingdom, beginning March 1, 2023.

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Segment Covered in the Health Insurance Market:

By Provider (Public, Private)

By Coverage (Disease Insurance, Health Insurance)

By Plan Type (Individual Health Insurance, Family Floater Health Insurance, Senior Citizens Health Insurance, Critical Illness Insurance, Group Health Insurance)

By Distribution Channel (Individual agents, Corporate agents, Direct Marketing, Others)

Research Methodology:

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

This Report Covers:

✔ Go-to-market Strategy.
✔ Neutral perspective on the market performance.
✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.
✔Customized regional/country reports as per request and country level analysis.
✔ Potential & niche segments and regions exhibiting promising growth covered.
✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Health Insurance Market:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Health Insurance market?
➠ Who are the global key manufacturers of the Health Insurance Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
➠ What are the Health Insurance market opportunities and threats faced by the vendors in the global Health Insurance Industry?
➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➠ What focused approach and constraints are holding the Health Insurance market?
➠ What are the different sales, marketing, and distribution channels in the global industry?

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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

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