Outlook on the Health Insurance Global Market to 2028: Surging Awareness of Health Insurance and Increasing Launch of Policies During COVID-19 Drives Growth


Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "Global Health Insurance Market (2023-2028) by Insurance Type, Coverage, Age, Distribution Channel, End User, and Geography, Competitive Analysis, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Health Insurance Market is estimated to be USD 5.2 Tn in 2023 and is expected to reach USD 8.37 Tn by 2028, growing at a CAGR of 9.98%.

Market dynamics are forces that impact the prices and behaviors of the Global Health Insurance Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service.

Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Health Insurance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Health Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Health Insurance Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Key Attributes:

Report AttributeDetails
No. of Pages198
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$5.2 Trillion
Forecasted Market Value (USD) by 2028$8.37 Trillion
Compound Annual Growth Rate9.9%
Regions CoveredGlobal

Market Dynamics

Drivers

  • Increasing Number of Several Diseases
  • Surging Awareness of Health Insurance
  • Increasing Launch of Policies During Covid-19

Restraints

  • Lack of Knowledge about Coverages
  • Strict Documentation Process for Claim Reimbursement

Opportunities

  • Digitization and Advanced Analytics in Health Insurance
  • Launch of New Policies, Mergers, Acquisition, and Partnerships

Challenges

  • Lack of Awareness Regarding the Benefits of Health Insurance

Market Segmentations

The Global Health Insurance Market is segmented based on Insurance Type, Coverage, Age, Distribution Channel, End User, and Geography.

  • By Insurance Type, the market is classified into Disease Insurance and Medical Insurance.
  • By Coverage, the market is classified into Preferred Provider Organizations, Point of Service, Health Maintenance Organizations, and Exclusive Provider Organizations.
  • By Age, the market is classified into Senior Citizens, Adults, and Minors.
  • By Distribution Channel, the market is classified into Direct Sales, Broker/Agents, and Banks.
  • By End User, the market is classified into Group and Individuals.
  • By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.

Companies Mentioned

  • Aetna Inc.
  • AIA Group Ltd.
  • Allianz Care
  • Anthem Insurance Companies, Inc.
  • Assicurazioni Generali S.P.A.
  • Aviva
  • AXA
  • Broadstone Corporate Benefits Ltd.
  • Bupa
  • Centene Corp.
  • Cigna
  • HBF Health Ltd.
  • HealthCare International Global Network Ltd.
  • International Medical Group, Inc.
  • MAPFRE
  • Now Health International
  • Oracle
  • UnitedHealth Group
  • Vhi Group
  • Vitality

For more information about this report visit https://www.researchandmarkets.com/r/8aw4ui

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Global Health Insurance Market

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