Luton, Bedfordshire, United Kingdom, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Health Insurance Exchange Market.
In the changed post COVID-19 business landscape, the Health Insurance Exchange Market is expected to grow at USD 4,526 billion from 2023 to 2029, accelerating at a CAGR of 9.5%.
Health Insurance Exchange Market Outlook (2023 to 2029)
The health insurance Exchange market is developing more and more rapidly in rural areas as it offers many benefits such as reimbursement of medical expenses for insured persons and lump sum payments in long-term cases. In addition, rural customers are recognizing broader health insurance coverage such as inpatient admission, pre-hospital and post-hospital charges, ambulance charges, and hospital charges, which will drive market growth. towing. In addition, awareness of health insurance among local doctors and teachers is increasing, driving the health insurance Exchange market.
Public health insurance exchanges are used to purchase ACA-compliant health insurance plans for individuals and families (“individuals and families” or “single market” means health insurance that people purchase for themselves, as opposed to coverage that is purchased (such as Medicare or Medicaid). And these exchanges are the only place people can get premium subsidies and copay discounts designed to reduce premiums and costs for millions of eligible participants.
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Growth Drivers
The rising cost of health insurance premiums is limiting the growth of the Health Insurance Exchange Market.
Furthermore, government organisations such as banks and co-operative banks play an important role in increasing the penetration of health insurance products in rural areas because they provide affordable insurance policies and streamline the claim settlement process. As a result, increased awareness of health insurance in rural areas is propelling global market growth.
Companies that provide health insurance have raised the cost of insurance premiums due to increases in healthcare expenses such as the cost of medicines, hospital admission fees, and the cost of various other treatments. Furthermore, the majority of consumers worldwide have been infected with chronic diseases such as heart disease, Alzheimer’s, and diabetes. Healthcare professionals have imposed exorbitant fees for the treatment of such chronic diseases. As a result, insurance companies are responsible for addressing massive claim settlement costs, which stifle market growth.
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Market Positioning of Key Vendors
Major companies active in the global Health Insurance Exchange industry include
- Allianz Group
- UnitedHealth Group Incorporated
- AIA Group Limited
- Anthem Inc.
- AXA Equitable Life Insurance Company
- China Life Insurance Company Limited
- Cigna
- HCSC Group
- State Farm Group
- Zurich Insurance Group
- Berkshire Hathaway Inc
- Prudential plc
- and Nippon Life Insurance Company
The presence of established industry players is characterized by mergers and acquisitions, joint ventures, expansion of production capacity, extensive distribution and branding decisions to improve market share and regional footprint. Also, they are involved in ongoing research and development activities to develop new products and focus on expanding the product portfolio. This is expected to increase competition and pose a potential threat to new entrants.
Recent Industry Developments:
The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Allianz SE publicly traded securities between March 9, 2018 and May 17, 2022, inclusive (the “Class Period”) have until April 3, 2023 to seek appointment as lead plaintiff in the Allianz class action lawsuit. Captioned Weir v. Allianz SE, No. 23-cv-00719 (C.D. Cal.), the Allianz class action lawsuit charges Allianz and its top executive with violations of the Securities Exchange Act of 1934.
Browse the full “Health Insurance Exchange Market by Distribution Channel (Direct Sales, Brokers/Agents, Banks, and Others), Insurance Type (Diseases Insurance and Medical Insurance), Coverage (Preferred Provider Organizations (PPOs), Point of Service (POS), Health Maintenance Organizations (HMOs), and Exclusive Provider Organizations (EPOs)), End User Type (Group and Individuals), and Age Group (Senior Citizens, Adult, and Minors), Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2023 to 2029” Report at https://exactitudeconsultancy.com/reports/5425/health-insurance-exchange-market/
Report Scope:
| Report Attribute | Details |
| Market Size in 2022 | USD 2430.30 billion |
| Projected Market Size in 2029 | USD 4,526 billion |
| CAGR Growth Rate | 9.5% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2029 |
| Key Market Players | Allianz Group, UnitedHealth Group Incorporated, AIA Group Limited, Anthem Inc., AXA Equitable Life Insurance Company, China Life Insurance Company Limited, Cigna, HCSC Group, State Farm Group, Zurich Insurance Group, Berkshire Hathaway Inc., Prudential plc, and Nippon Life Insurance Company, and others. |
| Key Segment | by Provider, by Coverage, by Health Insurance Plans, and by Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Key Market Segments: Health Insurance Exchange Market
Health Insurance Exchange Market by Provider
- Public
- Private
Health Insurance Exchange Market by Coverage
- Life Insurance
- Term Insurance
Health Insurance Exchange Market by Health Insurance Plans
- Health Maintenance Organization (HMO)
- Preferred Provider Organization (PPO)
- Exclusive Provider Organization (EPO)
- Point of Service (POS)
- High Deductible Health Plan (HDHP)
Health Insurance Exchange Market by Demographics
- Minors
- Adults
- Senior Citizens
Health Insurance Exchange Market by End-Use
- Individuals
- Corporates
Health Insurance Exchange Market by Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Important Countries in All Regions Are Covered.
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Regional Insights:
North America is expected to account for the largest revenue share in the global health insurance exchange market, owing to major factors such as increasing prevalence of chronic diseases, large number of people opting for health insurance, and high GDP. Additionally, government initiatives to provide affordable Medicaid and Medicare insurance and the presence of large health insurers are fueling the growth of the North American market.
Browse the complete table of contents at-> https://exactitudeconsultancy.com/reports/5425/health-insurance-exchange-market/#table-of-content
Key Questions Addressed by the Health Insurance Exchange Market?
- What will the market size and growth rate for Health Insurance Exchange Market be in forecast period?
- What main forces are influencing the global Health Insurance Exchange Market?
- What are the key market trends that are influencing the market for Health Insurance Exchange Market?
- What are the market growth barriers for Health Insurance Exchange Market?
- What are the opportunities and risks that the vendors in the global Health Insurance Exchange Market must deal with?
- What are the Health Insurance Exchange Market upstream raw materials and production tools? What steps are involved in the production of Health Insurance Exchange Market?
- What patterns, difficulties, and dangers are affecting its development?
- Which current trends are affecting the market shares of Health Insurance Exchange Market in the leading international locations?
- In the market for Health Insurance Exchange Market globally, who are the major companies and what are their business strategies?
- What economic trends, forces, and problems are influencing its development?
- What are the main findings of the market for Health Insurance Exchange Market in the world's five forces analysis?
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/5425/health-insurance-exchange-market/#table-of-content
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