Healthcare Insurance Market (By Provider: Public and Private; Coverage Type: Term Insurance and Life-Time Coverage; Provider Type: Point of Service, Preferred Provider Organizations, Exclusive Provider Organizations, and Health Maintenance Organizations)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global healthcare insurance market size was exhibited at USD 3.53 Trillion in 2022 and is projected to hit around USD 6.82 Trillion by 2032, growing at a CAGR of 6.8% during the forecast period 2023 to 2032.

Key Pointers:

  • The North America accounted for 45.19% of revenue share in 2022
  • The Asia Pacific is projected to reach 9.2% of CAGR during the forecast period.
  • Based on the provider, the public segment accounted 58% revenue share in 2022.
  • On the other hand, the private segment is estimated to be the most opportunistic segment during the forecast period. 
  • Based on coverage type, the life-time coverage segment accounted for more than 55.9% of the market share.
  • On the other hand, the term insurance segment is expected to show highest CAGR during the forecast period.
  • Based on provider type, the preferred provider organizations segment accounted for over 29% of the market share in 2022.
  • The point of sale segment is estimated to be the most opportunistic segment during the forecast period.

Healthcare Insurance Market Report Scope

Report Coverage Details
Market Size in 2023 USD 3.77 Trillion
Market Size by 2032 USD 6.82 Trillion
Growth Rate From 2023 to 2032 CAGR of 6.8%
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Provider Type, Coverage Type, Health Insurance Plans Type, End-Use Type, Level of Coverage Type, Demographics Type
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Regional Scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key Companies Profiled Aetna Inc., AIA Group Limited, Allianz, ASSICURAZIONI GENERALI, Aviva, AXA, Cigna, Ping An Insurance (Group), UnitedHealth Group, Zurich.

 

The COVID-19 outbreak has impacted the life & businesses of all the individuals globally. The pandemic has increased the need for purchasing health insurance among customers to perceive better medical facilities & healthcare treatments amidst the growing spread of coronavirus. Furthermore, there is rapid growth in hospitalization due to the COVID-19 outbreak. Therefore, health insurance claims have increased tremendously. In addition, the spread of this health crisis across the globe is one of the major reasons behind the increase in health insurance premium as the situation has laid an enormous pressure on the insurance companies in the market.  

Healthcare Insurance covers medical expenses incurred during treatment of any disease, injury, or other mental & physical impairment. It acts as compensation in exchange for a monthly/semi-annual/annual premium or a payroll tax to provide healthcare benefits. The insurer is obliged to cover medical expenses for the policy holder up till the tenure and coverage of the policy. Depending on the policy, the coverage may vary for numerous factors, including diseases, age group, government policies, and others. 

Increase in instances of several diseases, such as cancer, dengue, and diabetes, during the COVID-19 pandemic is considered as an important factor boosting the global Healthcare Insurancemarket growth. In addition, improving claim management services and surge in awareness of Healthcare Insurancein rural areas are some of the major factors that propel the market growth. However, lack of knowledge about coverage’s included in Healthcare Insurance policy and increase in Healthcare Insurance premium cost are some of the factors that limit the Healthcare Insurance market opportunity. Furthermore, increased usage of advanced technology among healthcare professionals to treat chronic diseases, such as cancer and cardiovascular diseases, is expected to boost the medical treatment cost. Therefore, these high treatment costs become unaffordable to consumers and thus, adoption of Healthcare Insurance is expected to grow tremendously in the coming years. 

The report focuses on growth prospects, restraints, and trends of the Healthcare Insurance market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the Healthcare Insurance market.

Some of the prominent players in the Healthcare Insurance Market include:

  • Aetna Inc.
  • AIA Group Limited
  • Allianz
  • ASSICURAZIONI GENERALI
  • Aviva
  • AXA
  • Cigna
  • Ping An Insurance (Group)
  • UnitedHealth Group
  •  Zurich

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Healthcare Insurance market.

By Provider Type

  •  Public
  •  Private

By Coverage Type

  •  Term Insurance
  •  Life-time Coverage

By Health Insurance Plans Type

  •  Point of Service
  •  Preferred Provider Organizations
  •  Exclusive Provider Organizations
  •  Health Maintenance Organizations

By End-use Type

  •  Individuals
  •  Corporates
  •  Adults

By Level of Coverage Type

  • Bronze
  • Silver
  • Gold
  • Platinum

By Demographics Type

  • Minors
  • Adults
  • Seniors

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global healthcare insurance market size was exhibited at USD 3.53 Trillion in 2022 and is projected to hit around USD 6.82 Trillion by 2032

The global healthcare insurance market is growing at a CAGR of 6.8% during the forecast period 2023to 2032

The major market player includes Aetna Inc., AIA Group Limited, Allianz, ASSICURAZIONI GENERALI, Aviva, AXA, Cigna, Ping An Insurance (Group), UnitedHealth Group, Zurich.

Rising prevalence of chronic diseases, high healthcare costs, increased disposable income, constant new product launches by the numerous players, rising awareness regarding health insurances, and improved services related to claim settlement.

 

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Healthcare Insurance Market, By Provider Type

7.1.  Healthcare Insurance Market, by Provider Type, 2023-2032

7.1.1.    Public

7.1.1.1.        Market Revenue and Forecast (2020-2032)

7.1.2.    Private

7.1.2.1.        Market Revenue and Forecast (2020-2032)

Chapter 8.  Global Healthcare Insurance Market, By Coverage Type

8.1.  Healthcare Insurance Market, by Coverage Type, 2023-2032

8.1.1.    Term Insurance

8.1.1.1.        Market Revenue and Forecast (2020-2032)

8.1.2.    Life-time Coverage

8.1.2.1.        Market Revenue and Forecast (2020-2032)

Chapter 9.  Global Healthcare Insurance Market, By Health Insurance Plans Type

9.1.  Healthcare Insurance Market, by Health Insurance Plans Type, 2023-2032

9.1.1.    Point of Service

9.1.1.1.        Market Revenue and Forecast (2020-2032)

9.1.2.    Preferred Provider Organizations

9.1.2.1.        Market Revenue and Forecast (2020-2032)

9.1.3.    Exclusive Provider Organizations

9.1.3.1.        Market Revenue and Forecast (2020-2032)

9.1.4.    Health Maintenance Organizations

9.1.4.1.        Market Revenue and Forecast (2020-2032)

Chapter 10.      Global Healthcare Insurance Market, By End-use Type

10.1.        Healthcare Insurance Market, by End-use Type, 2023-2032

10.1.1.  Individuals

10.1.1.1.      Market Revenue and Forecast (2020-2032)

10.1.2.  Corporates

10.1.2.1.      Market Revenue and Forecast (2020-2032)

10.1.3.  Adults

10.1.3.1.      Market Revenue and Forecast (2020-2032)

Chapter 11.      Global Healthcare Insurance Market, By Level of Coverage Type

11.1.        Healthcare Insurance Market, by Level of Coverage Type, 2023-2032

11.1.1.  Bronze

11.1.1.1.      Market Revenue and Forecast (2020-2032)

11.1.2.  Silver

11.1.2.1.      Market Revenue and Forecast (2020-2032)

11.1.3.  Gold

11.1.3.1.      Market Revenue and Forecast (2020-2032)

11.1.4.  Platinum

11.1.4.1.      Market Revenue and Forecast (2020-2032)

Chapter 12.      Global Healthcare Insurance Market, By Demographics Type

12.1.        Healthcare Insurance Market, by Demographics Type, 2023-2032

12.1.1.  Minors

12.1.1.1.      Market Revenue and Forecast (2020-2032)

12.1.2.  Adults

12.1.2.1.      Market Revenue and Forecast (2020-2032)

12.1.3.  Seniors

12.1.3.1.      Market Revenue and Forecast (2020-2032)

Chapter 13.      Global Healthcare Insurance Market, Regional Estimates and Trend Forecast

13.1.        North America

13.1.1.  Market Revenue and Forecast, by Provider Type (2020-2032)

13.1.2.  Market Revenue and Forecast, by Coverage Type (2020-2032)

13.1.3.  Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.1.4.  Market Revenue and Forecast, by End-use Type (2020-2032)

13.1.5.  Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.1.6.  Market Revenue and Forecast, by Demographics Type (2020-2032)

13.1.7.  U.S.

13.1.7.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.1.7.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.1.7.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.1.7.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.1.7.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.1.7.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.1.8.  Rest of North America

13.1.8.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.1.8.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.1.8.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.1.8.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.1.8.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.1.8.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.2.        Europe

13.2.1.  Market Revenue and Forecast, by Provider Type (2020-2032)

13.2.2.  Market Revenue and Forecast, by Coverage Type (2020-2032)

13.2.3.  Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.2.4.  Market Revenue and Forecast, by End-use Type (2020-2032)

13.2.5.  Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.2.6.  Market Revenue and Forecast, by Demographics Type (2020-2032)

13.2.7.  UK

13.2.7.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.2.7.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.2.7.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.2.7.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.2.7.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.2.7.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.2.8.  Germany

13.2.8.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.2.8.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.2.8.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.2.8.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.2.8.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.2.8.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.2.9.  France

13.2.9.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.2.9.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.2.9.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.2.9.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.2.9.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.2.9.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.2.10.               Rest of Europe

13.2.10.1.   Market Revenue and Forecast, by Provider Type (2020-2032)

13.2.10.2.   Market Revenue and Forecast, by Coverage Type (2020-2032)

13.2.10.3.   Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.2.10.4.   Market Revenue and Forecast, by End-use Type (2020-2032)

13.2.10.5.   Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.2.10.6.   Market Revenue and Forecast, by Demographics Type (2020-2032)

13.3.        APAC

13.3.1.  Market Revenue and Forecast, by Provider Type (2020-2032)

13.3.2.  Market Revenue and Forecast, by Coverage Type (2020-2032)

13.3.3.  Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.3.4.  Market Revenue and Forecast, by End-use Type (2020-2032)

13.3.5.  Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.3.6.  Market Revenue and Forecast, by Demographics Type (2020-2032)

13.3.7.  India

13.3.7.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.3.7.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.3.7.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.3.7.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.3.7.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.3.7.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.3.8.  China

13.3.8.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.3.8.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.3.8.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.3.8.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.3.8.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.3.8.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.3.9.  Japan

13.3.9.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.3.9.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.3.9.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.3.9.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.3.9.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.3.9.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.3.10.               Rest of APAC

13.3.10.1.   Market Revenue and Forecast, by Provider Type (2020-2032)

13.3.10.2.   Market Revenue and Forecast, by Coverage Type (2020-2032)

13.3.10.3.   Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.3.10.4.   Market Revenue and Forecast, by End-use Type (2020-2032)

13.3.10.5.   Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.3.10.6.   Market Revenue and Forecast, by Demographics Type (2020-2032)

13.4.        MEA

13.4.1.  Market Revenue and Forecast, by Provider Type (2020-2032)

13.4.2.  Market Revenue and Forecast, by Coverage Type (2020-2032)

13.4.3.  Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.4.4.  Market Revenue and Forecast, by End-use Type (2020-2032)

13.4.5.  Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.4.6.  Market Revenue and Forecast, by Demographics Type (2020-2032)

13.4.7.  GCC

13.4.7.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.4.7.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.4.7.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.4.7.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.4.7.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.4.7.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.4.8.  North Africa

13.4.8.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.4.8.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.4.8.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.4.8.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.4.8.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.4.8.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.4.9.  South Africa

13.4.9.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.4.9.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.4.9.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.4.9.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.4.9.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.4.9.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.4.10.               Rest of MEA

13.4.10.1.   Market Revenue and Forecast, by Provider Type (2020-2032)

13.4.10.2.   Market Revenue and Forecast, by Coverage Type (2020-2032)

13.4.10.3.   Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.4.10.4.   Market Revenue and Forecast, by End-use Type (2020-2032)

13.4.10.5.   Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.4.10.6.   Market Revenue and Forecast, by Demographics Type (2020-2032)

13.5.        Latin America

13.5.1.  Market Revenue and Forecast, by Provider Type (2020-2032)

13.5.2.  Market Revenue and Forecast, by Coverage Type (2020-2032)

13.5.3.  Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.5.4.  Market Revenue and Forecast, by End-use Type (2020-2032)

13.5.5.  Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.5.6.  Market Revenue and Forecast, by Demographics Type (2020-2032)

13.5.7.  Brazil

13.5.7.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.5.7.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.5.7.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.5.7.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.5.7.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.5.7.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

13.5.8.  Rest of LATAM

13.5.8.1.      Market Revenue and Forecast, by Provider Type (2020-2032)

13.5.8.2.      Market Revenue and Forecast, by Coverage Type (2020-2032)

13.5.8.3.      Market Revenue and Forecast, by Health Insurance Plans Type (2020-2032)

13.5.8.4.      Market Revenue and Forecast, by End-use Type (2020-2032)

13.5.8.5.      Market Revenue and Forecast, by Level of Coverage Type (2020-2032)

13.5.8.6.      Market Revenue and Forecast, by Demographics Type (2020-2032)

Chapter 14.  Company Profiles

14.1.              Aetna Inc.

14.1.1.  Company Overview

14.1.2.  Product Offerings

14.1.3.  Financial Performance

14.1.4.  Recent Initiatives

14.2.              AIA Group Limited

14.2.1.  Company Overview

14.2.2.  Product Offerings

14.2.3.  Financial Performance

14.2.4.  Recent Initiatives

14.3.              Allianz

14.3.1.  Company Overview

14.3.2.  Product Offerings

14.3.3.  Financial Performance

14.3.4.  Recent Initiatives

14.4.              ASSICURAZIONI GENERALI

14.4.1.  Company Overview

14.4.2.  Product Offerings

14.4.3.  Financial Performance

14.4.4.  Recent Initiatives

14.5.              Aviva

14.5.1.  Company Overview

14.5.2.  Product Offerings

14.5.3.  Financial Performance

14.5.4.  Recent Initiatives

14.6.              AXA

14.6.1.  Company Overview

14.6.2.  Product Offerings

14.6.3.  Financial Performance

14.6.4.  Recent Initiatives

14.7.              Cigna

14.7.1.  Company Overview

14.7.2.  Product Offerings

14.7.3.  Financial Performance

14.7.4.  Recent Initiatives

14.8.              Ping An Insurance (Group)

14.8.1.  Company Overview

14.8.2.  Product Offerings

14.8.3.  Financial Performance

14.8.4.  Recent Initiatives

14.9.              UnitedHealth Group

14.9.1.  Company Overview

14.9.2.  Product Offerings

14.9.3.  Financial Performance

14.9.4.  Recent Initiatives

14.10.            Zurich

14.10.1.           Company Overview

14.10.2.            Product Offerings

14.10.3.            Financial Performance

14.10.4.             Recent Initiatives

Chapter 15.  Research Methodology

15.1.          Primary Research

15.2.          Secondary Research

15.3.         Assumptions

Chapter 16.  Appendix

16.1.         About Us

16.2.       Glossary of Terms

 

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