Health Insurance Market to Exhibit Exponential Development Over 2021-2025
Category: #healthcare  By Ronak Bora  Date: 2021-03-20
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Health Insurance Market to Exhibit Exponential Development Over 2021-2025

Global health insurance market size is slated to witness an exponential growth in the forthcoming years, as a result of changing lifestyle and subsequent rise in incidences of chronic diseases across the globe. Likewise, several risk factors associated with chronic diseases, including changing eating habits and lack of exercise or physical activity, will become significant drivers of the global market growth.

Increasing incidences of chronic disorders such as cardiovascular diseases, diabetes, liver and kidney illnesses globally owing to factors like unhealthy lifestyle, stress, obesity, and others have supported the need for a reliable health insurance solution. According to reports by the CDC in April 2019, six in ten adults were known to be affected with chronic disorders across the U.S.

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In terms of segmentation by service provider, the global health insurance market from the private segment registered remuneration of $530 billion in 2018 and is anticipated to account for a considerable market share over the estimated timeline.

The segmental growth can be credited to the growing importance of health insurance policies in developing countries. In addition, availability of affordable health insurance plans and myriad benefits provided by private firms such as ambulance expenses and secondary & tertiary care hospitalization are likely to contribute to the growing market popularity in years ahead.

Based on type, the hospitalization insurance segment accounted for above 20% market share in 2018, which is attributable to the family health insurance schemes and reimbursement plans for individual members. Additionally, the presence of daily cash benefit plans will impact overall market expansion in the coming years.

In terms of network provider, the HMO (health maintenance organization) segment is poised to exhibit a growth rate of over 4% through 2025, driven by the accelerating acceptance of affordable health insurance plans by families, along with minimum cash premiums.

In terms of geographical expanse, the North America health insurance market has gained recognition due to the availability of various providers along with the high prevalence of chronic diseases. Additionally, insurance providers establish various policies to control the health expenditure which has driven the regional industrial demand.

Health insurance providers are constantly working at designing a reliable and comfortable policy scheme that suits the financial bandwidth of people who belong to different classes. Chief industry players include Highmark, Alliance, Blue Cross Blue Shield Companies, Aetna, and United Healthcare, among various others.

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Partial Chapter of the Table of Content

Chapter 4.     Health Insurance Market, By Service Provider

4.1. Key segment trends

4.2. Private

4.2.1.  Market size, by region, 2014-2025 (USD Billion)

4.3. Public

4.3.1.  Market size, by region, 2014-2025 (USD Billion)

Chapter 5.     Health Insurance Market, By Type

5.1. Key segment trends

5.2. Hospitalization insurance

5.2.1.  Market size, by region, 2014-2025 (USD Billion)

5.3. Critical illness insurance

5.3.1.  Market size, by region, 2014-2025 (USD Billion)

5.4. Income protection insurance

5.4.1.  Market size, by region, 2014-2025 (USD Billion)

5.5. Medical insurance

5.5.1.  Market size, by region, 2014-2025 (USD Billion)

Chapter 6.     Health Insurance Market, By Network Provider

6.1. Key segment trends

6.2. Health Maintenance Organization (HMO)

6.2.1.  Market size, by region, 2014-2025 (USD Billion)

6.3. Preferred Provider Organization (PPO)

6.3.1.  Market size, by region, 2014-2025 (USD Billion)

6.4. Exclusive Provider Organization (EPO)

6.4.1.  Market size, by region, 2014-2025 (USD Billion)

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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