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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Health Insurance Market Size
The global health insurance market attained a value of approximately USD 1.58 trillion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.2%, reaching a value of around USD 2.70 trillion by 2032.
Around the world, the prevalence of different chronic conditions such as diabetes, cancer, musculoskeletal disorders, neurological disorders, cardiovascular diseases, and respiratory diseases is increasing at a significant rate. The rising public awareness of the financial advantages of having health insurance is a key factor contributing to the growth of the health insurance market. Unhealthy lifestyles are increasing the prevalence of chronic health issues and the cost of treatment can be high and can consume all of a person's savings. As a result, more people are investing in health insurance for protection against any unexpected expenses due to ill health or accidents.
Health Insurance Market Report Snapshots
Health Insurance Market Growth
Health Insurance Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market for health insurance attained a value of approximately USD 1.58 trillion.
The market is projected to grow at a CAGR of 6.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 2.70 trillion by 2032.
The major market drivers include increasing global population, improving consumer living standards, rising health awareness, high costs of medical facilities and treatments, and improving accessibility to medical insurance.
The key health insurance market trends include the growing geriatric population, improvements in healthcare infrastructure, and availability of specialised health insurances policies.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The significant health insurance providers in the market are public and private.
The various insurance types in the market for health insurance include disease insurance, and medical insurance, among others.
The different insurance plans in the market for health insurance include health maintenance organisation (HMO), preferred provider organisation (PPO), exclusive provider organisation (EPO), point of service (POS), and health savings account (HAS), among others.
The leading coverage types of health insurance in the market include lifetime coverage and term coverage.
The major demographics in the market for health insurance are minors, adults, and senior citizens.
The significant end users of health insurance in the market include corporates, and individual, among others.
The major players in the market, according to the report, are AWP Health & Life SA, United HealthCare Services, Inc., Anthem Insurance Companies, Inc., Aetna Inc., Centene Corporation, Assicurazioni Generali S.P.A, Life Insurance Corporation of India, The Cigna Group, Health Care Service Corporation, and Humana Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124