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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Saudi Arabia Health Insurance Market Size
The Saudi Arabia health insurance market was around USD 6.78 billion in 2023. The industry is further expected to attain a value of around USD 10.98 billion by 2032, growing at a CAGR of 5.5% over the forecast period of 2024-2032.
The health insurance industry in Saudi Arabia is being driven by the growing consumer awareness regarding health coupled with the increased government initiatives to improve the healthcare infrastructure and policies in the region.
In July 2016, the government started implementing the mandatory unified health insurance scheme across the country. The scheme has been completely in place since 2017, making it mandatory for all private sector organisations to provide health insurance to their employees as well as their dependants – this includes spouse, unmarried daughters, and male children below 25 years of age. Thus, with the Saudi Arabian government mandating health coverage for all nationals and non-nationals, the industry is witnessing an increased growth in the region.
Saudi Arabia Health Insurance Market Report Snapshots
Saudi Arabia Health Insurance Market Size
Saudi Arabia Health Insurance Market 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 health insurance market in Saudi Arabia attained a value of USD 6.78 billion.
In the forecast period of 2024-2032, the market is projected to grow at a CAGR of 5.5%.
By 2032, the market is estimated to attain a value of about USD 10.98 billion.
The major market drivers include rising disposable incomes, the growing health awareness amid increasing prevalence of various diseases, and the introduction of government initiatives to improve the healthcare infrastructure and policies.
The introduction of mandatory unified health insurance schemes and policies to enhance the healthcare infrastructure is a significant trend guiding the market development.
The major types of the product in the market are individual and group.
The various service providers of health insurance considered in the market report are public and private.
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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