The global market for health and medical insurance providers reached $1.1 trillion in 2016. This market is estimated to reach $1.6 trillion in 2020 from $1.2 trillion in 2017 at a compound annual growth rate (CAGR) of 8.6% for 2016-2020.
This research report categorizes the health and medical insurance providers market by type. Product type include agents & brokers, direct writing, and bancassurance & others.
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– 97 data tables and 1 additional table
– An overview of the global market for health and medical insurance providers
– Analyses of global market trends, with data from 2012 to 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2020
– Market breakdowns by segment, region, and country
– Insight into market drivers and restraints
– Discussion of key mergers and acquisitions
– A look into the competitive landscape of the industry, including: UnitedHealth Group, Anthem Inc., Allianz SE, Aetna Inc., Humana Inc.
Global health and medical insurance providers market is currently in a very crucial phase of transformation. Increased demand for healthcare services as a result of a rise in disposable income and increasing prevalence of chronic diseases drove the health and medical insurance providers market. This trend was mainly driven by India and China where development in healthcare infrastructure development and increasing public and private investment led to increased demand for health and medical insurance. In addition, rising economic growth and rising lifestyle related medical conditions is continuously generating demand for health and medical insurance market. At the same time, low healthcare access in low-income countries and free or subsidized healthcare in many countries affected growth of the health and medical insurance providers market.
The market for health and medical insurance providers reached a value of nearly $1.1 trillion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 8.6% to nearly $1.6 trillion by 2020.
The market for health and medical insurance providers is marginally consolidated with a few large players dominating the market. Major players in the market are UnitedHealth Group Inc., Anthem, Allianz, Aetna Inc., Humana, and Centene Corporation among others.
Agents & Brokers accounted for the largest share of the market for health and medical insurance providers in 2016 at REDACTED. The highest growth is projected to come from direct writing market, which is forecasted to grow at a CAGR of REDACTED.
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North America is the largest market for health and medical insurance, accounting for REDACTED of the global market. It was followed by Western Europe and Asia Pacific. Going forward, Asia Pacific is expected to witness the fastest growth in the health and medical insurance providers market, estimated at a CAGRof REDACTED, followed by Africa, expected to grow at a CAGR of REDACTED.
USA is the largest market in terms of value and will continue to partially drive the market for health and medical insurance. China and India are expected to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.
The market is challenged by increasing preference for self-care diagnosis, instability in healthcare policies, and rising awareness for alternative therapies over the forecast period.