Data Bridge Market Research analyses that the medical insurance market to account USD 29.227 billion by 2029 growing at a CAGR of 10.30% in the forecast period of 2022-2029. The growing cost of healthcare and need for efficient flow of processes without the inconvenience caused due to payment processes will help in driving the growth of the health insurance market.
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Medical expenses incurred during the treatment of any disease, injury, or other mental or physical impairment are covered by health insurance. It provides healthcare benefits in exchange for a monthly/semi-annual/annual premium or a payroll tax. The insurer is required to cover the policyholder's medical expenses for the duration and coverage of the policy. Depending on the policy, coverage may differ for a variety of factors such as diseases, age group, government policies, and others.
The increase in cases of several diseases, such as cancer, dengue fever, and diabetes, during the COVID-19 pandemic is thought to be a major factor driving the global health insurance market's growth. Furthermore, improved claim management services and increased awareness of health insurance in rural areas are some of the major factors driving market growth.
North America dominates the medical insurance market due to the availability of multi-value health insurance policies and a favourable health insurance landscape in the United States, whereas Asia-Pacific is expected to grow at the fastest rate from 2022 to 2029 due to the availability of expensive health facilities and an increase in demand for health insurance policies in high-population countries such as India and China.
Some of the major players operating in the medical insurance market are Unitedhealth Group, Anthem Insurance Companies, Inc., Aetna Inc., Centene Corporation, Cigna, Allianz Care, Axa, Assicurazioni Generali S.P.A., Bupa, AIA Group Limited, Aviva, BMI Healthcare, Broadstone Corporate Benefits Limited, HBF Health Limited, Healthcare International Global Network Ltd., International Medical Group, Inc., Mapfre, Now Health International, Oracle, VHI Group and Vitality Corporate Services Limited among others.
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Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact:https://www.thebusinessresearchcompany.com/global-market-reportsThe Health And Medical Insurance Global Market Report 2020-30 by The Business Research Company describes and explains the global health and medical insurance market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Health And Medical Insurance Global Market Report 2021 covers health and medical insurance market drivers, health and medical insurance market trends, health and medical insurance market segments, health and medical insurance market growth rate, health and medical insurance market major players, and health and medical insurance market size.
View Complete Report:https://www.thebusinessresearchcompany.com/report/health-and-medical-insurance-global-market-reportThe health and medical insurance market report provides an in-depth analysis of the impact of COVID-19 on the global health and medical insurance industry, along with revised market numbers due to the effects of the coronavirus and the expected health and medical insurance market growth numbers 2021-2030.Health And Medical Insurance Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now:https://www.thebusinessresearchcompany.com/sample.aspx?id=3672=smpThe global health & medical insurance market is expected to grow from $385.24 billion in 2020 to $390.54 billion in 2021 at a compound annual growth rate (CAGR) of 1.4%.
The market is expected to reach $653.4 billion in 2025 at a CAGR of 13.7%.The report covers the health and medical insurance market segments- 1) By Type: Hospitalization Insurance, Hospital Daily Cash Benefit Insurance, Critical Illness Insurance, Domiciliary Insurance, Others.2) By Service Provider: Private, Public.3) By Demographics: Minor, Adults, Senior CitizenAbout The Business Research Company: The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research.
