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Press Release:

Global Health Insurance Market to Grow at 7.2% During 2022-2027, Impelled by High Healthcare Costs

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Health Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global health insurance market reached a value of US$ 1,590 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2426.6 Billion by 2027, exhibiting at a CAGR of 7.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Health insurance protects an insured individual against financial losses arising due to a medical emergency. It covers medical treatment expenditures, such as ambulance charges, doctor consultation fees, and hospitalization, medicines and daycare procedures costs. The payout is generally either made on actual expenses incurred in the hospital using original medical bills or diagnosis of diseases without submitting bills. Health insurance also provides easy access to medical treatment with a cashless facility at network hospitals of the insurer. Apart from this, health insurance also provided tax benefits for a vast array of medical conditions. Nowadays, various health insurance companies are offering coverage for domiciliary treatment, wherein medical supervision is provided at home for specific diseases.

 

 
 

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The increasing costs of healthcare services, in confluence with the growing prevalence of diabetes, cancer, stroke and kidney failure, represent one of the key factors escalating the demand for health insurance worldwide. Moreover, governing agencies of several countries are making it necessary for employers to provide health insurance to their employees. These agencies are also enforcing laws that mandate international health insurance for tourists. Apart from this, the rising geriatric population is promoting the adoption of government health insurance programs or schemes offered at low premium rates. Furthermore, growing health awareness and improving healthcare infrastructure are other factors bolstering the market growth. Besides this, various companies are providing cover for medical expenses incurred during the treatment of coronavirus disease (COVID-19). They are also focusing on digitizing claim processing and policy management, which is anticipated to influence the market positively in the coming years.

The market is further driven by the widespread adoption of social media for the promotion of health insurance products by various players. Social media platforms provide them with a diverse customer reach, which is anticipated to provide numerous growth opportunities for the players. Additionally, digitizing various processes in the health insurance market also aids customers in comparing multiple plans offered by numerous vendors. This enables transparent communication between the insurers and companies and provides effective disclosure of pertinent information to ultimately help the individuals make an informed decision, thereby creating a positive outlook for the market.

The rising integration of health insurance with Big Data analytics aids insurance companies in diversifying their models and strategies in an attempt to recognize the ever-evolving consumer demand. The escalating deployment of predictive analysis and scenario-based modeling in the market also enables the companies to devise customized solutions for their clientele at varied pricing options. Also, the rising adoption of cloud-based services and the increasing penetration of high-speed internet connection across the globe has facilitated real-time consultations with experienced industry experts who can help provide insightful recommendations to the customers. This rapid outbreak of the COVID-19 pandemic and the subsequent mandatory lockdowns imposed by the governments of numerous countries have provided an impetus to the demand for online insurance consultations across the globe. Some of the other factors contributing to the market growth include the widespread preference for family floater health insurance among the masses, increasing penetration of healthcare services and health insurance in the rural sections of the developing economies, and the introduction of policies that offer the benefit of free annual/bi-annual check-ups with additional customization at low premium rates.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global health insurance market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on provider, type, plan type, demographics and provider type.

Breakup by Provider:

  • Private Providers
  • Public Providers
     

At present, private providers dominate the market globally, accounting for the majority of the total market.

Breakup by Type:

 

 
 

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  • Life-Time Coverage
  • Term Insurance
     

Among these, life-time health insurance holds the largest market share.

Breakup by Plan Type:

  • Medical Insurance
  • Critical Illness Insurance
  • Family Floater Health Insurance
  • Others
     

Medical insurance represents the leading plan type in the market.

Breakup by Demographics:

  • Minor
  • Adults
  • Senior Citizen
     

Adults represent the leading demographics segment, account for the largest market share.

Breakup by Provider Type:

  • Preferred Provider Organizations (PPOs)
  • Point of Service (POS)
  • Health Maintenance Organizations (HMOs)
  • Exclusive Provider Organizations (EPOs)
     

In 2021, PPOs represented the largest provider type in the market.

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

North America exhibits a clear dominance in the market, accounting for the largest market share.

Competitive Landscape:

The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these key players include Aetna Inc. (CVS Health Corporation), AIA Group Limited, Allianz SE, Aviva Plc, Berkshire Hathaway Inc., Cigna Corporation, International Medical Group Inc. (Sirius International Insurance Group Ltd.), Prudential Plc, United Health Group Inc. and Zurich Insurance Group AG.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Provider, Type, Plan Type, Demographics, Provider Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Aetna Inc. (CVS Health Corporation), AIA Group Limited, Allianz SE, Aviva Plc, Berkshire Hathaway Inc., Cigna Corporation, International Medical Group Inc. (Sirius International Insurance Group Ltd.), Prudential Plc, United Health Group Inc. and Zurich Insurance Group AG
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology
    2.1   Objectives of the Study
    2.2   Stakeholders
    2.3   Data Sources
        2.3.1   Primary Sources
        2.3.2   Secondary Sources
    2.4   Market Estimation
        2.4.1   Bottom-Up Approach
        2.4.2   Top-Down Approach
    2.5   Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1   Overview
    4.2   Key Industry Trends
5   Global Health Insurance Market
    5.1   Market Overview
    5.2   Market Performance
    5.3   Impact of COVID-19
    5.4   Market Forecast
6   Market Breakup by Provider
    6.1   Private Providers
        6.1.1   Market Trends
        6.1.2   Market Forecast
    6.2   Public Providers
        6.2.1   Market Trends
        6.2.2   Market Forecast
7   Market Breakup by Type
    7.1   Life-Time Coverage
        7.1.1   Market Trends
        7.1.2   Market Forecast
    7.2   Term Insurance
        7.2.1   Market Trends
        7.2.2   Market Forecast
8   Market Breakup by Plan Type
    8.1   Medical Insurance
        8.1.1   Market Trends
        8.1.2   Market Forecast
    8.2   Critical Illness Insurance
        8.2.1   Market Trends
        8.2.2   Market Forecast
    8.3   Family Floater Health Insurance
        8.3.1   Market Trends
        8.3.2   Market Forecast
    8.4   Others
        8.4.1   Market Trends
        8.4.2   Market Forecast
9   Market Breakup by Demographics
    9.1   Minor
        9.1.1   Market Trends
        9.1.2   Market Forecast
    9.2   Adults
        9.2.1   Market Trends
        9.2.2   Market Forecast
    9.3   Senior Citizen
        9.3.1   Market Trends
        9.3.2   Market Forecast
10   Market Breakup by Provider Type
    10.1   Preferred Provider Organizations (PPOs)
        10.1.1   Market Trends
        10.1.2   Market Forecast
    10.2   Point of Service (POS)
        10.2.1   Market Trends
        10.2.2   Market Forecast
    10.3   Health Maintenance Organizations (HMOs)
        10.3.1   Market Trends
        10.3.2   Market Forecast
    10.4   Exclusive Provider Organizations (EPOs)
        10.4.1   Market Trends
        10.4.2   Market Forecast
11   Market Breakup by Region
    11.1   North America
        11.1.1   United States
                 11.1.1.1 Market Trends
                 11.1.1.2 Market Forecast
        11.1.2   Canada
                11.1.2.1 Market Trends
                11.1.2.2 Market Forecast
    11.2   Asia-Pacific
        11.2.1   China
                 11.2.1.1 Market Trends
                 11.2.1.2 Market Forecast
        11.2.2   Japan
                 11.2.2.1 Market Trends
                 11.2.2.2 Market Forecast
        11.2.3   India
                 11.2.3.1 Market Trends
                 11.2.3.2 Market Forecast
        11.2.4   South Korea
                 11.2.4.1 Market Trends
                 11.2.4.2 Market Forecast
        11.2.5   Australia
                 11.2.5.1 Market Trends
                 11.2.5.2 Market Forecast
        11.2.6   Indonesia
                 11.2.6.1 Market Trends
                 11.2.6.2 Market Forecast
        11.2.7   Others
                 11.2.7.1 Market Trends
                 11.2.7.2 Market Forecast
    11.3   Europe
        11.3.1   Germany
                 11.3.1.1 Market Trends
                 11.3.1.2 Market Forecast
        11.3.2   France
                 11.3.2.1 Market Trends
                 11.3.2.2 Market Forecast
        11.3.3   United Kingdom
                 11.3.3.1 Market Trends
                 11.3.3.2 Market Forecast
        11.3.4   Italy
                 11.3.4.1 Market Trends
                 11.3.4.2 Market Forecast
        11.3.5   Spain
                 11.3.5.1 Market Trends
                 11.3.5.2 Market Forecast
        11.3.6   Russia
                 11.3.6.1 Market Trends
                 11.3.6.2 Market Forecast
        11.3.7   Others
                 11.3.7.1 Market Trends
                 11.3.7.2 Market Forecast
    11.4   Latin America
        11.4.1   Brazil
                 11.4.1.1 Market Trends
                 11.4.1.2 Market Forecast
        11.4.2   Mexico
                 11.4.2.1 Market Trends
                 11.4.2.2 Market Forecast
        11.4.3   Others
                 11.4.3.1 Market Trends
                 11.4.3.2 Market Forecast
    11.5   Middle East and Africa
        11.5.1   Market Trends
        11.5.2   Market Breakup by Country
        11.5.3   Market Forecast
12   SWOT Analysis
    12.1   Overview
    12.2   Strengths
    12.3   Weaknesses
    12.4   Opportunities
    12.5   Threats
13   Value Chain Analysis
14   Porters Five Forces Analysis
    14.1   Overview
    14.2   Bargaining Power of Buyers
    14.3   Bargaining Power of Suppliers
    14.4   Degree of Competition
    14.5   Threat of New Entrants
    14.6   Threat of Substitutes
15   Price Analysis
16   Competitive Landscape
    16.1   Market Structure
    16.2   Key Players
    16.3   Profiles of Key Players
        16.3.1   Aetna Inc. (CVS Health Corporation)
             16.3.1.1   Company Overview
             16.3.1.2   Product Portfolio
             16.3.1.3   SWOT Analysis
        16.3.2   AIA Group Limited
             16.3.2.1   Company Overview
             16.3.2.2   Product Portfolio
             16.3.2.3   Financials
             16.3.2.4   SWOT Analysis
        16.3.3   Allianz SE
             16.3.3.1   Company Overview
             16.3.3.2   Product Portfolio
             16.3.3.3   Financials
             16.3.3.4   SWOT Analysis
        16.3.4   Aviva Plc
             16.3.4.1   Company Overview
             16.3.4.2   Product Portfolio
             16.3.4.3   Financials
             16.3.4.4   SWOT Analysis
        16.3.5   Berkshire Hathaway Inc.
             16.3.5.1   Company Overview
             16.3.5.2   Product Portfolio
             16.3.5.3   Financials
             16.3.5.4   SWOT Analysis
        16.3.6   Cigna Corporation
             16.3.6.1   Company Overview
             16.3.6.2   Product Portfolio
             16.3.6.3   Financials
             16.3.6.4   SWOT Analysis
        16.3.7   International Medical Group Inc. (Sirius International Insurance Group Ltd.)
             16.3.7.1   Company Overview
             16.3.7.2   Product Portfolio
        16.3.8   Prudential Plc
             16.3.8.1   Company Overview
             16.3.8.2   Product Portfolio
             16.3.8.3   Financials
             16.3.8.4   SWOT Analysis
        16.3.9   United Health Group Inc.
             16.3.9.1   Company Overview
             16.3.9.2   Product Portfolio
             16.3.9.3   Financials
             16.3.9.4   SWOT Analysis
        16.3.10   Zurich Insurance Group AG
             16.3.10.1   Company Overview
             16.3.10.2   Product Portfolio
             16.3.10.3   Financials
             16.3.10.4   SWOT Analysis

List of Figures

Figure 1: Global: Health Insurance Market: Major Drivers and Challenges
Figure 2: Global: Health Insurance Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Health Insurance Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Health Insurance Market: Breakup by Provider (in %), 2021
Figure 5: Global: Health Insurance Market: Breakup by Type (in %), 2021
Figure 6: Global: Health Insurance Market: Breakup by Plan Type (in %), 2021
Figure 7: Global: Health Insurance Market: Breakup by Demographics (in %), 2021
Figure 8: Global: Health Insurance Market: Breakup by Provider Type (in %), 2021
Figure 9: Global: Health Insurance Market: Breakup by Region (in %), 2021
Figure 10: Global: Health Insurance (Private Providers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Health Insurance (Private Providers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Health Insurance (Public Providers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Health Insurance (Public Providers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Health Insurance (Life-Time Coverage) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Health Insurance (Life-Time Coverage) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Health Insurance (Term Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Health Insurance (Term Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Health Insurance (Medical Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Health Insurance (Medical Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Health Insurance (Critical Illness Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Health Insurance (Critical Illness Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Health Insurance (Family Floater Health Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Health Insurance (Family Floater Health Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Health Insurance (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Health Insurance (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Health Insurance (Minor) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Health Insurance (Minor) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Health Insurance (Adults) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Health Insurance (Adults) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Health Insurance (Senior Citizen) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Health Insurance (Senior Citizen) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Health Insurance (Preferred Provider Organizations- PPOs) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Health Insurance (Preferred Provider Organizations- PPOs) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Health Insurance (Point of Service- POS) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Health Insurance (Point of Service- POS) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Health Insurance (Health Maintenance Organizations- HMOs) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Health Insurance (Health Maintenance Organizations- HMOs) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Health Insurance (Exclusive Provider Organizations- EPOs) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Health Insurance (Exclusive Provider Organizations- EPOs) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: North America: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: United States: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: United States: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Canada: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Canada: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: North America: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Asia-Pacific: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: China: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: China: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Japan: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Japan: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: India: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: India: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: South Korea: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: South Korea: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Australia: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Australia: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Indonesia: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Indonesia: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Others: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Others: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Asia-Pacific: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Europe: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Germany: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Germany: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: France: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: France: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: United Kingdom: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: United Kingdom: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Italy: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Italy: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Spain: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Spain: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Russia: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Russia: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Others: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Others: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Europe: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Latin America: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Brazil: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Brazil: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81 Mexico: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Mexico: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Others: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Others: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Latin America: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Middle East and Africa: Health Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Middle East and Africa: Health Insurance Market: Breakup by Country (in %), 2021
Figure 88: Middle East and Africa: Health Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 89: Global: Health Insurance Industry: SWOT Analysis
Figure 90: Global: Health Insurance Industry: Value Chain Analysis
Figure 91: Global: Health Insurance Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Health Insurance Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Health Insurance Market Forecast: Breakup by Provider (in Million US$), 2022-2027
Table 3: Global: Health Insurance Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 4: Global: Health Insurance Market Forecast: Breakup by Plan Type (in Million US$), 2022-2027
Table 5: Global: Health Insurance Market Forecast: Breakup by Demographics (in Million US$), 2022-2027
Table 6: Global: Health Insurance Market Forecast: Breakup by Provider Type (in Million US$), 2022-2027
Table 7: Global: Health Insurance Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Health Insurance Market: Competitive Structure
Table 9: Global: Health Insurance Market: Key Players

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Key Questions Answered in This Report

The global health insurance market was valued at US$ 1,590 Billion in 2021.

We expect the global health insurance market to grow at a CAGR of 7.2% during 2022-2027.

Increasing prevalence of chronic diseases that need hospitalization, along with the rising healthcare costs, are some of the factors catalyzing the global health insurance market.

Sudden outbreak of the COVID-19 pandemic has led to the growing demand for healthcare insurance policies to provide cover for medical expenses incurred during the hospitalization for treating the coronavirus infection.

Based on the provider, the global health insurance market can be segmented into private providers and public providers. Currently, private providers hold the majority of the total market share.

Based on the type, the global health insurance market has been segregated into life-time coverage and term insurance, where life-time health insurance currently represents the largest segment.

Based on the plan type, the global health insurance market can be categorized into medical insurance, critical illness insurance, family floater health insurance, and others. Among these, medical insurance exhibits a clear dominance in the market.

Based on the demographics, the global health insurance market has been bifurcated into minor, adults, and senior citizen. Currently, adults represent the largest segment.

Based on the provider type, the global health insurance market can be divided into preferred provider organizations (PPOs), point of service (POS), health maintenance organizations (HMOs), and exclusive provider organizations (EPOs). Amongst these, preferred provider organizations (PPOs) currently account for the majority of the total market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global health insurance market include Aetna Inc. (CVS Health Corporation), AIA Group Limited, Allianz SE, Aviva Plc, Berkshire Hathaway Inc., Cigna Corporation, International Medical Group Inc. (Sirius International Insurance Group Ltd.), Prudential Plc, United Health Group Inc., and Zurich Insurance Group AG.

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