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- UAE Health Insurance Market Report
UAE Health Insurance Market to Grow at 6.4% During 2024-2032, Supported by Inflating Healthcare Costs
October 13, 2021
| Healthcare
According to the latest report by IMARC Group, titled “UAE Health Insurance Market Report by Type (Individual, Group), Service Provider (Public, Private) 2024-2032," the UAE health insurance market reached a value of US$ 8.2 Billion in 2023. Health insurance refers to a risk management service that provides financial aid for medical and surgical expenses incurred from an illness or injury. It is generally offered by an employer, wherein premiums are partially paid by employees, and the rest is covered by the company. Some of the expenditures funded by health insurance companies include hospitalization, medicine, doctor consultation, ambulance, and daycare costs. Moreover, they offer multiple arrangements to the insurance holder, such as managed care, indemnity, and point-of-service (POS) plans. Some of the common types of health insurance include individual, family, senior citizen, group, top-up and critical illness health insurance.
UAE Health Insurance Market Trends:
The increasing prevalence of chronic diseases, along with the inflating costs of healthcare services, is primarily driving the UAE health insurance market growth. In line with this, the Government of UAE is enforcing laws to provide compulsory health insurance to citizens, which is acting as a major growth-inducing factor. The market is also supported by the emergence of several private players that are providing additional healthcare benefits to clients. Moreover, rapid technological advancements and digitization in healthcare processes, such as the adoption of cloud-based services and big data analytics, have enabled transparent communication between involved parties, which is catalyzing the growth of the market. Looking forward, the market is expected to grow at a CAGR of 6.4% during 2024-2032.
Market Summary:
- Based on the type, the market has been bifurcated into individual and group insurance. At present, group health insurance represents the leading segment.
- The market has been analyzed on the basis of the service provider into public and private segments. Currently, private health insurance providers exhibit a clear dominance in the market, representing the largest segment.
- The report has also analyzed the competitive landscape of the market along with the profiles of the key players.
Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Type, Service Provider |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699 |
| 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) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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