Global Health Insurance Market 2024-2028

The health insurance market is forecasted to grow by USD 994.17 bn during 2023-2028, accelerating at a CAGR of 6.92% during the forecast period. The report on the health insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand due to growing healthcare awareness, a global rise in the aging population, and an increase in the prevalence of chronic diseases.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	6.46%
CAGR	6.92%
Incremental Value	$994.17bn

Technavio's health insurance market is segmented as below:

By Service

Public
Private

By Type

Life insurance
Term insurance

By Geography

North America
APAC
Europe
South America
Middle East and Africa

This study identifies the increasing demand use to a growing focus on preventive health as one of the prime reasons driving the health insurance market growth during the next few years. Also, growing demand for customization and tailored insurance policies and integration of wearables into customer engagement metrics for life insurance software will lead to sizable demand in the market.

The report on the health insurance market covers the following areas:

Health insurance market sizing
Health insurance market forecast
Health insurance market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading health insurance market vendors that include ACKO General Insurance Ltd., Aditya Birla Management Corp. Pvt. Ltd., Allianz Care, Bharti Enterprises Ltd., Centene Corp., CVS Health Corp., Elevance Health Inc., General Insurance Corp. of India Ltd., HDFC Bank Ltd., ICICI Lombard General Insurance Co. Ltd., Independence Health Group Inc., Indian Farmers Fertiliser Cooperative Ltd., Kotak Mahindra Bank Ltd., Life Insurance Corp. of India, Max Financial Services Ltd., Oscar Health Inc, Reliance General Insurance Co. Ltd., Star Health and Allied Insurance Co Ltd., The Cigna Group, and UnitedHealth Group Inc. Also, the health insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Product Code: IRTNTR77095

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market by Geography
Exhibit 05: Executive Summary - Chart on Market Segmentation by Service
Exhibit 06: Executive Summary - Chart on Market Segmentation by Type
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global health insurance market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global health insurance market 2018 - 2022 ($ billion)
4.2 Service Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Service Segment 2018 - 2022 ($ billion)
4.3 Type Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Service

6.1 Market segments
Exhibit 30: Chart on Service - Market share 2023-2028 (%)
Exhibit 31: Data Table on Service - Market share 2023-2028 (%)
6.2 Comparison by Service
Exhibit 32: Chart on Comparison by Service
Exhibit 33: Data Table on Comparison by Service
6.3 Public - Market size and forecast 2023-2028
Exhibit 34: Chart on Public - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Data Table on Public - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Chart on Public - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Public - Year-over-year growth 2023-2028 (%)
6.4 Private - Market size and forecast 2023-2028
Exhibit 38: Chart on Private - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Data Table on Private - Market size and forecast 2023-2028 ($ billion)
Exhibit 40: Chart on Private - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Private - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Service
Exhibit 42: Market opportunity by Service ($ billion)
Exhibit 43: Data Table on Market opportunity by Service ($ billion)

7 Market Segmentation by Type

7.1 Market segments
Exhibit 44: Chart on Type - Market share 2023-2028 (%)
Exhibit 45: Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
Exhibit 46: Chart on Comparison by Type
Exhibit 47: Data Table on Comparison by Type
7.3 Life insurance - Market size and forecast 2023-2028
Exhibit 48: Chart on Life insurance - Market size and forecast 2023-2028 ($ billion)
Exhibit 49: Data Table on Life insurance - Market size and forecast 2023-2028 ($ billion)
Exhibit 50: Chart on Life insurance - Year-over-year growth 2023-2028 (%)
Exhibit 51: Data Table on Life insurance - Year-over-year growth 2023-2028 (%)
7.4 Term insurance - Market size and forecast 2023-2028
Exhibit 52: Chart on Term insurance - Market size and forecast 2023-2028 ($ billion)
Exhibit 53: Data Table on Term insurance - Market size and forecast 2023-2028 ($ billion)
Exhibit 54: Chart on Term insurance - Year-over-year growth 2023-2028 (%)
Exhibit 55: Data Table on Term insurance - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Type
Exhibit 56: Market opportunity by Type ($ billion)
Exhibit 57: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 59: Chart on Market share by geography 2023-2028 (%)
Exhibit 60: Data Table on Market share by geography 2023-2028 (%)
9.2 Geographic comparison
Exhibit 61: Chart on Geographic comparison
Exhibit 62: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 63: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 64: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 65: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 66: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 APAC - Market size and forecast 2023-2028
Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
Exhibit 71: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 72: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 73: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 74: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 75: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 77: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 83: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 84: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 85: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 Japan - Market size and forecast 2023-2028
Exhibit 91: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 92: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
Exhibit 93: Chart on Japan - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on Japan - Year-over-year growth 2023-2028 (%)
9.11 UK - Market size and forecast 2023-2028
Exhibit 95: Chart on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 96: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 97: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.12 France - Market size and forecast 2023-2028
Exhibit 99: Chart on France - Market size and forecast 2023-2028 ($ billion)
Exhibit 100: Data Table on France - Market size and forecast 2023-2028 ($ billion)
Exhibit 101: Chart on France - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on France - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity by geography
Exhibit 103: Market opportunity by geography ($ billion)
Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 105: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 107: Overview on factors of disruption
11.4 Industry risks
Exhibit 108: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 109: Vendors covered
12.2 Market positioning of vendors
Exhibit 110: Matrix on vendor position and classification
12.3 Aditya Birla Management Corp. Pvt. Ltd.
Exhibit 111: Aditya Birla Management Corp. Pvt. Ltd. - Overview
Exhibit 112: Aditya Birla Management Corp. Pvt. Ltd. - Product / Service
Exhibit 113: Aditya Birla Management Corp. Pvt. Ltd. - Key offerings
12.4 Allianz Care
Exhibit 114: Allianz Care - Overview
Exhibit 115: Allianz Care - Product / Service
Exhibit 116: Allianz Care - Key offerings
12.5 Bharti Enterprises Ltd.
Exhibit 117: Bharti Enterprises Ltd. - Overview
Exhibit 118: Bharti Enterprises Ltd. - Product / Service
Exhibit 119: Bharti Enterprises Ltd. - Key offerings
12.6 Centene Corp.
Exhibit 120: Centene Corp. - Overview
Exhibit 121: Centene Corp. - Business segments
Exhibit 122: Centene Corp. - Key offerings
Exhibit 123: Centene Corp. - Segment focus
12.7 CVS Health Corp.
Exhibit 124: CVS Health Corp. - Overview
Exhibit 125: CVS Health Corp. - Business segments
Exhibit 126: CVS Health Corp. - Key news
Exhibit 127: CVS Health Corp. - Key offerings
Exhibit 128: CVS Health Corp. - Segment focus
12.8 Elevance Health Inc.
Exhibit 129: Elevance Health Inc. - Overview
Exhibit 130: Elevance Health Inc. - Product / Service
Exhibit 131: Elevance Health Inc. - Key offerings
12.9 General Insurance Corp. of India Ltd.
Exhibit 132: General Insurance Corp. of India Ltd. - Overview
Exhibit 133: General Insurance Corp. of India Ltd. - Product / Service
Exhibit 134: General Insurance Corp. of India Ltd. - Key offerings
12.10 HDFC Bank Ltd.
Exhibit 135: HDFC Bank Ltd. - Overview
Exhibit 136: HDFC Bank Ltd. - Business segments
Exhibit 137: HDFC Bank Ltd. - Key offerings
Exhibit 138: HDFC Bank Ltd. - Segment focus
12.11 Independence Health Group Inc.
Exhibit 139: Independence Health Group Inc. - Overview
Exhibit 140: Independence Health Group Inc. - Product / Service
Exhibit 141: Independence Health Group Inc. - Key offerings
12.12 Indian Farmers Fertiliser Cooperative Ltd.
Exhibit 142: Indian Farmers Fertiliser Cooperative Ltd. - Overview
Exhibit 143: Indian Farmers Fertiliser Cooperative Ltd. - Product / Service
Exhibit 144: Indian Farmers Fertiliser Cooperative Ltd. - Key offerings
12.13 Life Insurance Corp. of India
Exhibit 145: Life Insurance Corp. of India - Overview
Exhibit 146: Life Insurance Corp. of India - Product / Service
Exhibit 147: Life Insurance Corp. of India - Key offerings
12.14 Max Financial Services Ltd.
Exhibit 148: Max Financial Services Ltd. - Overview
Exhibit 149: Max Financial Services Ltd. - Business segments
Exhibit 150: Max Financial Services Ltd. - Key offerings
Exhibit 151: Max Financial Services Ltd. - Segment focus
12.15 Oscar Health Inc
Exhibit 152: Oscar Health Inc - Overview
Exhibit 153: Oscar Health Inc - Product / Service
Exhibit 154: Oscar Health Inc - Key offerings
12.16 Star Health and Allied Insurance Co Ltd.
Exhibit 155: Star Health and Allied Insurance Co Ltd. - Overview
Exhibit 156: Star Health and Allied Insurance Co Ltd. - Product / Service
Exhibit 157: Star Health and Allied Insurance Co Ltd. - Key offerings
12.17 The Cigna Group
Exhibit 158: The Cigna Group - Overview
Exhibit 159: The Cigna Group - Product / Service
Exhibit 160: The Cigna Group - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 161: Inclusions checklist
Exhibit 162: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 163: Currency conversion rates for US$
13.4 Research methodology
Exhibit 164: Research methodology
Exhibit 165: Validation techniques employed for market sizing
Exhibit 166: Information sources
13.5 List of abbreviations
Exhibit 167: List of abbreviations