Critical Illness Insurance Market Report: Trends, Forecast and Competitive Analysis to 2030

Critical Illness Insurance Trends and Forecast

The future of the global critical illness insurance market looks promising with opportunities in the cancer, heart attack, and stroke markets. The global critical illness insurance market is expected to reach an estimated $347.83 billion by 2030 with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are increasing number of health issues, such as heart failure, cancer, and other serious illness along with rising awareness among people towards the benefits of using critical illness insurance.

A more than 150-page report is developed to help in your business decisions.

Critical Illness Insurance by Segment

The study includes a forecast for the global critical illness insurance by premium type, application, end use, and region.

Critical Illness Insurance Market by Premium Type [Shipment Analysis by Value from 2018 to 2030]:

• Monthly
• Quarterly
• Half Yearly
• Yearly

Critical Illness Insurance Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Cancer
• Heart Attack
• Stroke
• Other

Critical Illness Insurance Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Individual
• Businesses

Critical Illness Insurance Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Critical Illness Insurance Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies critical illness insurance companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the critical illness insurance companies profiled in this report include-

• Allianz
• China Life Insurance
• Aflac Incorporated
• Aegon
• Prudential
• AIG
• American Fidelity
• Aviva
• UnitedHealthcare
• Desjardins

Critical Illness Insurance Market Insights

Lucintel forecasts that monthly premium will remain the largest segment over the forecast period due to the high premium price of critical illness insurance.

Within this market, cancer will remain the largest segment due to rising prevalence of cancer across the globe.

North America will remain the largest region over the forecast period due to the growing cases of chronic diseases, such as cancer, stroke, heart disorders, and kidney failure in the region.

Features of the Global Critical Illness Insurance Market

Market Size Estimates: Critical illness insurance market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Critical illness insurance market size by premium type, application, end use, and region in terms of value ($B).

Regional Analysis: Critical illness insurance market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different premium types, applications, end uses, and regions for the critical illness insurance market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the critical illness insurance market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the critical illness insurance market size?

Answer: The global critical illness insurance market is expected to reach an estimated $347.83 billion by 2030.

Q2. What is the growth forecast for critical illness insurance market?

Answer: The global critical illness insurance market is expected to grow with a CAGR of 8.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the critical illness insurance market?

Answer: The major drivers for this market are increasing number of health issues, such as heart failure, cancer, and other serious illness along with rising awareness among people towards the benefits of using critical illness insurance.

Q4. What are the major segments for critical illness insurance market?

Answer: The future of the critical illness insurance market looks promising with opportunities in the cancer, heart attack, and stroke markets.

Q5. Who are the key critical illness insurance market companies?

Answer: Some of the key critical illness insurance companies are as follows:

• Allianz
• China Life Insurance
• Aflac Incorporated
• Aegon
• Prudential
• AIG
• American Fidelity
• Aviva
• UnitedHealthcare
• Desjardins

Q6. Which critical illness insurance market segment will be the largest in future?

Answer: Lucintel forecasts that monthly premium will remain the largest segment over the forecast period due to the high premium price of critical illness insurance.

Q7. In critical illness insurance market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the growing cases of chronic diseases, such as cancer, stroke, heart disorders, and kidney failure in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the critical illness insurance market by premium type (monthly, quarterly, half yearly, and yearly), application (cancer, heart attack, stroke, and other), end use (individual and businesses), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?