Health Insurance Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Insurance Provider, By Type of Coverage, By Term of Coverage, By Mode of Purchase, By End Users, By Region, By Competition, 2020-2030F

Description

The Global Health Insurance Market, valued at USD 1976.21 Billion in 2024, is projected to experience a CAGR of 5.20% to reach USD 2678.72 Billion by 2030. Health insurance constitutes a contractual agreement wherein an insurer provides financial protection for medical and surgical expenses incurred by the insured, covering specific healthcare services and treatments in exchange for regular premium payments. The global market's expansion is fundamentally supported by the escalating worldwide healthcare costs, an increasing aging demographic necessitating greater medical care, and enhanced public awareness regarding the importance of health coverage. Additionally, governmental efforts to promote broader insurance accessibility also fuel market development.

Market Overview
Forecast Period	2026-2030
Market Size 2024	USD 1976.21 Billion
Market Size 2030	USD 2678.72 Billion
CAGR 2025-2030	5.2%
Fastest Growing Segment	Lifetime
Largest Market	North America

Key Market Drivers

The relentless upward trajectory of healthcare expenditures globally exerts significant pressure on both individuals and national economies, directly fueling demand for health insurance solutions. As medical treatments become more advanced and accessible, the associated costs for diagnostic procedures, pharmaceuticals, and specialized care escalate. This financial burden necessitates the transfer of risk to insurance providers, as individuals seek protection against unforeseen and substantial medical bills. For example, according to the World Health Organization's Global Health Expenditure Database, domestic public spending on health in 2022 remained 6%-7% above prepandemic levels in most income groups, illustrating the sustained elevation of healthcare costs. This ongoing increase in expenses makes health insurance an indispensable tool for financial planning and security, driving higher adoption rates across various demographics and economic strata.

Key Market Challenges

The continuous rise in healthcare expenditures presents a significant impediment to the sustained growth of the Global Health Insurance Market. This upward trend directly contributes to elevated insurance premiums, which subsequently challenges the affordability of health coverage for various population segments. When premium costs increase, both individuals and employers face greater financial burdens, potentially leading to decisions to scale back on coverage or defer purchasing new policies.

The impact of these escalating costs is substantial, directly restricting market penetration and overall expansion. For instance, according to the International Federation of Health Plans' 2024 International Healthcare Cost Comparison Report, the median cost of a coronary bypass surgery in the United States was $89,094, a figure notably higher than in other developed countries. Such high underlying medical costs compel insurers to price their products accordingly, making comprehensive health insurance less accessible to a wider demographic and thereby constraining the market's ability to grow.

Key Market Trends

The increased integration of digital health and telemedicine platforms profoundly influences the global health insurance market, enhancing accessibility and operational efficiency. These platforms enable insurers to offer convenient, immediate care options, reducing costly in-person consultations and streamlining claims processes. According to the International Foundation of Employee Benefit Plans, in August 2023, 12% of employers cited telemedicine and price transparency tools as key purchasing and provider initiatives to manage healthcare costs, underscoring the growing strategic importance of digital solutions within the industry. Furthermore, Cigna Healthcare, in its June 2025 announcement, unveiled new AI-powered digital tools designed to provide a more streamlined and reliable customer experience, demonstrating a clear industry shift toward embedding advanced digital capabilities into core service offerings. This evolution optimizes cost management and elevates customer satisfaction through accessible virtual tools.

Key Market Players

Now Health International (Investments) Limited
The Cigna Group
Aetna Inc.
AXA - Global Healthcare
HBF Health Limited
Centene Corporation
International Medical Group, Inc.
Elevance Health, Inc.
Broadstone Corporate Benefits Limited
Allianz Care

Report Scope:

In this report, the Global Health Insurance Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Health Insurance Market, By Insurance Provider:

Public
Private
Standalone Health Insurers

Health Insurance Market, By Type of Coverage:

Individual
Family

Health Insurance Market, By Term of Coverage:

Term
Lifetime

Health Insurance Market, By Mode of Purchase:

Direct Company Representatives
Online Portal
Insurance Agent

Health Insurance Market, By End Users:

Minors
Adults
Senior Citizens

Health Insurance Market, By Region:

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Health Insurance Market.

Available Customizations:

Global Health Insurance Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Health Insurance Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Insurance Provider (Public, Private, Standalone Health Insurers)
- 5.2.2. By Type of Coverage (Individual, Family)
- 5.2.3. By Term of Coverage (Term, Lifetime)
- 5.2.4. By Mode of Purchase (Direct Company Representatives, Online Portal, Insurance Agent)
- 5.2.5. By End Users (Minors, Adults, Senior Citizens)
- 5.2.6. By Region
- 5.2.7. By Company (2024)
5.3. Market Map

6. North America Health Insurance Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Insurance Provider
- 6.2.2. By Type of Coverage
- 6.2.3. By Term of Coverage
- 6.2.4. By Mode of Purchase
- 6.2.5. By End Users
- 6.2.6. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Health Insurance Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Insurance Provider
    - 6.3.1.2.2. By Type of Coverage
    - 6.3.1.2.3. By Term of Coverage
    - 6.3.1.2.4. By Mode of Purchase
    - 6.3.1.2.5. By End Users
- 6.3.2. Canada Health Insurance Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Insurance Provider
    - 6.3.2.2.2. By Type of Coverage
    - 6.3.2.2.3. By Term of Coverage
    - 6.3.2.2.4. By Mode of Purchase
    - 6.3.2.2.5. By End Users
- 6.3.3. Mexico Health Insurance Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Insurance Provider
    - 6.3.3.2.2. By Type of Coverage
    - 6.3.3.2.3. By Term of Coverage
    - 6.3.3.2.4. By Mode of Purchase
    - 6.3.3.2.5. By End Users

7. Europe Health Insurance Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Insurance Provider
- 7.2.2. By Type of Coverage
- 7.2.3. By Term of Coverage
- 7.2.4. By Mode of Purchase
- 7.2.5. By End Users
- 7.2.6. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Health Insurance Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Insurance Provider
    - 7.3.1.2.2. By Type of Coverage
    - 7.3.1.2.3. By Term of Coverage
    - 7.3.1.2.4. By Mode of Purchase
    - 7.3.1.2.5. By End Users
- 7.3.2. France Health Insurance Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Insurance Provider
    - 7.3.2.2.2. By Type of Coverage
    - 7.3.2.2.3. By Term of Coverage
    - 7.3.2.2.4. By Mode of Purchase
    - 7.3.2.2.5. By End Users
- 7.3.3. United Kingdom Health Insurance Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Insurance Provider
    - 7.3.3.2.2. By Type of Coverage
    - 7.3.3.2.3. By Term of Coverage
    - 7.3.3.2.4. By Mode of Purchase
    - 7.3.3.2.5. By End Users
- 7.3.4. Italy Health Insurance Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Insurance Provider
    - 7.3.4.2.2. By Type of Coverage
    - 7.3.4.2.3. By Term of Coverage
    - 7.3.4.2.4. By Mode of Purchase
    - 7.3.4.2.5. By End Users
- 7.3.5. Spain Health Insurance Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Insurance Provider
    - 7.3.5.2.2. By Type of Coverage
    - 7.3.5.2.3. By Term of Coverage
    - 7.3.5.2.4. By Mode of Purchase
    - 7.3.5.2.5. By End Users

8. Asia Pacific Health Insurance Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Insurance Provider
- 8.2.2. By Type of Coverage
- 8.2.3. By Term of Coverage
- 8.2.4. By Mode of Purchase
- 8.2.5. By End Users
- 8.2.6. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Health Insurance Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Insurance Provider
    - 8.3.1.2.2. By Type of Coverage
    - 8.3.1.2.3. By Term of Coverage
    - 8.3.1.2.4. By Mode of Purchase
    - 8.3.1.2.5. By End Users
- 8.3.2. India Health Insurance Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Insurance Provider
    - 8.3.2.2.2. By Type of Coverage
    - 8.3.2.2.3. By Term of Coverage
    - 8.3.2.2.4. By Mode of Purchase
    - 8.3.2.2.5. By End Users
- 8.3.3. Japan Health Insurance Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Insurance Provider
    - 8.3.3.2.2. By Type of Coverage
    - 8.3.3.2.3. By Term of Coverage
    - 8.3.3.2.4. By Mode of Purchase
    - 8.3.3.2.5. By End Users
- 8.3.4. South Korea Health Insurance Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Insurance Provider
    - 8.3.4.2.2. By Type of Coverage
    - 8.3.4.2.3. By Term of Coverage
    - 8.3.4.2.4. By Mode of Purchase
    - 8.3.4.2.5. By End Users
- 8.3.5. Australia Health Insurance Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Insurance Provider
    - 8.3.5.2.2. By Type of Coverage
    - 8.3.5.2.3. By Term of Coverage
    - 8.3.5.2.4. By Mode of Purchase
    - 8.3.5.2.5. By End Users

9. Middle East & Africa Health Insurance Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Insurance Provider
- 9.2.2. By Type of Coverage
- 9.2.3. By Term of Coverage
- 9.2.4. By Mode of Purchase
- 9.2.5. By End Users
- 9.2.6. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Health Insurance Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Insurance Provider
    - 9.3.1.2.2. By Type of Coverage
    - 9.3.1.2.3. By Term of Coverage
    - 9.3.1.2.4. By Mode of Purchase
    - 9.3.1.2.5. By End Users
- 9.3.2. UAE Health Insurance Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Insurance Provider
    - 9.3.2.2.2. By Type of Coverage
    - 9.3.2.2.3. By Term of Coverage
    - 9.3.2.2.4. By Mode of Purchase
    - 9.3.2.2.5. By End Users
- 9.3.3. South Africa Health Insurance Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Insurance Provider
    - 9.3.3.2.2. By Type of Coverage
    - 9.3.3.2.3. By Term of Coverage
    - 9.3.3.2.4. By Mode of Purchase
    - 9.3.3.2.5. By End Users

10. South America Health Insurance Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Insurance Provider
- 10.2.2. By Type of Coverage
- 10.2.3. By Term of Coverage
- 10.2.4. By Mode of Purchase
- 10.2.5. By End Users
- 10.2.6. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Health Insurance Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Insurance Provider
    - 10.3.1.2.2. By Type of Coverage
    - 10.3.1.2.3. By Term of Coverage
    - 10.3.1.2.4. By Mode of Purchase
    - 10.3.1.2.5. By End Users
- 10.3.2. Colombia Health Insurance Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Insurance Provider
    - 10.3.2.2.2. By Type of Coverage
    - 10.3.2.2.3. By Term of Coverage
    - 10.3.2.2.4. By Mode of Purchase
    - 10.3.2.2.5. By End Users
- 10.3.3. Argentina Health Insurance Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Insurance Provider
    - 10.3.3.2.2. By Type of Coverage
    - 10.3.3.2.3. By Term of Coverage
    - 10.3.3.2.4. By Mode of Purchase
    - 10.3.3.2.5. By End Users

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Health Insurance Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Now Health International (Investments) Limited
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. The Cigna Group
15.3. Aetna Inc.
15.4. AXA - Global Healthcare
15.5. HBF Health Limited
15.6. Centene Corporation
15.7. International Medical Group, Inc.
15.8. Elevance Health, Inc.
15.9. Broadstone Corporate Benefits Limited
15.10. Allianz Care