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The global health insurance market was valued at USD 1892.01 Billion in 2022 and grew at a CAGR of 9.43% from 2023 to 2032. The market is expected to reach USD 4658.94 Billion by 2032. The growth of the health insurance market can be attributed to the rise in the prevalence of chronic diseases and the increasing cost of healthcare services.
Health insurance pays for medical expenses incurred due to illnesses or accidents. Health insurance helps to reimburse the bills or directly pays the healthcare provider on behalf of the insured. A comprehensive medical insurance policy will cover the costs of operations, hospitalization, and medical care at home, among other things. A health insurance policy protects the insured against several conditions and helps them save money on taxes. Health insurance protects the savings of the insured in the event of a medical emergency. Health insurance covers the cost of treatment for illnesses caused by medical disorders, such as diabetes, obesity and hypertension.
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An increase in number of buyers of health insurance in developed economies: Today, almost 90% of Americans have health insurance, with considerable gains in coverage occurring over the last five years. Health insurance improves access to care and is linked to lower mortality rates, better health outcomes, and higher productivity. Consumers know a healthcare plan is essential for a secure, productive, and healthy life. Residents of developed economies such as the U.S., Canada, U.K., France, Italy, Japan, China, etc., acquire health insurance through a range of commercial and public sources, including their employment or direct purchase on the individual market, as well as Medicare, Medicaid, or public sources such as Veterans Affairs programmes. In recent years, the number of people with health insurance has expanded substantially, with about 20 million people becoming insured.
High cost of premium: Medical insurance premiums have climbed by 10 to 25% in recent years due to technological innovation, medical inflation and growing demand for improved healthcare facilities. According to industry participants, the increase for standalone health insurers has been substantially more significant at 15-20%, but the increase for general insurance companies has been much lower at 10-15% due to their relatively diverse portfolios.
Increased prevalence of chronic diseases: The leading causes of inability and early death in the aged population are chronic diseases. Chronic and noncommunicable diseases are already the leading causes of adult death in nearly every country, and this figure is anticipated to climb by 17% over the next decade. One-third of the world's population suffers from many chronic illnesses. Cardiovascular illnesses like heart attacks and stroke, arthritis, diabetes, cancer, breast and colon cancer, obesity, epilepsy and seizures, and oral health issues are the top chronic diseases in industrialized countries. Many insurance companies cover chronic illnesses in one of two ways: standard health insurance plans or critical illness insurance policies. Critical plans and standard health insurance policies are designed to cover these chronic and life-threatening conditions.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant health insurance market, with a 38.83% market revenue share in 2022.
North American region will account for the largest market share with revenue growth. Nations such as the U.S. and Canada have a tremendous demand for health insurance due to the growing geriatric population and increasing cases of chronic diseases, rising investment in the healthcare industry and rising cases of prolonged hospitalization. The increasing cost of healthcare services has led to a rise in health insurance purchasing.
North America Region Health Insurance Market Share in 2022 - 38.83%
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The insurance type segment is divided into medical insurance and disease insurance. The medical insurance segment dominated the market, with a share of around 65.03% in 2022. Medical insurance is policies that repay insured customers for medical expenses incurred due to injuries/illnesses. It covers the cost of surgeries, treatments, and hospitalization or directly pays out a pre-determined payment to the consumer.
The network provider segment is divided into exclusive provider organization, health management organization, preferred provider organization and point of service. The preferred provider organization segment dominated the market, with a share of around 31.95% in 2022. PPOs use networks of contracted medical practitioners and health insurance firms. Preferred providers are healthcare institutions and practitioners who offer discounted services to the insurer's plan policyholders.
The age group segment is divided into minors, adults and senior citizens. The senior citizens segment dominated the market, with a share of around 49.21% in 2022. Senior citizens are more vulnerable to chronic illnesses like cardiovascular diseases, cancer, diabetes, etc. These diseases lead to hospitalization of the patients, which can incur significant costs. Thus, healthcare insurance policies help to minimize the cost of treatment and hospitalization of the geriatric patient group.
The service providers segment is divided into public and private. The public segment dominated the market, with a share of around 58.19% in 2022. The government and their agencies provide public health insurance. The central government, the state government, or a combination manage these health insurance programs. Taxpayer monies are primarily used to fund public health insurance programmes, which pay eligible medical bills and the cost of prescription drugs.
The distribution channel segment is divided into banks, brokers/agents, direct sales, online brokers, hospitals and clinics and others. The brokers/agents segment dominated the market, with a share of around 33.02% in 2022. Many consumers prefer to buy insurance through brokers and agents of authorized companies.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 1892.01 Billion |
| Market size value in 2032 | USD 4658.94 Billion |
| CAGR (2023 to 2032) | 9.43% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Insurance Type, Network Provider, Age-Group, Service Providers and Distribution Channel |
As per The Brainy Insights, the size of the health insurance market was valued USD 1892.01 billion in 2022 to USD 4658.94 billion by 2032.
Global health insurance market is growing at a CAGR of 9.43% during the forecast period 2023-2032.
North America region emerged as the largest market for the health insurance.
The market's growth will be influenced by the increasing purchasing of health insurance.
The high cost of premium can hamper the market growth.
The increasing incidence of chronic diseases is providing huge opportunities to the market.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Insurance Type
4.3.2. Market Attractiveness Analysis by Network Provider
4.3.3. Market Attractiveness Analysis by Age-Group
4.3.4. Market Attractiveness Analysis by Service Providers
4.3.5. Market Attractiveness Analysis by Distribution Channel
4.3.6. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing purchasing of health insurance
5.3. Restraints
5.3.1. High cost of premium
5.4. Opportunities
5.4.1. Increasing incidence of chronic diseases
5.5. Challenges
5.5.1. Lack of awareness
6. Global Health Insurance Market Analysis and Forecast, By Insurance Type
6.1. Segment Overview
6.2. Medical Insurance
6.3. Diseases Insurance
7. Global Health Insurance Market Analysis and Forecast, By Network Provider
7.1. Segment Overview
7.2. Exclusive Provider Organization
7.3. Health Management Organization
7.4. Preferred Provider Organization
7.5. Point of Service
8. Global Health Insurance Market Analysis and Forecast, By Age-Group
8.1. Segment Overview
8.2. Minors
8.3. Adults
8.4. Senior Citizens
9. Global Health Insurance Market Analysis and Forecast, By Service Providers
9.1. Segment Overview
9.2. Public
9.3. Private
10. Global Health Insurance Market Analysis and Forecast, By Distribution Channel
10.1. Segment Overview
10.2. Banks
10.3. Brokers/Agents
10.4. Direct Sales
10.5. Online Brokers
10.6. Hospitals and Clinics
10.7. Others
11. Global Health Insurance Market Analysis and Forecast, By Regional Analysis
11.1. Segment Overview
11.2. North America
11.2.1. U.S.
11.2.2. Canada
11.2.3. Mexico
11.3. Europe
11.3.1. Germany
11.3.2. France
11.3.3. U.K.
11.3.4. Italy
11.3.5. Spain
11.4. Asia-Pacific
11.4.1. Japan
11.4.2. China
11.4.3. India
11.5. South America
11.5.1. Brazil
11.6. Middle East and Africa
11.6.1. UAE
11.6.2. South Africa
12. Global Health Insurance Market-Competitive Landscape
12.1. Overview
12.2. Market Share of Key Players in the Health Insurance Market
12.2.1. Global Company Market Share
12.2.2. North America Company Market Share
12.2.3. Europe Company Market Share
12.2.4. APAC Company Market Share
12.3. Competitive Situations and Trends
12.3.1. Product Launches and Developments
12.3.2. Partnerships, Collaborations, and Agreements
12.3.3. Mergers & Acquisitions
12.3.4. Expansions
13. Company Profiles
13.1. Aetna Inc.
13.1.1. Business Overview
13.1.2. Company Snapshot
13.1.3. Company Market Share Analysis
13.1.4. Company Product Portfolio
13.1.5. Recent Developments
13.1.6. SWOT Analysis
13.2. Allianz
13.2.1. Business Overview
13.2.2. Company Snapshot
13.2.3. Company Market Share Analysis
13.2.4. Company Product Portfolio
13.2.5. Recent Developments
13.2.6. SWOT Analysis
13.3. AIA Group Limited
13.3.1. Business Overview
13.3.2. Company Snapshot
13.3.3. Company Market Share Analysis
13.3.4. Company Product Portfolio
13.3.5. Recent Developments
13.3.6. SWOT Analysis
13.4. ASSICURAZIONI GENERALI S.P.A.
13.4.1. Business Overview
13.4.2. Company Snapshot
13.4.3. Company Market Share Analysis
13.4.4. Company Product Portfolio
13.4.5. Recent Developments
13.4.6. SWOT Analysis
13.5. AXA
13.5.1. Business Overview
13.5.2. Company Snapshot
13.5.3. Company Market Share Analysis
13.5.4. Company Product Portfolio
13.5.5. Recent Developments
13.5.6. SWOT Analysis
13.6. Aviva
13.6.1. Business Overview
13.6.2. Company Snapshot
13.6.3. Company Market Share Analysis
13.6.4. Company Product Portfolio
13.6.5. Recent Developments
13.6.6. SWOT Analysis
13.7. Cigna
13.7.1. Business Overview
13.7.2. Company Snapshot
13.7.3. Company Market Share Analysis
13.7.4. Company Product Portfolio
13.7.5. Recent Developments
13.7.6. SWOT Analysis
13.8. UnitedHealth Group
13.8.1. Business Overview
13.8.2. Company Snapshot
13.8.3. Company Market Share Analysis
13.8.4. Company Product Portfolio
13.8.5. Recent Developments
13.8.6. SWOT Analysis
13.9. Ping An Insurance
13.9.1. Business Overview
13.9.2. Company Snapshot
13.9.3. Company Market Share Analysis
13.9.4. Company Product Portfolio
13.9.5. Recent Developments
13.9.6. SWOT Analysis
13.10. Company of China, Ltd.
13.10.1. Business Overview
13.10.2. Company Snapshot
13.10.3. Company Market Share Analysis
13.10.4. Company Product Portfolio
13.10.5. Recent Developments
13.10.6. SWOT Analysis
13.11. Bupa
13.11.1. Business Overview
13.11.2. Company Snapshot
13.11.3. Company Market Share Analysis
13.11.4. Company Product Portfolio
13.11.5. Recent Developments
13.11.6. SWOT Analysis
13.12. Now Health International
13.12.1. Business Overview
13.12.2. Company Snapshot
13.12.3. Company Market Share Analysis
13.12.4. Company Product Portfolio
13.12.5. Recent Developments
13.12.6. SWOT Analysis
13.13. Cigna
13.13.1. Business Overview
13.13.2. Company Snapshot
13.13.3. Company Market Share Analysis
13.13.4. Company Product Portfolio
13.13.5. Recent Developments
13.13.6. SWOT Analysis
13.14. Centene Corporation
13.14.1. Business Overview
13.14.2. Company Snapshot
13.14.3. Company Market Share Analysis
13.14.4. Company Product Portfolio
13.14.5. Recent Developments
13.14.6. SWOT Analysis
13.15. Allianz Care
13.15.1. Business Overview
13.15.2. Company Snapshot
13.15.3. Company Market Share Analysis
13.15.4. Company Product Portfolio
13.15.5. Recent Developments
13.15.6. SWOT Analysis
13.16. MAPFRE, Oracle
13.16.1. Business Overview
13.16.2. Company Snapshot
13.16.3. Company Market Share Analysis
13.16.4. Company Product Portfolio
13.16.5. Recent Developments
13.16.6. SWOT Analysis
13.17. Oracle
13.17.1. Business Overview
13.17.2. Company Snapshot
13.17.3. Company Market Share Analysis
13.17.4. Company Product Portfolio
13.17.5. Recent Developments
13.17.6. SWOT Analysis
List of Table
1. Global Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
2. Global Medical Insurance, Health Insurance Market, By Region, 2019-2032 (USD Billion)
3. Global Diseases Insurance, Health Insurance Market, By Region, 2019-2032 (USD Billion)
4. Global Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
5. Global Exclusive Provider Organization, Health Insurance Market, By Region, 2019-2032 (USD Billion)
6. Global Health Management Organization, Health Insurance Market, By Region, 2019-2032 (USD Billion)
7. Global Preferred Provider Organization, Health Insurance Market, By Region, 2019-2032 (USD Billion)
8. Global Point of Service, Health Insurance Market, By Region, 2019-2032 (USD Billion)
9. Global Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
10. Global Minors, Health Insurance Market, By Region, 2019-2032 (USD Billion)
11. Global Adults, Health Insurance Market, By Region, 2019-2032 (USD Billion)
12. Global Senior Citizens, Health Insurance Market, By Region, 2019-2032 (USD Billion)
13. Global Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
14. Global Public, Health Insurance Market, By Region, 2019-2032 (USD Billion)
15. Global Private, Health Insurance Market, By Region, 2019-2032 (USD Billion)
16. Global Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
17. Global Banks, Health Insurance Market, By Region, 2019-2032 (USD Billion)
18. Global Brokers/Agents, Health Insurance Market, By Region, 2019-2032 (USD Billion)
19. Global Direct Sales, Health Insurance Market, By Region, 2019-2032 (USD Billion)
20. Global Online Brokers, Health Insurance Market, By Region, 2019-2032 (USD Billion)
21. Global Hospitals and Clinics, Health Insurance Market, By Region, 2019-2032 (USD Billion)
22. Global Others, Health Insurance Market, By Region, 2019-2032 (USD Billion)
23. Global Health Insurance Market, By Region, 2019-2032 (USD Billion)
24. North America Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
25. North America Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
26. North America Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
27. North America Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
28. North America Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
29. U.S. Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
30. U.S. Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
31. U.S. Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
32. U.S. Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
33. U.S. Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
34. Canada Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
35. Canada Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
36. Canada Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
37. Canada Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
38. Canada Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
39. Mexico Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
40. Mexico Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
41. Mexico Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
42. Mexico Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
43. Mexico Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
44. Europe Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
45. Europe Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
46. Europe Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
47. Europe Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
48. Europe Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
49. Germany Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
50. Germany Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
51. Germany Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
52. Germany Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
53. Germany Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
54. France Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
55. France Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
56. France Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
57. France Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
58. France Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
59. U.K. Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
60. U.K. Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
61. U.K. Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
62. U.K. Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
63. U.K. Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
64. Italy Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
65. Italy Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
66. Italy Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
67. Italy Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
68. Italy Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
69. Spain Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
70. Spain Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
71. Spain Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
72. Spain Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
73. Spain Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
74. Asia Pacific Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
75. Asia Pacific Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
76. Asia Pacific Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
77. Asia Pacific Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
78. Asia Pacific Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
79. Japan Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
80. Japan Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
81. Japan Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
82. Japan Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
83. Japan Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
84. China Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
85. China Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
86. China Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
87. China Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
88. China Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
89. India Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
90. India Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
91. India Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
92. India Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
93. India Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
94. South America Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
95. South America Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
96. South America Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
97. South America Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
98. South America Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
99. Brazil Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
100. Brazil Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
101. Brazil Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
102. Brazil Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
103. Brazil Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
104. Middle East and Africa Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
105. Middle East and Africa Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
106. Middle East and Africa Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
107. Middle East and Africa Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
108. Middle East and Africa Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
109. UAE Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
110. UAE Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
111. UAE Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
112. UAE Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
113. UAE Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
114. South Africa Health Insurance Market, By Insurance Type, 2019-2032 (USD Billion)
115. South Africa Health Insurance Market, By Network Provider, 2019-2032 (USD Billion)
116. South Africa Health Insurance Market, By Age-Group, 2019-2032 (USD Billion)
117. South Africa Health Insurance Market, By Service Providers, 2019-2032 (USD Billion)
118. South Africa Health Insurance Market, By Distribution Channel, 2019-2032 (USD Billion)
List of Figures
1. Global Health Insurance Market Segmentation
2. Health Insurance Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Health Insurance Market Attractiveness Analysis by Insurance Type
9. Global Health Insurance Market Attractiveness Analysis by Network Provider
10. Global Health Insurance Market Attractiveness Analysis by Age-Group
11. Global Health Insurance Market Attractiveness Analysis by Service Providers
12. Global Health Insurance Market Attractiveness Analysis by Distribution Channel
13. Global Health Insurance Market Attractiveness Analysis by Region
14. Global Health Insurance Market: Dynamics
15. Global Health Insurance Market Share by Insurance Type (2022 & 2032)
16. Global Health Insurance Market Share by Network Provider (2022 & 2032)
17. Global Health Insurance Market Share by Age-Group (2022 & 2032)
18. Global Health Insurance Market Share by Service Providers (2022 & 2032)
19. Global Health Insurance Market Share by Distribution Channel (2022 & 2032)
20. Global Health Insurance Market Share by Regions (2022 & 2032)
21. Global Health Insurance Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global health insurance market based on below mentioned segments:
Global Health Insurance Market by Insurance Type:
Global Health Insurance Market by Network Provider:
Global Health Insurance Market by Age Group:
Global Health Insurance Market by Service Providers:
Global Health Insurance Market by Distribution Channel:
Global Health Insurance Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
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The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
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Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
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In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
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