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At 7.9% CAGR, Global Healthcare Insurance Market to Surpass US$ 2,030.1 Bn By 2026, Forecast Report By Zion Market Research

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The global Healthcare Insurance Market which was estimated at 1.132 USD Trillion in 2019 and is predicted to accrue earnings worth 2.03 USD Trillion by 2026, is set to record a CAGR of nearly 7.9% over 2020-2026. The report offers a valuation and analysis of the Healthcare Insurance Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Introduction

Healthcare insurance is a kind of insurance coverage that is paid for medical, surgical, prescribed medicine, and dental expenditure incurred by the insurer. Moreover, enforcement of Patient Protection and Affordable Act – a largest healthcare initiative by the U.S. government – in March 2010 has brought a change in healthcare system in the country. The move made by the government was aimed at easing accessibility to healthcare insurance in the U.S. These favorable initiatives taken by the U.S. government is likely to embellish the expansion of healthcare insurance industry across the globe in the near future.

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Market Growth Dynamics

Rise in the aging population prone to chronic ailments and a surge in the per capita income of the consumers will prompt the healthcare insurance market size over the assessment timeframe. Apart from this, prominent inflation in the gross domestic product of emerging economies and unmet medical requirements of the population will steer the market trends. Additionally, huge medical expenditure associated with the hospitalization of patients with chronic is likely to pave a way for the growth of the healthcare insurance industry over the forecast timespan. In addition to this, favorable government healthcare reimbursement policies pertaining to surgeries will open new growth dimensions for the healthcare industry over the assessment timeline from 2020 to 2026.

With inception of new pandemics like COVID-19, Swine Flu, and Bird Flu, it is more likely that the healthcare insurance market will gain traction over the forthcoming years. Apart from this, escalating awareness among the people about the benefits of the healthcare insurance policy will further accelerate the pace of the growth of the healthcare insurance industry over the upcoming years. Nevertheless, inflating costs of healthcare insurance products and strict laws pertaining to claim reimbursement procedure will put brakes on the business growth.

Regional Analysis

North America To Contribute Sizably Towards Market Value By 2026

The expansion of the industry in North America during the assessment period can be credited to value proposition created by the giant players in the countries like the U.S. Additionally, there are behemoth firms in the region and this will account majorly towards the regional market size in the years ahead. Easy access to Medicare in the countries like the U.S. will proliferate the rate of growth of the industry in North America over the upcoming years.

Competitive Landscape

Key players profiled in the study include AXA, Prudential Financial, Inc., Kaiser Foundation Health Plan, Inc., Apollo Munich Health Insurance Company Ltd., Allianz, ASSICURAZIONI GENERALI S.P.A., UnitedHealth Group, Berkshire Hathaway Inc., Aetna Inc., China Life Insurance (Group) Company, International Medical Group Inc., AIA Group Limited, Anthem, Inc., Japan Post Holding Co., Ltd., Aviva, Cigna, Munich Re Group, Express Scripts Holding Company, and Zurich Insurance Group Ltd.

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