Health Insurance Market Size, Share, Growth Analysis, By Service Provider(Private Providers, Public Providers), By Product Type(Medical Insurance, Critical Illness Insurance), By Network Provider(Preferred Provider Organizations (PPOs), Point of Services (POS), Health Maintenance Organization (HMOs)), By End User(Corporates, Individuals), By Region - Industry Forecast 2024-2031

The global health insurance market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is expected to dominate the global health insurance market. Government initiatives to provide low-cost Medicare and Medicaid insurance, as well as increase the population covered by health-care policies, are expected to drive regional growth. Furthermore, the high cost of medical products in this region, as well as favourable healthcare reimbursement policies, support market growth. Europe is expected to be the second-largest market during the forecast period, owing to stringent federal laws requiring citizens to have at least one health insurance policy. Furthermore, rising public awareness of the importance of insurance plans will drive market growth in this region.

Due to the increasing penetration of private providers in this region and the increasing launch of schemes by central and state governments, the Asia Pacific market is expected to be the fastest-growing market with the highest CAGR during the forecast period. Furthermore, the rising prevalence of chronic diseases and densely populated countries such as China and India would support market growth. Due to the limited penetration of insurance companies in these regions, the emerging markets of Latin America and the Middle East and Africa are expected to account for lower market shares during the forecast period.