Report ID: SQMIG40N2008
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
Report ID:
SQMIG40N2008 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
114 |
Figures:
77
Health Insurance Market Dynamics
Health Insurance Market Drivers
- One of the key driving factors that would fuel the health insurance market is the growing geriatric population. A large proportion of the elderly population suffers from one or more chronic diseases, such as heart disease, cancer, type 2 diabetes, or arthritis, which increases the demand for HI policies among this age group. Furthermore, the adoption of sedentary lifestyles among the adult population is increasing the patient pool with various chronic diseases. According to the National Cancer Institute, approximately 1,806,590 new cancer cases will be diagnosed in 2020, with 606,520 people dying from the disease in the United States.
Health Insurance Market Restraints
- Insurance fraud, which has resulted in stringent government regulations for verification purposes, is one of the factors limiting growth. For example, a false claim for an accident that never occurred, fabricated death claims, and a lack of awareness about the importance of insurance in developing and underdeveloped countries would all have a negative impact on market growth. In developing markets such as Asia and Africa, less than half of the population has health insurance.
Health Insurance Market Report Snapshots
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