Healthcare Insurance Market by Coverage Type (Term, Lifetime), by Insurance Type (Medical, Disease, Income Protection), by Service Provider (Public, Private), by Insurance Network (Exclusive Provider Organization, Preferred Provider Organization, Point of Service, Health Maintenance Organization), by Insured Type (Adults, Senior Citizens, Minors), by Distribution Channel (Agents/Brokers, Direct Marketing, Bancassurance), by Geography (U.

New York, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Healthcare Insurance Market by Coverage Type, by Insurance Type, by Service Provider, by Insurance Network, by Insured Type, by Distribution Channel, by Geography Global Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024" - https://www.reportlinker.com/p05775427/?utm_source=GNW
S., Canada, Germany, France, U.K., Italy Spain, Russia, Switzerland, Sweden, Belgium, Poland, Norway, China, India, Japan, Australia, Singapore, Malaysia, Brazil, Mexico, Argentina, Chile, Colombia, U.A.E., Israel, South Africa, Saudi Arabia) Global Market Size, Share, Development, Growth, and Demand Forecast, 2014-2024

According to the report, the global healthcare insurance market is predicted to attain a size of $2.2 trillion by 2024, progressing at a CAGR of 4.3% during the forecast period (2019–2024). The main factors driving the growth of the market are increasing prevalence of chronic diseases, surging geriatric population, rising healthcare expenditure, and huge medical costs around the globe.

Lifetime and term are the two kinds of coverages offered in the global healthcare insurance market. In 2018, the term coverage category held the larger revenue share of 76.5% in the market. This can be ascribed to various benefits attached with this category, such as receipt of a lump sum amount at term end, low cost of premiums, and rising awareness about the advantages of health insurance among the global population.

The service provider segment is classified into private and public. Of these, the public service provider classification dominated the healthcare insurance market. In 2018, it generated a revenue of nearly $0.9 trillion and is projected to reach $1.2 trillion by 2024, advancing at a CAGR of 4.1%. However, the private service provider classification is anticipated to observe the faster growth in the market, registering at a CAGR of 4.7% during 2019–2024.

North America is leading the global healthcare insurance market and is projected to advance at a CAGR of 3.7% during the forecast period, owing to the well-structured insurance and healthcare system, compulsory provision of health insurance from employers, and increasing number of chronic disease cases in the continent.

On a global ground, the market is predicted to observe the fastest growth in Asia-Pacific (APAC), registering a CAGR of 5.7% during the forecast period. Furthermore, the region is estimated to generate a revenue of nearly $0.5 trillion for the market by 2024. The main factors driving the market growth in APAC are expanding healthcare sector, growing healthcare awareness, and increasing prevalence of chronic diseases.

In the region, the overall dynamics of the healthcare sector are changing, especially on account of the improving infrastructure and growing healthcare expenditure. Due to these changes, healthcare insurance plans are becoming popular among the residents of regional countries. For instance, in November 2018, Insurinnovator Connect organized a conference on health insurance in Hong Kong, which saw the presence of esteemed healthcare insurance players, mainly from the APAC region. The conference concentrated on the growing healthcare insurance industry and innovations and advancements in this domain.

Similarly, in 2019, IBC Asia (S) Pte Ltd., a Singapore-based conference, exhibition, and training company, plans to host its 13th annual healthcare insurance conference in Singapore. The key points of this conference will be the services and innovations in the Asian market, insights into the expanding healthcare insurance market, and digital transformation of the sector. Such seminars and conference create awareness about the advantages and features of healthcare insurance products, resulting in the market growth.

HEALTHCARE INSURANCE MARKET SEGMENTATION
Market Segmentation by Coverage Type
• Term
• Lifetime

Market Segmentation by Insurance Type
• Medical
• Disease
• Income Protection

Market Segmentation by Service Provider
• Public
• Private

Market Segmentation by Insurance Network
• Exclusive Provider Organization (EPO)
• Preferred Provider Organization (PPO)
• Point of Service (POS)
• Home Maintenance Organization (HMO)

Market Segmentation by Insured Type
• Adults
• Senior Citizens
• Minors
Market Segmentation by Distribution Channel
• Agents/Brokers
• Bancassurance
• Direct Marketing

Market Segmentation by Geography
• North America Healthcare Insurance Market

- By coverage type
- By insurance type
- By service provider
- By insurance network
- By insured type
- By distribution channel
- By country – U.S. and Canada

• Europe Healthcare Insurance Market

- By coverage type
- By insurance type
- By service provider
- By insurance network
- By insured type
- By distribution channel
- By country – Germany, France, U.K., Italy, Spain, Russia, Switzerland, Sweden, Belgium, Poland, Norway, and Rest of Europe

• Asia-Pacific (APAC) Healthcare Insurance Market

- By coverage type
- By insurance type
- By service provider
- By insurance network
- By insured type
- By distribution channel
- By country – China, India, Japan, Australia, Singapore, Malaysia, and Rest of APAC

• Latin America (LATAM) Healthcare Insurance Market
- By coverage type
- By insurance type
- By service provider
- By insurance network
- By insured type
- By distribution channel
- By country – Brazil, Mexico, Argentina, Chile, Colombia, and Rest of LATAM

• Middle East and Africa (MEA) Healthcare Insurance Market

- By coverage type
- By insurance type
- By service provider
- By insurance network
- By insured type
- By distribution channel
- By country – U.A.E., Israel, South Africa, Saudi Arabia, and Rest of MEA
Read the full report: https://www.reportlinker.com/p05775427/?utm_source=GNW

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