The Business Research Company’s Health And Medical Insurance Global Market Report 2021: COVID 19 Impact And Recovery To 2030
LONDON, GREATER LONDON , UK, August 23, 2021 /EINPresswire.com/ — Major companies operating in the health & medical insurance industry are undergoing strategic partnerships and collaborations to expand their consumer base and geographical presence, which is likely to be a leading trend in the health & medical insurance market. For instance, in January 2020, Cigna, a health service company, and Oscar, a US-based technology-driven health insurance company announced a partnership to provide commercial health solutions to small businesses.
The major players covered in the global health and medical insurance industry are Allianz Group, UnitedHealth Group Incorporated, AIA Group Limited, Anthem Inc., AXA Equitable Life Insurance Company, China Life Insurance Company Limited, Cigna, HCSC Group, State Farm Group, Zurich Insurance Group, Berkshire Hathaway Inc., Prudential plc, Nippon Life Insurance Company.
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The global health & medical insurance market size is expected to grow from $3.85 trillion in 2020 to $3.91 trillion in 2021 at a compound annual growth rate (CAGR) of 1.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.53 trillion in 2025 at a CAGR of 13.7%. The increase in the prevalence of chronic diseases and the expected rise in the geriatric population contributes to the growth of the health and medical insurance market.
The health and medical insurance market consist of sales of health and medical insurance by entities (organizations, sole traders, and partnerships) that are engaged in directly underwriting health and medical insurance policies. Group hospitalization plans and health maintenance organization HMO establishments (except those providing health care services) that provide health and medical insurance policies are included in this industry. Clients of these insurance providers are the general public/companies who buy medical and health insurance policies, it can be either through intermediary or direct selling. Only goods and services traded between entities or sold to end consumers are included.
TBRC’s health and medical insurance market report is segmented by type into hospitalization insurance, hospital daily cash benefit insurance, critical illness insurance, domiciliary insurance, others; by service provider into private, public; by demographics into minor, adults, senior citizen
Health And Medical Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that provides health and medical insurance market overview, forecast health and medical insurance market size and growth for the whole market, health and medical insurance market segments, and geographies, health and medical insurance market trends, health and medical insurance market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Insurance Global Market Report 2021 – By Type (Life Insurance, Property & Casualty Insurance, Health & Medical Insurance), By End User (Corporate, Individual), By Mode (Online, Offline), COVID-19 Impact And Recovery
Hospitalization Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030
Domiciliary Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030
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