HEALTH INSURANCE MARKET ANALYSIS

Regional Analysis

Global Health Insurance Market: Regional Insights

Based on geography, the global health insurance market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the rising prevalence of chronic diseases, growing geriatric population, increase in awareness among people about health insurance, and the presence of a large number of insurance companies in the region. For instance, Medicaid is a federal and state program that helps people with limited income and resources to cover medical costs, covering benefits normally not covered by Medicare, as nursing home care and personal care services. It is a largest source of funding for medical and health-related services for people with low income in the U.S.

Asia Pacific is expected to witness robust growth in the global health insurance market due to the growing burden of chronic disease, growing geriatric population, the outbreak of COVID-19, and rise in awareness among people about health insurance in the region. For instance, health policy purchases in India are steadily increasing. According to the National Family Health Survey 2019-21 (NFHS-5 survey), around 41% of Indian families have at least one individual covered by the Medical Insurance Plan, up from 28.7% in the previous NFHS-4 study. The Indian population has realized the value of health insurance due to the pandemic.

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Middle East and Africa: GCC Countries, Israel, Rest of Middle East, South Africa, North Africa, and Central Africa