Asia-Pacific Health Insurance Market 2020 Size, COVID-19

Noble Horvath

Asia-Pacific Health Insurance Market To prepare this Health Insurance Market research report, an array of objectives of market research has been considered. While formulating this market report, marketing administration stays extremely aware about certain things that include the minds of target markets, feelings, preferences, attitudes, convictions & value systems. The […]

Asia-Pacific Health Insurance Market

To prepare this Health Insurance Market research report, an array of objectives of market research has been considered. While formulating this market report, marketing administration stays extremely aware about certain things that include the minds of target markets, feelings, preferences, attitudes, convictions & value systems. The report takes into account all the aspects of market that are needed to create the finest and top-notch market research report. A wide ranging Health Insurance Market document is a genuine source of information which puts forth a telescopic view of the current market trends, situations, opportunities and status.

Health Insurance Market business research report works best for systematic gathering, recording and analysis of data for the issues related to the marketing of goods to serve the industry with an excellent market research report. The analysis of this report underlines various segments that are relied upon to witness the quickest development based on the estimated forecast frame. This unique and excellent market report has been formulated by a team of keen analysts, skilled researchers and skilled forecasters who work strictly towards it. The global Health Insurance Market report is very beneficial for industry to reveal the best market opportunities and look after important information to efficiently reach towards success.

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Market Analysis and Insights: Asia-Pacific Health Insurance Market

Health insurance market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.3% in the forecast period of 2020 to 2027 and expected to reach USD 594,240.31 million by 2027. Government is taking initiatives to promote health insurance and strong investment from myriad of local players and global insurers are the factors for the market growth.

The major players covered in the Asia-Pacific Health Insurance Market report are Unitedhealth Group, Anthem Insurance Companies, Inc. (A Subsidiary Of Anthem, Inc.), Aetna Inc. (A Subsidiary of CVS Health), Centene Corporation, Cigna, Allianz Care (A Subsidiary of Allianz), Axa, Assicurazioni Generali S.P.A., Bupa, AIA Group Limited, Aviva, BMI Healthcare, Broadstone Corporate Benefits Limited, HBF Health Limited, Healthcare International Global Network Ltd., International Medical Group, Inc. (A Subsidiary Of Sirius International Insurance Group Ltd.), Mapfre, Now Health International, Oracle, VHI Group, Vitality Corporate Services Limited (A Subsidiary of Discovery Limited) among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Get Full TOC, Tables and Figures of Market Report @ https://www.databridgemarketresearch.com/toc/?dbmr=asia-pacific-health-insurance-market&rp

Health insurance offers various benefits for sharing of costs and availability of necessary healthcare services at the time of requirement. Moreover, it offers convenience to the patient and family at the time of difficulty as they do not have to manage finances on the spot.

Increased economic activity in the region leading to increased share of working population coupled with the absence of well-structured public health insurance systems makes the region lucrative for global insurance companies seeking to expand regional presence.

This Health Insurance Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic decisions, product launches, geographic expansions, and innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.

Asia-Pacific Health Insurance Market Scope and Market Size :

Asia-Pacific health insurance market is segmented on the basis of type, services, level of coverage, service providers, health insurance plans, demographics, coverage type, end user and distribution channel. The growth among these segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of type, the market is segmented into products and solutions. The product segment is dominating in the market due to low penetration of solutions in a significant number of countries in the Asia-Pacific region. The health insurance sector is varied and unique in Asia-Pacific with countries such as China and Japan with well-established public health insurance systems while other countries harbouring a large uninsured population that provides ground for future growth.  The steady growth in this sector coupled with continuous reforms in different countries in the Asia-pacific region which is fuelling the growth of insurance policies in the region. For instance, the Insurance regulatory development authority in India (IRDAI) is working towards enhancing the scope of health insurance coverage and benefits for certain ailments/diseases and medical procedures that were excluded previously.

On the basis of services, the market is segmented into inpatient treatment, outpatient treatment, medical assistance and others. Inpatient treatment is dominating the market as most of the insurance companies offer health plans with high cover or limit along with other types of plans. The cost of inpatient services is also significantly higher than that of outpatient services. For instance, as per a study conducted in the Hubei province of China to study the per capita outpatient expenditure, inpatient expenditure and total medical expenditure of the population, it was observed that the expenditure on inpatient services was significantly higher as compared to outpatient services.

On the basis of level of coverage, the market is segmented into bronze, silver, gold and platinum. Bronze level of insurance policies coverage holds the highest share as they have significantly lower premiums as compared to other types of coverage. For instance, in several Asian countries such as Thailand where health insurance premiums are unaffordable to the large numbers of low income people, low insurance premiums are readily favourable.

On the basis of service providers, the market is segmented into public health insurance providers and private health insurance providers. Public health insurances are dominating the market due to well-established public health insurance system in large countries such as China. However, private health insurance providers’ sectors expected to grow at a higher CAGR with the increasing cost of healthcare. As the cost of overall healthcare infrastructure increases, the gap being created between the affordability of the government and total coverage offers significant opportunity for private health insurance to step in.

On the basis of health insurance plans, the market is segmented into point of service (POS), exclusive provider organization (EPOS), indemnity health insurance, health savings account (HSA), qualified small employer health reimbursement arrangements (QSEHRAS), preferred provider organization (PPO), health maintenance organization (HMO) and others. Point of service (POS) plans are dominating the Asia-Pacific health insurance market as most countries do not have any established customer facing plans and most plans largely resemble POS plans offering the mixed benefits of fixed physician and a random network of providers.

On the basis of demographics, the market is segmented into adults, minors and senior citizens. Adults are dominating the market being the primary working population with disposable income, adults play a significant role in cost sharing and aiding the growth of the health insurance market in Asia-Pacific. As a result most private health insurance companies target young adults as potential customers. For instance, Medibank offers low premium hospital cover to 18-29 year olds with the aim to make health insurance more accessible for younger Australians.

On the basis of coverage type, the market is segmented into lifetime coverage and term coverage. Lifetime coverage is dominating the market as most insurance payers, especially publically funded health insurance plans offer lifetime coverage as a result of several government interventions, lifetime renewal is applicable for health insurance even for private health insurers. For instance, IRDAI mandates lifetime renewability and private insurers cannot refuse to grant renewal of mediclaim policies on arbitrary grounds.

On the basis of end user, the market is segmented into corporates, individuals and others. Corporates are dominating the market due to regulations in several countries mandating employers to provide health insurance to all the salaried employees.

On the basis of distribution channel, the market is segmented into direct sales, financial institutions, e-commerce, hospitals, clinics and others. Direct sales are dominating the market as it includes insurance companies, agents as well as brokers. For instance, in India, a large number of individuals and families buy health insurance policies through brokers and agents whereas employers directly contact insurance companies to seek health insurance policies for employees.

Strong Initiatives from Public and Private Sectors to Provide Universal Medical Coverage :

Asia-Pacific health insurance market also provides you with detailed market analysis for every country growth in the healthcare insurance industry with health insurance sales, penetration across territories, impact of technological development and changes in regulatory scenarios with their support for the health insurance market. The data is available for historic period 2010 to 2018.

Health Insurance Market Reports – Table of Contents

1. Preface

    1.1. Market Definition and Scope

    1.2. Market Segmentation

    1.3. Key Research Objectives

    1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary: Global Health Insurance Market

4. Market Overview

    4.1. Introduction

    4.2. Overview

    4.3. Market Dynamics

    4.4. Porter’s Five Force Analysis

5. Key Insights

    5.1. Technological Advancements

    5.2. Pricing Analysis

    5.3. Recent Developments

6. Global Health Insurance Market Analysis and Forecast, By Product

7. Global Health Insurance Market Analysis and Forecast, By Detector

8. Global Health Insurance Market Analysis and Forecast, By Technology

9. Global Health Insurance Market Analysis and Forecast, By Application

10. Global Health Insurance Market Analysis and Forecast, By End-user

11. Global Health Insurance Market Analysis and Forecast, By Region

12. North America Health Insurance Market Analysis and Forecast

13. Europe Health Insurance Market Analysis and Forecast

14. Asia Pacific Health Insurance Market Analysis and Forecast

15. Latin America Health Insurance Market Analysis and Forecast

16. Middle East & Africa Health Insurance Market Analysis and Forecast

17. Competitive Landscape

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This release was published on openPR.

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