Rising Health Issues Worldwide Driving Demand for Health Insurance Market to Grow $4.47 Trillion, Globally, at 4.4% CAGR
Pune, Maharashtra, India, September 9 2020 (Wiredrelease) Allied Analytics :Increase in healthcare expenses, mandatory provision of healthcare insurance for public and private sectors, and rise in prevalence of chronic diseases have boosted the growth of the global health insurance market. However, stringent regulation and longer time for claim reimbursement and dearth of awareness of healthcare insurance in rural region hamper the market. On the contrary, innovation in healthcare insurance products is expected to create lucrative opportunities in the near future.
According to the report, the global health insurance industry was pegged at $3.15 trillion in 2018 and is projected to reach $4.47 trillion by 2026, registering a CAGR of 4.4% during the forecast period.
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Public service providers segment dominated the market
The public service providers segment held the largest share in 2018, accounting for more than half of the global health insurance market, as these