According to the research report titled ‘Health Insurance Market Size By Service Provider (Private, Public), By Type (Hospitalization Insurance, Critical Illness Insurance, Income Protection Insurance, Medical Insurance), By Network Provider (Health Maintenance Organization [HMO], Preferred Provider Organization [PPO], Exclusive Provider Organization [EPO]), By Age-group (Minors, Adults, Senior Citizens), By Time Period (Life Insurance, Term Insurance), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, health insurance market is anticipated to garner notable returns by the year 2027.

According to credible estimates, rising GDP & healthcare expenditures around the world, growing geriatric population, increasing incidences of chronic diseases, and high medical costs are the major growth stimulants for health insurance market.

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Increasing emphasis on healthcare and well-being, as well as positive government measures to include coverage for COVID-19 treatment have boosted demand for preventive health insurance in the recent years, which is adding to industry value.

Based on service provider, the public segment is estimated to attain a valuation of USD 2413.5 billion by 2027. In terms of type terrain, critical illness insurance segment was worth USD 1101.9 billion in 2020 and is predicted to grow significantly over 2021-2027. On the basis of network provider, the exclusive provider organization (EPO) segment is anticipated to exceed a valuation of USD 1.5 trillion by 2027.

Spealing of age-group, the minor segment of worldwide health insurance industry held 23.9% revenue share in 2020 and is projected to witness notable growth through 2027. By time period, the life insurance segment is poised to record a CAGR of 4.7% over the analysis duration.

Regionally speaking, Latin America held 6.3% market share in 2020 and is touted to increase considerably by 2027. Whereas Middle East & Africa market size is slated to expand at 4% CAGR through 2027.

UnitedHealthcare Inc., ottonova Krankenversicherung AG, Kaiser Permanente, Jubilee Holdings Limited, Highmark Inc., Health Care Service Corporation, Cigna Corporation, Centene Corporation, Anthem Inc., and Aetna Inc. are the leading players in global health insurance industry.