Definition:
Health insurance is a financial arrangement in which individuals or groups pay regular premiums to a provider, typically an insurance company. In exchange for these premiums, the insurer offers coverage and financial assistance for various healthcare-related costs, including but not limited to medical consultations, hospitalization, prescription medications, and other medical services. According to our current definition, the health insurance market includes voluntary health insurances.Additional information:
The market contains the following KPIs: gross written premium aggregated for all countries and regions, gross written premium per capita, and the share of insureds in the total population for over 50 countries.Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Health insurance market in Austria has been experiencing significant growth and development in recent years. Customer preferences in the Austrian health insurance market are shifting towards more comprehensive coverage options that include a wide range of medical services and benefits. Customers are increasingly looking for personalized and flexible insurance plans that cater to their individual healthcare needs. This trend is in line with global market preferences, where consumers are seeking greater value and convenience from their health insurance policies. Trends in the Austrian health insurance market indicate a rise in digitalization and technology adoption by insurance providers. Insurtech companies are introducing innovative solutions such as telemedicine services, digital claims processing, and health tracking apps to enhance customer experience and streamline operations. This trend reflects a broader global movement towards leveraging technology to improve efficiency and accessibility in the healthcare industry. Local special circumstances in Austria, such as the country's robust healthcare system and high standards of medical care, contribute to the growth of the health insurance market. With a strong emphasis on preventive care and wellness programs, Austrians are increasingly recognizing the importance of having health insurance coverage to access quality healthcare services. The presence of a well-established private health insurance sector alongside the public system also provides consumers with a diverse range of options to choose from. Underlying macroeconomic factors, including rising healthcare costs, an aging population, and changing regulatory environments, are driving the evolution of the health insurance market in Austria. As healthcare expenditures continue to increase, individuals are seeking insurance solutions to protect themselves from financial burdens associated with medical treatment. Moreover, demographic shifts and regulatory changes are shaping the competitive landscape of the market, prompting insurers to adapt their offerings to meet evolving consumer needs and preferences.
Most recent update: Sep 2024
Source: Statista Market Insights
Data coverage:
Data encompasses B2B and B2C enterprises. Figures are based on gross written premium, gross written premium per capita, gross claim payments, loss ratio, and distribution channels.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market layer. As a basis for evaluating markets, we use industry associations, national statistic offices, and international organizations, such as OECD. Next we use relevant key market indicators and data from country-specific associations such as insurance consumer spending, gross domestic product, insurance - consumer price index (CPI), population growth. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing and HOLT-linear. The main drivers are insurance consumer spending and insurance - consumer price index (CPI).Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights