The Health insurance market in Central & Western Europe is experiencing significant growth and development driven by various factors.
Customer preferences: Customers in Central & Western Europe are increasingly seeking comprehensive health insurance coverage that includes a wide range of services such as preventive care, specialist consultations, and alternative therapies. There is a growing demand for customizable insurance plans that cater to individual needs and preferences. Additionally, there is a trend towards digitalization in the health insurance sector, with customers showing a preference for online platforms that offer convenience and accessibility.
Trends in the market: In countries like Germany and France, there is a noticeable trend towards the privatization of health insurance, with more individuals opting for private health insurance plans over public alternatives. This shift is driven by the desire for greater flexibility, faster access to healthcare services, and higher quality of care. Moreover, the increasing prevalence of chronic diseases and aging populations in countries like Italy and Spain is leading to a rise in the demand for health insurance coverage that specifically addresses these healthcare needs.
Local special circumstances: In countries such as Switzerland and the Netherlands, where the healthcare system is characterized by a combination of public and private insurance schemes, there is a unique dynamic in the health insurance market. Customers in these countries often have the option to choose between different insurance providers and coverage levels, leading to a competitive market environment. Additionally, regulatory frameworks and government policies play a significant role in shaping the health insurance landscape in Central & Western Europe, influencing factors such as pricing, coverage options, and market entry barriers for insurance companies.
Underlying macroeconomic factors: The overall economic stability and prosperity in Central & Western Europe contribute to the growth of the health insurance market. As disposable incomes rise and living standards improve, more individuals and families are able to afford health insurance coverage, driving market expansion. Furthermore, advancements in medical technology and healthcare services in countries like Belgium and Austria are increasing the overall cost of healthcare, prompting individuals to seek insurance coverage to mitigate potential financial risks associated with medical expenses.
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.
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