Health insurance - Denmark | Statista Market Forecast

The Health insurance market market in Denmark is projected to reach a market size (gross written premium) of DKK US$991.80m by 2024.
The average spending per capita in the Health insurance market market is expected to amount to DKK US$167.00 in 2024.
With an annual growth rate (CAGR 2024-2029) of 6.07%, the gross written premium is projected to result in a market volume of DKK US$1.33bn by 2029.
In global comparison, the United States is expected to generate the highest gross written premium of US$1.7tn in 2024.
The Danish health insurance market is characterized by a strong emphasis on preventative care and a high level of public trust in the healthcare system.

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.

Voluntary health insurance contributions

Compulsory health insurance contributions
Government schemes
Out-of-pocket payments
Reinsurance

In Denmark, the Health insurance market is experiencing significant growth and evolution.

Customer preferences: Danish consumers are increasingly seeking comprehensive health insurance coverage that includes a wide range of services, from basic medical consultations to specialized treatments. There is a growing demand for customizable insurance plans that cater to individual needs and preferences, reflecting a trend towards personalized healthcare solutions.

Trends in the market: One notable trend in the Danish Health insurance market is the rise of digital health insurance platforms that offer convenient access to services and information. These platforms are reshaping the way insurance is purchased, managed, and utilized, providing customers with greater transparency and control over their healthcare options. Additionally, there is a growing emphasis on preventive care and wellness programs within health insurance offerings, aligning with the overall shift towards proactive healthcare management.

Local special circumstances: Denmark's universal healthcare system, which provides free access to essential medical services for all residents, influences the dynamics of the health insurance market. As a result, private health insurance in Denmark often serves as a supplement to the public system, offering additional benefits and faster access to certain treatments. This unique dual healthcare model creates opportunities for insurers to differentiate their offerings and target specific consumer needs.

Underlying macroeconomic factors: The increasing disposable income levels in Denmark are enabling more individuals to afford private health insurance, driving market growth. Moreover, the aging population and rising healthcare costs are prompting individuals to seek additional coverage beyond what the public system provides. These factors, combined with a strong focus on innovation and digitalization in the healthcare sector, are contributing to the dynamic landscape of the Health insurance market in Denmark.

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.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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