The Health insurance market in Ireland has been experiencing significant growth and development in recent years. Customer preferences in the Irish health insurance market have been shifting towards more comprehensive coverage options that offer a wide range of benefits and services. Customers are increasingly looking for tailored insurance plans that cater to their specific needs, such as coverage for specialist consultations, alternative therapies, and wellness programs. Trends in the market indicate a rise in the popularity of digital health insurance platforms that provide easy access to information, online claims processing, and virtual consultations with healthcare providers. This trend aligns with global advancements in technology and the increasing demand for convenient and efficient healthcare services. Local special circumstances in Ireland, such as a growing aging population and rising healthcare costs, have contributed to the expansion of the health insurance market. With an increasing focus on preventive care and wellness initiatives, insurance providers are adapting their offerings to meet the evolving needs of the population. Underlying macroeconomic factors, including regulatory changes and government initiatives to improve healthcare access and affordability, have also played a role in shaping the health insurance market in Ireland. The implementation of policies aimed at increasing competition among insurance providers and enhancing consumer protection has led to a more dynamic and competitive market landscape. Additionally, economic growth and rising disposable incomes have allowed more individuals to afford health insurance coverage, driving further market growth.
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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