Health insurance - Qatar | Statista Market Forecast

The Health insurance market market in Qatar is expected to witness significant growth in the coming years.
According to projections, the market size (gross written premium) is set to reach US$1.25bn in 2024.
Furthermore, the average spending per capita in the Health insurance market sector is estimated to be US$455.40 in the same year.
Looking ahead, the gross written premium is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 7.57%.
As a result, the market volume is projected to expand to US$1.79bn by 2029.
In a global context, it is worth noting that the United States is expected to generate the highest gross written premium in the Health insurance market market, reaching a staggering US$1.7tn in 2024.
This demonstrates the significant scale of the US market compared to other countries.
The demand for comprehensive health insurance coverage in Qatar is steadily increasing among the expatriate population.

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 recent years, the Health insurance market in Qatar has been experiencing significant growth and development.

Customer preferences: Customers in Qatar are increasingly seeking comprehensive health insurance coverage that includes a wide range of benefits such as access to premium healthcare facilities, coverage for pre-existing conditions, and options for international medical treatment. There is a growing demand for tailored insurance plans that cater to specific healthcare needs and preferences of individuals and families in the country.

Trends in the market: One of the key trends in the Health insurance market in Qatar is the rise of digital health insurance services. Insurers are investing in technology to offer online platforms for easy policy management, claims processing, and access to virtual healthcare services. This trend is driven by the growing tech-savvy population in Qatar who prefer convenient and efficient digital solutions for their insurance needs. Another notable trend is the increasing focus on preventive healthcare services in insurance plans. Insurers are partnering with healthcare providers to offer wellness programs, health screenings, and incentives for policyholders to adopt healthy lifestyle choices. This trend aligns with the global shift towards preventive care to reduce healthcare costs and improve overall population health.

Local special circumstances: In Qatar, the government plays a significant role in shaping the Health insurance market through regulations and initiatives to enhance healthcare access and quality. The introduction of mandatory health insurance for residents and the implementation of universal healthcare coverage for Qatari nationals have contributed to the growth of the insurance market in the country. Additionally, the presence of a young and affluent population with high disposable income levels has created a lucrative market for health insurance providers.

Underlying macroeconomic factors: The robust economic growth, increasing population, and rising healthcare expenditure in Qatar are key macroeconomic factors driving the expansion of the Health insurance market. As the country continues to invest in its healthcare infrastructure and services, the demand for health insurance is expected to grow further. Moreover, the changing demographic trends, such as an aging population and rising prevalence of chronic diseases, are creating opportunities for insurers to offer specialized insurance products to meet the evolving healthcare needs of the population.

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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