Health insurance - Switzerland | Statista Market Forecast

The Health insurance market market in Switzerland is expected to witness significant growth in the coming years.
According to projections, the market size, measured by gross written premium, is set to reach US$13.80bn by 2024.
This demonstrates a positive trend in the country's healthcare sector.
In terms of individual spending, the average expenditure per capita in the Health insurance market market is estimated to be US$1.56k in 2024.
This indicates the importance placed on healthcare coverage by the Swiss population.
Furthermore, the market is anticipated to experience a steady annual growth rate of 2.61% between 2024 and 2029, as measured by the gross written premium.
This growth trajectory is expected to result in a market volume of US$15.69bn by 2029.
These figures illustrate the robust nature of the Health insurance market segment within the Swiss market.
When compared globally, it is worth noting that the United States is projected to generate the highest gross written premium, amounting to US$1.7tn in 2024.
This highlights the significant scale of the American Health insurance market, which surpasses that of Switzerland and many other countries.
Switzerland's health insurance market is characterized by a strong emphasis on quality healthcare and comprehensive coverage.

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

The Health insurance market in Switzerland is characterized by a unique blend of customer preferences, market trends, and local special circumstances.

Customer preferences: Swiss consumers highly value choice and flexibility when it comes to health insurance. They prefer plans that offer a wide range of coverage options, including access to private hospitals and specialist care. Additionally, there is a growing demand for complementary therapies and wellness benefits in health insurance packages.

Trends in the market: One prominent trend in the Swiss health insurance market is the increasing popularity of digital health solutions. Insurers are investing in telemedicine services, health tracking apps, and online platforms to enhance customer experience and improve healthcare outcomes. Another significant trend is the rise of value-based care models, where insurers and healthcare providers collaborate to deliver more cost-effective and efficient services.

Local special circumstances: Switzerland operates a unique healthcare system based on mandatory health insurance for all residents. This system promotes competition among insurers and allows for a high degree of consumer choice. Moreover, the country's strong tradition of healthcare excellence and innovation drives the demand for high-quality insurance products.

Underlying macroeconomic factors: The stability of the Swiss economy, coupled with a high standard of living, contributes to the growth of the health insurance market. As disposable incomes rise, consumers are willing to invest in comprehensive health coverage to safeguard their well-being. Additionally, the aging population and increasing prevalence of chronic diseases are driving the need for innovative insurance solutions tailored to these demographic shifts.

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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