Market Insights Financial Insurances Non-life insurances

Health insurance - Tunisia

Tunisia

The Health insurance market market in Tunisia is projected to reach a market size (gross written premium) of US$85.24m in 2024.
The average spending per capita in the Health insurance market market is estimated to be US$6.78 in 2024.
It is expected that the gross written premium will experience an annual growth rate (CAGR 2024-2028) of 0.75%, resulting in a market volume of US$87.83m by 2028.
In global comparison, the United States is expected to generate the highest gross written premium in the Health insurance market market, amounting to US$1,607.0bn in 2024.
Tunisia's health insurance market is experiencing a surge in demand due to the rising cost of healthcare services.

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Analyst Opinion

The Health insurance market in Tunisia is experiencing significant growth and development in recent years.

Customer preferences: Tunisian customers are increasingly seeking comprehensive health insurance coverage that includes a wide range of medical services. There is a growing demand for customizable insurance plans that cater to individual needs and preferences. Customers also value insurance providers that offer efficient claims processing and excellent customer service.

Trends in the market: One of the key trends in the Tunisian health insurance market is the increasing penetration of private health insurance. As the government works towards improving the overall healthcare system, more individuals and businesses are turning to private health insurance to supplement their healthcare needs. Additionally, there is a trend towards digitalization in the health insurance sector, with more insurers offering online services and digital platforms for easy access to information and services.

Local special circumstances: In Tunisia, the health insurance market is influenced by the country's demographic trends, including an aging population and a rising middle class with higher disposable income. These factors contribute to the growing demand for health insurance products and services. Moreover, the government's efforts to enhance healthcare infrastructure and services are also driving the development of the health insurance market in the country.

Underlying macroeconomic factors: The overall economic stability and growth in Tunisia play a significant role in the expansion of the health insurance market. As the economy continues to develop, more individuals and businesses are able to afford health insurance coverage, leading to an increase in market size and competition among insurance providers. Additionally, regulatory reforms and initiatives to promote the health insurance sector contribute to the overall positive outlook for the market.

Methodology

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.