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.Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Health insurance market in United States continues to experience significant growth and evolution.
Customer preferences: Customers in the United States are increasingly seeking health insurance plans that offer comprehensive coverage, flexibility in choosing healthcare providers, and digital services for easy access to information and claims processing.
Trends in the market: One prominent trend in the U. S. health insurance market is the rise of telemedicine services, driven by the increasing demand for convenient and cost-effective healthcare options. Additionally, there is a growing focus on value-based care models, where insurers and healthcare providers collaborate to improve patient outcomes while controlling costs. Another trend is the expansion of wellness programs and initiatives aimed at promoting preventive care and healthy lifestyles among policyholders.
Local special circumstances: The United States has a complex healthcare system with a mix of public and private insurance providers, leading to a highly competitive market environment. The presence of multiple regulatory bodies and varying state-level insurance regulations also contribute to the unique dynamics of the health insurance market in the country.
Underlying macroeconomic factors: Factors such as rising healthcare costs, an aging population, and increasing prevalence of chronic diseases are driving the demand for health insurance in the United States. Additionally, regulatory changes and healthcare reforms play a significant role in shaping the market landscape and influencing consumer behavior. The overall economic conditions and employment rates in the country also impact the affordability and accessibility of health insurance for individuals and families.
Most recent update: Sep 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights