Health Insurance Market 2019 Global Analysis, Opportunities And Forecast To 2025
Category: #health  By Ashwin Naphade  Date: 2019-08-14
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Health Insurance Market 2019 Global Analysis, Opportunities And Forecast To 2025

Health Insurance Market size is set to exceed USD 1.5 trillion by 2025; according to a new research report by Global Market Insights. Rising healthcare expenditures will augment the health insurance market growth in coming years. People suffering from cancer and other chronic conditions may require surgical procedures that adds up to healthcare expenses. For instance, according to American Cancer Society, as of 2018 new cases of cancer diagnosed were around 1.6 million in the U.S. alone. Increasing prevalence of chronic diseases coupled with rising healthcare expenditure is expected to boost industry growth. Moreover, patients that cannot afford surgical procedures and advanced treatment options opt for health insurance plans. Above-mentioned aspects surge the demand for health insurance policies.

Request for a sample of this research report @  https://www.gminsights.com/request-sample/detail/3146

Health Insurance Market Size was valued at USD 1.4 trillion in 2018 and is expected to witness 4.2% CAGR from 2019 to 2025. The rising prevalence of lifestyle diseases and increasing cost of hospitalization has propelled health insurance market share, given that insurance makes it possible for consumers to afford quality treatment when needed. According to U.S. National Health Council, chronic diseases like cancer, diabetes, asthma and heart disease affect approximately 133 million Americans each year and by 2020, this number is projected to reach 157 million. Widespread occurrence of chronic diseases will give rise to healthcare expenditure which is anticipated to foster the health insurance industry growth.

Seemingly, prominent studies reveal that U.S. spends around 14% of its GDP on the healthcare sector but unfortunately large number of Americans have no health insurance and are required to either pay from their pockets or go without treatment. Statistics show that in 2012, there were about 45.6 million people in the U.S. who were without health insurance. It is one of the major concerns raised by advocates of healthcare reform.

The growing interest in providing affordable quality healthcare is one of the prime forces driving the swift expansion of Health Maintenance Organizations (HMO). This well-organized system provides a comprehensive set of healthcare services and gives foremost priority to consumer’s health as well as assures them that services will be available whenever needed, resulting in improvements in societal health.

Browse Report Summary @ https://www.gminsights.com/industry-analysis/health-insurance-market

Elaborating further, the region, along with Canada, has been experiencing an increase in healthcare awareness and the significance of medical care insurance. The presence of a supportive regulatory spectrum for insurance companies in the U.S. in tandem with the increase in chronic disease occurrence rate will drive North America health insurance market, that help over 33% of the global revenue share in 2018.

More insightful [email protected] https://www.marketwatch.com/press-release/health-insurance-market-2025-evolution-boosting-the-growth-worldwide-2019-07-17

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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