Health Insurance Market 2019 Share, Trend, Segmentation and Forecast to 2025
Category: #health  By Partha Ray  Date: 2019-08-09
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Health Insurance Market 2019 Share, Trend, Segmentation and Forecast to 2025

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.

 

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Aetna
2. Alliance
3. Blue Cross Blue Shield Companies
4. Cigna Corporation
5. HCSC
6. Highmark
7. Humana
8. Kaiser Permanente
9. Wellcare
10. United Healthcare

In 2018, the HMO segment had become one of the prominent gainers within the health insurance market despite the rigid regulations and is expected to continue with this performance in the years ahead as well, with affordable medical cost management, better claims handling, sound balance sheets and expansion through mergers and acquisitions. Subsequently, the segment is striving to gain a bigger market share and offer more innovative ways to avail treatments for the customers globally.

Recently, Kaiser Permanente’s HMO plan in Washington was rated number one in the state and also received a top ranking for helping people who were suffering from acute conditions, along with aiding people who were suffering from chronic diseases. According to 2018 eValue8 survey, Kaiser Permanente Washington comprises of the most successful programs in the country, from effective health plans for its HMO members to control acute and chronic conditions.

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

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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