Asia Pacific Health Insurance Market Overview
According to SPER Market Research, the Asia Pacific Health Insurance Market is estimated to reach USD 825.85 billion by 2032 with a CAGR of 4.34%.
A type of insurance called health insurance covers all kinds of surgical costs and medical care resulting from a disease or injury. It is applicable to a broad or narrow range of medical services that pay the entire or part-cost of particular treatments. As it pays for all medical costs incurred while the policyholder is receiving treatment in a hospital, it offers the policyholder financial support. Additionally, pre- and post-hospitalization costs are covered. A health insurance plan includes a variety of features and advantages. It offers policyholders financial protection against specific treatments. Benefits of health insurance policies include reimbursement, pre- and post-hospitalization coverage, cashless hospitalization, and a variety of add-ons.The market demand for health insurance is being driven by factors such as rising medical service expenses and an increase in daycare operations. Major corporations are broadening their product portfolios in various nations to improve their position for these products and solutions in the market as a result of the rising demand for health insurance on a worldwide scale.
Impact of COVID-19 on the Asia Pacific Health Insurance Market
The health insurance market has changed as a result of COVID-19; favorable developments have been seen practically everywhere, but during the past few years, the sector has faced certain difficulties. These changes have been made by the insurance companies so that they can continue providing their services to consumers without difficulty while adjusting to the new COVID-19 pandemic regulations. The insurers for the policyholders have incorporated COVID-19 specific health insurance policies into the standard health insurance plans. Due to the complete digitization of the process for purchasing and renewing health insurance policies using the insurer's official website, the Asia-Pacific health insurance market is expanding. As more people are becoming aware of the value of having a financial safety net in case of medical emergencies, the sale of health insurance policies has expanded significantly over the past few years. Health insurance has survived and adapted to meet the needs of clients around the world even when the economy has put a strain on other industries. To recover from COVID-19, the health insurance sector is taking a number of strategic actions. To enhance the health insurance policy, the participants are engaged in a variety of research and development initiatives. The businesses concentrate on increasing sales and offering insurance to the clients they choose. The government of many nations has also lowered the repo rates and bond interest rates, which may make it difficult to keep reserves in place and may also increase credit and liquidity problems, among other things, all of which are contributing significantly to the market's expansion.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Type, By Services, By Level of Coverage, By Service Providers, By Health Insurance Plans, By Demographics, By Coverage Type, By Distribution Channel, By End User
|
| Regions covered | Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, Rest of APAC
|
| Companies Covered | Aetna Inc., AIA Group Limited, Allianz Care, ASSICURAZIONI GENERALI S.P.A, Aviva, AXA, Bupa, Cigna, HBF Health Limited, HealthCare International Global Network Ltd., International Medical Group, Inc., MAPFRE, Now Health International, Oracle
|
Asia Pacific Health Insurance Market Segmentation:
1. By Type:
2. By Services:
- Inpatient Treatment
- Medical Assistance
- Outpatient Treatment
- Others
3. By Level of Coverage:
4. By Service Providers:
- Private Health Insurance Providers
- Public Health Insurance Providers
- 5. By Health Insurance Plans:
- Exclusive Provider Organization
- Health Maintenance Organization
- Health Savings Account
- Indemnity Health Insurance
6. By Demographics:
- Adults
- Minors
- Senior Citizens
7. By Coverage Type:
- Lifetime Coverage
- Term Coverage
8. By Distribution Channel:
- Clinics
- Direct Sales
- E-Commerce
- Financial Institutions
- Hospitals
- Others
9. By End User:
- Corporate
- Individuals
- Others
10. By Region:
- Australia
- China
- India
- Japan
- Malaysia
- New Zealand
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Key Topics Covered in the Report:
- Size of Asia Pacific Health Insurance Market (FY’2019-FY’2032)
- Overview of Asia Pacific Health Insurance Market
- Segmentation of Asia Pacific Health Insurance Market By Type (Product, Solutions)
- Segmentation of Asia Pacific Health Insurance Market By Services (Inpatient Treatment, Medical Assistance, Outpatient Treatment, Others)
- Segmentation of Asia Pacific Health Insurance Market By Level of Coverage (Bronze, Gold, Platinum, Silver)
- Segmentation of Asia Pacific Health Insurance Market By Service Providers (Private Health Insurance Providers, Public Health Insurance Providers)
- Segmentation of Asia Pacific Health Insurance Market By Health Insurance Plans (Exclusive Provider Organization, Health Maintenance Organization, Health Savings Account, Indemnity Health Insurance, Point of Service, Preferred Provider Organization, Qualified Small Employer Health Reimbursement Arrangement, Others)
- Segmentation of Asia Pacific Health Insurance Market By Demographics (Adults, Minors, Senior Citizens)
- Segmentation of Asia Pacific Health Insurance Market By Coverage Type (Lifetime Coverage, Term Coverage)
- Segmentation of Asia Pacific Health Insurance Market By Distribution Channel (Clinics, Direct Sales, E-Commerce, Financial Institutions, Hospitals, Others)
- Segmentation of Asia Pacific Health Insurance Market By End User (Corporate, Individuals, Others)
- Statistical Snap of Asia Pacific Health Insurance Market
- Growth Analysis of Asia Pacific Health Insurance Market
- Problems and Challenges in Asia Pacific Health Insurance Market
- Competitive Landscape in the Asia Pacific Health Insurance Market
- Impact of COVID-19 and Demonetization on Asia Pacific Health Insurance Market
- Details on Recent Investment in Asia Pacific Health Insurance Market
- Competitive Analysis of Asia Pacific Health Insurance Market
- Major Players in the Asia Pacific Health Insurance Market
- SWOT Analysis of Asia Pacific Health Insurance Market
- Asia Pacific Health Insurance Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Asia Pacific Health Insurance Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Asia Pacific Health Insurance Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Health Insurance Market
7. Asia Pacific Health Insurance Market, By Type, 2019-2032 (USD Million)
7.1 Product
7.2 Solutions
8. Asia Pacific Health Insurance Market, By Services, 2019-2032 (USD Million)
8.1 Inpatient Treatment
8.2 Medical Assistance
8.3 Outpatient Treatment
8.4 Others
9. Asia Pacific Health Insurance Market, By Level of Coverage, 2019-2032 (USD Million)
9.1 Bronze
9.2 Gold
9.3 Platinum
9.4 Silver
10. Asia Pacific Health Insurance Market, By Service Providers, 2019-2032 (USD Million)
10.1 Private Health Insurance Providers
10.2 Public Health Insurance Providers
11. Asia Pacific Health Insurance Market, By Health Insurance Plans, 2019-2032 (USD Million)
11.1 Exclusive Provider Organization
11.2 Health Maintenance Organization
11.3 Health Savings Account
11.4 Indemnity Health Insurance
11.5 Point of Service
11.6 Preferred Provider Organization
11.7 Qualified Small Employer Health Reimbursement Arrangement
11.8 Others
12. Asia Pacific Health Insurance Market, By Demographics, 2019-2032 (USD Million)
12.1 Adults
12.2 Minors
12.3 Senior Citizens
13. Asia Pacific Health Insurance Market, By Coverage Type, 2019-2032 (USD Million)
13.1 Lifetime Coverage
13.2 Term Coverage
14. Asia Pacific Health Insurance Market, By Distribution Channel, 2019-2032 (USD Million)
14.1 Clinics
14.2 Direct Sales
14.3 E-Commerce
14.4 Financial Institutions
14.5 Hospitals
14.6 Others
15. Asia Pacific Health Insurance Market, By End User, 2019-2032 (USD Million)
15.1 Corporate
15.2 Individuals
15.3 Others
16. Asia Pacific Health Insurance Market, By Region, 2019-2032 (USD Million)
16.1 Asia Pacific Health Insurance Size and Market Share by Region (2019-2025)
16.2 Asia Pacific Health Insurance Size and Market Share by Region (2026-2032)
16.3 Australia
16.4 China
16.5 India
16.6 Indonesia
16.7 Japan
16.8 Malaysia
16.9 New Zealand
16.10 Philippines
16.11 Singapore
16.12 South Korea
16.13 Taiwan
16.14 Thailand
16.15 Vietnam
16.16 Rest of APAC
17. Company Profiles
17.1 Aetna Inc.
17.1.1 Company details
17.1.2 Financial outlook
17.1.3 Product summary
17.1.4 Recent developments
17.2 AIA Group Limited
17.2.1 Company details
17.2.2 Financial outlook
17.2.3 Product summary
17.2.4 Recent developments
17.3 Allianz Care
17.3.1 Company details
17.3.2 Financial outlook
17.3.3 Product summary
17.3.4 Recent developments
17.4 ASSICURAZIONI GENERALI S.P.A
17.4.1 Company details
17.4.2 Financial outlook
17.4.3 Product summary
17.4.4 Recent developments
17.5 Aviva
17.5.1 Company details
17.5.2 Financial outlook
17.5.3 Product summary
17.5.4 Recent developments
17.6 AXA
17.6.1 Company details
17.6.2 Financial outlook
17.6.3 Product summary
17.6.4 Recent developments
17.7 Bupa
17.7.1 Company details
17.7.2 Financial outlook
17.7.3 Product summary
17.7.4 Recent developments
17.8 Cigna
17.8.1 Company details
17.8.2 Financial outlook
17.8.3 Product summary
17.8.4 Recent developments
17.9 HBF Health Limited
17.9.1 Company details
17.9.2 Financial outlook
17.9.3 Product summary
17.9.4 Recent developments
17.10 HealthCare International Global Network Ltd.
17.10.1 Company details
17.10.2 Financial outlook
17.10.3 Product summary
17.10.4 Recent developments
17.11 International Medical Group, Inc.
17.11.1 Company details
17.11.2 Financial outlook
17.11.3 Product summary
17.11.4 Recent developments
17.12 MAPFRE
17.12.1 Company details
17.12.2 Financial outlook
17.12.3 Product summary
17.12.4 Recent developments
17.13 Now Health International
17.13.1 Company details
17.13.2 Financial outlook
17.13.3 Product summary
17.13.4 Recent developments
17.14 Oracle
17.14.1 Company details
17.14.2 Financial outlook
17.14.3 Product summary
17.14.4 Recent developments
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
