The IMARC Group provides extensive analysis of the keyword industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
UAE Health Insurance Market Overview:
The UAE health insurance market reached a value of US$ 7.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.1 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027. Health insurance refers to a risk management service that offers financial aid for surgical as well as medical expenses incurred from an illness or injury. It is generally provided by an employer, wherein premiums are partially paid by employees, and the rest is covered by the company. Expenditures, such as doctor consultation, ambulance, medicine, hospitalization, daycare costs, etc., are funded by health insurance companies in advance or indirectly via reimbursement, depending upon pre-decided terms and conditions. In line with this, they offer arrangements to the insurance holders, including indemnity, point-of-service (POS) plans, managed care, etc. As such, some of the common types of health insurance available in the market are family, senior citizen, individual, group, top-up, critical illness, etc.
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UAE Health Insurance Market Trends:
The growing prevalence of stroke, kidney failure, diabetes, cancer, etc., is primarily driving the UAE health insurance market. Moreover, the implementation of various stringent regulations by government bodies in this country to provide compulsory health insurance to the citizens is further stimulating the market growth. Besides this, several companies are offering cover for medical expenses incurred, on account of the sudden outbreak of the COVID-19 pandemic, which is also propelling the demand for health insurance in UAE. Additionally, numerous technological advancements, including the introduction of cloud-based services and big data analytics, that enable transparent communication between involved parties are anticipated to fuel the UAE health insurance market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape With Key Players:
The competitive landscape of the UAE health insurance market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the UAE health insurance market on the basis of type and service provider.
Breakup by Type:
On the basis of the type, the market has been segmented into individual and group insurance. Currently, individual health insurance represents the leading segment.
Breakup by Service Provider:
The market has been analyzed on the basis of the service provider which mainly includes public and private. At present, private health insurance providers exhibit a clear dominance in the market, representing the largest segment.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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