UAE Health Insurance Market by Type (Individual and Group) by Service Provider (Public, Private): Industry Analysis, Trends, Growth and Forecast 2023-2028

UAE Health Insurance Market Overview:

The UAE health insurance market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. Looking forward, the market is projected to grow at a CAGR of around X% during 2023-2028, reaching a value of US$ XX Billion by 2028. Health insurance is a type of guaranteed policy that covers the cost of an individual's medical and surgical expenses. It is generally offered through employers, but individuals can also purchase health insurance plans on the open market. It also provides coverage for certain types of preventive care services, such as doctor consultation fees, hospitalization, ambulance charges, vaccinations, and screenings. Besides this, it also covers mental health services, alternative treatments, and long-term care services. It is specifically designed to help protect individuals and families from the financial burden of medical expenses. Its plans vary in terms of coverage, cost, and eligibility requirements, wherein coverage includes deductibles, co-payments, coinsurance, and out-of-pocket maximums. The cost depends on the type of plan chosen, the number of people covered, and the age of the insured while the payout is usually created on the diagnosis of diseases without submitting bills or actual expenses incurred in the hospital utilizing original medical bills. Moreover, it provides easy access to medical treatment with a cashless facility at the insurer's network hospitals.

The rising healthcare expenditure majorly drives the market in UAE. Coupled with the increasing prevalence of chronic diseases among the masses, including cancer, kidney failure, and diabetes, this is acting as a major driving factor. Along with this, several government agencies are offering health insurance for all its citizens and mandating employers to provide health insurance coverage to their employees, which is significantly supporting the market across the country. In line with this, the rising awareness regarding the importance of health insurance among individuals and the growing need to protect themselves from the financial risks of unforeseen medical expenses is propelling the market. Apart from this, continual changes in the structure of the health insurance market, such as the rise of managed care organizations, have made health insurance more accessible to more people, further catalyzing the demand. In addition, health insurance companies are offering customized plans to small business owners to meet these individuals' financial and health needs, thereby providing a thrust to the market. Furthermore, the widespread integration of health insurance services with big data analytics to diversify models and strategies is creating a positive market outlook.

Beginning with a regional overview, the report explores the dynamics that have a strong influence on the UAE health insurance market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. 

The report analyses the competitive structure of the UAE health insurance industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the UAE health insurance industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the UAE health insurance industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the UAE health insurance industry. Furthermore, the value chain analysis of the UAE health insurance industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution. 

UAE Health Insurance Market Segment Insights:

The UAE health insurance market has been analysed as followed:

By Type:

  • Individual
  • Group

By Service Provider:

  • Public 
  • Private

Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape

  • Competitive Structure
  • Key Player Profiles

Report Coverage:

  • Base Year Considered: 2021
  • Historical Data Coverage: 2016-2021
  • Market Forecast: 2022-2027
  • Currency: US$
  • Geography Covered: UAE
  • Segments Covered: Type and Service Provider

Competative Landscape: 

The competitive landscape of the industry has also been examined along with the profiles of the key players. 

Highlights of the UAE Health Insurance Market Report:

  • Historical and current scenario
  • Trends and developments
  • Impact of COVID-19
  • Market forecast
  • Price analysis and forecast
  • Porter’s five forces analysis
  • SWOT analysis
  • Value chain analysis

Report Customisation:

The UAE health insurance market report can be customised as per your requirements. You can get in touch with our analyst, who will make sure that the report suits your research needs

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