According to the latest report by IMARC Group, titled “UAE Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, 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.
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Health insurance refers to a service that provides coverage for medical and surgical expenses incurred from an illness or injury. It offers multiple arrangements to the insurance holder, such as managed care plans, indemnity, and point-of-service (POS) plans. Health insurance covers treatment expenditures, including various medicines, hospitalization, ambulance, doctor consultation, daycare costs. It is generally offered by an employer, wherein premiums are partially paid by employees and the rest is covered by the company.
The inflating costs of healthcare services, in confluence with the increasing prevalence of chronic diseases, are leading the UAE health insurance market growth. The government is enforcing laws to provide compulsory health insurance to residents, which is acting as a major growth-inducing factor. This is further supported by the emergence of several private players that are providing additional healthcare benefits. Moreover, rapid technological advancements and digitization in healthcare processes, such as the adoption of cloud-based services and high-speed internet, have enabled transparent communication between parties, which is also fueling the market growth.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after consideration the impact of this pandemic.
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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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