New York, June 03, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Health Insurance Market, By Type of Insurance Provider, By Type of Coverage, By Term of Coverage, By Mode of Purchase, By End Users, By Country, Forecast & Opportunities, 2026” – https://www.reportlinker.com/p06089428/?utm_source=GNW
Europe health insurance market was valued USD272.78 Billion in 2020 and is forecast to grow at CAGR of 6.07% in the next five years. Health care coverage is a sort of protection that pays for medical costs incurred by the policyholders in a condition of a medical emergency. It offers fast reimbursement for individuals that are afflicted with illnesses for a low premium. The market is driven by the growing awareness pertaining to modern healthcare facilities among the population. Additionally, Europe comprises of a highly regulated healthcare infrastructure wherein many public and private health insurance companies are well established and compete with each other. Also, the European government provides subsidies to the citizens who cannot afford health insurance policies. Health insurance coverage for the most part requires the covered policyholder to bear a portion of risk by covering initial medical expenses up to a settled amount before the health care coverage is obligated for installment. The extent of coverage varies depending on the policy’s terms, which are influenced by age, illness, government policies, and other factors. Moreover, the government has taken various initiatives to provide health insurance facilities to people.
Europe’s health insurance market is expected to witness significant growth, owing to the poor lifestyle habits of people, a rise in the number of people suffering from chronic diseases, an increasing number of road accidents, and a rise in health expenses such as high prescription costs, etc.Improving GDP of many countries has prompted the growth of the health insurance market in Europe.
The rising cost of quality healthcare and medical services, especially in private hospitals, has resulted in increased demand for health insurance.Hospital treatment costs are enough to deplete a person’s savings if one does not have insurance.
This makes health insurance plan a necessity.In many countries, the government has made health insurance mandatory for public and private workers.
Furthermore, with the sudden outbreak of COVID-19 pandemic across the globe, the countries like Italy and Spain have been badly affected and the health insurance providers have now started providing the coverage for novel coronavirus disease also, thereby propelling the market growth.
The Europe health insurance market is segmented based on the type of insurance provider, type of coverage, term of coverage, mode of purchase, end users, company and region.Based on the type of insurance provider, the Europe health insurance market is divided into public, private, and standalone health providers.
Among these, the public segment is expected to dominate the market since they provide a prompt referral to a consultant, advanced treatment option, and quick & flexible treatment time.Moreover, the European government has also taken steps to offer different forms of health care for the citizens, due to which a significant portion of the European population prefers public health insurance providers.
Based on the term of coverage, the market can be divided into term and lifetime. Here, the lifetime segment is expected to dominate the market in the forecast period since most of the health insurance providers offer lifetime coverage in their health insurance plans.
Some of the leading players in the Europe Health Insurance market are Allgemeine Ortskrankenkasse, Techniker Krankenkasse, Allianz Group, Axa S.A., Zurich Insurance Group, among others. The companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
Historical Years: 2016-2020
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
• To analyze historical growth in the market size of the Europe health insurance market from 2016 to 2020.
• To estimate and forecast the market size of the Europe health insurance market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the Europe health insurance market based on type of insurance provider, type of coverage, term of coverage, mode of purchase and end users.
• To identify dominant countries or segment in the Europe health insurance market.
• To identify drivers and challenges for the Europe health insurance market.
• To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Europe health insurance market.
• To identify and analyze the profile of leading players operating in the Europe health insurance market.
• To identify key sustainable strategies adopted by market players in the Europe health insurance market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers and presence of all major players across the globe.
The analyst calculated the market size of Europe health insurance market using a bottom-up approach, wherein data for various end-users’ segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Health insurance service providers and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to health insurance
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the Europe health insurance market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Europe Health Insurance Market, By Type of Insurance Provider:
o Standalone Health Insurers
• Europe Health Insurance Market, By Type of Coverage:
• Europe Health Insurance Market, By Mode of Purchase:
o Insurance Agents
o Direct Company Representatives
o Online portals
• Europe Health Insurance Market, By End Users:
o Senior Citizens
• Europe Health Insurance Market, By Country:
o United Kingdom
Company Profiles: Detailed analysis of major companies present in the Europe health insurance market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06089428/?utm_source=GNW
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