Industry to reach $198.45 billion at a CAGR of 10.2%

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Indian Health Insurance Market

Indian Health Insurance Market

Indian Health Insurance Market

Dublin, July 06, 2022 (GLOBE NEWSWIRE) — “Health Insurance Market in India (2022-2027) by Plan Type, Duration, Application, Coverage, Type, Age Group, Competitive Analysis and Impact of Covid-19 with Ansoff analysis” report added to supply.

The health insurance market in India is valued at USD 122.11 billion in 2022 and is expected to reach USD 198.45 billion by 2027, growing at a CAGR of 10.2%.

Market segmentation

  • The health insurance market in India is segmented on the basis of plan type, duration, application, coverage, type and age group.

  • By plan type, the market is classified as medical insurance, critical illness insurance, family float health insurance, and others.

  • Duration, the market is classified into whole life cover and term insurance.

  • Application, the market is classified into direct sales, brokers and agents, bankers, and others.

  • In terms of coverage, the market is classified into preferred provider organizations, point of service, health maintenance organization and exclusive provider organization.

  • Type, the market is classified into group and individual.

  • Age group, the market is classified into senior citizens, adults and children.

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool for analyzing and evaluating companies’ position based on their Industry Position Score and Market Performance Score. The tool uses various factors to categorize players into four categories. Some of these factors considered for analysis are financial performance in the last 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc.

Ansoff analysis

The report presents a detailed Ansoff matrix analysis of the health insurance market in India. The Ansoff Matrix, also known as the Product/Market Expansion Grid, is a strategic tool used to design company growth strategies. The matrix can be used to evaluate approaches in four strategies viz. Market development, market penetration, product development and diversification. The matrix is ‚Äč‚Äčalso used for risk analysis to understand the risk associated with each approach.

Highlights of the report:

  • Complete market analysis including major industry

  • Important market dynamics and trends

  • Market segmentation

  • Historical, current and forecast market size based on value and volume

  • Market shares and strategies of key players

  • Recommendations for companies to strengthen their positions in the market

Main topics covered:

1 Description of the report

2 Research methodology

3 Summary

4 Market dynamics
4.1 Drivers
4.1.1 Increased health care costs
4.1.2 Increase in demand with the pandemic
4.1.3 Private organizations providing employer-sponsored health insurance plans
4.2 Limitations
4.2.1 Eligibility Rules
4.3 Opportunities
4.3.1 The Rise of Insurtech
4.3.2 Increased demand for quality private care
4.4 Challenges
4.4.1 Costs are exacerbated by an aging population
4.4.2 Certain health services and medical expenses are not covered

5 Market analysis
5.1 Regulatory scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff matrix analysis

6 Health Insurance Market in India, by Plan Type
6.1 Introduction
6.2 Medical Insurance
6.3 Critical Illness Insurance
6.4 Family Health Insurance
6.5 Others

7 Health Insurance Market in India by Duration
7.1 Introduction
7.2 Lifetime Coverage
7.3 Term of insurance

8 Health Insurance Market in India, by Application
8.1 Introduction
8.2 Direct Sales
8.3 Brokers and Agents
8.4 Bankers
8.5 Others

9 Health insurance market in India, by coverage
9.1 Introduction
9.2 Preferred Supplier Organizations
9.3 Point of Service
9.4 Health maintenance organization
9.5 Exclusive Provider Organization

10 Health Insurance Market in India, by Type
10.1 Introduction
10.2 Group
10.3 Individual

11 The health insurance market in India, by age group
11.1 Introduction
11.2 Senior Citizen
11.3 Adult
11.4 Children

12 Competitive landscape
12.1 Competition Quadrant
12.2 Market Share Analysis
12.3 Strategic Initiatives
12.3.1 Mergers and Acquisitions and Investments
12.3.2 Partnerships and Collaborations
12.3.3 Product Developments and Improvements

The mentioned companies

  • Aditya Birla Health Insurance Co. Ltd.

  • Bajaj Allianz General Insurance

  • Care Health insurance

  • Cholamandalam MS General Insurance Company Ltd

  • Edelweiss General Insurance Company

  • Go Digit General Insurance Limited

  • HDFC Ergo

  • ICICI Lombard General Insurance Company

  • Kotak Mahindra General Insurance Company Ltd

  • Life Insurance Corporation of India

  • Magma HDI General Insurance Company

  • Manipal Cigna Health Insurance Company

  • Max Life Insurance Company Limited

  • Navi General Insurance Limited

  • Niva Bupa Health Insurance Limited

  • Reliance General Insurance Company Limited

  • SBI General Insurance

  • Star Health and Allied Insurance Co Ltd

  • Tata AIG General Insurance Company Limited

  • The Oriental Insurance Company Ltd

For more information on this report, visit


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