According to the latest report by IMARC Group, titled “UAE Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 6.6 Billion in 2020. 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 various treatment expenditures, including medicines, hospitalization, ambulance, doctor consultation, and daycare costs. It is generally offered by an employer, whereby premiums are partially paid by employees and the rest is covered by the company.
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The inflating costs of healthcare services, in confluence with the increasing prevalence of chronic diseases, are primarily driving 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 involved, which is also fueling the market growth. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026.
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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 considering 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 Highlights of the Market Segmentation:
Breakup by type:
Breakup by Service Provider:
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- 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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