Health Insurance Market Size and Outlook 2030

Report Description

Forecast Period	2026-2030
Market Size (2024)	USD 1976.21 Billion
CAGR (2025-2030)	5.20%
Fastest Growing Segment	Lifetime
Largest Market	North America
Market Size (2030)	USD 2678.72 Billion

Market Overview

The Global Health Insurance Market, valued at USD 1976.21 Billion in 2024, is projected to experience a CAGR of 5.20% to reach USD 2678.72 Billion by 2030. Health insurance constitutes a contractual agreement wherein an insurer provides financial protection for medical and surgical expenses incurred by the insured, covering specific healthcare services and treatments in exchange for regular premium payments. The global market's expansion is fundamentally supported by the escalating worldwide healthcare costs, an increasing aging demographic necessitating greater medical care, and enhanced public awareness regarding the importance of health coverage. Additionally, governmental efforts to promote broader insurance accessibility also fuel market development. According to the International Federation of Health Plans, in 2024, its member organizations collectively served over 250 million insured individuals worldwide.

Nevertheless, a considerable impediment to sustained market growth is the continuous rise in healthcare expenditures, which directly contributes to elevated insurance premiums. This upward trend in premium costs poses a challenge to the affordability of health insurance for various population segments, potentially restricting market penetration and overall expansion.

Key Market Drivers

The relentless upward trajectory of healthcare expenditures globally exerts significant pressure on both individuals and national economies, directly fueling demand for health insurance solutions. As medical treatments become more advanced and accessible, the associated costs for diagnostic procedures, pharmaceuticals, and specialized care escalate. This financial burden necessitates the transfer of risk to insurance providers, as individuals seek protection against unforeseen and substantial medical bills. For example, according to the World Health Organization's Global Health Expenditure Database, domestic public spending on health in 2022 remained 6%–7% above prepandemic levels in most income groups, illustrating the sustained elevation of healthcare costs. This ongoing increase in expenses makes health insurance an indispensable tool for financial planning and security, driving higher adoption rates across various demographics and economic strata.

Concurrently, the increasing prevalence of chronic and infectious diseases globally represents another pivotal force expanding the health insurance market. Conditions such as diabetes, cardiovascular ailments, and various communicable diseases demand prolonged medical attention, frequent hospitalizations, and continuous medication, all contributing to substantial healthcare expenses. The need for sustained care for these conditions highlights the value of comprehensive health coverage. For instance, according to the IDF Diabetes Atlas, diabetes was responsible for 3.4 million deaths in 2024, illustrating the severe impact and extensive healthcare requirements associated with chronic illnesses. Globally, according to the World Health Organization's 2024 Global Spending on Health report, overall estimated health expenditures worldwide stood at $9.8 trillion in 2022, underscoring the critical role of health insurance in managing the vast financial landscape of global health.

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Key Market Challenges

The continuous rise in healthcare expenditures presents a significant impediment to the sustained growth of the Global Health Insurance Market. This upward trend directly contributes to elevated insurance premiums, which subsequently challenges the affordability of health coverage for various population segments. When premium costs increase, both individuals and employers face greater financial burdens, potentially leading to decisions to scale back on coverage or defer purchasing new policies.

The impact of these escalating costs is substantial, directly restricting market penetration and overall expansion. For instance, according to the International Federation of Health Plans' 2024 International Healthcare Cost Comparison Report, the median cost of a coronary bypass surgery in the United States was $89,094, a figure notably higher than in other developed countries. Such high underlying medical costs compel insurers to price their products accordingly, making comprehensive health insurance less accessible to a wider demographic and thereby constraining the market's ability to grow.

Key Market Trends

Here are two significant and distinct trends driving growth in the Global Health Insurance Market.

The increased integration of digital health and telemedicine platforms profoundly influences the global health insurance market, enhancing accessibility and operational efficiency. These platforms enable insurers to offer convenient, immediate care options, reducing costly in-person consultations and streamlining claims processes. According to the International Foundation of Employee Benefit Plans, in August 2023, 12% of employers cited telemedicine and price transparency tools as key purchasing and provider initiatives to manage healthcare costs, underscoring the growing strategic importance of digital solutions within the industry. Furthermore, Cigna Healthcare, in its June 2025 announcement, unveiled new AI-powered digital tools designed to provide a more streamlined and reliable customer experience, demonstrating a clear industry shift toward embedding advanced digital capabilities into core service offerings. This evolution optimizes cost management and elevates customer satisfaction through accessible virtual tools.

The growing emphasis on preventive care and wellness programs is reshaping the global health insurance market, shifting focus from reactive treatment to proactive health management. Insurers increasingly invest in initiatives promoting healthy lifestyles and early detection, recognizing these strategies reduce long-term healthcare costs and improve member outcomes. According to the International Foundation of Employee Benefit Plans, in August 2023, 13% of employers listed work and wellness programs as a standalone strategy for managing healthcare expenses, reflecting a concerted effort towards preventive measures. Cigna's 2024 Corporate Impact Report, released in June 2025, detailed that their overall rate for preventive health screenings was approximately 52% in 2024, indicating a measurable focus on proactive health management within their insured population. Fostering healthier behaviors mitigates future medical expenses for insurers and offers tangible policyholder benefits.

Segmental Insights

The Global Health Insurance Market observes Lifetime coverage as a dominant segment, currently experiencing significant growth fueled by evolving consumer demands for enduring financial security in healthcare. This segment's rising popularity stems from its provision of uninterrupted access to medical benefits throughout an individual's life, eliminating the need for periodic renewals and offering continuous protection. Furthermore, the appeal of Lifetime coverage is substantially enhanced by associated tax benefits and the increasing prevalence of chronic illnesses and an aging global population, which drive a strong consumer preference for long-term health stability and comprehensive protection against escalating healthcare costs. This robust demand for sustained healthcare security underpins the segment's expansion within the professional market landscape.

Regional Insights

North America emerges as the leading region in the global health insurance market due to several distinct factors. The region benefits from a well-established system of employer-provided health coverage, alongside significant government-sponsored programs such as Medicare and Medicaid in the United States, which collectively expand insurance accessibility to a broad population, including senior citizens. High healthcare expenditure, driven by an emphasis on medical innovation and the availability of advanced treatments, fundamentally necessitates comprehensive insurance protection. Furthermore, increased public awareness regarding health insurance benefits, coupled with the growing prevalence of chronic diseases and an aging demographic, consistently fuels demand for robust financial safeguards against rising medical costs within the region.

Recent Developments

In February 2025, Qantev, a prominent AI-driven claims management platform for health and life insurance, formed a partnership with INSTANDA, a leading no-code policy administration platform. This collaboration aimed to revolutionize the global insurance market by enabling insurers to launch new products quickly and automate claims processes. The integration of advanced AI with flexible policy administration technology provided an end-to-end solution designed to enhance operational efficiency and improve customer satisfaction for health and life insurers worldwide, marking a significant step in digital transformation within the sector.

In early 2025, Cigna Healthcare announced a strategic partnership with Progyny, a prominent fertility solutions provider. This collaboration enabled employers to offer expanded fertility coverage as part of their health insurance benefits. The new offering included access to Progyny's extensive clinic network, pre-conception coaching, and personalized support, alongside services related to surrogacy and adoption. This initiative by Cigna Healthcare highlighted a growing trend in the global health insurance market to provide more comprehensive and specialized coverage options, responding to evolving employee benefit demands and family planning needs.

In December 2024, Engage Health Group introduced Xcelerate, a new international health insurance policy specifically designed for businesses experiencing rapid growth. This product launch addressed the evolving needs of companies with globally dispersed workforces, including remote employees and new international offices. The policy innovation aimed to streamline health coverage across multiple countries under a single scheme, offering a comprehensive solution for international private medical insurance (IPMI). This initiative positioned Engage Health Group to cater to the increasing demand for flexible and extensive health benefits in the global health insurance market.

In Q1 2025, AXA Health significantly expanded its telemedicine offerings through a series of strategic partnerships. These collaborations were instrumental in enhancing virtual care accessibility for policyholders, leading to a reported 25% increase in customer retention during the first quarter. The expansion reinforced the company’s commitment to integrating digital health solutions within the global health insurance landscape. By strengthening its telemedicine capabilities, AXA Health aimed to provide more convenient and accessible healthcare services, addressing the growing consumer preference for remote medical consultations and digital health platforms.

Key Market Players

Now Health International (Investments) Limited
The Cigna Group
Aetna Inc.
AXA - Global Healthcare
HBF Health Limited
Centene Corporation
International Medical Group, Inc.
Elevance Health, Inc.
Broadstone Corporate Benefits Limited
Allianz Care

By Insurance Provider	By Type of Coverage	By Term of Coverage	By Mode of Purchase	By End Users	By Region
Public Private Standalone Health Insurers	Individual Family	Term Lifetime	Direct Company Representatives Online Portal Insurance Agent	Minors Adults Senior Citizens	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Health Insurance Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Health Insurance Market, By Insurance Provider:

o Public

o Private

o Standalone Health Insurers

Health Insurance Market, By Type of Coverage:

o Individual

o Family

Health Insurance Market, By Term of Coverage:

o Term

o Lifetime

Health Insurance Market, By Mode of Purchase:

o Direct Company Representatives

o Online Portal

o Insurance Agent

Health Insurance Market, By End Users:

o Minors

o Adults

o Senior Citizens

Health Insurance Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Health Insurance Market.

Available Customizations:

Global Health Insurance Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Health Insurance Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Health Insurance Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Insurance Provider (Public, Private, Standalone Health Insurers)

5.2.2. By Type of Coverage (Individual, Family)

5.2.3. By Term of Coverage (Term, Lifetime)

5.2.4. By Mode of Purchase (Direct Company Representatives, Online Portal, Insurance Agent)

5.2.5. By End Users (Minors, Adults, Senior Citizens)

5.2.6. By Region

5.2.7. By Company (2024)

5.3. Market Map

6. North America Health Insurance Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Insurance Provider

6.2.2. By Type of Coverage

6.2.3. By Term of Coverage

6.2.4. By Mode of Purchase

6.2.5. By End Users

6.2.6. By Country

6.3. North America: Country Analysis

6.3.1. United States Health Insurance Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Insurance Provider

6.3.1.2.2. By Type of Coverage

6.3.1.2.3. By Term of Coverage

6.3.1.2.4. By Mode of Purchase

6.3.1.2.5. By End Users

6.3.2. Canada Health Insurance Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Insurance Provider

6.3.2.2.2. By Type of Coverage

6.3.2.2.3. By Term of Coverage

6.3.2.2.4. By Mode of Purchase

6.3.2.2.5. By End Users

6.3.3. Mexico Health Insurance Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Insurance Provider

6.3.3.2.2. By Type of Coverage

6.3.3.2.3. By Term of Coverage

6.3.3.2.4. By Mode of Purchase

6.3.3.2.5. By End Users

7. Europe Health Insurance Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Insurance Provider

7.2.2. By Type of Coverage

7.2.3. By Term of Coverage

7.2.4. By Mode of Purchase

7.2.5. By End Users

7.2.6. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Health Insurance Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Insurance Provider

7.3.1.2.2. By Type of Coverage

7.3.1.2.3. By Term of Coverage

7.3.1.2.4. By Mode of Purchase

7.3.1.2.5. By End Users

7.3.2. France Health Insurance Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Insurance Provider

7.3.2.2.2. By Type of Coverage

7.3.2.2.3. By Term of Coverage

7.3.2.2.4. By Mode of Purchase

7.3.2.2.5. By End Users

7.3.3. United Kingdom Health Insurance Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Insurance Provider

7.3.3.2.2. By Type of Coverage

7.3.3.2.3. By Term of Coverage

7.3.3.2.4. By Mode of Purchase

7.3.3.2.5. By End Users

7.3.4. Italy Health Insurance Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Insurance Provider

7.3.4.2.2. By Type of Coverage

7.3.4.2.3. By Term of Coverage

7.3.4.2.4. By Mode of Purchase

7.3.4.2.5. By End Users

7.3.5. Spain Health Insurance Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Insurance Provider

7.3.5.2.2. By Type of Coverage

7.3.5.2.3. By Term of Coverage

7.3.5.2.4. By Mode of Purchase

7.3.5.2.5. By End Users

8. Asia Pacific Health Insurance Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Insurance Provider

8.2.2. By Type of Coverage

8.2.3. By Term of Coverage

8.2.4. By Mode of Purchase

8.2.5. By End Users

8.2.6. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Health Insurance Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Insurance Provider

8.3.1.2.2. By Type of Coverage

8.3.1.2.3. By Term of Coverage

8.3.1.2.4. By Mode of Purchase

8.3.1.2.5. By End Users

8.3.2. India Health Insurance Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Insurance Provider

8.3.2.2.2. By Type of Coverage

8.3.2.2.3. By Term of Coverage

8.3.2.2.4. By Mode of Purchase

8.3.2.2.5. By End Users

8.3.3. Japan Health Insurance Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Insurance Provider

8.3.3.2.2. By Type of Coverage

8.3.3.2.3. By Term of Coverage

8.3.3.2.4. By Mode of Purchase

8.3.3.2.5. By End Users

8.3.4. South Korea Health Insurance Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Insurance Provider

8.3.4.2.2. By Type of Coverage

8.3.4.2.3. By Term of Coverage

8.3.4.2.4. By Mode of Purchase

8.3.4.2.5. By End Users

8.3.5. Australia Health Insurance Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Insurance Provider

8.3.5.2.2. By Type of Coverage

8.3.5.2.3. By Term of Coverage

8.3.5.2.4. By Mode of Purchase

8.3.5.2.5. By End Users

9. Middle East & Africa Health Insurance Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Insurance Provider

9.2.2. By Type of Coverage

9.2.3. By Term of Coverage

9.2.4. By Mode of Purchase

9.2.5. By End Users

9.2.6. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Health Insurance Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Insurance Provider

9.3.1.2.2. By Type of Coverage

9.3.1.2.3. By Term of Coverage

9.3.1.2.4. By Mode of Purchase

9.3.1.2.5. By End Users

9.3.2. UAE Health Insurance Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Insurance Provider

9.3.2.2.2. By Type of Coverage

9.3.2.2.3. By Term of Coverage

9.3.2.2.4. By Mode of Purchase

9.3.2.2.5. By End Users

9.3.3. South Africa Health Insurance Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Insurance Provider

9.3.3.2.2. By Type of Coverage

9.3.3.2.3. By Term of Coverage

9.3.3.2.4. By Mode of Purchase

9.3.3.2.5. By End Users

10. South America Health Insurance Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Insurance Provider

10.2.2. By Type of Coverage

10.2.3. By Term of Coverage

10.2.4. By Mode of Purchase

10.2.5. By End Users

10.2.6. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Health Insurance Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Insurance Provider

10.3.1.2.2. By Type of Coverage

10.3.1.2.3. By Term of Coverage

10.3.1.2.4. By Mode of Purchase

10.3.1.2.5. By End Users

10.3.2. Colombia Health Insurance Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Insurance Provider

10.3.2.2.2. By Type of Coverage

10.3.2.2.3. By Term of Coverage

10.3.2.2.4. By Mode of Purchase

10.3.2.2.5. By End Users

10.3.3. Argentina Health Insurance Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Insurance Provider

10.3.3.2.2. By Type of Coverage

10.3.3.2.3. By Term of Coverage

10.3.3.2.4. By Mode of Purchase

10.3.3.2.5. By End Users

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Health Insurance Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Now Health International (Investments) Limited

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. The Cigna Group

15.3. Aetna Inc.

15.4. AXA - Global Healthcare

15.5. HBF Health Limited

15.6. Centene Corporation

15.7. International Medical Group, Inc.

15.8. Elevance Health, Inc.

15.9. Broadstone Corporate Benefits Limited

15.10. Allianz Care

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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