According to the latest report by IMARC Group, titled “UAE Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the UAE health insurance market size reached US$ 7.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.32% during 2023-2028.
Health insurance or medical insurance refers to a form of a legal agreement between an insurance company and a policyholder under which the company agrees to pay the client or policyholder for all medical expenses incurred by her or him. The insurance company reimburse the amount either as per the bills or with help of cashless process. An individual can avail their insurance policy against monthly or annual premium payments, for a specified tenure.
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UAE Health Insurance Market Trends:
The rapidly growing population and economy of the country are aiding the demand for health insurance across the UAE. In addition to this, government initiatives are further boosting the penetration of health insurance in the UAE. For instance, the government provides full medical coverage for all UAE nationals and mandates employers to provide health insurance for all employees. Apart from this, the rising awareness regarding the increasing offerings of advanced healthcare policies is expected to contribute to the growth of the market. Other factors, such as the increasing prevalence of various lifestyle diseases, escalating incidences of chronic diseases, and the rising costs of medical treatments, along with significant budget allocation on healthcare by the government are driving the market growth further across the country.
UAE Health Insurance Market 2023-2028 Competitive Analysis and Segmentation:
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:
Breakup by Service Provider:
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- 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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