Europe Health Insurance Market to Witness Significant Growth until 2025

Increasing geriatric population to drive Europe health insurance market

According to TechSci Research report, “Europe Health Insurance Market By Type of Insurance Provider (Public, Private, Standalone Health Insurers), By Insurance Type (Disease, Medical, Income Protection), By Type of Scheme (Voluntary, Mandatory, Community-based, Employer based), By Type of Coverage (Individual v/s Family), By Term of Coverage (Term v/s Lifetime), By Mode of Purchase (Direct Company Representatives, Online Portal, Insurance Agent), By End Users (Minors, Adults, Senior Citizens), By Region, Forecast & Opportunities, 2025”, the Europe health insurance market is expected to witness significant growth during the forecast period on account of the growing prevalence of health disorders such as infectious diseases, chronic diseases and lifestyle associated diseases, which has drastically increased the number of people who suffer from these diseases and require efficient treatment. This has in turn increased the hospitalization rate and costs of availing the treatment for diseases, thereby increasing demand for health insurance policies so that the patients can get access to the treatments without any barrier. Additionally, it is mandatory for all the public and private sector employers to provide health insurance benefits and coverages to their employees. This in turn is expected to foster the market growth. Besides, advent of various technologies in healthcare industry such as robotic assisted surgeries, minimal invasive surgeries, among others is further expected to create lucrative opportunities for the market growth through 2025. However, heavy competition due to emergence of new players and low profit margins might hamper the market growth through 2025. Also, stringent regulations and longer duration of claim reimbursement might further restrict the market growth. 

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The Europe health insurance market is segmented based on type of insurance provider, insurance type, type of scheme, type of coverage, term of coverage, mode of purchase, end users, company and region. Based on insurance type, the market can be grouped into disease, medical and income protection. Among these, the medical insurance segment is expected to dominate the market owing to the growing prevalence of chronic diseases and increasing incidences of road accidents. Based on end users, the market can be fragmented into minors, adults and senior citizens. Here, the adults segment is expected to dominate the market owing to the increasing susceptibility to sedentary lifestyle associated diseases and chronic diseases. On the other hand, the minor segment is expected to witness significant rate of growth in the market on account of the availability of attractive policies for children, which are available at lower premium and include additional perks such as cashless hospitalization.

Allianz Group, Assicurazioni Generali S.p.A., Munich Re, Zurich Insurance Group, Prudential plc, Nippon Life Insurance Company, Dai-ichi Life International (Europe) Limited, Bupa, Aviva plc., BMI Healthcare and others are some of the leading players operating in Europe health insurance market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Europe is expected to witness growth in the health insurance market during the forecast period, owing to the availability of favourable health insurance landscape in the region. Additionally, growing geriatric population and prevalence of chronic diseases on account of the sedentary lifestyle of the population is further expected to spur the market growth. Furthermore, presence of major players operating in the market in the region is expected to create lucrative opportunities for the market growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe Health Insurance Market By Type of Insurance Provider (Public, Private, Standalone Health Insurers), By Insurance Type (Disease, Medical, Income Protection), By Type of Scheme (Voluntary, Mandatory, Community-based, Employer based), By Type of Coverage (Individual v/s Family), By Term of Coverage (Term v/s Lifetime), By Mode of Purchase (Direct Company Representatives, Online Portal, Insurance Agent), By End Users (Minors, Adults, Senior Citizens), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of Europe health insurance market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe health insurance market.

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