Hospital Cash Benefit Insurance Market Growth, Size, Trends, Demand, Share and Future Outlook
Hospital Cash Benefit Insurance Market Size- By Type, By Term of Coverage, By Application, By Benefit- Regional Outlook, Competitive Strategies and Segment Forecast to 2030
| Published: Aug-2022 | Report ID: HLCA2207 | Pages: 1 - 245 | Formats*: |
| Category : Healthcare | |||
Hospital Cash Benefit Insurance Market Introduction and Overview
According to SPER Market Research, the Global Hospital Cash Benefit Insurance Market is estimated to reach USD 158.89 billion by 2030 with a CAGR of 14.49%.
The report includes an in-depth analysis of the Global Hospital Cash Benefit Insurance Market, including market size and trends, product mix, Applications, and supplier analysis. Hospital cash insurance shields you against income loss by paying out financial compensation during hospital stays. Whether to accept a hospital cash benefit is based on personal need. Only the number of days spent in the hospital determines the amount of money received through hospital cash benefits. However, follow-up care after being hospitalized and medical expenses related to hospital confinement are not covered. As a result, using hospital cash benefits in place of a health insurance plan is not advised. Medical costs, including room and board, surgical fees, and other incidental hospital expenses, may significantly outweigh the hospital financial benefit when a patient is admitted for surgery.
- December 2022; Reserve National Insurance Company was acquired by US health insurance provider Medical Mutual of Ohio for a sum of $90 million. With this calculated action, Medical Mutual hopes to strengthen its position in the market and expand its line of products quickly.
- January 2020; For $334 million, HDFC, an Indian housing financing company with operations in banking, asset management, venture capital, real estate, education, deposits, and education loans, purchased the bulk of Apollo Munich health insurance. Apollo Munich Health Insurance is now known as HDFC ERGO Health Insurance as a result of this acquisition, offering a greater selection of policies and access to a network of over 10,000 cashless hospitals, all aimed at enhancing the client experience.
Market Opportunities and Challenges
The demand for creative insurance solutions like Hospital Daily Cash Benefit Insurance is being driven by the rising prices of healthcare services, which have become a major worldwide concern. People and families are faced with an increasing financial burden while seeking medical care due to the ongoing rise in medical expenses. Conventional health insurance policies frequently do not cover all costs, so policyholders must pay out-of-pocket for a variety of medical procedures. In order to address this problem, Hospital Daily Cash Benefit Insurance pays policyholders a set daily cash benefit while they are in the hospital. They are free to decide how to utilize this money, whether it is for daily living expenditures, travel expenses, or medical bills.
The regulatory difficulties and compliance issues that are inherent in the insurance industry represent a significant obstacle to the global hospital daily cash benefit insurance market. The regulatory environment around insurance goods differs greatly between nations and areas, which presents a difficulty for insurers trying to enter international markets. Hospital Daily Cash Benefit Insurance carriers have to juggle a complex and demanding web of rules, license requirements, and compliance standards. The legality and prosperity of insurance businesses depend heavily on ensuring compliance with national and international regulations. Variations in licensing requirements, consumer protection legislation, and disclosure duties might give rise to regulatory problems.
Market Competitive Landscape
Based on their financial statements, important advancements, strategic approach to the market, position in the market, regional penetration the leading competitors in the industry are Aetna Inc, AIA Insurance Group, Apollo Munich Health Insurance, Cigna Corporation, Express Scripts Holding Company, ICICI Lombard General Insurance Company, International Medical Group, Star Health Insurance, United Health Group Inc, and Zurich Insurance Group Ltd are a few of the top companies in the sector.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2030 |
| Base year considered | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | By Type, By Term of Coverage, By Application, By Benefit |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Aetna Inc, AIA Insurance Group, Apollo Munich Health Insurance, Cigna Corporation, Express Scripts Holding Company, ICICI Lombard General Insurance Company, International Medical Group, Star Health Insurance, United Health Group Inc, Zurich Insurance Group Ltd. |
COVID-19 Impact on Global Hospital Cash Benefit Insurance Market
COVID-19 has a beneficial effect since more and more people are beginning to purchase health insurance. It is quite probable that the COVID-19 pandemic will accelerate the expansion of health insurance in a market that is comparatively underinsured by raising the penetration rate of health insurance. Many insurance companies are creating specialized plans to guarantee impacted coverage. The epidemic has forced companies in many different industries to alter the way they do business, and the insurance sector is no exception. Insurance businesses now primarily rely on their digital architecture for everything from selling new policies to handling claims as a result of the prolonged shutdown following COVID-19.
Key Target Audience
- Individuals with high-deductible health plans (HDHPs)
- Self-employed individuals
- People on Medicare
- Individuals with limited savings
- People who want to supplement their existing health insurance
- People with chronic health conditions
Our in-depth analysis of the Hospital Cash Benefit Insurance Market includes the following segments:
| By Type: | |
| By Product: | |
| By End User: |
Key Topics Covered in the Report
- Global Hospital Cash Benefits Insurance Market Size (FY’2022-FY’2030)
- Overview of Global Hospital Cash Benefits Insurance Market
- Segmentation of Global Hospital Cash Benefits Insurance Market By Type (Emergency Admission, Accident, Medical Treatment, Surgery)
- Segmentation of Global Hospital Cash Benefits Insurance Market By Term of Coverage (Rider, Standalone Cover)
- Segmentation of Global Hospital Cash Benefits Insurance Market By Application (Public, Private)
- Segmentation of Global Hospital Cash Benefits Insurance Market By Benefit (Lifetime Coverage, Term Insurance)
- Statistical Snap of Global Hospital Cash Benefits Insurance Market
- Expansion Analysis of Global Hospital Cash Benefits Insurance Market
- Problems and Obstacles in Global Hospital Cash Benefits Insurance Market
- Competitive Landscape in the Global Hospital Cash Benefits Insurance Market
- Impact of COVID-19 and Demonetization on Global Hospital Cash Benefits Insurance Market
- Details on Current Investment in Global Hospital Cash Benefits Insurance Market
- Competitive Analysis of Global Hospital Cash Benefits Insurance Market
- Prominent Players in the Global Hospital Cash Benefits Insurance Market
- SWOT Analysis of Global Hospital Cash Benefits Insurance Market
- Global Hospital Cash Benefit Insurance Market Future Outlook and Projections (FY’2022-FY’2030)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Hospital Cash Benefit Insurance Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Hospital Cash Benefit Insurance Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Hospital Cash Benefit Insurance Market
7. Global Hospital Cash Benefit Insurance Market, By Type (USD Million) 2019-2030
7.1. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Type, 2019-20247.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Type, 2025-20307.3. Emergency Admission7.4. Accident7.5. Medical Treatment7.6. Surgery
8. Global Hospital Cash Benefit Insurance Market, By Term of Coverage (USD Million) 2019-2030
8.1. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Term of Coverage, 2019-20248.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Term of Coverage, 2025-20308.3. Rider8.4. Standalone Cover
9. Global Hospital Cash Benefit Insurance Market, By Application (USD Million) 2019-2030
9.1. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Application, 2019-20249.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Application, 2025-20309.3. Public9.4. Private
10. Global Hospital Cash Benefit Insurance Market, By Benefit (USD Million) 2019-2030
10.1. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Benefit, 2019-202410.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Benefit, 2025-203010.3. Lifetime Coverage10.4. Term Insurance
11. Global Hospital Cash Benefit Insurance Market Forecast, 2019-2030 (USD Million)
11.1. Global Hospital Cash Benefit Insurance Market Size and Market Share
12. Global Hospital Cash Benefit Insurance Market, By Region, 2019-2030 (USD Million)
12.1. Global Hospital Cash Benefit Insurance Market Size and Market Share By Region (2019-2024)12.2. Global Hospital Cash Benefit Insurance Market Size and Market Share By Region (2025-2030)12.3. Asia-Pacific12.3.1. Australia12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea12.3.6. Rest of Asia-Pacific12.4. Europe12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom12.4.6. Rest of Europe12.5. Middle East and Africa12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Qatar12.5.4. South Africa12.5.5. Egypt12.5.6. Morocco12.5.7. Nigeria12.5.8. Rest of Middle-East and Africa12.6. North America12.6.1. Canada12.6.2. Mexico12.6.3. United States12.7. Latin America12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. Aetna Inc.13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. AIA Insurance Group13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. Apollo Munich Health Insurance13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. Cigna Corporation13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Express Scripts Holding Company13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. ICICI Lombard General Insurance Company13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. International Medical Group13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Star Health Insurance13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. United Health Group Inc.13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. Zurich Insurance Group Ltd.13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Hospital Cash Benefit Insurance Market is projected to reach USD 158.89 billion by 2030, growing at a CAGR of 14.49% during the forecast period.
Hospital Cash Benefit Insurance Market size from 2019. The Market is expected to reach USD 158.89 billion by 2030, at a CAGR of 14.49% during the forecast period.
Hospital Cash Benefit Insurance Market CAGR of 14.49% during the forecast period.
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Hospital Cash Benefit Insurance Market size is 158.89 billion from 2022 to 2030.
Hospital Cash Benefit Insurance Market Segment is covered By Type, By Term of Coverage, By Application, By Benefit.
The North America anticipated to have the highest market share in the Hospital Cash Benefit Insurance Market .
The key players in the market include Companies Covered Aetna Inc, AIA Insurance Group, Apollo Munich Health Insurance, Cigna Corporation, Express Scripts Holding Company, ICICI Lombard General Insurance Company, International Medical Group, Star Health Insurance, United Health Group Inc, Zurich Insurance Group Ltd.
Hospital Daily Cash Benefit Insurance pays policyholders a set daily cash benefit while they are in the hospital. They are free to decide how to utilize this money, whether it is for daily living expenditures.
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