Europe Health Insurance Market Introduction and Overview
According to SPER Market Research, the Europe Health Insurance Market is estimated to reach USD 601.25 billion by 2033 with a CAGR of 6.29%.
The report includes an in-depth analysis of the Europe Health Insurance Market, including market size and trends, product mix, distribution channels, and supplier analysis. Health insurance provides coverage for surgical expenses and medical treatments resulting from illness or injury. It can encompass a broad or limited range of medical services, covering either full or partial costs of specific services. This insurance offers financial support to policyholders during hospitalization for treatment and also includes pre and post-hospitalization expenses. Health insurance plans offer two types of coverage: cashless benefits for treatment at network hospitals and reimbursement claims for treatment at non-network hospitals, where policyholders initially cover the expenses and then seek reimbursement by submitting medical bills to the insurance company.
- August 2020: International Medical Group, Inc. (IMG) expanded its product range to assist organizations in planning safe international travel, introducing new assistance services. These additions enabled the company's resilience during the pandemic.
- June 2021: Vitality has teamed up with Samsung UK to incorporate Samsung Health into its program, allowing members to monitor their activity and enhance their health. This partnership enables Android users to connect their Samsung Health profile to their Vitality Member Zone account, automatically recording daily steps and heart rate activity for Vitality activity points.
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Market Opportunities and Challenges
- Opportunities: Growing Number of Day care Procedures: Day care procedures are medical treatments requiring a short hospital stay. Many insurers now cover these procedures, eliminating the 24-hour hospital stay requirement for insurance claims. This boosts market demand. Mandatory Healthcare Insurance Provision in the Public and Private Sectors: Both public and private sector employees are required to purchase healthcare insurance. It provides essential medical benefits during employment, helping with treatment costs during emergencies. Employers often extend this coverage to employees and their families, sometimes contributing to the premium.
- Challenges: High cost of Insurance Premiums: Health insurance encompasses various medical treatment costs, offering financial assistance during hospitalization, including pre and post-hospitalization expenses. Policyholders pay regular premiums to maintain coverage, with high premiums in many cases affecting market growth.
- Lack of knowledge of the benefits of health insurance: In healthcare, a significant portion of the global population is unaware of the advantages of health insurance policies. Despite healthcare costs rising due to technological advancements, low awareness hinders the adoption of these policies.
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Market Competitive Landscape
The European health insurance market has strong consumer loyalty, making it challenging for new entrants. Health insurance companies often partner with healthcare institutions to enhance revenue. Strategies like mergers, acquisitions, partnerships, and joint ventures are prevalent. The market exhibits a moderate level of fragmentation, with several major players, including AIA Group Limited, Allianz Care, Anthem Insurance Companies, Inc., Assicurazioni Generali S.P.A., Aviva, AXA, Broadstone Corporate Benefits Limited, Bupa, Centene Corporation, Cigna, Leboncoin, HBF Health Limited, Healthcare International Europe Network Ltd, International Medical Group, Inc., MAPFRE, Now Health International, Oracle, United Health Group, Vhi Group, Vitality, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Services, By Level of Coverage, By Service Providers, By Health Insurance Plans, By Demographics, By Coverage Type, By End User, By Distribution Channel
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| Regions covered | Belgium, France, Germany, Italy, Netherlands, Russia, Spain, Switzerland, Turkey, U.K., Rest of Europe
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| Companies Covered | AIA Group Limited, Allianz Care, Anthem Insurance Companies, Inc., Assicurazioni Generali S.P.A., Aviva, AXA, Broadstone Corporate Benefits Limited, Bupa, Centene Corporation, Cigna, Leboncoin, HBF Health Limited, Healthcare International Europe Network Ltd, International Medical Group, Inc., MAPFRE, Now Health International, Oracle, United Health Group, Vhi Group, Vitality
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COVID-19 Impact on Europe Health Insurance Market
COVID-19 had notable effects on various industries, resulting in workplace closures, supply chain disruptions, and transportation restrictions. However, the supply-demand imbalance and its impact on pricing are seen as short-term challenges expected to recover post-pandemic. The health insurance sector experienced substantial growth during the pandemic due to increased demand driven by global outbreak fears and rising medical costs. Health insurers introduced packages to cover COVID-19 treatment expenses, leading to significant growth while other industries faced hardships during the pandemic.
Key Target Audience:
- Employers
- Healthcare Facilities
- Healthcare Professionals
- Healthcare Technology Companies
- Individuals and Families
- Insurance Agents and Brokers
- Insurance Companies and Providers
- Pharmaceutical and Medical Device Companies
- Others
Our in-depth analysis of the Europe Health Insurance Market includes the following segments:
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By Type:
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Product
Solutions
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By Services:
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Inpatient Treatment
Medical Assistance
Outpatient Treatment
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By Level of Coverage:
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Bronze
Platinum
Silver
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By Service Providers:
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Private Health Insurance Providers
Public Health Insurance Providers
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By Health Insurance Plans:
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Exclusive Provider Organization
Health Maintenance Organization
Indemnity Health Insurance
Point Of Service
Preferred Provider Organization
Qualified Small Employer Health Reimbursement Arrangements
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Key Topics Covered in the Report:
- Europe Health Insurance Market Size (FY’2023-FY’2033)
- Overview of Europe Health Insurance Market
- Segmentation of Europe Health Insurance Market By Type (Product, Solutions)
- Segmentation of Europe Health Insurance Market By Services (Inpatient Treatment, Medical Assistance, Outpatient Treatment, Others)
- Segmentation of Europe Health Insurance Market By Level of Coverage (Bronze, Gold, Platinum, Silver)
- Segmentation of Europe Health Insurance Market By Service Providers (Private Health Insurance Providers, Public Health Insurance Providers)
- Segmentation of Europe Health Insurance Market By Health Insurance Plans (Exclusive Provider Organization, Health Maintenance Organization, Health Savings Account, Indemnity Health Insurance, Arrangements, Others)
- Segmentation of Europe Health Insurance Market By Demographics (Adults, Minors, Senior Citizens)
- Segmentation of Europe Health Insurance Market By Coverage Type (Lifetime Coverage, Term Coverage)
- Segmentation of Europe Health Insurance Market By End User (Clinics, Direct Sales, E-Commerce, Financial Institutions, Hospitals, Others)
- Segmentation of Europe Health Insurance Market By Distribution Channel (Clinics, Direct Sales, E-Commerce, Financial Institutions, Hospitals, Others)
- Statistical Snap of Europe Health Insurance Market
- Expansion Analysis of Europe Health Insurance Market
- Problems and Obstacles in Europe Health Insurance Market
- Competitive Landscape in the Europe Health Insurance Market
- Impact of COVID-19 and Demonetization on Europe Health Insurance Market
- Details on Current Investment in Europe Health Insurance Market
- Competitive Analysis of Europe Health Insurance Market
- Prominent Players in the Europe Health Insurance Market
- SWOT Analysis of Europe Health Insurance Market
- Europe Health Insurance Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Europe Health Insurance Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Europe Health Insurance Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Health Insurance Market
7. Europe Health Insurance Market, By Type, 2019-2033 (USD Million)
7.1 Product
7.2 Solutions
8. Europe Health Insurance Market, By Services, 2019-2033 (USD Million)
8.1 Inpatient Treatment
8.2 Medical Assistance
8.3 Outpatient Treatment
8.4 Others
9. Europe Health Insurance Market, By Level of Coverage, 2019-2033 (USD Million)
9.1 Bronze
9.2 Gold
9.3 Platinum
9.4 Silver
10. Europe Health Insurance Market, By Service Providers, 2019-2033 (USD Million)
10.1 Private Health Insurance Providers
10.2 Public Health Insurance Providers
11. Europe Health Insurance Market, By Health Insurance Plans, 2019-2033 (USD Million)
11.1 Exclusive Provider Organization
11.2 Health Maintenance Organization
11.3 Health Savings Account
11.4 Indemnity Health Insurance
11.5 Point Of Service
11.6 Preferred Provider Organization
11.7 Qualified Small Employer Health Reimbursement Arrangements
11.8 Others
12. Europe Health Insurance Market, By Demographics, 2019-2033 (USD Million)
12.1 Adults
12.2 Minors
12.3 Senior Citizens
13. Europe Health Insurance Market, By Coverage Type, 2019-2033 (USD Million)
13.1 Lifetime Coverage
13.2 Term Coverage
14. Europe Health Insurance Market, By End User, 2019-2033 (USD Million)
14.1 Corporate
14.2 Individuals
14.3 Others
15. Europe Health Insurance Market, By Distribution Channel, 2019-2033 (USD Million)
15.1 Clinics
15.2 Direct Sales
15.3 E-Commerce
15.4 Financial Institutions
15.5 Hospitals
15.6 Others
16. Europe Health Insurance Market, By Region, 2019-2033 (USD Million)
16.1 Europe Health Insurance Size and Market Share by Region (2019-2026)
16.2 Europe Health Insurance Size and Market Share by Region (2027-2033)
16.3 Belgium
16.4 France
16.5 Germany
16.6 Italy
16.7 Netherlands
16.8 Russia
16.9 Spain
16.10 Switzerland
16.11 Turkey
16.12 U.K.
16.13 Rest of Europe
17. Company Profiles
17.1 AIA Group Limited
17.1.1 Company details
17.1.2 Financial outlook
17.1.3 Product summary
17.1.4 Recent developments
17.2 Allianz Care
17.2.1 Company details
17.2.2 Financial outlook
17.2.3 Product summary
17.2.4 Recent developments
17.3 Anthem Insurance Companies, Inc.
17.3.1 Company details
17.3.2 Financial outlook
17.3.3 Product summary
17.3.4 Recent developments
17.4 Assicurazioni Generali S.P.A.
17.4.1 Company details
17.4.2 Financial outlook
17.4.3 Product summary
17.4.4 Recent developments
17.5 Aviva
17.5.1 Company details
17.5.2 Financial outlook
17.5.3 Product summary
17.5.4 Recent developments
17.6 AXA
17.6.1 Company details
17.6.2 Financial outlook
17.6.3 Product summary
17.6.4 Recent developments
17.7 Broadstone Corporate Benefits Limited
17.7.1 Company details
17.7.2 Financial outlook
17.7.3 Product summary
17.7.4 Recent developments
17.8 Bupa
17.8.1 Company details
17.8.2 Financial outlook
17.8.3 Product summary
17.8.4 Recent developments
17.9 Centene Corporation
17.9.1 Company details
17.9.2 Financial outlook
17.9.3 Product summary
17.9.4 Recent developments
17.10 Cigna
17.10.1 Company details
17.10.2 Financial outlook
17.10.3 Product summary
17.10.4 Recent developments
17.11 Leboncoin
17.11.1 Company details
17.11.2 Financial outlook
17.11.3 Product summary
17.11.4 Recent developments
17.12 HBF Health Limited
17.12.1 Company details
17.12.2 Financial outlook
17.12.3 Product summary
17.12.4 Recent developments
17.13 Healthcare International Europe Network Ltd
17.13.1 Company details
17.13.2 Financial outlook
17.13.3 Product summary
17.13.4 Recent developments
17.14 International Medical Group Inc.
17.14.1 Company details
17.14.2 Financial outlook
17.14.3 Product summary
17.14.4 Recent developments
17.15 MAPFRE
17.15.1 Company details
17.15.2 Financial outlook
17.15.3 Product summary
17.15.4 Recent developments
17.16 Now Health International
17.16.1 Company details
17.16.2 Financial outlook
17.16.3 Product summary
17.16.4 Recent development
17.17 Oracle
17.17.1 Company details
17.17.2 Financial outlook
17.17.3 Product summary
17.17.4 Recent developments
17.18 United Health Group
17.18.1 Company details
17.18.2 Financial outlook
17.18.3 Product summary
17.18.4 Recent developments
17.19 Vhi Group
17.19.1 Company details
17.19.2 Financial outlook
17.19.3 Product summary
17.19.4 Recent developments
17.20 Vitality
17.20.1 Company details
17.20.2 Financial outlook
17.20.3 Product summary
17.20.4 Recent developments
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope