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: | Aspirating Dental SyringesNon-Aspirating Dental SyringesSelf-Aspirating Syringes |
| By Product: | Non-disposable Dental SyringesDisposable Dental Syringes |
| By End User: | HospitalDental ClinicsOthers |
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 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 Global Hospital Cash Benefit Insurance Market.
5. Market variable 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
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. Global Hospital Cash Benefit Insurance Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2019-2024
7.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Type, 2025-2030
7.3. Emergency Admission
7.4. Accident
7.5. Medical Treatment
7.6. 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, 2019-2024
8.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Term of Coverage, 2025-2030
8.3. Rider
8.4. 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, 2019-2024
9.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Application, 2025-2030
9.3. Public
9.4. 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, 2019-2024
10.2. Global Hospital Cash Benefit Insurance Market Size, Share and Forecast, By Benefit, 2025-2030
10.3. Lifetime Coverage
10.4. 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-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Qatar
12.5.4. South Africa
12.5.5. Egypt
12.5.6. Morocco
12.5.7. Nigeria
12.5.8. Rest of Middle-East and Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America
13. Company Profile
13.1. Aetna Inc.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. AIA Insurance Group
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Apollo Munich Health Insurance
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Cigna Corporation
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Express Scripts Holding Company
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. ICICI Lombard General Insurance Company
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. International Medical Group
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Star Health Insurance
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. United Health Group Inc.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Zurich Insurance Group Ltd.
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. 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.
