Due to the increasing prevalence of chronic diseases, medical expenses have gone up sharply. The demand for different types of health insurance with different coverage has also increased. In line with their need for an efficient flow of payment processes, health insurance companies use technology to ensure that the insurer is supported by their preferred personal insurance, and these companies can pay their claims to the relevant health organizations accurately regularly.
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Table of Contents
Market / Industry segment of health insurance
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2019 | 3298 | 7 | 4.60% | Value market research |
| 2018 | 1400 | 6 | 4.20% | GMInsight |
| 2019 | 1.1 | 8 | 3.50% | Verified market research |
| 2018 | 137.4 | 7 | 4.10% | Market research future |
| 2018 | 1700 | 6 | 4.30% | PS market research |
Influencing factors that changes market size of health insurance
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of health insurance
Direct drivers:
- Increasing costs of healthcare
- Prevalence of chronic diseases
- DALY
Reverse drivers:
- Inappropriate contract of insurance companies with doctors and medical centers
- Inadequate financial coverage
This market may also be threatened by following risks:
In all different markets and industries, the risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment identifying risks in the market to perform risk management. This market may also be threatened by the following risks:
- Legislation risk
- Litigation risk
- Competition risk
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