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Hospitalization Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030

Starting Price : $4000 | Pages : 175 | Published : March 2021 | SKU CODE : | Format :


The hospitalization insurance market consists of sales of hospitalization insurance by entities (organizations, sole traders, and partnerships) that are engaged in directly underwriting hospitalization insurance policies providing coverage for hospital confinement due to illness, accidents, intensive care of convalescence. Only goods and services traded between entities or sold to end consumers are included.

The hospitalization insurance market covered in this report is segmented by a service provider into private, public. It is also segmented by the network into preferred provider organizations (PPOs), point of service (POS), health maintenance organizations (HMOs), exclusive provider organizations (EPOs), others and by demographics into minors, adults, senior citizens.

The global hospitalization insurance market is expected to grow from $84.78 billion in 2020 to $86.39 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The hospitalization insurance market is expected to reach $147.88 billion in 2025 at a CAGR of 14.4%.

The growing adoption of health insurance policies by individuals during COVID-19 is expected to fuel the growth of the hospitalization insurance market over the forecast period. The demand for health insurance policies has seen a massive spike during the coronavirus pandemic. The rise in the number of COVID-19 positive cases people has made individuals more conscious of the value of buying health insurance. For instance, the officials from the Health Insurance company, Policybazaar stated that in March 2020 (from March 6 to March 31) they experienced a rise of 20-30% over 25 days in terms of sales of health insurance policies when compared with sales in February. More specifically, the number of health policies distributed in March was nearly 45,000, compared with roughly 36,000 in January and February 2020. Therefore, the growing adoption of health insurance policies during COVID-19 contributes to the growth of the hospitalization insurance market.

The exclusion of various medical treatments from the health policy is expected to limit the growth of the hospitalization insurance market in the coming years. The exclusion is a policy clause that excludes coverage for certain types of disorders. Insurers use exclusions to break out coverage for factors they are not willing to insure. For example, most insurance companies, such as Royal Sundaram General Insurance Co. Limited, policy bazaar and few others do not offer compensation for the use of alternative therapies for the treatment of medical problems. Many insurance benefits do not offer compensation for expenses associated with childbirth and pregnancy. Similarly, infertility and abortion care expenses are not included under these insurance plans. Therefore, the exclusion of various medical treatments from the health policy restrains the growth of the hospitalization insurance market.

The integration of blockchain in health insurance is a key trend gaining popularity in the hospitalization insurance market. The incorporation of blockchain in health insurance provides many benefits such as enhancing integrity and protection by offering better control of patient data, reducing regulatory and enforcement costs, and maximizing interactions between health practitioners, insurance providers, and insurers. In June 2018, Alibaba-associated tech firm ZhongAn revealed that it was developing a blockchain-based insurance platform, it had already stepped into data-sharing deals with over 100 Chinese hospitals for automated claims and record validation. In August 2018, MetLife subsidiary LumenLab, based in Singapore, started testing the world's first digital insurance platform utilizing blockchain technology, which would be used to provide automatic payouts for gestational diabetes-affected pregnant women in Singapore.

In January 2020, HDFC ERGO, a joint venture firm between HDFC and ERGO International AG, one of the insurance subsidiaries of Munich Re Group, acquired a majority stake in Apollo Munich Health Insurance company for about $200 million (Rs. 1485.15 crores). The acquisition is expected to provide HDFC ERGO an opportunity to grow by increasing its footprint and distribution network, and it's a strategic objective, and Apollo Munich is renamed as HDFC ERGO.

Major players in the global hospitalization insurance market are Aetna, Anthem Health Insurance, Blue Cross Blue Shield Companies, Cigna, Humana, HCSC, Highmark, Kaiser Permanente, UnitedHealth Group, and Wellcare.

The regions covered in the global hospitalization insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the global hospitalization insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The global hospitalization insurance market is segmented -

1) By Service Provider: Private, Public

2) By Network: Preferred Provider Organizations (PPOs), Point Of Service (POS), Health Maintenance Organizations (HMOs), Exclusive Provider Organizations (EPOs), Others

3) By Demographics: Minors, Adults, Senior Citizens

    1. Executive Summary

    2. Hospitalization Insurance Market Characteristics

    3. Hospitalization Insurance Market Trends And Strategies

    4. Impact Of COVID-19 On Hospitalization Insurance

    5. Hospitalization Insurance Market Size And Growth

    5.1. Global Hospitalization Insurance Historic Market, 2015-2020, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Hospitalization Insurance Forecast Market, 2020-2025F, 2030F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Hospitalization Insurance Market Segmentation

    6.1. Global Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Private

    Public

    6.2. Global Hospitalization Insurance Market, Segmentation By Network, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Preferred Provider Organizations (PPOs)

    Point Of Service (POS)

    Health Maintenance Organizations (HMOs)

    Exclusive Provider Organizations (EPOs)

    Others

    6.3. Global Hospitalization Insurance Market, Segmentation By Demographics, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Minors

    Adults

    Senior Citizens

    7. Hospitalization Insurance Market Regional And Country Analysis

    7.1. Global Hospitalization Insurance Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    7.2. Global Hospitalization Insurance Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    8. Asia-Pacific Hospitalization Insurance Market

    8.1. Asia-Pacific Hospitalization Insurance Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    9. China Hospitalization Insurance Market

    9.1. China Hospitalization Insurance Market Overview

    9.2. China Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

    10. India Hospitalization Insurance Market

    10.1. India Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    11. Japan Hospitalization Insurance Market

    11.1. Japan Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    12. Australia Hospitalization Insurance Market

    12.1. Australia Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    13. Indonesia Hospitalization Insurance Market

    13.1. Indonesia Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    14. South Korea Hospitalization Insurance Market

    14.1. South Korea Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    15. Western Europe Hospitalization Insurance Market

    15.1. Western Europe Hospitalization Insurance Market Overview

    15.2. Western Europe Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    16. UK Hospitalization Insurance Market

    16.1. UK Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    17. Germany Hospitalization Insurance Market

    17.1. Germany Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    18. France Hospitalization Insurance Market

    18.3. France Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    19. Eastern Europe Hospitalization Insurance Market

    19.1. Eastern Europe Hospitalization Insurance Market Overview

    19.2. Eastern Europe Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    20. Russia Hospitalization Insurance Market

    20.1. Russia Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    21. North America Hospitalization Insurance Market

    21.1. North America Hospitalization Insurance Market Overview

    21.2. North America Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    22. USA Hospitalization Insurance Market

    22.1. USA Hospitalization Insurance Market Overview

    22.2. USA Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    23. South America Hospitalization Insurance Market

    23.1. South America Hospitalization Insurance Market Overview

    23.2. South America Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    24. Brazil Hospitalization Insurance Market

    24.1. Brazil Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    25. Middle East Hospitalization Insurance Market

    25.1. Middle East Hospitalization Insurance Market Overview

    25.2. Middle East Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    26. Africa Hospitalization Insurance Market

    26.1. Africa Hospitalization Insurance Market Overview

    26.2. Africa Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    27. Hospitalization Insurance Market Competitive Landscape And Company Profiles

    27.1. Hospitalization Insurance Market Competitive Landscape

    27.2. Hospitalization Insurance Market Company Profiles

    27.2.1. Aetna

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Anthem Health Insurance

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Blue Cross Blue Shield Companies

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Cigna

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Humana

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Hospitalization Insurance Market

    29. Hospitalization Insurance Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Table 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Table 3: Global Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 4: Global Hospitalization Insurance Market, Segmentation By Network, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 5: Global Hospitalization Insurance Market, Segmentation By Demographics, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 6: Global Hospitalization Insurance Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 7: Global Hospitalization Insurance Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 8: Asia-Pacific, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 9: China, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 10: India, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 11: Japan, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 12: Australia, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 13: Indonesia, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 14: South Korea, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 15: Western Europe, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 16: UK, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 17: Germany, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 18: France, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 19: Eastern Europe, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 20: Russia, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 21: North America, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 22: USA, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 23: South America, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 24: Brazil, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 25: Middle East, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 26: Africa, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 27: Aetna Financial Performance
  • Table 28: Anthem Health Insurance Financial Performance
  • Table 29: Blue Cross Blue Shield Companies Financial Performance
  • Table 30: Cigna Financial Performance
  • Table 31: Humana Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Figure 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Figure 3: Global Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 4: Global Hospitalization Insurance Market, Segmentation By Network, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 5: Global Hospitalization Insurance Market, Segmentation By Demographics, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 6: Global Hospitalization Insurance Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 7: Global Hospitalization Insurance Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 8: Asia-Pacific, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 9: China, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 10: India, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 11: Japan, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 12: Australia, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 13: Indonesia, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 14: South Korea, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 15: Western Europe, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 16: UK, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 17: Germany, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 18: France, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 19: Eastern Europe, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 20: Russia, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 21: North America, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 22: USA, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 23: South America, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 24: Brazil, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 25: Middle East, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 26: Africa, Hospitalization Insurance Market, Segmentation By Service Provider, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 27: Aetna Financial Performance
  • Figure 28: Anthem Health Insurance Financial Performance
  • Figure 29: Blue Cross Blue Shield Companies Financial Performance
  • Figure 30: Cigna Financial Performance
  • Figure 31: Humana Financial Performance
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