PUBLISHER: IMARC | PRODUCT CODE: 1451049
PUBLISHER: IMARC | PRODUCT CODE: 1451049
GCC Health Insurance Market Report by Type (Individual, Group), Service Provider (Public, Private), and Region 2024-2032
The GCC health insurance market size reached US$ 17.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032.
Health insurance is a service which covers medical and surgical expenses of the insured individual. It reimburses the expenses incurred due to illness and injury or pays the care provider directly. Health insurance offers considerable flexibility in terms of disease coverage, diagnosis and treatment for chronic ailments, emergency transportation, in-patient and day care management, maternity, dental care, psychiatric care, etc. They are available in multiple arrangements for the consumers such as private health insurance, public or government health insurance, managed care plans, indemnity, Point-of-Service (POS) plans, etc. The consumer can opt for the most suitable insurance plan depending upon their needs and requirements.
Historically, governments in the GCC region accounted for most of the healthcare requirements of their nationals. However, upon recognising that the "welfare state" approach is expensive and unsustainable in the long run, Saudi Arabia, Qatar, and Dubai and Abu Dhabi in the UAE have already introduced mandatory health insurance, while Bahrain, Oman and Kuwait are in the process of introducing it. Apart from the strong government support, the strong growth in the healthcare infrastructure and rising migration in the GCC region are also driving the GCC health insurance market. Additionally, rising healthcare costs and increasing awareness for health management has also catalyzed the demand for insurance policies in the region. In order to safeguard the consumers from exorbitant medical bills, insurance policymakers are designing programs that fit the exact need of the consumer.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC health insurance market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type and service provider.
Breakup by Type:
Individual
Group
Breakup by Service Provider:
Public
Private
Breakup by Region:
Saudi Arabia
UAE
Oman
Kuwait
Bahrain
Qatar
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles
IMARC Group's latest report provides a deep insight into the GCC health insurance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the GCC health insurance market in any manner.
Key Questions Answered in This Report:
- How has the GCC health insurance market performed so far and how will it perform in the coming years?
- What are the key regional markets in the GCC health insurance industry?
- What has been the impact of COVID-19 on the GCC health insurance market?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the service provider?
- What are the various stages in the value chain of the GCC health insurance industry?
- What are the key driving factors and challenges in the GCC health insurance industry?
- What is the structure of the GCC health insurance industry and who are the key players?
- What is the degree of competition in the GCC health insurance industry?
- What are the profit margins in the GCC health insurance industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 GCC Health Insurance Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Type
- 5.5 Market Breakup by Service Provider
- 5.6 Market Breakup by Region
- 5.7 Market Forecast
- 5.8 SWOT Analysis
- 5.8.1 Overview
- 5.8.2 Strengths
- 5.8.3 Weaknesses
- 5.8.4 Opportunities
- 5.8.5 Threats
- 5.9 Value Chain Analysis
- 5.10 Porters Five Forces Analysis
- 5.10.1 Overview
- 5.10.2 Bargaining Power of Buyers
- 5.10.3 Bargaining Power of Suppliers
- 5.10.4 Degree of Competition
- 5.10.5 Threat of New Entrants
- 5.10.6 Threat of Substitutes
- 5.11 PESTEL Analysis
- 5.11.1 Political
- 5.11.2 Economic
- 5.11.3 Social
- 5.11.4 Legal
- 5.11.5 Environmental
- 5.11.6 Technological
- 5.12 Price Analysis
6 Market Breakup by Type
- 6.1 Individual
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Group
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Service Provider
- 7.1 Public
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Private
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Region
- 8.1 Saudi Arabia
- 8.1.1 Current Trends
- 8.1.2 Market Forecast
- 8.2 UAE
- 8.2.1 Current Trends
- 8.2.2 Market Forecast
- 8.3 Oman
- 8.3.1 Current Trends
- 8.3.2 Market Forecast
- 8.4 Kuwait
- 8.4.1 Current Trends
- 8.4.2 Market Forecast
- 8.5 Bahrain
- 8.5.1 Current Trends
- 8.5.2 Market Forecast
- 8.6 Qatar
- 8.6.1 Current Trends
- 8.6.2 Market Forecast
9 Government Regulations
10 Strategic Recommendations
11 Competitive Landscape
- 11.1 Market Structure
- 11.2 Key Players
- 11.3 Profiles of Key Players
List of Figures
- Figure 1: GCC: Health Insurance Market: Major Drivers and Challenges
- Figure 2: GCC: Health Insurance Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: GCC: Health Insurance Market: Breakup by Type (in %), 2023
- Figure 4: GCC: Health Insurance Market: Breakup by Service Provider (in %), 2023
- Figure 5: GCC: Health Insurance Market: Breakup by Region (in %), 2023
- Figure 6: GCC: Health Insurance Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 7: GCC: Health Insurance Industry: SWOT Analysis
- Figure 8: GCC: Health Insurance Industry: Value Chain Analysis
- Figure 9: GCC: Health Insurance Industry: Porter's Five Forces Analysis
- Figure 10: GCC: Health Insurance Industry: PESTEL Analysis
- Figure 11: GCC: Health Insurance (Individual) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: GCC: Health Insurance (Individual) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: GCC: Health Insurance (Group) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: GCC: Health Insurance (Group) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: GCC: Health Insurance (Public) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: GCC: Health Insurance (Public) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: GCC: Health Insurance (Private) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: GCC: Health Insurance (Private) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Saudi Arabia: Health Insurance Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Saudi Arabia: Health Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: UAE: Health Insurance Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: UAE: Health Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Oman: Health Insurance Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Oman: Health Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Kuwait: Health Insurance Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Kuwait: Health Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Bahrain: Health Insurance Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Bahrain: Health Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: Qatar: Health Insurance Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: Qatar: Health Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
List of Tables
- Table 1: GCC: Health Insurance Market: Key Industry Highlights, 2023 and 2032
- Table 2: GCC: Health Insurance Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: GCC: Health Insurance Market Forecast: Breakup by Service Provider (in Million US$), 2024-2032
- Table 4: GCC: Health Insurance Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 5: GCC: Health Insurance Market Structure
- Table 6: GCC: Health Insurance Market: Key Players
