Dublin, July 09, 2021 (GLOBE NEWSWIRE) -- The "Europe Health Insurance Market, By Type of Insurance Provider (Public, Private and Standalone Health Insurers), By Type of Coverage (Individual v/s Family), By Term of Coverage (Term v/s Lifetime), By Mode of Purchase, By End Users, By Country, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The European Health Insurance Market was valued USD272.78 Billion in 2020 and is forecast to grow at CAGR of 6.07% to 2026
Health care coverage is a sort of protection that pays for medical costs incurred by the policyholders in a condition of a medical emergency. It offers fast reimbursement for individuals that are afflicted with illnesses for a low premium. The market is driven by the growing awareness pertaining to modern healthcare facilities among the population.
Additionally, Europe comprises of a highly regulated healthcare infrastructure wherein many public and private health insurance companies are well established and compete with each other. Also, the European government provides subsidies to the citizens who cannot afford health insurance policies.
Health insurance coverage for the most part requires the covered policyholder to bear a portion of risk by covering initial medical expenses up to a settled amount before the health care coverage is obligated for installment. The extent of coverage varies depending on the policy's terms, which are influenced by age, illness, government policies, and other factors. Moreover, the government has taken various initiatives to provide health insurance facilities to people.
The European Health Insurance Market is expected to witness significant growth, owing to the poor lifestyle habits of people, a rise in the number of people suffering from chronic diseases, an increasing number of road accidents, and a rise in health expenses such as high prescription costs, etc. Improving GDP of many countries has prompted the growth of the health insurance market in Europe.
The rising cost of quality healthcare and medical services, especially in private hospitals, has resulted in increased demand for health insurance. Hospital treatment costs are enough to deplete a person's savings if one does not have insurance. This makes health insurance plan a necessity. In many countries, the government has made health insurance mandatory for public and private workers.
Furthermore, with the sudden outbreak of COVID-19 pandemic across the globe, the countries like Italy and Spain have been badly affected and the health insurance providers have now started providing the coverage for novel coronavirus disease also, thereby propelling the market growth.
The European Health Insurance Market is segmented based on the type of insurance provider, type of coverage, term of coverage, mode of purchase, end-users, company and region. Based on the type of insurance provider, the European Health Insurance Market is divided into public, private, and standalone health providers.
Among these, the public segment is expected to dominate the market since they provide a prompt referral to a consultant, advanced treatment option, and quick & flexible treatment time. Moreover, the European government has also taken steps to offer different forms of health care for the citizens, due to which a significant portion of the European population prefers public health insurance providers.
Based on the term of coverage, the market can be divided into term and lifetime. Here, the lifetime segment is expected to dominate the market in the forecast period since most of the health insurance providers offer lifetime coverage in their health insurance plans.
Some of the leading players in the European Health Insurance Market are
Zurich Insurance Group
Assicurazioni Generali S.p.A.
Dai-ichi Life International (Europe) Limited
Years considered for this report:
Historical Years: 2016-2020
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Europe Health Insurance Market
4. Executive Summary
5. Voice of Customer
5.1. Factors Affecting Purchasing Decision
5.2. Challenges Faced by Customers Post Health Insurance Plans
5.3. Brand Awareness
6. Europe Health Insurance Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type of Insurance Provider (Public, Private, Standalone Health Insurers)
6.2.2. By Type of Coverage (Individual v/s Family)
6.2.3. By Term of Coverage (Term v/s Lifetime)
6.2.4. By Mode of Purchase (Insurance Agents, Direct Company Representatives, Online Portal)
6.2.5. By End Users (Adults, Minors, Senior Citizens)
6.2.6. By Company (2020)
6.2.7. By Country
6.3. Market Map
6.4. Europe: Country Analysis
6.4.1. Germany Health Insurance Market
6.4.2. United Kingdom Health Insurance Market
6.4.3. France Health Insurance Market
6.4.4. Italy Health Insurance Market
6.4.5. Spain Health Insurance Market
6.4.6. Netherlands Health Insurance Market
6.4.7. Switzerland Health Insurance Market
6.4.8. Sweden Health Insurance Market
6.4.9. Belgium Health Insurance Market
6.4.10. Denmark Health Insurance Market
7. Market Dynamics
8. Market Trends & Developments
9. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/txhqiv
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