+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

India Health Insurance Market, by Claim Type, by Insurance Type, by Type of Insurance Provider, by Business Type, by Different Types of Health Insurance Plans, by Type of Scheme, by Type of Coverage, by Mode of Purchase, by Region, Competition, Forecast & Opportunities, 2025

  • ID: 5031388
  • Report
  • July 2020
  • Region: India
  • 75 pages
  • TechSci Research

Enquire about COVID-19 updates for this product.

Enquire Now
The Indian Health Insurance Market is Anticipated to Register a Robust CAGR of 29% During 2021-2025.

FEATURED COMPANIES

  • Digi Health Insurance
  • HDFC Ergo
  • SBI General Insurance
  • MORE
The Indian Health Insurance Market is anticipated to register a robust CAGR of 29% during 2021-2025 owing to expanding middle-class population, growing awareness about benefits offered by a health insurance plan, favorable government initiatives and growing expenditure on healthcare. The insurance sector in India is regulated by the Insurance Regulatory and Development Authority of India (IRDAI). The introduction of health insurance schemes by Indian government, which includes personal accident (PA) schemes like Pradhan Mantri Suraksha Bima Yojana (PMSBY), PA cover from Indian Railway Catering and Tourism Corp (IRCTC) and so on, has resulted in increasing penetration of the health insurance market in India.

Health insurance is a type of insurance coverage that pays for medical, surgical, and sometimes dental expenses of the insurance holder. It protects the insurance holder from unexpected, high medical costs. Health insurance usually requires the covered policyholder to bear a portion of the risk by paying initial medical costs up to an agreed-upon amount before the health insurance is liable for payment.

The health insurance market is booming in India with rising number of people suffering from chronic diseases, increasing number of road accidents and encouragement from both public and private sector companies.

The Indian Health Insurance Market is segmented based on claim type, type of insurance provider, insurance type, business type, different types of health insurance plans, type of scheme, type of coverage, term of coverage, cash limit, mode of purchase, end-user and region. Based on type of insurance provider, the market is segmented into public, private and standalone health insurers. In 2019, private insurance providers accounted for the largest share in the Indian Health Insurance Market. Private insurance providers offer quick referral to a consultant, provide advanced treatment options, and have quick and flexible treatment time for users in private hospitals. Based on insurance type, the market is segmented into disease and income protection. In 2019, disease insurance type dominated the health insurance market and the segment is expected to continue its dominance during the forecast period. However, income protection health insurance segment is foreseen to grow at a faster pace through 2025.

Major players operating in the Indian Health Insurance Market include Star Health Insurance, ICICI Lombard General Insurance Company, Religare Health Insurance Company Limited, HDFC Ergo, Max Bupa Health Insurance, TATA-AIG General Insurance Company Limited, SBI General Insurance, Universal Sompo Health Insurance, Edelweiss Health Insurance, Digi Health Insurance, and others. The insurance providers operating in India are now increasingly focusing on providing specialized health policies as well as on rural masses to increase the market share.

Years considered for this report:
  • Historical Years: 2015-2018
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Period: 2021–2025
The Objective of the Study:
  • To analyze and forecast the market size of the Indian Health Insurance Market.
  • To classify and forecast the Indian Health Insurance Market based on type of insurance provider, insurance type, type of scheme, type of coverage, term of coverage, cash limit, mode of purchase, end-user and regional distribution.
  • To identify drivers and challenges for the Indian Health Insurance Market.
  • To examine competitive developments such as expansions, new product launches in the Indian Health Insurance Market.
  • To conduct pricing analysis for the Indian Health Insurance Market.
  • To identify and analyze the profile of leading players operating in the Indian Health Insurance Market.
The author performed both primary as well as exhaustive secondary research for this study. Initially, the author sourced a list of insurance providers across the country. Subsequently, the author conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. The author analyzed the insurance providers, as well as the presence of all major players across the country.

The author calculated the market size of the Indian Health Insurance Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The author sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:
  • Health insurance providers, vendors and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to health insurance
  • Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as insurance providers, vendors, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:
In this report, the Indian Health Insurance Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, By Claim Type:
  • Cashless
  • Reimbursement Type
Market, By Insurance Type:
  • Disease
  • Income Protection
Market, By Type of Insurance Provider:
  • Public
  • Private
  • Standalone Health Insurers
Market, By Business Type:
  • Government Sponsored Health Insurance
  • Group Health Insurance
  • Individual Health Insurers
Market, By Different Types of Health Insurance Plans
  • Indemnity Plans
  • Defined-Benefit Plans
Market, By Different Types of Health Insurance Plans, By Indemnity Plans
  • Family-Floater Plans
  • Individual Insurance
  • Senior Citizen Plans
  • Unit Linked Health Plans
Market, By Different Types of Health Insurance Plans, By Defined-Benefit Plans
  • Hospitalization Cash Benefit Plans
  • Critical Illness Plans
  • Personal Accident Plans
Market, By Type of Scheme:
  • Community-based
  • Employer based
  • Voluntary
Market, By Type of Coverage:
  • Family
  • Individual
  • Extended Family
Market, By Term of Coverage:
  • Term
  • Lifetime
Market, By Cash Limit:
  • Up to INR 200,000
  • INR 200,001 – 300,000
  • INR 300,001 – 500,000
  • INR 500,001 – 1,000,000
  • Above INR 1 Million
Market, By Mode of Purchase:
  • Insurance Agents
  • Bancassurance
  • Corporate Agents
  • Direct Company Representatives
  • Brokers
  • Online Portal
  • Web Aggregators
  • Others
Market, By End-Users:
  • Adults
  • Minor
  • Senior Citizens
Market, By Region:
  • North
  • West
  • South
  • East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Health Insurance Market.

Available Customizations:
With the given market data, the author offers customizations according to a client’s specific needs.

This report will be delivered within 3 business days and will include the latest impact analysis of COVID-19.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Digi Health Insurance
  • HDFC Ergo
  • SBI General Insurance
  • MORE
1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on India Health Insurance Market

4. Executive Summary

5. Voice of Customer

6. India Insurance Sector Overview
6.1. Penetration
6.2. Premium Paid
6.3. Grievance
6.4. Infrastructure

7. India Health Insurance Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Claim Type (Cashless, Reimbursement)
7.2.2. By Insurance Type (Disease, Income Protection)
7.2.3. By Type of Insurance Provider (Public, Private, Standalone Health Insurers)
7.2.4. By Business Type (Government Sponsored, Group, Individual)
7.2.5. By Different Types of Plans (Indemnity Plans, Defined- Benefit Plans)
7.2.6. By Indemnity Plans (Family Floater Coverage, Individual Insurance, Senior Citizen Coverage, Unit Linked Health Plans)
7.2.7. By Type of Scheme (Community-based, Employer based, Voluntary)
7.2.8. By Type of Coverage (Individual, Family, Extended Family)
7.2.9. By Term of Coverage (Term, Lifetime)
7.2.10. By Cash Limit (Up to INR 200,000, INR 200,001 - 300,000, INR 300,001 - 500,000, INR 500,001 - 1,000,000, & Above INR 1 Million)
7.2.11. By Mode of Purchase (Insurance Agent, Bancassurance, Corporate Agents, Direct Company Representatives, Brokers, Online, Web Aggregators, Others)
7.2.12. By End User (Minors, Adults, Senior Citizens)
7.2.13. By Company (2019)
7.2.14. By Region
7.3. Market Attractiveness Index

8. North India Health Insurance Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Different Types of Health Insurance Plans
8.2.2. By Type of Scheme
8.2.3. By Type of Coverage
8.2.4. By End User

9. South India Health Insurance Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Different Types of Health Insurance Plans
9.2.2. By Type of Scheme
9.2.3. By Type of Coverage
9.2.4. By End User

10. East India Health Insurance Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Different Types of Health Insurance Plans
10.2.2. By Type of Scheme
10.2.3. By Type of Coverage
10.2.4. By End User

11. West India Health Insurance Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Different Types of Health Insurance Plans
11.2.2. By Type of Scheme
11.2.3. By Type of Coverage
11.2.4. By End User

12. Market Dynamics
12.1. Drivers
12.2. Challenges
12.3. Impact Analysis of Various Driver & Challenges

13. Market Trends & Developments

14. Policy & Regulatory Landscape
14.1. Tax Benefits
14.2. Portability
14.3. Insurance Act
14.4. Foreign Direct Investment
14.5. Role of IRDAI
14.6. National Health Protection Scheme under Ayushman Bharat

15. Competitive Landscape
15.1. Company Profile
15.1.1. Company Detail
15.1.2. Service Charges & Fees
15.1.3. Hospitalization Process
15.1.4. Documentation Required for Insurance
15.2. Competition Outlook
15.3. Players Profiled (Leading Companies)
15.3.1. SBI General Insurance
15.3.2. ICICI Lombard General Insurance
15.3.3. TATA-AIG General Insurance Company Limited
15.3.4. Religare Health Insurance Company Limited
15.3.5. Star Health and Allied Insurance Co Ltd
15.3.6. Manipal Cigna Health Insurance Limited
15.3.7. Universal Sompo Health Insurance
15.3.8. Edelweiss Health Insurance
15.3.9. Digi Health Insurance
15.3.10. HDFC Ergo
15.3.11. Others

16. Strategic Recommendations
(Note: The companies list can be customized based on the client requirements.)

List of Figures
Figure 1: India Health Insurance Market Size, By Value (USD Billion), 2015-2025F
Figure 2: India Health Insurance Market Share, By Claim Type, 2019 & 2025
Figure 3: India Health Insurance Market Share, By Insurance Type, 2019 & 2025
Figure 4: India Health Insurance Market Share, By Type of Insurance Provider, 2019 & 2025
Figure 5: India Health Insurance Market Share, By Business Type, 2019 & 2025
Figure 6: India Health Insurance Market Share, By Different Types of Health Insurance Plans, 2019 & 2025F
Figure 7: India Health Insurance Market Share, By Different Types of Health Insurance Plans, By Indemnity Plans, 2019 & 2025F
Figure 8: India Health Insurance Market Share, By Different Types of Health Insurance Plans, By Defined-Benefit Plans, 2019 & 2025F
Figure 9: India Health Insurance Market Share, By Types of Scheme, 2015-2025F
Figure 10: India Health Insurance Market Share, By Types of Coverage, 2019 & 2025F
Figure 11: India Health Insurance Market Share, By Term of Coverage, 2019 & 2025F
Figure 12: India Health Insurance Market Share, By Cash Limit, 2019 & 2025F
Figure 13: India Health Insurance Market Share, By End-User, 2019 & 2025F
Figure 14: India Health Insurance Market Share, By Region, 2019 & 2025F
Figure 15: India Health Insurance Market Share, By Company, 2019
Figure 16: India Health Insurance Market Map, By Claim Type - Market Size (USD Billion) & Growth Rate (%)
Figure 17: India Health Insurance Market Map, By Insurance Type - Market Size (USD Billion) & Growth Rate (%)
Figure 17: India Health Insurance Market Map, By Type of Insurance Provider - Market Size (USD Billion) & Growth Rate (%)
Figure 18: India Health Insurance Market Map, By Business Type- Market Size (USD Billion) & Growth Rate (%)
Figure 19: India Health Insurance Market Map, By Different Types of Health Insurance Plans - Market Size (USD Billion) & Growth Rate (%)
Figure 20: India Health Insurance Market Map, By Different Types of Health Insurance Plans, By Indemnity Plans - Market Size (USD Billion) & Growth Rate (%)
Figure 21: India Health Insurance Market Map, By Different Types of Health Insurance Plans, By Defined-Benefit Plans - Market Size (USD Billion) & Growth Rate (%)
Figure 22: India Health Insurance Market Map, By Types of Scheme - Market Size (USD Billion) & Growth Rate (%)
Figure 23: India Health Insurance Market Map, By Types of Coverage - Market Size (USD Billion) & Growth Rate (%)
Figure 24: India Health Insurance Market Map, By Cash Limit - Market Size (USD Billion) & Growth Rate (%)
Figure 25: India Health Insurance Market Map, By End-User - Market Size (USD Billion) & Growth Rate (%)
Figure 26: India Health Insurance Market Map, By Region - Market Size (USD Billion) & Growth Rate (%)
Figure 27: North India Health Insurance Market Size, By Value (USD Billion), 2015-2025F
Figure 28: North India Health Insurance Market Share, By Different Types of Health Insurance Plans, 2019 & 2025F
Figure 29: North India Health Insurance Market Share, By Types of Scheme, 2015-2025F
Figure 30: North India Health Insurance Market Share, By Types of Coverage, 2019 & 2025F
Figure 31: North India Health Insurance Market Share, By End- User, 2019 & 2025F
Figure 32: West India Health Insurance Market Size, By Value (USD Billion), 2015-2025F
Figure 33: West India Health Insurance Market Share, By Different Types of Health Insurance Plans, 2019 & 2025F
Figure 34: West India Health Insurance Market Share, By Types of Scheme, 2015-2025F
Figure 35: West India Health Insurance Market Share, By Types of Coverage, 2019 & 2025F
Figure 36: West India Health Insurance Market Share, By End- User, 2019 & 2025F
Figure 37: South India Health Insurance Market Size, By Value (USD Billion), 2015-2025F
Figure 38: South India Health Insurance Market Share, By Different Types of Health Insurance Plans, 2019 & 2025F
Figure 39: South India Health Insurance Market Share, By Types of Scheme, 2015-2025F
Figure 40: South India Health Insurance Market Share, By Types of Coverage, 2019 & 2025F
Figure 41: South India Health Insurance Market Share, By End- User, 2019 & 2025F
Figure 42: East India Health Insurance Market Size, By Value (USD Billion), 2015-2025F
Figure 43: East India Health Insurance Market Share, By Different Types of Health Insurance Plans, 2019 & 2025F
Figure 44: East India Health Insurance Market Share, By Types of Scheme, 2015-2025F
Figure 45: East India Health Insurance Market Share, By Types of Coverage, 2019 & 2025F
Figure 46: East India Health Insurance Market Share, By End- User, 2019 & 2025F
Note: Product cover images may vary from those shown
  • SBI General Insurance
  • ICICI Lombard General Insurance
  • TATA-AIG General Insurance Company Limited
  • Religare Health Insurance Company Limited
  • Star Health and Allied Insurance Co Ltd
  • Manipal Cigna Health Insurance Limited
  • Universal Sompo Health Insurance
  • Edelweiss Health Insurance
  • Digi Health Insurance
  • HDFC Ergo
Note: Product cover images may vary from those shown
Adroll
adroll