The UK’s Health Insurance Market is estimated to be USD 149.11 Bn in 2023 and is expected to reach USD 241.68 Bn by 2028, growing at a CAGR of 10.14%.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
The analyst analyses the UK’s Health Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
Market Segmentations
The UK’s Health Insurance Market is segmented based on Type, Age Group, Plan Type, Duration, Coverage, and Application.- By Type, the market is classified into Group and Individual.
- By Age Group, the market is classified into Senior Citizen, Adult, and Children.
- By Plan Type, the market is classified into Medical Insurance, Critical Illness Insurance, Family Floater Health Insurance, and Others.
- By Duration, the market is classified into Life-Time Coverage, and Term Insurance.
- By Coverage, the market is classified into Preferred Provider Organizations, Point of Services, Health Maintenance Organization, and Exclusive Provider Organisation.
- By Application, the market is classified into Direct Sales, Brokers and Agents, Bankers, and Others.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Admiral Group PLC, Hiscox Ltd, RSA Insurance Group Ltd., Vitality, WPA, etc.Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the UK’s Health Insurance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.The analyst analyses the UK’s Health Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the UK’s Health Insurance Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Increased Cost of Healthcare
4.1.2 Increasing Demand with Pandemic
4.1.3 Introduction of Mandatory Health Insurance
4.1.4 Private Organisations Providing Employer-Sponsored Health Insurance Plans
4.2 Restraints
4.2.1 Eligibility Regulations
4.3 Opportunities
4.3.1 Rise of Insurtech
4.3.2 Increased Demand for Quality Private Care
4.4 Challenges
4.4.1 Some Healthcare Services and Medical Expense Not Covered
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of Covid-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 UK’s Health Insurance Market, By Type
6.1 Introduction
6.2 Group
6.3 Individual
7 UK’s Health Insurance Market, By Age Group
7.1 Introduction
7.2 Senior Citizen
7.3 Adult
7.4 Children
8 UK’s Health Insurance Market, By Plan Type
8.1 Introduction
8.2 Medical Insurance
8.3 Critical Illness Insurance
8.4 Family Floater Health Insurance
8.5 Others
9 UK’s Health Insurance Market, By Duration
9.1 Introduction
9.2 Life-Time Coverage
9.3 Term Insurance
10 UK’s Health Insurance Market, By Coverage
10.1 Introduction
10.2 Preferred Provider Organizations
10.3 Point of Services
10.4 Health Maintenance Organization
10.5 Exclusive Provider Organisation
11 UK’s Health Insurance Market, By Application
11.1 Introduction
11.2 Direct Sales
11.3 Brokers and Agents
11.4 Bankers
11.5 Others
12 Competitive Landscape
12.1 Competitive Quadrant
12.2 Market Share Analysis
12.3 Strategic Initiatives
12.3.1 M&A and Investments
12.3.2 Partnerships and Collaborations
12.3.3 Product Developments and Improvements
13 Company Profiles
13.1 Admiral Group PLC
13.2 Aviva PLC
13.3 Bupa Healthcare
13.4 Direct Line Insurance Group PLC
13.5 Freedom Healthnet Ltd.
13.6 Hastings Insurance Services Ltd.
13.7 Health-on-Line Company UK Ltd.
13.8 Hiscox Ltd.
13.9 Legal & General Group PLC
13.10 NFU Mutual
13.11 Phoenix Group
13.12 Prudential PLC
13.13 RSA Insurance Group Ltd.
13.14 Vitality
13.15 WPA
14 Appendix
14.1 Questionnaire
Companies Mentioned
- Admiral Group PLC
- Aviva PLC
- Bupa Healthcare
- Direct Line Insurance Group PLC
- Freedom Healthnet Ltd.
- Hastings Insurance Services Ltd.
- Health-on-Line Company UK Ltd.
- Hiscox Ltd.
- Legal & General Group PLC
- NFU Mutual
- Phoenix Group
- Prudential PLC
- RSA Insurance Group Ltd.
- Vitality
- WPA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 189 |
| Published | January 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 149.11 Billion |
| Forecasted Market Value ( USD | $ 241.68 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | United Kingdom |
| No. of Companies Mentioned | 15 |
