The US Health Insurance Market is estimated to be USD 559.25 Bn in 2023 and is expected to reach USD 910.97 Bn by 2028, growing at a CAGR of 10.25%.The health insurance industry is undergoing a digital transition as an outcome of technology adoption across different sectors
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 the growth and reducing the risks.
Market Segmentations
The US Health Insurance Market is segmented based on Type, Plan Type, Duration, Coverage, Age Group, and Applications.- By Type, the market is classified into Group, and Individual.
- By Plan Type, the market is classified into Medical Insurance, Critical Illness Insurance, Family Floater Health Insurance.
- 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 Organizations, and Exclusive Provider Organizations.
- By Age Group, the market is classified into Direct Sales, Brokers & Agents, and Bankers.
- By Applications, the market is classified into Agricultural and Non-Agricultural .
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 Aetna, Inc., American International Group, Inc., Berkshire Hathaway, Inc., CVS Health Corp., Prudential PLC, United Health Group, Inc., 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 US Health Insurance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the 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 US 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 US 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 the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including 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 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 Demand Increase with Pandemic
4.1.3 Some States have Tax Penalty for Non-Health Insurance Coverage
4.1.4 Private Organizations 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 Reimbursement Issues
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 Health Insurance Market, By Type
6.1 Introduction
6.2 Group
6.3 Individual
7 Health Insurance Market, By Plan Type
7.1 Introduction
7.2 Medical Insurance
7.3 Critical Illness Insurance
7.4 Family Floater Health Insurance
8 Health Insurance Market, By Duration
8.1 Introduction
8.2 Life-Time Coverage
8.3 Term Insurance
9 Health Insurance Market, By Coverage
9.1 Introduction
9.2 Preferred Provider Organizations
9.3 Point of Services
9.4 Health Maintenance Organization
9.5 Exclusive Provider Organization
10 Health Insurance Market, By Age Group
10.1 Introduction
10.2 Senior Citizen
10.3 Adult
10.4 Children
11 Health Insurance Market, By Applications
11.1 Introduction
11.2 Direct Sales
11.3 Brokers and Agents
11.4 Bankers
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 Aetna, Inc.
13.2 American International Group, Inc.
13.3 Anthem, Inc.
13.4 Berkshire Hathaway, Inc.
13.5 Centene Corp.
13.6 Cigna Health
13.7 CVS Health Corp.
13.8 Health Care Service Corp.
13.9 Humana, Inc.
13.10 Kaiser Permanent
13.11 Liberty Mutual Group
13.12 MetLife, Inc.
13.13 New York Life Insurance Company
13.14 Prudential PLC
13.15 State Farm Group
13.16 United Health Group, Inc.
13.17 Zurich American Insurance Co.
14 Appendix
14.1 Questionnaire
Companies Mentioned
- Aetna, Inc.
- American International Group, Inc.
- Anthem, Inc.
- Berkshire Hathaway, Inc.
- Centene Corp.
- Cigna Health
- CVS Health Corp.
- Health Care Service Corp.
- Humana, Inc.
- Kaiser Permanent
- Liberty Mutual Group
- MetLife, Inc.
- New York Life Insurance Company
- Prudential PLC
- State Farm Group
- United Health Group, Inc.
- Zurich American Insurance Co.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | January 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 559.25 Billion |
| Forecasted Market Value ( USD | $ 910.97 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | United States |
| No. of Companies Mentioned | 17 |
