The Asia Pacific family floater health insurance market size is projected to reach USD 8.58 trillion by 2030, registering a CAGR of 5.38% over the forecast period. The family floater health insurance offers a wide variety of benefits to the insured family members, which makes it an ideal option for younger families. These benefits are making it quite popular among the population, thereby driving market growth. The family floater plans not only cover the entire family at a low premium but also provide a tax benefit. For instance, in India, a family floater plan gives a tax benefit under Section 80D of the Income Tax Act. In addition, many family floater plans also cover maternity costs making it an ideal option for young couples. The COVID-19 pandemic brought a sharp focus on the need for healthcare reforms that promote universal access to affordable care.
A rise in demand for health insurance, due to high awareness about health insurance policies and how it can cut down the overall burden to pay huge amounts of bills on healthcare services, led to an increased adoption post-pandemic. Moreover, the COVID-19 virus has a long-term impact on an individual’s health and can severely affect their well-being. Chronic diseases are also on the rise post-pandemic. These factors have highlighted the need for health insurance, not only for the older population but also for younger and fit individuals.China dominated the overall market due to the high coverage of population through the public schemes and higher premium value. India, on the other hand, is the fastest-growing region due to lucrative growth opportunities as a large portion of the population is still uninsured and many international companies are entering the market through FDIs.
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A rise in demand for health insurance, due to high awareness about health insurance policies and how it can cut down the overall burden to pay huge amounts of bills on healthcare services, led to an increased adoption post-pandemic. Moreover, the COVID-19 virus has a long-term impact on an individual’s health and can severely affect their well-being. Chronic diseases are also on the rise post-pandemic. These factors have highlighted the need for health insurance, not only for the older population but also for younger and fit individuals.China dominated the overall market due to the high coverage of population through the public schemes and higher premium value. India, on the other hand, is the fastest-growing region due to lucrative growth opportunities as a large portion of the population is still uninsured and many international companies are entering the market through FDIs.
Asia Pacific Family Floater Health Insurance Market Report Highlights
- The public segment dominated the market in 2022 owing to the introduction of a new public scheme to cover a larger portion of the population
- The private sector is expected to register the fastest growth rate from 2023 to 2030 due to the introduction of new products by private industry players
- A plan that covers immediate family members accounted for the highest revenue share in 2022 owing to a wide variety of products available in this segment
- The adults segment held the largest revenue share in 2022 due to the higher adoption of family floater health insurance policies among adults
- The agents sales channel segment accounted for the highest revenue share as maximum sales are achieved through agents
- A shift toward online sales like website and aggregators to purchase policies is leading to rapid growth of these segments
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Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.1.1. Type
1.1.2. Plan Type
1.1.3. Demographics
1.1.4. Country scope
1.1.5. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.3.5.1. Data for primary interviews in Asia Pacific
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Premium price
1.6.2. Country wise market estimation using bottom-up approach
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1
1.9.2. Objective 2
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Type Outlook
2.2.2. Plan Type Outlook
2.2.3. Demographic Outlook
2.2.4. Country Outlook
2.3. Competitive Insights
Chapter 3. Asia Pacific Family Floater Health Insurance Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Increasing prevalence of chronic diseases
3.4.1.2. Growing awareness regarding health insurance
3.4.1.3. Rising healthcare costs
3.4.2. Market restraint analysis
3.4.2.1. Limitation on different family floater policies
3.5. Asia Pacific Family Floater Health Insurance Market Analysis Tools
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier power
3.5.1.2. Buyer power
3.5.1.3. Substitution threat
3.5.1.4. Threat of new entrant
3.5.1.5. Competitive rivalry
3.5.2. PESTEL Analysis
3.5.2.1. Political landscape
3.5.2.2. Technological landscape
3.5.2.3. Economic landscape
3.5.3. Major Deals & Strategic Alliances Analysis
3.5.4. Market Entry Strategies
Chapter 4. Asia Pacific Family Floater Health Insurance: Type Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Public
4.1.2. Private
4.2. Type Market Share, 2022 & 2030
4.3. Segment Dashboard
4.4. Asia Pacific Asia Pacific Family Floater Health Insurance Market by Type Outlook
4.5. Market Type & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.5.1. Public
4.5.1.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
4.5.2. Private
4.5.2.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
4.5.2.2. Agents
4.5.2.2.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
4.5.2.3. Website
4.5.2.3.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
4.5.2.4. Aggregators
4.5.2.4.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
4.5.2.5. Bank
4.5.2.5.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
Chapter 5. Asia Pacific Family Floater Health Insurance: Plan Type Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Immediate Family Members
5.1.2. Extended Family Members
5.2. Plan Type Market Share, 2022 & 2030
5.3. Segment Dashboard
5.4. Asia Pacific Asia Pacific Family Floater Health Insurance Market by Plan Type Outlook
5.5. Market Plan Type & Forecasts and Trend Analyses, 2018 to 2030 for the following
5.5.1. Immediate Family Members
5.5.1.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
5.5.2. Extended Family Members
5.5.2.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
Chapter 6. Asia Pacific Family Floater Health Insurance: Demographics Estimates & Trend Analysis
6.1. Definitions and Scope
6.1.1. Adults
6.1.2. Seniors
6.2. Demographics Market Share, 2022 & 2030
6.3. Segment Dashboard
6.4. Asia Pacific Asia Pacific Family Floater Health Insurance Market by Demographics Outlook
6.5. Market Type & Forecasts and Trend Analyses, 2018 to 2030 for the following
6.5.1. Adults
6.5.1.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
6.5.2. Seniors
6.5.2.1. Market estimates and forecast, 2018 - 2030 (Revenue in USD Billion)
Chapter 7. Asia Pacific Family Floater Health Insurance Market: Country Estimates & Trend Analysis
7.1. Country market share analysis, 2022 & 2030
7.2. Country Market Dashboard
7.3. Asia Pacific Country Market Snapshot
7.4. Country Market Share and Leading Players, 2022
7.4.1. Asia Pacific
7.5. SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
7.5.1. Asia Pacific
7.6. Market Service, & Forecasts and Trend Analysis, 2018 to 2030
7.7. Asia Pacific
7.7.1. Japan
7.7.1.1. Market estimates and forecast, 2018 - 2030 (Revenue, USD Billion)
7.7.2. India
7.7.2.1. Market estimates and forecast, 2018 - 2030 (Revenue, USD Billion)
7.7.3. China
7.7.3.1. Market estimates and forecast, 2018 - 2030 (Revenue, USD Billion)
7.7.4. South Korea
7.7.4.1 Market estimates and forecast, 2018 - 2030 (Revenue, USD Billion)
7.7.5. Australia
7.7.5.1 Market estimates and forecast, 2018 - 2030 (Revenue, USD Billion)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company/Competition Categorization
8.2.1. Innovators
8.2.2. Market Leaders
8.2.3. Emerging Players
8.3. Vendor Landscape
8.3.1. List of key distributors and channel partners
8.3.2. Key customers
8.3.3. Key company market share analysis, 2022
8.3.4. Cigna
8.3.4.1. Company overview
8.3.4.2. Financial performance
8.3.4.3. Product benchmarking
8.3.4.4. Strategic initiatives
8.3.5. Bupa
8.3.5.1. Company overview
8.3.5.2. Financial performance
8.3.5.3. Product benchmarking
8.3.5.4. Strategic initiatives
8.3.6. Now Health International
8.3.6.1. Company overview
8.3.6.2. Financial performance
8.3.6.3. Product benchmarking
8.3.6.4. Strategic initiatives
8.3.7. Aetna, Inc.
8.3.7.1. Company overview
8.3.7.2. Financial performance
8.3.7.3. Product benchmarking
8.3.7.4. Strategic initiatives
8.3.8. HBF Health Limited
8.3.8.1. Company overview
8.3.8.2. Financial performance
8.3.8.3. Product benchmarking
8.3.8.4. Strategic initiatives
8.3.9. AXA
8.3.9.1. Company overview
8.3.9.2. Financial performance
8.3.9.3. Product benchmarking
8.3.9.4. Strategic initiatives
8.3.10. Allianz Care
8.3.10.1. Company overview
8.3.10.2. Financial performance
8.3.10.3. Product benchmarking
8.3.10.4. Strategic initiatives
8.3.11. Aviva
8.3.11.1. Company overview
8.3.11.2. Financial performance
8.3.11.3. Product benchmarking
8.3.11.4. Strategic initiatives
8.3.12. AIA Group Limited
8.3.12.1. Company overview
8.3.12.2. Financial performance
8.3.12.3. Product benchmarking
8.3.12.4. Strategic initiatives
8.3.13. Oracle Corporation
8.3.13.1. Company overview
8.3.13.2. Financial performance
8.3.13.3. Product benchmarking
8.3.13.4. Strategic initiatives
List of Tables
Table 1 List of Abbreviation
Table 2 APAC family floater health insurance market, by country, 2018 - 2030 (USD Billion)
Table 3 APAC family floater health insurance market, by type, 2018 - 2030 (USD Billion)
Table 4 APAC family floater health insurance market, by plan type, 2018 - 2030 (USD Billion)
Table 5 APAC family floater health insurance market, by demographics, 2018 - 2030 (USD Billion)
Table 6 Japan family floater health insurance market, by type, 2018 - 2030 (USD Billion)
Table 7 Japan family floater health insurance market, by plan type, 2018 - 2030 (USD Billion)
Table 8 Japan family floater health insurance market, by demographics, 2018 - 2030 (USD Billion)
Table 9 India family floater health insurance market, by type, 2018 - 2030 (USD Billion)
Table 10 India family floater health insurance market, by plan type, 2018 - 2030 (USD Billion)
Table 11 India family floater health insurance market, by demographics, 2018 - 2030 (USD Billion)
Table 12 China family floater health insurance market, by type, 2018 - 2030 (USD Billion)
Table 13 China family floater health insurance market, by plan type, 2018 - 2030 (USD Billion)
Table 14 China family floater health insurance market, by demographics, 2018 - 2030 (USD Billion)
Table 15 South Korea family floater health insurance market, by type, 2018 - 2030 (USD Billion)
Table 16 South Korea family floater health insurance market, by plan type, 2018 - 2030 (USD Billion)
Table 17 South Korea family floater health insurance market, by demographics, 2018 - 2030 (USD Billion)
Table 18 Thailand family floater health insurance market, by type, 2018 - 2030 (USD Billion)
Table 19 Thailand family floater health insurance market, by plan type, 2018 - 2030 (USD Billion)
Table 20 Thailand family floater health insurance market, by demographics, 2018 - 2030 (USD Billion)
Table 21 Australia family floater health insurance market, by type, 2018 - 2030 (USD Billion)
Table 22 Australia family floater health insurance market, by plan type, 2018 - 2030 (USD Billion)
Table 23 Australia family floater health insurance market, by demographics, 2018 - 2030 (USD Billion)
List of Figures
Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Primary interviews in APAC
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market formulation & validation
Fig. 9 Asia Pacific family floater health insurance: market outlook
Fig. 10 Asia Pacific family floater health insurance market competitive insights
Fig. 11 Parent market outlook
Fig. 12 Related/ancillary market outlook
Fig. 13 Penetration and growth prospect mapping
Fig. 14 Industry value chain analysis
Fig. 15 Asia Pacific family floater health insurance market driver impact
Fig. 16 Asia Pacific family floater health insurance market restraint impact
Fig. 17 Asia Pacific family floater health insurance market strategic initiatives analysis
Fig. 18 Asia Pacific family floater health insurance market: type movement analysis
Fig. 19 Asia Pacific family floater health insurance market: type outlook and key takeaways
Fig. 20 Public family floater health insurance estimates and forecast, 2018 - 2030
Fig. 21 Private family floater health insurance estimates and forecast, 2018 - 2030
Fig. 22 Agents estimates and forecast, 2018 - 2030
Fig. 23 Website estimates and forecast, 2018 - 2030
Fig. 24 Aggregators estimates and forecast, 2018 - 2030
Fig. 25 Bank estimates and forecast, 2018 - 2030
Fig. 26 Asia Pacific family floater health insurance market: plan type movement analysis
Fig. 27 Asia Pacific family floater health insurance market: plan type outlook and key takeaways
Fig. 28 Immediate family members estimates and forecast, 2018 - 2030
Fig. 29 Extended family members estimates and forecast, 2018 - 2030
Fig. 30 Asia Pacific family floater health insurance market: demographics movement analysis
Fig. 31 Asia Pacific family floater health insurance market: demographics outlook and key takeaways
Fig. 32 Adults estimates and forecast, 2018 - 2030
Fig. 33 Seniors estimates and forecast, 2018 - 2030
Fig. 34 Asia Pacific family floater health insurance market: country movement analysis
Fig. 35 Asia Pacific family floater health insurance market: country outlook and key takeaways
Fig. 36 Asia Pacific market share and leading players
Fig. 37 Asia Pacific SWOT
Fig. 38 Asia Pacific
Fig. 39 Asia Pacific market estimates and forecast, 2018 - 2030
Fig. 40 India
Fig. 41 India market estimates and forecast, 2018 - 2030
Fig. 42 China
Fig. 43 China market estimates and forecast, 2018 - 2030
Fig. 44 Japan
Fig. 45 Japan market estimates and forecast, 2018 - 2030
Fig. 46 South Korea
Fig. 47 South Korea market estimates and forecast, 2018 - 2030
Fig. 48 Australia
Fig. 49 Australia market estimates and forecast, 2018 - 2030
Fig. 50 Participant categorization - Asia Pacific family floater health insurance market
Fig. 51 Market share of key market players - Asia Pacific family floater health insurance market
Companies Mentioned
- Cigna
- Bupa
- Now Health International
- Aetna, Inc.
- HBF Health Limited
- AXA
- Allianz Care
- Aviva
- AIA Group Limited
- Oracle Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | March 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 5.64 trillion |
| Forecasted Market Value ( USD | $ 8.58 trillion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 10 |
