PRESS RELEASE
Published October 4, 2023
According to the latest report by IMARC Group, titled “UAE Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the UAE health insurance market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the UAE health insurance market?
The UAE health insurance market size reached US$ 7.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.32% during 2023-2028.
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What is health insurance?
Health insurance or medical insurance refers to a form of a legal agreement between an insurance company and a policyholder under which the company agrees to pay the client or policyholder for all medical expenses incurred by her or him. The insurance company reimburse the amount either as per the bills or with help of cashless process. An individual can avail their insurance policy against monthly or annual premium payments, for a specified tenure.
What are the growth prospects and trends in the UAE health insurance industry?
The rapidly growing population and economy of the country are aiding the demand for health insurance across the UAE. In addition to this, government initiatives are further boosting the penetration of health insurance in the UAE. For instance, the government provides full medical coverage for all UAE nationals and mandates employers to provide health insurance for all employees. Apart from this, the rising awareness regarding the increasing offerings of advanced healthcare policies is expected to contribute to the growth of the market. Other factors, such as the increasing prevalence of various lifestyle diseases, escalating incidences of chronic diseases, and the rising costs of medical treatments, along with significant budget allocation on healthcare by the government are driving the market growth further across the country.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
Breakup by Service Provider:
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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