Market Overview:
The global commercial medical insurance market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of chronic diseases, rising healthcare costs, and growing demand for medical insurance products. The global commercial medical insurance market can be segmented on the basis of type into individual and family commercial medical insurance products and group commercial medical insurance products. On the basis of application, the market can be divided into comprehensive plan, treatment and care, and others. Geographically, the global commercial medical insurance market can be segmented into North America, Latin America, Europe Asia Pacific ,and Middle East & Africa .
Product Definition:
Commercial medical insurance is a type of health insurance that is offered to businesses. It covers the cost of medical expenses for employees and their families. Commercial medical insurance is important because it helps businesses maintain a healthy workforce and keep their costs down.
Individual and Family Commercial Medical Insurance Products:
Commercial medical insurance is a form of third-party insurance that provides coverage for healthcare services and facilities. The key difference between the two types of plans, namely group and individual plans, is that in the latter one person's health is not pooled with the whole group’s risk but rather each member has an individual policy with own risks and benefits.
Group Commercial Medical Insurance Products:
Group commercial medical insurance products.
Commercial group medical insurance is a type of employee benefit plan that provides health coverage to groups of employees (and their families) through one policy. The key features that set this type of plan apart from an individual policy include its ability to offer more comprehensive benefits at lower costs, and its provision for an employer contribution toward the cost of coverage.
Application Insights:
Treatment and care segment held the largest market share in 2017. This is attributed to growing prevalence of chronic diseases, which require ongoing medical management such as diabetes, hypertension and cardiac disorders. Treatment and care segment also includes hospitalization component as well as other services such as laboratory tests, diagnostic imaging etc., which are used for delivering high-quality healthcare to patients.
The comprehensive plan is majorly used by individuals while the others application includes accident/health plans, disability income insurance etc. The others application has a lower penetration compared with comprehensive plan however; it is expected to grow at a faster rate during the forecast period due to increasing awareness about benefits offered under various types of plans among consumers globally. Increasing incidences of accidents & health issues among all age groups across the globe has led many companies including Aetna Inc., Cigna Corporation et al., offering various types of disability income insurance policies worldwide since past few years especially in U.S.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing awareness about commercial medical insurance, improving economic conditions, and a large population base in this region. In addition, favorable government initiatives are also anticipated to propel market growth during the forecast period. For instance, in India under section 12 of The General Insurance Act (1946), all non-life insurers are required to offer medical coverage on par with that offered by life insurers for their employees and their families up until 2017 under section 5(1) of The Life Assurance Corporation Act (1930). This act was introduced for ensuring better healthcare facilities for employees as well as their families at an economical cost by separating health from life assurance business model followed earlier.
Growth Factors:
- Increasing demand for preventive healthcare services: The commercial medical insurance market is expected to grow at a rapid pace in the coming years owing to the increasing demand for preventive healthcare services. This is because preventive healthcare helps individuals stay healthy and avoid diseases, which in turn reduces overall health care costs.
- Rising prevalence of chronic diseases: The prevalence of chronic diseases such as cancer, heart disease, and diabetes is on the rise globally, which is driving the growth of the commercial medical insurance market. These diseases are expensive to treat and often require long-term treatment plans, making it necessary for people to have health insurance coverage.
- Growing awareness about health insurance benefits: There has been a growing awareness about the benefits of having health insurance among people across different geographies in recent years. This has led more people to purchase commercial medical insurance policies that offer them comprehensive coverage against various types of illnesses and injuries.
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Medical Insurance Market Research Report
By Type
Individual and Family Commercial Medical Insurance Products, Group Commercial Medical Insurance Products
By Application
Comprehensive Plan, Treatment and Care, Others
By Companies
Anthem, UnitedHealth Group, DKV, BUPA, Chinalife, Aetna, PICC, PingAn, Star Health & Allied Insurance, Cigna, Essential Med, Kunlun
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
132
Number of Tables & Figures
93
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Medical Insurance Market Report Segments:
The global Commercial Medical Insurance market is segmented on the basis of:
Types
Individual and Family Commercial Medical Insurance Products, Group Commercial Medical Insurance Products
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Comprehensive Plan, Treatment and Care, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Anthem
- UnitedHealth Group
- DKV
- BUPA
- Chinalife
- Aetna
- PICC
- PingAn
- Star Health & Allied Insurance
- Cigna
- Essential Med
- Kunlun
Highlights of The Commercial Medical Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Individual and Family Commercial Medical Insurance Products
- Group Commercial Medical Insurance Products
- By Application:
- Comprehensive Plan
- Treatment and Care
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Medical Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial medical insurance is a type of insurance that provides coverage for medical expenses not covered by government-provided health care programs. Commercial medical insurance can be purchased from private insurers, or it may be provided through an employer.
Some of the key players operating in the commercial medical insurance market are Anthem, UnitedHealth Group, DKV, BUPA, Chinalife, Aetna, PICC, PingAn, Star Health & Allied Insurance, Cigna, Essential Med, Kunlun.
The commercial medical insurance market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Medical Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Medical Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Medical Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Medical Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Medical Insurance Market Size & Forecast, 2018-2028
4.5.1 Commercial Medical Insurance Market Size and Y-o-Y Growth
4.5.2 Commercial Medical Insurance Market Absolute $ Opportunity
Chapter 5 Global Commercial Medical Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Commercial Medical Insurance Market Size Forecast by Type
5.2.1 Individual and Family Commercial Medical Insurance Products
5.2.2 Group Commercial Medical Insurance Products
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Commercial Medical Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Commercial Medical Insurance Market Size Forecast by Applications
6.2.1 Comprehensive Plan
6.2.2 Treatment and Care
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Medical Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Medical Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Commercial Medical Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Commercial Medical Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Commercial Medical Insurance Market Size Forecast by Type
9.6.1 Individual and Family Commercial Medical Insurance Products
9.6.2 Group Commercial Medical Insurance Products
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Commercial Medical Insurance Market Size Forecast by Applications
9.10.1 Comprehensive Plan
9.10.2 Treatment and Care
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Commercial Medical Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Commercial Medical Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Commercial Medical Insurance Market Size Forecast by Type
10.6.1 Individual and Family Commercial Medical Insurance Products
10.6.2 Group Commercial Medical Insurance Products
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Commercial Medical Insurance Market Size Forecast by Applications
10.10.1 Comprehensive Plan
10.10.2 Treatment and Care
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Commercial Medical Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Commercial Medical Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Commercial Medical Insurance Market Size Forecast by Type
11.6.1 Individual and Family Commercial Medical Insurance Products
11.6.2 Group Commercial Medical Insurance Products
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Commercial Medical Insurance Market Size Forecast by Applications
11.10.1 Comprehensive Plan
11.10.2 Treatment and Care
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Commercial Medical Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Commercial Medical Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Commercial Medical Insurance Market Size Forecast by Type
12.6.1 Individual and Family Commercial Medical Insurance Products
12.6.2 Group Commercial Medical Insurance Products
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Commercial Medical Insurance Market Size Forecast by Applications
12.10.1 Comprehensive Plan
12.10.2 Treatment and Care
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Commercial Medical Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Commercial Medical Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Commercial Medical Insurance Market Size Forecast by Type
13.6.1 Individual and Family Commercial Medical Insurance Products
13.6.2 Group Commercial Medical Insurance Products
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Commercial Medical Insurance Market Size Forecast by Applications
13.10.1 Comprehensive Plan
13.10.2 Treatment and Care
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Medical Insurance Market: Competitive Dashboard
14.2 Global Commercial Medical Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Anthem
14.3.2 UnitedHealth Group
14.3.3 DKV
14.3.4 BUPA
14.3.5 Chinalife
14.3.6 Aetna
14.3.7 PICC
14.3.8 PingAn
14.3.9 Star Health & Allied Insurance
14.3.10 Cigna
14.3.11 Essential Med
14.3.12 Kunlun
