The forecast for the premium of private health insurance in India shows consistent growth from 2024 to 2028. The premium is expected to increase from 64.81 billion Indian Rupees in 2024 to 70.27 billion Indian Rupees in 2028. When comparing the year-on-year variations, the growth rates are projected at approximately 2.16% from 2024 to 2025, 2.08% from 2025 to 2026, 2.01% from 2026 to 2027, and 1.91% from 2027 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is anticipated to be around 2.04%, indicating a steady but modest upward trend in premiums.
Future trends to watch for:
- The impact of regulatory changes on premium pricing.
- The potential influence of healthcare cost inflation on insurance rates.
- Technological advancements and their role in enhancing insurance services.
- Shifts in consumer preferences towards health and wellness programs.