1. Market Research
  2. > Financial Services
  3. > Insurance
  4. > Health Insurance Market Trends
India Health Insurance Market By Type of Insurance Provider, By Insurance Type, By Type of Scheme, By Type of Coverage, By Term of Coverage, By Cash Limit, By Mode of Purchase, By End User, By Region, Forecast & Opportunities, 2025

India Health Insurance Market By Type of Insurance Provider, By Insurance Type, By Type of Scheme, By Type of Coverage, By Term of Coverage, By Cash Limit, By Mode of Purchase, By End User, By Region, Forecast & Opportunities, 2025

  • May 2020
  • 78 pages
  • ID: 5916916
  • Format: PDF
  • TechSci Research

Summary

Table of Contents

This report is 80% complete and can be delivered within three working days post order confirmation and will include the latest impact analysis of Covid-19 in 2020 and forecast.

India Health Insurance Market By Type of Insurance Provider (Public, Private, Others), By Insurance Type (Disease, Medical, Income Protection), By Type of Scheme (Voluntary, Mandatory, Others), By Type of Coverage (Individual, Family), By Term of Coverage (Term, Lifetime), By Cash Limit (Up to 2 Lakh, 2.1-3 Lakh, Others), By Mode of Purchase (Online Portal, Insurance Agent, Others), By End User (Minors, Adults, Senior Citizens), By Region, Forecast & Opportunities, 2025

India health insurance market is anticipated to register significant CAGR during the forecast period owing to factors such as rising number of middle-class populations in the country, growing awareness about benefits offered by an insurance plan, government initiatives and growing expenditure on healthcare.The insurance sector in India is regulated by the Insurance Regulatory and Development Authority of India (IRDAI).

The introduction of heath insurance schemes by Indian government which includes personal accident (PA) schemes like Pradhan Mantri Suraksha Bima Yojana (PMSBY), PA cover from Indian Railway Catering and Tourism Corp (IRCTC) and so on, has resulted in increased penetration and demand for health insurance in India.

Health insurance is a type of insurance coverage that pays for medical, surgical, and sometimes dental expenses of the insurance holder.It protects the insurance holder from unexpected, high medical costs.

Health insurance usually requires the covered policyholder to bear a portion of the risk by paying initial medical costs up to an agreed-upon amount before the health insurance is liable for payment. This amount is known as a deductible.
Health insurance market is a booming sector in India and with the rising number of people suffering from chronic dieses, increasing number of road accidents and encouragement from both public and private sector companies, the market for health insurance in India is expected to witness robust growth over the course of next five years.

The India health insurance market is segmented based on type of insurance provider, insurance type, type of scheme, type of coverage, term of coverage, cash limit, mode of purchase, end user, region and company.Based on type of insurance provider, the market is segmented into public, private and standalone health insurers.

The private sector constitutes more than half of the health insurance share in the market.The reason behind this is that most of the private providers provide quick and flexible treatments and cover a wide number of private hospitals and clinics.

Indians too, tend to go for private insurance providers because of their fast and convenient service. Lately, with the arrival of private and standalone health insurance companies, the Indian health insurance market has witnessed tremendous innovations in the policies offered.

Major players operating in the India health insurance market include Life Insurance Corp of India, Apollo Munich Health Insurance Company Limited, Max Life Insurance Company Limited, HDFC Standard Life Insurance Co. Ltd., Aditya Birla SunLife Insurance Co. Ltd., SBI Life Insurance Co. Ltd. , ICICI Prudential Life Insurance Co. Ltd., TATA-AIG General Insurance Company Limited, United India Insurance Company Limited, National Insurance Company Limited, Bajaj Allianz General Insurance Religare , Health Insurance Company Limited, Bharti Axa General Insurance Company Ltd., Star Health and Allied Insurance Co Ltd, Iffco Tokio General Insurance Ltd, Manipal Cigna Health Insurance Limited and others.
The insurance providers are now focusing on providing specialized health policies and rural masses for establishing their dominance in the market.

Years considered for this report:

Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025

Objective of the Study:

• To analyze and forecast the market size of India health insurance market.
• To classify and forecast India health insurance market based on type of insurance provider, insurance type, type of scheme, type of coverage, term of coverage, cash limit, mode of purchase, end user and regional distribution.
• To identify drivers and challenges for India health insurance market.
• To examine competitive developments such as expansions, new product launches in India health insurance market.
• To conduct pricing analysis for India health insurance market.
• To identify and analyze the profile of leading players operating in India health insurance market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of insurance providers across the country.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the insurance providers which could not be identified due to the limitations of secondary research. The analyst examined the insurance providers, and presence of all major players across the country.
The analyst calculated the market size of India health insurance market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

• Health insurance providers, vendors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to health insurance
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as insurance providers, vendors, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India health insurance market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Type of Insurance Provider:
o Public
o Private
o Standalone Health Insurers
• Market, By Insurance Type:
o Disease
o Medical
o Income Protection
• Market, By Type of Scheme:
o Voluntary
o Mandatory
o Community-based
o Employer based
• Market, By Type of Coverage:
o Individual
o Family
• Market, By Term of Coverage:
o Term
o Lifetime
• Market, By Cash Limit:
o Up to 2 Lakh
o 2.1-3 Lakh
o 3.1-5 Lakh
o 5.1-10 Lakh
o Above 10 Lakh
• Market, By Mode of Purchase:
o Direct Company Representatives
o Online Portal
o Insurance Agent
• Market, By End Users:
o Minors
o Adults
o Senior Citizens
• Market, By Region:
o North
o South
o East
o West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India health insurance market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on