Summary

Market Overview:
North America health insurance market reached US$ 1621.35 billion in 2023 and is projected to reach US$ 2408.49 billion by 2031, growing with a CAGR of 5.2% from 2024 to 2031.
Health insurance is a financial tool that protects against medical bills. A health insurance policy is a contract between an insurance company and a person. In exchange for paying a premium, the individual receives financial protection against healthcare bills from the insurer.
Health insurance covers a wide range of medical expenses, including the cost of medications, surgery, doctor consultations, lodging rental, ambulance fees, and more.
Market Dynamics
Increasing Cases of Chronic Diseases Across the World are Driving the Demand for Health Insurance
The rising incidence of diseases such as cancer, dengue fever, and other ailments will drive market expansion. The global increase in cancer cases, including breast cancer, prostate cancer, and lung cancer, is expected to fuel market growth. Cancer is a leading cause of death worldwide, responsible for approximately 10 million fatalities in an year, or nearly one in every six deaths, according to WHO. The most prevalent cancers include breast, lung, colon, rectum, and prostate cancers.
Tobacco use, high BMI, alcohol consumption, a lack of fruits and vegetables in the diet, and insufficient physical activity account for almost one-third of cancer fatalities. Cancer-causing infections including human papillomavirus (HPV) and hepatitis account for over 30% of cancer cases in low- and lower-middle-income countries. The increasing number of cancer cases is expected to drive market growth.
As people get older, the prevalence of chronic health conditions rises, emphasizing the importance of continuing and comprehensive healthcare access. The prevalence of chronic health conditions rises significantly starting in mid-life. In the United States, half of adults aged 55–64 have high cholesterol and/or hypertension. Notably, the top five leading causes of death among older adults (≥65) are preventable chronic diseases that develop earlier in life. Accurate and timely diagnosis is critical to ensure adequate treatment and management of chronic diseases.
Rise Of Digital Health and Telemedicine
The COVID-19 pandemic has accelerated the adoption of digital health technologies such as telemedicine and teleconsultation, remote monitoring, connected devices, digital health platforms, and health applications. This broad concept also includes the analysis and use of health data using big data-driven platforms, such as epidemiological research and AI-powered diagnostic support.
Digital technologies have been critical in battling the pandemic, allowing for online medical consultations from home and improving diagnostic and treatment efficiency via telemedicine, a new experience for many, similar to teleworking and online schooling.
Prior to the pandemic, artificial intelligence (AI) solutions were already being employed to assist healthcare systems in managing rising demand with constrained resources. These technologies have been critical in advanced data analytics, enabling scientific research, tailored medicine, early disease detection, and more effective therapies. Notably, AI and machine learning are actively advancing fields such as radiology and cancer screening.
Market Segment Analysis
The North America health insurance Market is segmented based on Provider, Coverage, Plan, and Distribution Channel.
Public
Public health insurance is intended to give coverage to people who cannot afford private health insurance or meet the government's eligibility requirements. Public health insurance offers qualifying persons a wide range of coverage that is appropriate for almost every stage of life.
For example, the Affordable Care Act (ACA), popularly known as "ObamaCare", was passed in 2010 and includes rules that specify how coverage is extended to those who satisfy certain conditions. The Affordable Care Act transformed the workplace. This law made health insurance more affordable for full-time employees by mandating firms with 50 or more employees to cover 95% of their full-time employees.
In India, the Ministry of Health and Family Welfare, Government of India, provides a national health insurance system called as Ayushman Bharat. PMJAY was intended to provide free healthcare services to more than 40% of the country's population. The policy provides Rs 5 lakh in health insurance coverage. This plan covers medicine, diagnostic fees, medical care, and pre-hospitalization expenses. This healthcare effort benefits India's poorest families. This is one of several public health insurance schemes regulated for the benefit of the general public.
Market Segmentation
By Provider
Public
Private
By Coverage
Diseases Insurance
Health Insurance
By Plan Type
Individual Health Insurance
Family Floater Health Insurance
Senior Citizens’ Health Insurance
Critical Illness Insurance
Group Health Insurance
By Distribution Channel
Individual agents
Corporate agents
Direct Marketing
Others
By Region
North America
U.S.
Canada
Mexico
Major Key players
Aetna Inc. (CVS Health Corporation).*
AIA Group Limited
Allianz SE
Aviva Plc
Berkshire Hathaway Inc.
Cigna Corporation
International Medical Group Inc
Prudential Plc
United Health Group Inc.
Zurich Insurance Group AG.
Why Purchase the Report?
To visualize the North America Health insurance Market segmentation based on coverage, provider, plan type, distribution channel and Country, as well as understand key commercial assets and players.
Identify commercial opportunities by analyzing trends and co-development.
Excel data sheet with numerous data points of North america health insurance market level with all segments.
PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
Product mapping available as Excel consisting of key products of all the major players.
The health insurance market report would provide approximately 53 tables, 54 figures and 195 Pages.
Target Audience 2024
Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

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Table of Contents

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Provider
3.2. Snippet by Coverage
3.3. Snippet by Plan Type
3.4. Snippet by Distribution Channel
3.5. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Increasing the cost of medical services
4.1.1.2. Increasing chronic disease cases across the world
4.1.2. Restraints
4.1.2.1. The high cost of premium policies
4.1.3. Opportunity
4.1.3.1. With the rise of digital health and telemedicine
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter’s 5 Forces Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID-19
6.1.2. Scenario During COVID-19
6.1.3. Scenario Post COVID-19
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During the Pandemic
6.5. Manufacturers’ Strategic Initiatives
6.6. Conclusion
7. By Provider
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Provider
7.1.2. Market Attractiveness Index, By Provider
7.2. Public *
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Private
8. By Coverage
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Coverage
8.1.2. Market Attractiveness Index, By Coverage
8.2. Disease Insurance *
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Health Insurance
9. By Plan Type
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Plan Type
9.1.2. Market Attractiveness Index, By Plan Type
9.2. Individual Health Insurance *
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Family Floater Health Insurance
9.4. Senior Citizens Health Insurance
9.5. Critical Illness Insurance
9.6. Group Health Insurance
10. By Distribution Channel
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
10.1.2. Market Attractiveness Index, By Distribution Channel
10.2. Individual agents *
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Corporate agents
10.4. Direct Marketing
10.5. Others
11. By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Provider
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Coverage
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Plan Type
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. The U.S.
11.2.7.2. Canada
11.2.7.3. Mexico
12. Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Company Profiles
13.1. Aetna Inc. (CVS Health Corporation).*
13.1.1. Company Overview
13.1.2. ProductPortfolio and Description
13.1.3. Financial Overview
13.1.4. Key Developments
13.2. AIA Group Limited
13.3. Allianz SE
13.4. Aviva Plc
13.5. Berkshire Hathaway Inc.
13.6. Cigna Corporation
13.7. International Medical Group Inc
13.8. Prudential Plc
13.9. United Health Group Inc.
13.10. Zurich Insurance Group AG.(*LIST NOT EXHAUSTIVE)
14. Appendix
14.1. About Us and Services
14.2. Contact Us