Summary

The UAE health insurance market reached a value of US$ 6.6 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

The UAE has a wide-ranging, government-funded and rapidly evolving private healthcare sector delivering high standard of health care to the population. The health insurance policies are an integral part of the healthcare infrastructure as they cover the cost associated with medical and surgical expenses of the policyholders. The costs incurred during the treatment of the patient are either fully paid by the insurance company in advance or indirectly through reimbursement, depending upon pre-decided terms and conditions. An effective health insurance plan includes services such as diagnosis and treatment for illnesses and conditions, psychiatric care, rehabilitation, therapy, emergency transportation, in-patient management, maternity, dental care, etc. AXA Gulf Insurance, Abu Dhabi National Insurance Company (ADNIC), Emirates Insurance Company, Oman Insurance Company, etc. are among the key health insurance providers in the UAE.

With a population of around 9.6 million, the UAE is among the GCC region’s fastest growing economy. Moreover, the government is also playing a major role in increasing the penetration of health insurance in the region. In Abu Dhabi and Dubai, the government provides health insurance for all its citizens. Similarly, the government of Ajman provides all its employees with health insurance. Additionally, both Abu Dhabi and Dubai also mandate employers to provide health insurance coverage to their employees. Moreover, due to the country’s increasing economic diversification and continued inward migration, the per capita expenditure on health care services have increased. Other factors such as increasing occurrences of lifestyle diseases and rising costs of medical treatments are also driving the market positively.

IMARC Group’s latest report provides a deep insight into the UAE health insurance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the UAE health insurance market in any manner.

Report Coverage:

Historical, Current and Future Market Trends

Market Breakup by Type:
Individual
Group

Market Breakup by Service Provider:
Public
Private

Value Chain Analysis

Key Drivers and Challenges

Porters Five Forces Analysis

PESTEL Analysis

Government Regulations

Competitive Landscape
Competitive Structure
Key Player Profiles

Key Questions Answered in This Report:

How has the UAE health insurance market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the UAE health insurance market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the service provider?
What are the various stages in the value chain of the UAE health insurance industry?
What are the key driving factors and challenges in the UAE health insurance industry?
What is the structure of the UAE health insurance industry and who are the key players?
What is the degree of competition in the UAE health insurance industry?
What are the profit margins in the UAE health insurance industry?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 UAE Health Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Service Provider
5.6 Market Forecast
5.7 SWOT Analysis
5.7.1 Overview
5.7.2 Strengths
5.7.3 Weaknesses
5.7.4 Opportunities
5.7.5 Threats
5.8 Value Chain Analysis
5.9 Porters Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
5.10 PESTEL Analysis
5.10.1 Political
5.10.2 Economic
5.10.3 Social
5.10.4 Legal
5.10.5 Environmental
5.10.6 Technological
5.11 Price Analysis
6 Market Breakup by Type
6.1 Individual
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Group
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Service Provider
7.1 Public
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Private
7.2.1 Market Trends
7.2.2 Market Forecast
8 Government Regulations
9 Strategic Recommendations
10 Competitive Landscape
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players

List of Figures

Figure 1: UAE: Health Insurance Market: Major Drivers and Challenges
Figure 2: UAE: Health Insurance Market: Sales Value (in Billion US$), 2015-2020
Figure 3: UAE: Health Insurance Market: Breakup by Type (in %), 2020
Figure 4: UAE: Health Insurance Market: Breakup by Service Provider (in %), 2020
Figure 5: UAE: Health Insurance Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 6: UAE: Health Insurance Industry: SWOT Analysis
Figure 7: UAE: Health Insurance Industry: Value Chain Analysis
Figure 8: UAE: Health Insurance Industry: Porter’s Five Forces Analysis
Figure 9: UAE: Health Insurance Industry: PESTEL Analysis
Figure 10: UAE: Health Insurance (Individual) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: UAE: Health Insurance (Individual) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: UAE: Health Insurance (Group) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: UAE: Health Insurance (Group) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: UAE: Health Insurance (Public) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: UAE: Health Insurance (Public) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: UAE: Health Insurance (Private) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: UAE: Health Insurance (Private) Market Forecast: Sales Value (in Million US$), 2021-2026

List of Tables

Table 1: UAE: Health Insurance Market: Key Industry Highlights, 2020 and 2026
Table 2: UAE: Health Insurance Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: UAE: Health Insurance Market Forecast: Breakup by Service Provider (in Million US$), 2021-2026
Table 4: UAE: Health Insurance Market Structure
Table 5: UAE: Health Insurance Market: Key Players