UAE Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The UAE health insurance market reached a value of US$ 7.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 11.1 Billion by 2027, exhibiting a CAGR of 7.5% during 2022-2027. 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 on different end use sectors. 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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the UAE health insurance market, along with forecasts at the period 2022-2027. Our report has categorized the market based on type and service provider.
Breakup by Type:
Breakup by Service Provider:
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
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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