Critical Illness Insurance Market by Application (Cancer, Heart Attack, Stroke, Others), by Premium Mode (Monthly, Quarterly, Half Yearly, Yearly), by End User (Individual, Businesses): Global Opportunity Analysis and Industry Forecast, 2021-2031
According to the report published by Allied Market Research, the global critical illness insurance market generated $124.7 billion in 2021, and is estimated to reach $354 billion by 2031, witnessing a CAGR of 11.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.
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The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Leading players:
The report analyzes the profiles of key players operating in the critical illness insurance market such as Aegon, AFLAC INCORPORATED, Allianz Care, American International Group, Inc., Aviva, AXA Hong Kong, Bajaj Allianz General Insurance Co. Ltd., Cigna, Future Generali India Insurance Company Ltd., Legal & General Group plc, Liberty Mutual Insurance, MetLife Services and Solutions, LLC., Royal London, Sun Life Assurance Company of Canada, United HealthCare Services, Inc., Modern Insurance Agency, Inc., and Plum Benefits Private Limited.
he rising incidence of chronic diseases due to unhealthy lifestyle choices is leading to an increased demand for critical illness insurance coverage among consumers. Critical illness insurance provides financial support to individuals in the event of a serious illness or medical condition such as cancer, heart attack, or kidney failure, which can be expensive to treat.
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Many consumers are now aware of the benefits of having critical illness insurance coverage, which provides them with peace of mind and financial security in the event of a serious illness. The cost of medical treatment without insurance coverage can be prohibitive, and critical illness insurance helps to cover these costs and prevent individuals from incurring large medical bills.
As a result, the critical illness insurance market is growing rapidly, as more and more consumers recognize the importance of having this type of coverage. Many insurance companies are now offering critical illness insurance policies with a wide range of coverage options to meet the needs of different consumers.
Segment review
The critical illness insurance market is segmented on the basis of application, premium mode, end user, and region. By application, it is segmented into cancer, heart attack, stroke, and others. By premium mode, it is bifurcated into monthly, quarterly, half yearly, and yearly.
Based on application, the critical illness insurance market is bifurcated into individual, and businesses. The businesses segment is further sub segmented into group policies and individual policies. The group policies segment is further divided into simplified issue policies, and fully underwritten policies. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key benefits for stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the critical illness insurance market forecast analysis from 2021 to 2031 to identify the prevailing critical illness insurance market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the critical illness insurance market size segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global critical illness insurance market trends, key players, market segments, application areas, and market growth strategies.
Critical Illness Insurance Market Report Highlights
| Aspects | Details |
|---|---|
| Market Size By 2031 | USD 354 billion |
| Growth Rate | CAGR of 11.2% |
| Forecast period | 2021 – 2031 |
| Report Pages | 345 |
| Application | OthersCancerHeart AttackStroke |
| Premium Mode | MonthlyQuarterlyHalf YearlyYearly |
| End User | IndividualBusinesses |
| By Region | North America (U.S., Canada)Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest Of Europe)Asia-Pacific (China, India, Japan, Australia, Singapore, Rest Of Asia-Pacific)LAMEA (Latin America, Middle East, Africa) |
| Key Market Players | Aegon, AFLAC INCORPORATED, Allianz Care, American International Group, Inc., Aviva, AXA, Bajaj Allianz General Insurance Co. Ltd., Cigna, Future Generali India Insurance Company Ltd., Legal & General Group plc, Liberty Mutual Insurance, MetLife Services and Solutions, LLC., Royal London, Sun Life Assurance Company of Canada, United HealthCare Services, Inc., Modern Insurance Agency, Inc., Plum Benefits Private Limited |
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