The Hospitalization Insurance Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hospitalization Insurance Global Market Report 2024, The hospitalization insurance market size has grown rapidly in recent years. It will grow from $117.03 billion in 2023 to $134 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to healthcare costs, access to healthcare, regulatory compliance, employer benefits, healthcare facilities.
The hospitalization insurance market size is expected to see rapidly grown in the next few years. It will grow to $199.92 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to evolving healthcare models, personal health and wellness, aging population, data and technology. Major trends in the forecast period include telemedicine inclusion, ai and data analytics, healthcare technology integration, innovative partnerships.
The growing adoption of health insurance policies by individuals during COVID-19 is expected to fuel the growth of the hospitalization insurance market over the forecast period. The demand for health insurance policies has seen a massive spike during the coronavirus pandemic. The rise in the number of COVID-19 positive cases has made individuals more conscious of the value of buying health insurance. For instance, in December 2021, according to a report published by The Centers for Medicare & Medicaid Services (CMS), a US-based government agency, the medicaid/children’s health insurance program (CHIP) enrollment snapshot of June 2021 indicates that over an estimated 83 million individuals currently have access to extensive and life-saving coverage through Medicaid and CHIP. This marks an uptick of 433,963 individuals when compared to the data from May 2021. Therefore, the growing adoption of health insurance policies during COVID-19 contributes to the growth of the hospitalization insurance market.
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The hospitalization insurance market covered in this report is segmented –
1) By Service Provider: Private, Public
2) By Network: Preferred Provider Organizations (PPOs), Point Of Service (POS), Health Maintenance Organizations (HMOs), Exclusive Provider Organizations (EPOs), Other Networks
3) By Demographics: Minors, Adults, Senior Citizens
Top Major Players
Aetna Inc.
Anthem Insurance Companies Inc.
Blue Cross Blue Shield Association
Cigna Grou
Humana Inc.
Major companies operating in the hydroxychloroquine market are investing in the development of hydrochloroquine to meet the growing demand for hydroxychloroquine and expand their product portfolios. For instance, in March 2021, Aspen Pharmaceutical Corporation, a South African-based pharmaceutical company, received $20 billion from BNDES (Brazilian Development Bank), a Brazil-based banking company, in connection with its hydroxychloroquine manufacturing. This loan was part of a larger $153 million investment that Aspen was making in its hydroxychloroquine manufacturing operations in Brazil. An investment was made in response to the growing demand for hydroxychloroquine during the COVID-19 pandemic. Aspen’s investment in hydroxychloroquine manufacturing was seen as a positive step by the Brazilian government, as it would help to ensure that the country had a sufficient supply of the drug to meet the needs of its population.
The hospitalization insurance market report table of contents includes:
1. Executive Summary
2. Hospitalization Insurance Market Characteristics
3. Hospitalization Insurance Market Trends And Strategies
4. Hospitalization Insurance Market – Macro Economic Scenario
5. Global Hospitalization Insurance Market Size and Growth
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31. Global Hospitalization Insurance Market Competitive Benchmarking
32. Global Hospitalization Insurance Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hospitalization Insurance Market
34. Hospitalization Insurance Market Future Outlook and Potential Analysis
35. Appendix
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