Financial Services

Global Critical Illness Market Overview And Prospects

December 9, 2021 by The Business Research Company

Learn about the global critical illness market through The Business Research Company, which provides information on critical illness market size, critical illness market drivers and restraints, critical illness market players, the COVID-19 impact on the critical illness market, and more.

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The global critical illness insurance market is expected to grow from $119.41 billion in 2020 to $120.9 billion in 2021 at a compound annual growth rate (CAGR) of 1.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The critical illness insurance market is expected to reach $201.1 billion in 2025 at a CAGR of 13.6%.

The increased prevalence of critical diseases is expected to drive innovation in critical illness, thus driving the market during the forecast period.

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The critical illness insurance market consists of sales of critical illness insurance by entities (organizations, sole traders, and partnerships) that are engaged in directly underwriting critical illness cover or a dread disease policy, which is an additional insurance coverage to cover those overruns where traditional health insurance may fall short. Only goods and services traded between entities or sold to end consumers are included.

Global critical illness market segments include:

By Type: Individual Insurance, Family Insurance

By Application: Cancer, Heart Attack, Stroke, Others

By Premium Mode: Monthly, Quarterly, Half Yearly, Yearly

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

An increase in the range of critical illnesses covered in the critical illness insurance policies is a major trend shaping the critical insurance market. Major insurance companies are focusing on adding coverage for many new diseases such as Alzheimer’s disease, multiple sclerosis, Parkinson’s disease, and motor neuron diseases besides cancer, stroke, coronary artery bypass, and heart attack.

TBRC’s critical illness market report covers:

Major Market Players: China Life Insurance, Allianz, Ping An Insurance, Aviva, Legal & General, China Pacific Insurance, Prudential plc, New China Life Insurance, Aegon, and AXA.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Critical Illness Global Market Report 2021: COVID-19 Impact And Recovery to 2030 is one of a series of new reports from The Business Research Company that provides critical illness market overviews, analyzes and forecasts market size, share, critical illness market players, critical illness market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s critical illness market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports From The Business Research Company:

Domiciliary Insurance Global Market Report 2021

Health And Medical Insurance Global Market Report 2021

Hospitalization Insurance Global Market Report 2021

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