Edison, NJ -- (SBWIRE) -- 10/27/2020 -- A new independent 200 page research with title 'Global Illness Insurance Market Size study with COVID-19 impact, by Type (Diseases Insurance, Medical Insurance and Income Protection Insurance), by Application (Cancer, Heart attack, Stroke and Others) and Regional Forecasts 2020-2026' guarantees you will remain better informed than your competition. The study covers geographic analysis that includes regions like Asia Pacific, North America, Europe, Latin America, and Rest of the World and important players/vendors such as China Life Insurance, Allianz, Ping an Insurance, Aviva, Legal & General, China Pacific Insurance, Prudential plc, New China Life Insurance, Aegon, Sun Life Financial, the research gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2026
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Summary
Global Illness Insurance Market is valued approximately at USD 33.68 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.80% over the forecast period 2019-2026. Illness insurance is also called as critical insurance cover or dread disease policy, where an insurer comes in a contract with client to make a lump sum cash payment if the policyholder is diagnosed with some specific critical diseases such as cancer, heart attack and stokes etc. covered in the insurance policy. As treating such critical illnesses may requires multiple visits to the hospitals over a long period of time and results in addition to the other hospitalization cost such as doctor visits, medical expenses etc. Whereas, the global impact of COVID-19 results in favorable growth in the demand of the illness insurance market as COVID-19 becomes a critical disease across the globe that accounts for high hospitalization cost along with additional cost related to doctor visits and medical expenses etc. In addition, the rapid growth in chronic diseases across the globe and favorable benefits of covering high cost incurred in treatment of such diseases by illness insurance policies is the factor driving the growth of market over the forecast years. For instance: According to the World Health Organization (WHO), it is projected that till 2020, Chronic disease will account for three-quarter of all deaths worldwide including 75% of death due to stroke, 71% of deaths due to ischaemic heart disease and 70% of deaths due to diabetes in developing countries. However, lack of awareness about critical illness insurance is expected to hamper the market growth during the forecast period.
The regional analysis of global Illness Insurance market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in critical diseases in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rapid growth in chronic diseases in the region along with growth awareness among people about critical illness insurance
would create lucrative growth prospects for the Illness Insurance market across Asia-Pacific region.
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Major market player included in this report are:
China Life Insurance, Allianz, Ping an Insurance, Aviva, Legal & General, China Pacific Insurance, Prudential plc, New China Life Insurance, Aegon, Sun Life Financial
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Disease Insurance
Medical Insurance
Income Protection Insurance
By Application:
Cancer
Heart attack
Stroke
Other
By Region:
North America (U.S., Canada)
Europe (UK, Germany)
Asia Pacific (China, India, Japan)
Latin America (Brazil, Mexico)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Illness Insurance Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Illness Insurance Market, by Region, 2018-2026 (USD Billion)
1.2.2. Illness Insurance Market, by Type, 2018-2026 (USD Billion)
1.2.3. Illness Insurance Market, by Application, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Illness Insurance Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Illness Insurance Market Dynamics
3.1. Illness Insurance Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Illness Insurance Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Illness Insurance Market, by Type
5.1. Market Snapshot
5.2. Global Illness Insurance Market by Type, Performance - Potential Analysis
5.3. Global Illness Insurance Market Estimates & Forecasts by Type 2016-2026 (USD Billion)
5.4. Illness Insurance Market, Sub Segment Analysis
5.4.1. Disease Insurance
....Continued
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