One of the major factors responsible for the surge in the demand for healthcare insurance is the soaring geriatric population level across the world. As per a report published by the United Nations in 2017, called the World Population Prospects, the geriatric population is predicted to increase at a faster rate than the younger population across the world. The report also stated that there were 962 million people in the world, aged 60 years and above in 2017, and this number is predicted to rise to 1.4 billion and 2.1 billion by 2030 and 2050, respectively.
Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/healthcare-insurance-market/report-sample
The other major factor propelling the need for healthcare insurances is the rising prevalence of chronic diseases across the globe. According to the World Health Organization (WHO), chronic diseases are amongst the leading causes of death throughout the world. Moreover, chronic diseases are expected to account for 43.0% of the total diseases in the world, by 2020. In addition to this, the rising healthcare costs in several countries are making a large number of people invest in various health insurance plans.
Due to the above-mentioned factors, the revenue generated from the global sales of various health insurance plans is expected to increase from $1.7 trillion in 2018 to $2.2 trillion by 2024.
The most common types of healthcare insurances are disease, income protection, and medical insurances. Amongst these, the medical insurance policies are expected to register the highest and the fastest growth in adoption during the forecast period, owing to the increasing number of paneled hospitals providing medical services around the world. There are two types of coverage plans offered by the health insurance plans — lifetime and term coverage. Of these two, the term coverage is expected to record rapid growth in adoption during the forecast period, due to the shift of people to this type from the other.
Make an Enquiry before Purchase:https://www.psmarketresearch.com/send-enquiry?enquiry-url=healthcare-insurance-market
Hence, it can be concluded that due to the rising prevalence of chronic diseases and the surging healthcare costs, the adoption of healthcare insurance plans will rise at a rapid rate throughout the world, in the coming years.
