North America Health Insurance Market 2020-2030 by Coverage Type (Medical, Disease, Income), Level of Coverage (Bronze, Silver, Gold, Platinum), Plan Period (Lifetime, Term)
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North America health insurance market is expected to grow by 5.0% annually in the forecast period and reach $1,125.0 billion by 2030 driven by the increasing costs of healthcare services, the growing prevalence of chronic diseases, rising geriatric population, and the rapid rise of healthcare expenditure on account of government supports.
Highlighted with 29 tables and 61 figures, this 113-page report “North America Health Insurance Market 2020-2030 by Coverage Type (Medical, Disease, Income), Level of Coverage (Bronze, Silver, Gold, Platinum), Plan Period (Lifetime, Term), Network (PPOs, HMOs, POS, EPO), Provider (Public, Private), Buyer (Individuals, Corporates), Demographics (Minors, Adults, Senior Citizens), Distribution Channel (Agent & Brokers, Direct, E-commerce), and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire North America health insurance market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate and forecast from 2020 till 2030 with 2019 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify North America health insurance market in every aspect of the classification from perspectives of Coverage Type, Level of Coverage, Plan Period, Network, Provider, Buyer, Demographics, Distribution Channel, and Country.
Based on Coverage Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Medical Insurance
• Diseases Insurance
• Income Protection Insurance
• Other Insurance Types
Based on Level of Coverage, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Bronze Plan
• Silver Plan
• Gold Plan
• Platinum Plan
Based on Plan Period, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Lifetime Insurance
• Term Insurance
Based on Network, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Preferred Provider Organizations (PPOs)
• Health Maintenance Organizations (HMOs)
• Point of Services (POS)
• Exclusive Provider Organization (EPO)
• Other Networks
Based on Provider, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Private Providers
• Public Providers
• Standalone Health Insurers
Based on Buyer, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Individuals
• Corporates
• Other Buyers
Based on Demographics, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Minors
• Adults
• Senior Citizens
Based on Distribution Channel, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2019-2030 included in each primary section.
• Insurance Agent & Brokers
• Direct Marketing
• E-commerce
• Other Distribution Channels
Geographically, the following national/local markets are fully investigated:
• U.S.
• Canada
• Mexico
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2019-2030. The breakdown of key national markets by Coverage Type, Plan Period, Provider, and Demographics over the forecast years is also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Key Players (this may not be a complete list and extra companies can be added upon request):
AIA Group Limited
Allianz Group
Anthem Inc.
Assicurazioni Generali S.p.A.
AXA Equitable Life Insurance Company
Berkshire Hathaway Inc.
China Life Insurance Company Limited
CVS Health Corporation (Aetna Inc.)
Munich Re Group
Ping An Insurance (Group) Company of China Ltd.
Prudential plc
State Farm Group
UnitedHealth Group Incorporated
Zurich Insurance Group
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1 Introduction 7
1.1 Industry Definition and Research Scope 7
1.1.1 Industry Definition 7
1.1.2 Research Scope 8
1.2 Research Methodology 11
1.2.1 Overview of Market Research Methodology 11
1.2.2 Market Assumption 12
1.2.3 Secondary Data 12
1.2.4 Primary Data 12
1.2.5 Data Filtration and Model Design 13
1.2.6 Market Size/Share Estimation 14
1.2.7 Research Limitations 15
1.3 Executive Summary 16
2 Market Overview and Dynamics 19
2.1 Market Size and Forecast 19
2.1.1 Impact of COVID-19 on World Economy 20
2.1.2 Impact of COVID-19 on the Market 22
2.2 Major Growth Drivers 24
2.3 Market Restraints and Challenges 29
2.4 Emerging Opportunities and Market Trends 32
2.5 Porter’s Fiver Forces Analysis 36
3 Segmentation of North America Market by Coverage Type 40
3.1 Market Overview by Coverage Type 40
3.2 Medical Insurance 42
3.3 Diseases Insurance 43
3.4 Income Protection Insurance 44
3.5 Other Insurance Types 45
4 Segmentation of North America Market by Level of Coverage 46
4.1 Market Overview by Level of Coverage 46
4.2 Bronze Plan 48
4.3 Silver Plan 49
4.4 Gold Plan 50
4.5 Platinum Plan 51
5 Segmentation of North America Market by Plan Period 52
5.1 Market Overview by Plan Period 52
5.2 Lifetime Insurance 54
5.3 Term Insurance 55
6 Segmentation of North America Market by Network 56
6.1 Market Overview by Network 56
6.2 Preferred Provider Organizations (PPOs) 58
6.3 Health Maintenance Organizations (HMOs) 59
6.4 Point of Services (POS) 60
6.5 Exclusive Provider Organization (EPO) 61
6.6 Other Networks 62
7 Segmentation of North America Market by Provider 63
7.1 Market Overview by Provider 63
7.2 Private Providers 65
7.3 Public Providers 66
7.4 Standalone Health Insurers 67
8 Segmentation of North America Market by Buyer 68
8.1 Market Overview by Buyer 68
8.2 Individuals 70
8.3 Corporates 71
8.4 Other Buyers 72
9 Segmentation of North America Market by Demographics 73
9.1 Market Overview by Demographics 73
9.2 Minors 75
9.3 Adults 76
9.4 Senior Citizens 77
10 Segmentation of North America Market by Distribution Channel 78
10.1 Market Overview by Distribution Channel 78
10.2 Insurance Agent & Brokers 80
10.3 Direct Marketing 81
10.4 E-commerce 82
10.5 Other Distribution Channels 83
11 North America Market 2019-2030 by Country 84
11.1 Overview of North America Market 84
11.2 U.S. 87
11.3 Canada 90
11.4 Mexico 92
12 Competitive Landscape 94
12.1 Overview of Key Vendors 94
12.2 New Product Launch, Partnership, Investment, and M&A 97
12.3 Company Profiles 98
AIA Group Limited 98
Allianz Group 100
Anthem Inc. 101
Assicurazioni Generali S.p.A. 102
AXA Equitable Life Insurance Company 103
Berkshire Hathaway Inc. 104
China Life Insurance Company Limited 105
CVS Health Corporation (Aetna Inc.) 106
Munich Re Group 107
Ping An Insurance (Group) Company of China Ltd. 108
Prudential plc 109
State Farm Group 110
UnitedHealth Group Incorporated 111
Zurich Insurance Group. 112
RELATED REPORTS 113
List of Tables:
Table 1. Snapshot of North America Health Insurance Market in Balanced Perspective, 2019-2030 17
Table 2. Growth Rate of World GDP, 2020-2022 21
Table 3. World Health Spending by Region, $ bn, 2013-2020 28
Table 4. Main Product Trends and Market Opportunities in North America Health Insurance Market 32
Table 5. North America Health Insurance Market by Coverage Type, 2019-2030, $ mn 40
Table 6. North America Health Insurance Market by Level of Coverage, 2019-2030, $ mn 46
Table 7. North America Health Insurance Market by Plan Period, 2019-2030, $ mn 52
Table 8. North America Health Insurance Market by Network, 2019-2030, $ mn 56
Table 9. North America Health Insurance Market by Provider, 2019-2030, $ mn 63
Table 10. North America Health Insurance Market by Buyer, 2019-2030, $ mn 68
Table 11. North America Health Insurance Market by Demographics, 2019-2030, $ mn 73
Table 12. North America Health Insurance Market by Distribution Channel, 2019-2030, $ mn 78
Table 13. North America Health Insurance Market by Country, 2019-2030, $ mn 85
Table 14. U.S. Health Insurance Market by Coverage Type, 2019-2030, $ mn 89
Table 15. U.S. Health Insurance Market by Plan Period, 2019-2030, $ mn 89
Table 16. U.S. Health Insurance Market by Provider, 2019-2030, $ mn 89
Table 17. U.S. Health Insurance Market by Demographics, 2019-2030, $ mn 89
Table 18. Canada Health Insurance Market by Coverage Type, 2019-2030, $ mn 91
Table 19. Canada Health Insurance Market by Plan Period, 2019-2030, $ mn 91
Table 20. Canada Health Insurance Market by Provider, 2019-2030, $ mn 91
Table 21. Canada Health Insurance Market by Demographics, 2019-2030, $ mn 91
Table 22. Mexico Health Insurance Market by Coverage Type, 2019-2030, $ mn 93
Table 23. Mexico Health Insurance Market by Plan Period, 2019-2030, $ mn 93
Table 24. Mexico Health Insurance Market by Provider, 2019-2030, $ mn 93
Table 25. Mexico Health Insurance Market by Demographics, 2019-2030, $ mn 93
Table 26. AIA Group Limited: Company Snapshot 98
Table 27. AIA Group Limited: Business Segmentation 98
Table 28. AIA Group Limited: Product Portfolio 99
Table 29. AIA Group Limited: Revenue, 2018-2020, $ mn 99
List of Figures:
Figure 1. Research Method Flow Chart 11
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 14
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2019-2030 16
Figure 4. North America Health Insurance Market, 2019-2030, $ mn 19
Figure 5. Impact of COVID-19 on Business 22
Figure 6. Primary Drivers and Impact Factors of North America Health Insurance Market 24
Figure 7. Worldwide Geriatric Population (60 years and above) by Regions, 2015 & 2030, million 27
Figure 8. World Population 65 and Over, % of Total Population, 1950-2060 27
Figure 9. Primary Restraints and Impact Factors of North America Health Insurance Market 29
Figure 10. Investment Opportunity Analysis 33
Figure 11. Porter’s Fiver Forces Analysis of North America Health Insurance Market 36
Figure 12. Breakdown of North America Health Insurance Market by Coverage Type, 2019-2030, % of Revenue 41
Figure 13. North America Addressable Market Cap in 2021-2030 by Coverage Type, Value ($ mn) and Share (%) 41
Figure 14. North America Health Insurance Market: Medical Insurance, 2019-2030, $ mn 42
Figure 15. North America Health Insurance Market: Diseases Insurance, 2019-2030, $ mn 43
Figure 16. North America Health Insurance Market: Income Protection Insurance, 2019-2030, $ mn 44
Figure 17. North America Health Insurance Market: Other Insurance Types, 2019-2030, $ mn 45
Figure 18. Breakdown of North America Health Insurance Market by Level of Coverage, 2019-2030, % of Sales Revenue 47
Figure 19. North America Addressable Market Cap in 2021-2030 by Level of Coverage, Value ($ mn) and Share (%) 47
Figure 20. North America Health Insurance Market: Bronze Plan, 2019-2030, $ mn 48
Figure 21. North America Health Insurance Market: Silver Plan, 2019-2030, $ mn 49
Figure 22. North America Health Insurance Market: Gold Plan, 2019-2030, $ mn 50
Figure 23. North America Health Insurance Market: Platinum Plan, 2019-2030, $ mn 51
Figure 24. Breakdown of North America Health Insurance Market by Plan Period, 2019-2030, % of Sales Revenue 53
Figure 25. North America Addressable Market Cap in 2021-2030 by Plan Period, Value ($ mn) and Share (%) 53
Figure 26. North America Health Insurance Market: Lifetime Insurance, 2019-2030, $ mn 54
Figure 27. North America Health Insurance Market: Term Insurance, 2019-2030, $ mn 55
Figure 28. Breakdown of North America Health Insurance Market by Network, 2019-2030, % of Revenue 57
Figure 29. North America Addressable Market Cap in 2021-2030 by Network, Value ($ mn) and Share (%) 57
Figure 30. North America Health Insurance Market: Preferred Provider Organizations (PPOs), 2019-2030, $ mn 58
Figure 31. North America Health Insurance Market: Health Maintenance Organizations (HMOs), 2019-2030, $ mn 59
Figure 32. North America Health Insurance Market: Point of Services (POS), 2019-2030, $ mn 60
Figure 33. North America Health Insurance Market: Exclusive Provider Organization (EPO), 2019-2030, $ mn 61
Figure 34. North America Health Insurance Market: Other Networks, 2019-2030, $ mn 62
Figure 35. Breakdown of North America Health Insurance Market by Provider, 2019-2030, % of Revenue 64
Figure 36. North America Addressable Market Cap in 2021-2030 by Provider, Value ($ mn) and Share (%) 64
Figure 37. North America Health Insurance Market: Private Providers, 2019-2030, $ mn 65
Figure 38. North America Health Insurance Market: Public Providers, 2019-2030, $ mn 66
Figure 39. North America Health Insurance Market: Standalone Health Insurers, 2019-2030, $ mn 67
Figure 40. Breakdown of North America Health Insurance Market by Buyer, 2019-2030, % of Revenue 68
Figure 41. North America Addressable Market Cap in 2021-2030 by Buyer, Value ($ mn) and Share (%) 69
Figure 42. North America Health Insurance Market: Individuals, 2019-2030, $ mn 70
Figure 43. North America Health Insurance Market: Corporates, 2019-2030, $ mn 71
Figure 44. North America Health Insurance Market: Other Buyers, 2019-2030, $ mn 72
Figure 45. Breakdown of North America Health Insurance Market by Demographics, 2019-2030, % of Revenue 73
Figure 46. North America Addressable Market Cap in 2021-2030 by Demographics, Value ($ mn) and Share (%) 74
Figure 47. North America Health Insurance Market: Minors, 2019-2030, $ mn 75
Figure 48. North America Health Insurance Market: Adults, 2019-2030, $ mn 76
Figure 49. North America Health Insurance Market: Senior Citizens, 2019-2030, $ mn 77
Figure 50. Breakdown of North America Health Insurance Market by Distribution Channel, 2019-2030, % of Revenue 78
Figure 51. North America Addressable Market Cap in 2021-2030 by Distribution Channel, Value ($ mn) and Share (%) 79
Figure 52. North America Health Insurance Market: Insurance Agent & Brokers, 2019-2030, $ mn 80
Figure 53. North America Health Insurance Market: Direct Marketing, 2019-2030, $ mn 81
Figure 54. North America Health Insurance Market: E-commerce, 2019-2030, $ mn 82
Figure 55. North America Health Insurance Market: Other Distribution Channels, 2019-2030, $ mn 83
Figure 56. Breakdown of North America Health Insurance Market by Country, 2019 and 2030, % of Revenue 85
Figure 57. Contribution to North America 2021-2030 Cumulative Market by Country, Value ($ mn) and Share (%) 86
Figure 58. U.S. Health Insurance Market, 2019-2030, $ mn 88
Figure 59. Canada Health Insurance Market, 2019-2030, $ mn 90
Figure 60. Health Insurance Market in Mexico, 2015-2030F, $ mn 92
Figure 61. Growth Stage of North America Health Insurance Industry over the Forecast Period 94