According to the latest IMARC group report, entitled “United Arab Emirates Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunities, and Forecast 2021-2026“, the Health insurance market in United Arab Emirates reached a value of US $ 6.6 billion in 2020. In the future, IMARC group expects the market to show strong growth in the period 2021-2026.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
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Health insurance covers the medical or surgical expenses of an insured. Depending on the type of insurance, the person can either pay the insurance provider directly or pay the costs out of pocket and receive a refund. In recent years, medical routines and treatments have become more expensive, leading to an increase in the number of health insurance providers. In the United Arab Emirates, several emirates have implemented health insurance programs to protect their residents and government employees. For example, the Abu Dhabi Ministry of Health announced changes to its health insurance programs for the benefit of its employees and residents. In addition, in Dubai, the Dubai Health Insurance Corporation is designing various new health insurance plans, protecting the rights of policyholders and ensuring the provision of quality health insurance to citizens, residents and visitors of the emirate.
Health Insurance Market Trends in United Arab Emirates:
In recent years, the UAE government has made several efforts to make Dubai the most important center of healthcare excellence in the region. It established a framework for compulsory insurance in the emirate through the Health Insurance Law No. 11, published in 2013. According to this framework, it is compulsory for all nationals of the United Arab Emirates, Dubai residents and expats to have basic health insurance. Apart from this, there are many private players entering the healthcare industry which further boost the healthcare insurance industry in UAE. Moreover, with the increasing incidence of lifestyle-related diseases and the high cost of medical treatment, the health insurance market in UAE is growing rapidly. Looking ahead, the market is expected to grow at a CAGR of around 6% in 2019-2024, reaching a value of $ 7.1 billion by 2024.
Competitive Analysis and Segmentation of United Arab Emirates Health Insurance Market 2021-2026:
Competitive landscape with key players:
The competitive landscape of the United Arab Emirates health insurance market has been studied in the report along with the detailed profiles of the major players operating in the market.
Competitive landscape with key players:
Key market segmentation:
The report has segmented the United Arab Emirates health insurance market on the basis of type and service provider.
Breakdown by type:
On the basis of type, the market has been segmented into individual insurance and group insurance. Currently, individual health insurance is the leading segment.
Breakdown by service provider:
The market has been analyzed on the basis of the service provider which mainly includes public and private. Currently, private health insurance providers have a clear dominance in the market, representing the most important segment.
Explore the full report with table of contents and list of figures: https://www.imarcgroup.com/uae-health-insurance-market
Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Industry trends
- Market drivers and success factors
- The impact of COVID-19 on the global market
- Value chain analysis
- Global market structure
- Complete mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as part of the customization.
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