Newark, New Castle, USA, May 11, 2023 (GLOBE NEWSWIRE) — Growth Plus Reports estimated the size of the global market for expat health insurance in 2022 to be worth US$ 25.50 billion, and it is expected that it will increase at a revenue CAGR of 11.5% to reach US$ 67.92 billion by 2031.
The global market for expat health insurance was analyzed and is expected to rise significantly in terms of revenue share in the coming years. The term “expat health insurance market” refers to a niche industry that provides health insurance policies that are especially suited to the requirements of expatriates or those who live abroad for an extended period.
Key Takeaways:
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The growth of remote work is driving the global market revenue share for expat health insurance.
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The rising healthcare expenditure is driving the demand of the global market and the revenue share.
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Awareness of the risks associated with living abroad without adequate insurance is driving the demand for expat health insurance.
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Expat Health Insurance Market Scope
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 25.50 billion |
Revenue Forecast in 2031 |
US$ 67.92 billion |
CAGR |
11.5% |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Service Provider, Indication, Term Plan, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Global Expat Health Insurance Market:
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In April 2023, Global Prima Medical Insurance is a fresh-new international private medical insurance (IPMI) service that IMG launched under its ALC Health brand.
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In February 2023, Abu Dhabi introduced flexible health insurance for foreign investors and businesspeople. Coverage for acceptable annual treatment costs up to 150,000 Dirhams.
Competitive Landscape
A list of the prominent players operating in the global market for expat health insurance includes:
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AXA Global Healthcare
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Bupa Global
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A Plus International
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AIA Group
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Allianz Care
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Cigna Global
Market Drivers and Restraints:
The global expat health insurance market revenue is driven by the increasing number of people moving abroad, awareness among people for risk coverage, and rising healthcare costs.
However, high costs and limited coverage options are expected to restrain revenue growth of the global expat health insurance market.
Market Segmentation:
Segmentation By Service Provider
Based on the service provider, the global expat health insurance market is segmented into private and public. Due to the coverage for a wide range of medical services and its additional benefits, the private service provider segment with the largest revenue share dominates the global market.
Segmentation By Indication
Based on the therapy, the global expat health insurance market is segmented into maternity coverage, emergency medical evacuation, outpatient care coverage, dental coverage, and others. The outpatient care coverage segment accounts for the largest revenue share due to the range of services and a large number of their advantages from inpatient care.
Segmentation By Term Plan
Based on the term plan, the global expat health insurance market is segmented into long-term and long-term. The long-term segment accounts for the largest revenue share due to the large number of people planning to live abroad with families.
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Regional Growth Dynamics
Based on the region, the global expat health insurance market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to various insurance companies, including large international firms, North America accounts for the largest revenue share in the global market.
Report Coverage
Growth Plus Reports studied the global market for expat health insurance in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.
Table of Content
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INTRODUCTION
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Market Ecosystem
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Timeline Under Consideration
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Historical Years – 2021
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Base Year – 2022
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Forecast Years – 2023 to 2031
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Currency Used in the Report
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RESEARCH METHODOLOGY
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Research Approach
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Data Collection Methodology
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Data Sources
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Secondary Sources
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Primary Sources
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Market Estimation Approach
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Bottom Up
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Top Down
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Market Forecasting Model
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Limitations and Assumptions
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PREMIUM INSIGHTS
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Current Market Trends (COVID-19 Perspective)
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Key Players & Competitive Positioning (2022)
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MARKET DYNAMICS
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Drivers
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Restraints/Challenges
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Opportunities
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GLOBAL EXPAT HEALTH INSURANCE MARKET – ANALYSIS & FORECAST, BY SERVICE PROVIDER
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Private
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Public
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GLOBAL EXPAT HEALTH INSURANCE MARKET – ANALYSIS & FORECAST, BY INDICATION
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Emergency Medical Evacuation
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Maternity Coverage
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Outpatient Care Coverage
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Dental Coverage
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Others
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GLOBAL EXPAT HEALTH INSURANCE MARKET – ANALYSIS & FORECAST, BY TERM PLAN
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Short-Term
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Long-Term
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EXPAT HEALTH INSURANCE MARKET TOC
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Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
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Winning imperatives
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