Indian Health Insurance Market to Grow at CAGR of 26% by 2014
According to our latest report “Booming Health Insurance in India”, Indian health insurance market represents one the fastest growing and second largest non-life insurance segments in the country. Despite unfavorable economic environment worldwide, insurance industry in India managed to sustain its double-digit growth rate during 2008-09. Moreover, with the growing health consciousness, rising medical cost, and increasing government support, the health insurance premium is expected to grow at a CAGR of over 26% during 2009-10 - 2013-14. India health insurance market in the country is the second largest among the general insurance category. The market still remains largely underpenetrated and offer huge growth potential. Presently, it is dominated by the public sector insurers, and all the private insurers collectively accounts for less than half of the total health insurance premium written in the country. However, the trend is expected to reverse soon, with the expansion and entry of large number of private insurers.
Besides, we have done an extensive research and prudent analysis of the Indian health insurance market to understand the factors that will continue to serve as the drivers for the industry in coming years. We have identified various factors that have been propelling growth in the market for the past few years. Besides, various other factors propelling growth in the health insurance industry have been thoroughly evaluated in the report.
“Booming Health Insurance in India” provides a deep insight into the Indian health insurance and evaluates its past, present, and future scenario. It discusses the key factors, which are driving the health insurance sector in the domestic market. It gives comprehensive information of each industry parameters like, key market trends, emerging sectors, and regulatory framework. Most importantly, the report presents future outlook for all the important aspects of the industry considering the effects of global economic crisis on base drivers, opportunities, and challenges faced by the health insurance industry. Due consideration has been given to the competitive landscape to enable clients understand the market structure and future growth prospects.
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