Critical illness insurance or critical illness cover is an insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy. Also, the system may be structured to pay out regular income, and the payout may also be on the policyholder undergoing a surgical procedure, for example, having a heart bypass operation.
MARKET DYNAMICS
The critical illness insurance market is expected to witness a profitable growth owing to the rise in the number of critical illness cases such as cancer, stroke, heart attack, and renal failure, among others. Moreover, the critical illness means any illness, disease, or health condition that is life-threatening and needs comprehensive care and continuous monitoring, often in intensive care.
MARKET SCOPE
The "Critical Illness Insurance Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of critical illness insurance market with detailed market segmentation by type and application. The critical illness insurance market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in critical illness insurance market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The critical illness insurance market is segmented on the basis of type, and application. Based on type, the market is segmented as disease insurance, medical insurance and income protection insurance. On the basis of application, the market is categorized as cancer, heart attack and stroke.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the critical illness insurance market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The critical illness insurance market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting critical illness insurance market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the critical illness insurance market in these regions.
MARKET PLAYERS
The report covers key developments in the critical illness insurance market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from critical illness insurance market are anticipated to have lucrative growth opportunities in the future with the rising demand for critical illness insurance in the global market. Below mentioned is the list of few companies engaged in the critical illness insurance market.
The report also includes the profiles of key players in critical illness insurance market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Aegon N.V.
- Allianz SE
- Aviva plc
- Axa S.A.
- China Life Insurance
- China Pacific Insurance Co., Ltd.
- Legal & General Group plc,
- New China Life Insurance Co., Ltd.
- Ping An Insurance
- Prudential plc
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.