UAE Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The UAE health insurance market size reached US$ 7.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.32% during 2023-2028.
The UAE has a wide-ranging, government-funded and rapidly evolving private healthcare sector delivering high standard of health care to the population. The health insurance policies are an integral part of the healthcare infrastructure as they cover the cost associated with medical and surgical expenses of the policyholders. The costs incurred during the treatment of the patient are either fully paid by the insurance company in advance or indirectly through reimbursement, depending upon pre-decided terms and conditions. An effective health insurance plan includes services such as diagnosis and treatment for illnesses and conditions, psychiatric care, rehabilitation, therapy, emergency transportation, in-patient management, maternity, dental care, etc. AXA Gulf Insurance, Abu Dhabi National Insurance Company (ADNIC), Emirates Insurance Company, Oman Insurance Company, etc. are among the key health insurance providers in the UAE.
With a population of around 9.6 million, the UAE is among the GCC region’s fastest growing economy. Moreover, the government is also playing a major role in increasing the penetration of health insurance in the region. In Abu Dhabi and Dubai, the government provides health insurance for all its citizens. Similarly, the government of Ajman provides all its employees with health insurance. Additionally, both Abu Dhabi and Dubai also mandate employers to provide health insurance coverage to their employees. Moreover, due to the country’s increasing economic diversification and continued inward migration, the per capita expenditure on health care services have increased. Other factors such as increasing occurrences of lifestyle diseases and rising costs of medical treatments are also driving the market positively.
IMARC Group’s latest report provides a deep insight into the UAE health insurance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the UAE health insurance market in any manner.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the UAE health insurance market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on type and service provider.
Breakup by Type:
Individual
Group
Breakup by Service Provider:
Public
Private
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles
Key Questions Answered in This Report
1. What was the size of the UAE health insurance market in 2022?
2. What is the expected growth rate of the UAE health insurance market during 2023-2028?
3. What are the key factors driving the UAE health insurance market?
4. What has been the impact of COVID-19 on the UAE health insurance market?
5. What is the breakup of the UAE health insurance market based on the type?
6. What is the breakup of the UAE health insurance market based on the service provider?
7. Who are the key players/companies in the UAE health insurance market?
The UAE has a wide-ranging, government-funded and rapidly evolving private healthcare sector delivering high standard of health care to the population. The health insurance policies are an integral part of the healthcare infrastructure as they cover the cost associated with medical and surgical expenses of the policyholders. The costs incurred during the treatment of the patient are either fully paid by the insurance company in advance or indirectly through reimbursement, depending upon pre-decided terms and conditions. An effective health insurance plan includes services such as diagnosis and treatment for illnesses and conditions, psychiatric care, rehabilitation, therapy, emergency transportation, in-patient management, maternity, dental care, etc. AXA Gulf Insurance, Abu Dhabi National Insurance Company (ADNIC), Emirates Insurance Company, Oman Insurance Company, etc. are among the key health insurance providers in the UAE.
With a population of around 9.6 million, the UAE is among the GCC region’s fastest growing economy. Moreover, the government is also playing a major role in increasing the penetration of health insurance in the region. In Abu Dhabi and Dubai, the government provides health insurance for all its citizens. Similarly, the government of Ajman provides all its employees with health insurance. Additionally, both Abu Dhabi and Dubai also mandate employers to provide health insurance coverage to their employees. Moreover, due to the country’s increasing economic diversification and continued inward migration, the per capita expenditure on health care services have increased. Other factors such as increasing occurrences of lifestyle diseases and rising costs of medical treatments are also driving the market positively.
IMARC Group’s latest report provides a deep insight into the UAE health insurance market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the UAE health insurance market in any manner.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the UAE health insurance market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on type and service provider.
Breakup by Type:
Individual
Group
Breakup by Service Provider:
Public
Private
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles
Key Questions Answered in This Report
1. What was the size of the UAE health insurance market in 2022?
2. What is the expected growth rate of the UAE health insurance market during 2023-2028?
3. What are the key factors driving the UAE health insurance market?
4. What has been the impact of COVID-19 on the UAE health insurance market?
5. What is the breakup of the UAE health insurance market based on the type?
6. What is the breakup of the UAE health insurance market based on the service provider?
7. Who are the key players/companies in the UAE health insurance market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 UAE HEALTH INSURANCE MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Service Provider
5.6 Market Forecast
5.7 SWOT Analysis
5.7.1 Overview
5.7.2 Strengths
5.7.3 Weaknesses
5.7.4 Opportunities
5.7.5 Threats
5.8 Value Chain Analysis
5.9 Porters Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
5.10 PESTEL Analysis
5.10.1 Political
5.10.2 Economic
5.10.3 Social
5.10.4 Legal
5.10.5 Environmental
5.10.6 Technological
5.11 Price Analysis
6 MARKET BREAKUP BY TYPE
6.1 Individual
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Group
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY SERVICE PROVIDER
7.1 Public
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Private
7.2.1 Market Trends
7.2.2 Market Forecast
8 GOVERNMENT REGULATIONS
9 STRATEGIC RECOMMENDATIONS
10 COMPETITIVE LANDSCAPE
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 UAE HEALTH INSURANCE MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Service Provider
5.6 Market Forecast
5.7 SWOT Analysis
5.7.1 Overview
5.7.2 Strengths
5.7.3 Weaknesses
5.7.4 Opportunities
5.7.5 Threats
5.8 Value Chain Analysis
5.9 Porters Five Forces Analysis
5.9.1 Overview
5.9.2 Bargaining Power of Buyers
5.9.3 Bargaining Power of Suppliers
5.9.4 Degree of Competition
5.9.5 Threat of New Entrants
5.9.6 Threat of Substitutes
5.10 PESTEL Analysis
5.10.1 Political
5.10.2 Economic
5.10.3 Social
5.10.4 Legal
5.10.5 Environmental
5.10.6 Technological
5.11 Price Analysis
6 MARKET BREAKUP BY TYPE
6.1 Individual
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Group
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY SERVICE PROVIDER
7.1 Public
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Private
7.2.1 Market Trends
7.2.2 Market Forecast
8 GOVERNMENT REGULATIONS
9 STRATEGIC RECOMMENDATIONS
10 COMPETITIVE LANDSCAPE
10.1 Market Structure
10.2 Key Players
10.3 Profiles of Key Players
LIST OF TABLES
Table 1: UAE: Health Insurance Market: Key Industry Highlights, 2022 and 2028
Table 2: UAE: Health Insurance Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: UAE: Health Insurance Market Forecast: Breakup by Service Provider (in Million US$), 2023-2028
Table 4: UAE: Health Insurance Market Structure
Table 5: UAE: Health Insurance Market: Key Players
Table 1: UAE: Health Insurance Market: Key Industry Highlights, 2022 and 2028
Table 2: UAE: Health Insurance Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: UAE: Health Insurance Market Forecast: Breakup by Service Provider (in Million US$), 2023-2028
Table 4: UAE: Health Insurance Market Structure
Table 5: UAE: Health Insurance Market: Key Players
LIST OF FIGURES
Figure 1: UAE: Health Insurance Market: Major Drivers and Challenges
Figure 2: UAE: Health Insurance Market: Sales Value (in Billion US$), 2017-2022
Figure 3: UAE: Health Insurance Market: Breakup by Type (in %), 2022
Figure 4: UAE: Health Insurance Market: Breakup by Service Provider (in %), 2022
Figure 5: UAE: Health Insurance Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 6: UAE: Health Insurance Industry: SWOT Analysis
Figure 7: UAE: Health Insurance Industry: Value Chain Analysis
Figure 8: UAE: Health Insurance Industry: Porter’s Five Forces Analysis
Figure 9: UAE: Health Insurance Industry: PESTEL Analysis
Figure 10: UAE: Health Insurance (Individual) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: UAE: Health Insurance (Individual) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: UAE: Health Insurance (Group) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: UAE: Health Insurance (Group) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: UAE: Health Insurance (Public) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: UAE: Health Insurance (Public) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: UAE: Health Insurance (Private) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: UAE: Health Insurance (Private) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 1: UAE: Health Insurance Market: Major Drivers and Challenges
Figure 2: UAE: Health Insurance Market: Sales Value (in Billion US$), 2017-2022
Figure 3: UAE: Health Insurance Market: Breakup by Type (in %), 2022
Figure 4: UAE: Health Insurance Market: Breakup by Service Provider (in %), 2022
Figure 5: UAE: Health Insurance Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 6: UAE: Health Insurance Industry: SWOT Analysis
Figure 7: UAE: Health Insurance Industry: Value Chain Analysis
Figure 8: UAE: Health Insurance Industry: Porter’s Five Forces Analysis
Figure 9: UAE: Health Insurance Industry: PESTEL Analysis
Figure 10: UAE: Health Insurance (Individual) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: UAE: Health Insurance (Individual) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: UAE: Health Insurance (Group) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: UAE: Health Insurance (Group) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: UAE: Health Insurance (Public) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: UAE: Health Insurance (Public) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: UAE: Health Insurance (Private) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: UAE: Health Insurance (Private) Market Forecast: Sales Value (in Million US$), 2023-2028
