United Kingdom Health Insurance Market

United Kingdom Health Insurance Market: Regional Dynamics and Market Mapping

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According to the TechSci Research report titled “United Kingdom Health Insurance Market – By Region, Competition Forecast & Opportunities, 2018-2028F,” the health insurance market in the United Kingdom is poised for growth. The forecast period, spanning from 2024 to 2028, anticipates an upward trajectory due to increased awareness of health insurance benefits and greater accessibility to healthcare treatments facilitated by a surge in health insurance plans.

Health insurance, covering surgical expenses, medical treatments, and related costs incurred due to illness or injury, plays a pivotal role in providing financial assistance to policyholders. The comprehensive coverage includes both pre- and post-hospitalization expenses.

The market offers various types of coverage, such as cashless or reimbursement claims. Cashless benefits are available when seeking treatment at network hospitals, while reimbursement claims require policyholders to cover expenses initially and later file a claim with the insurance company.

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Two prominent types of insurance providers, public and private, shape the market dynamics. Private health insurance providers are expected to dominate, driven by advanced medical care services and the preference for private coverage, especially for specific or rare conditions not covered by public health insurance policies.

Concerns over National Health Service (NHS) waiting times have fueled the adoption of private medical insurance policies. The increased strain on the NHS due to the COVID-19 pandemic may further boost the uptake of private medical insurance.

The demand for health insurance is fueled by escalating medical costs, high prices for specialized treatments, and rising insurance premiums. Rising medical expenses, including surgery costs, doctor visits, hospital stays, emergency room visits, and diagnostic tests, necessitate comprehensive health insurance coverage.

Report Scope:

In this report, the United Kingdom health insurance market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • United Kingdom Health Insurance Market, By Type of Insurance Provider:
    • Public
    • Private
  • United Kingdom Health Insurance Market, By Type of Coverage:
    • Individual
    • Family
  • United Kingdom Health Insurance Market, By Mode of Purchase:
    • Insurance Companies
    • Insurance Agents/Brokers
    • Others
  • United Kingdom Health Insurance Market, By Premium Type:
    •  Regular Premium
    • Single Premium
  • United Kingdom Health Insurance Market, By End Users:
    • Minors
    • Adults
    • Senior Citizens
  • United Kingdom Health Insurance Market, By Region:
    • England
    • Scotland
    • Wales
    • Northern Ireland.

In 2021, a partnership between Vitality and Samsung UK was announced, integrating Samsung Health into the Vitality Program. This collaboration provides members with additional ways to monitor activity and improve health, enhancing the benefits of the Vitality Program.

Key market players in the United Kingdom Health Insurance Market include:

  • Freedom Healthnet Ltd
  • Exeter Friendly Society Limited
  • AXA PPP Healthcare Group Limited
  • Vitality Group
  • Saga Group
  • Western Provident Association Limited (WPA)
  • British United Provident Association Limited (Bupa)
  • Aviva PLC
  • Admiral Group Plc
  • Cigna European Services (UK) Limited

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The United Kingdom health insurance market is segmented based on insurance provider type, coverage type, purchase mode, premium type, end users, region, and competitive landscape. 

Private companies offering health insurance plans sponsored by employers and the increasing role of online services are identified as trends positively impacting market expansion. The report underscores the significance of demand for quality private care, driven by rising income and heightened awareness of extensive health coverage accessibility.

The report, titled “United Kingdom Health Insurance Market By Type of Insurance Provider, Type of Coverage, Mode of Purchase, Premium Type, End Users, Region, and Competition Forecast & Opportunities, 2018-2028F,” aims to provide cutting-edge market intelligence to assist decision-makers in making informed investment decisions. It also identifies emerging trends, drivers, challenges, and opportunities in the United Kingdom health insurance market.

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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity, and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high-value market research and advisory services that help them identify new market opportunities, growth engines, and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends.

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