China Health Insurance Market, By Type of Insurance Provider (Public Vs Private), By Type of Coverage (Individual Vs Family), By Mode of Purchase (Insurance Companies, Insurance Agents/Brokers, and Others (Insurtech Companies, Third Party, etc.)), By Premium Type (Regular Premium, Single Premium), By Region, By Company, Forecast & Opportunities, 2018-2028

Published Date: February - 2025 | Publisher: MIR | No of Pages: 320 | Industry: BFSI | Format: Report available in PDF / Excel Format

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China Health Insurance Market, By Type of Insurance Provider (Public Vs Private), By Type of Coverage (Individual Vs Family), By Mode of Purchase (Insurance Companies, Insurance Agents/Brokers, and Others (Insurtech Companies, Third Party, etc.)), By Premium Type (Regular Premium, Single Premium), By Region, By Company, Forecast & Opportunities, 2018-2028

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The market was valued at approximately USD 688.77 billion and is projected to reach USD 1,409.62 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.6% during this period.

The China health insurance market is expected to be driven by rising number of chronic diseases, increasing demand for health insurance, and rising government efforts in enhancing insurance coverages. Moreover, growing awareness about the benefits offered by health insurance plans, drive the sustainable growth of health insurance industry in China during the forecast period.

Health insurance is a type of insurance that covers the insured person's medical, surgical, and occasionally dental costs. It guards the insurance holder against unforeseen, exorbitant medical expenses. Before the health insurance is responsible for payment, it is typical for the covered policyholder to assume a share of the risk by covering the initial medical expenses up to an agreed-upon amount.

In 2021, about 1.36 billion people in China had a basic health insurance, which was more than 95% of the total population.

USD431 Thousands per year for just USD28 annual premium

Increasing Health Insurance Premiums to Boost the Market Growth

According to China Business News and Ping An Health Insurance, China's health insurance premiums had exceeded USD143 billion in 2021.

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Increasing Awareness of Health Risks to Boost the Market

For instance, total health expenditure in China is expected to reach USD 1085 billion, or about 6.6% of gross domestic product (GDP) in 2021

Increasing Medical Cost to Boost the Market Growth

In 2021, private insurance premiums represented over 11.6% of healthcare expenditures.

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Market Segmentation

Health insurance is segmented based on the insurance provider, type of coverage, mode of purchase, and premium types. Based on the type of insurance provider, the market is bifurcated into public vs private. Based on the type of coverage, the market is divided into individual vs family. Based on the mode of purchase, the market is divided into insurance companies, insurance agents/brokers, and others (insurtech companies, third party, etc.)). Based on premium type, the market is divided into regular premium and single premium based.

Company Profiles

Ping An Insurance (Group) Company of China Ltd, China Life Insurance (Overseas) Company Limited, China Pacific Insurance (Group) Co. Ltd., People's Insurance Company of China, New China Life Insurance Co., Ltd, China Reinsurance (Group) Corporation, AIA Group Limited, Azuria Life, Sino-German Allianz Life Insurance Co., Ltd., and HSBC Bank (China) Company Limited are among the major players driving the China health insurance market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type of Insurance Provider

·         Type of Coverage

·         Mode of Purchase

·         Premium Type

·         Region

Regional Scope

South-Central, South-West, East, North-East, North-West, North

Key Companies Profiled

Ping An Insurance (Group) Company of China Ltd, China Life Insurance (Overseas) Company Limited, China Pacific Insurance Company (Hong Kong) Limited, People's Insurance Company of China, New China Life Insurance Co., Ltd, China Reinsurance (Group) Corporation, AIA Group Limited, Azuria Life, Sino-German Allianz Life Insurance Co., Ltd., HSBC Bank (China) Company Limited

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Table of Content

Here's a suggested Table of Contents (TOC) for a report on the China Health Insurance Market:

Table of Contents

  1. Executive Summary
    1.1. Market Overview
    1.2. Key Trends and Insights
    1.3. Key Market Players
    1.4. Forecast and Growth Potential

  2. Introduction
    2.1. Definition of Health Insurance
    2.2. Importance of Health Insurance in China
    2.3. Objectives of the Report

  3. Market Dynamics
    3.1. Market Drivers
    3.1.1. Demographic Changes and Aging Population
    3.1.2. Urbanization and Increasing Middle-Class
    3.1.3. Rising Healthcare Costs
    3.1.4. Government Policies and Reforms
    3.2. Market Restraints
    3.2.1. Economic Challenges and Inequality
    3.2.2. Gaps in Healthcare Infrastructure
    3.3. Opportunities in the Market
    3.3.1. Digital Health Insurance
    3.3.2. Health Insurance for Rural Areas
    3.4. Challenges Faced by the Industry

  4. Market Segmentation
    4.1. By Type of Health Insurance
    4.1.1. Public Health Insurance
    4.1.2. Private Health Insurance
    4.1.3. Employer-Sponsored Health Insurance
    4.1.4. Voluntary Health Insurance
    4.2. By Region
    4.2.1. Eastern China
    4.2.2. Northern China
    4.2.3. Southern China
    4.2.4. Western China
    4.3. By Demographics
    4.3.1. Individual Insurance
    4.3.2. Family Health Insurance
    4.3.3. Corporate Group Health Insurance

  5. Regulatory Landscape
    5.1. Overview of Government Health Insurance Policies
    5.2. National Healthcare Insurance System (NHI)
    5.3. Private Health Insurance Regulation
    5.4. Recent Healthcare Reforms
    5.5. Compliance and Challenges

  6. Competitive Landscape
    6.1. Market Share Analysis
    6.2. Key Players in the Market
    6.2.1. Public Insurers
    6.2.2. Private Insurers
    6.2.3. Insurtech Companies
    6.3. Strategic Initiatives and Innovations
    6.4. Mergers & Acquisitions in the Health Insurance Sector

  7. Consumer Behavior and Preferences
    7.1. Changing Attitudes Towards Health Insurance
    7.2. Consumer Insights and Demographics
    7.3. Factors Influencing Health Insurance Decisions
    7.4. Digital Adoption in Health Insurance

  8. Technological Innovations
    8.1. Digital Health and Insurtech
    8.2. Artificial Intelligence in Health Insurance
    8.3. Blockchain for Health Data Security
    8.4. Telemedicine and Health Insurance Integration

  9. Impact of COVID-19 on the Health Insurance Market
    9.1. Changes in Health Insurance Demand
    9.2. Government Response and Support Measures
    9.3. Shifting Healthcare Trends Post-Pandemic

  10. Market Forecast and Trends
    10.1. Growth Projections (2025-2030)
    10.2. Emerging Trends in Health Insurance
    10.3. Future of Public and Private Insurance Models
    10.4. Role of Digital Platforms and Data in Shaping the Market

  11. Conclusion
    11.1. Summary of Key Findings
    11.2. Future Outlook for the China Health Insurance Market
    11.3. Recommendations for Stakeholders

  12. Appendices
    12.1. List of Abbreviations
    12.2. Methodology
    12.3. References
    12.4. List of Tables and Figures

 

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