India Health Insurance Market, Competition, Forecast & Opportunities, 2025 - ResearchAndMarkets.com

The "India Health Insurance Market, by Claim Type, by Insurance Type, by Type of Insurance Provider, by Business Type, by Different Types of Health Insurance Plans, by Type of Scheme, by Type of Coverage, by Mode of Purchase, by Region, Competition, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.

The Indian Health Insurance Market is anticipated to register a robust CAGR of 29% during 2021-2025 owing to expanding middle-class population, growing awareness about benefits offered by a health insurance plan, favorable government initiatives and growing expenditure on healthcare.

The insurance sector in India is regulated by the Insurance Regulatory and Development Authority of India (IRDAI). The introduction of health insurance schemes by Indian government, which includes personal accident (PA) schemes like Pradhan Mantri Suraksha Bima Yojana (PMSBY), PA cover from Indian Railway Catering and Tourism Corp (IRCTC) and so on, has resulted in increasing penetration of the health insurance market in India.

Health insurance is a type of insurance coverage that pays for medical, surgical, and sometimes dental expenses of the insurance holder. It protects the insurance holder from unexpected, high medical costs. Health insurance usually requires the covered policyholder to bear a portion of the risk by paying initial medical costs up to an agreed-upon amount before the health insurance is liable for payment.

The health insurance market is booming in India with rising number of people suffering from chronic diseases, increasing number of road accidents and encouragement from both public and private sector companies.

The Indian Health Insurance Market is segmented based on claim type, type of insurance provider, insurance type, business type, different types of health insurance plans, type of scheme, type of coverage, term of coverage, cash limit, mode of purchase, end-user and region. Based on type of insurance provider, the market is segmented into public, private and standalone health insurers. In 2019, private insurance providers accounted for the largest share in the Indian Health Insurance Market.

Private insurance providers offer quick referral to a consultant, provide advanced treatment options, and have quick and flexible treatment time for users in private hospitals. Based on insurance type, the market is segmented into disease and income protection. In 2019, disease insurance type dominated the health insurance market and the segment is expected to continue its dominance during the forecast period. However, income protection health insurance segment is foreseen to grow at a faster pace through 2025.

Major players operating in the Indian Health Insurance Market include Star Health Insurance, ICICI Lombard General Insurance Company, Religare Health Insurance Company Limited, HDFC Ergo, Max Bupa Health Insurance, TATA-AIG General Insurance Company Limited, SBI General Insurance, Universal Sompo Health Insurance, Edelweiss Health Insurance, Digi Health Insurance, and others.

The insurance providers operating in India are now increasingly focusing on providing specialized health policies as well as on rural masses to increase the market share.

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on India Health Insurance Market

4. Executive Summary

5. Voice of Customer

6. India Insurance Sector Overview

6.1. Penetration

6.2. Premium Paid

6.3. Grievance

6.4. Infrastructure

7. India Health Insurance Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Claim Type (Cashless, Reimbursement)

7.2.2. By Insurance Type (Disease, Income Protection)

7.2.3. By Type of Insurance Provider (Public, Private, Standalone Health Insurers)

7.2.4. By Business Type (Government Sponsored, Group, Individual)

7.2.5. By Different Types of Plans (Indemnity Plans, Defined- Benefit Plans)

7.2.6. By Indemnity Plans (Family Floater Coverage, Individual Insurance, Senior Citizen Coverage, Unit Linked Health Plans)

7.2.7. By Type of Scheme (Community-based, Employer based, Voluntary)

7.2.8. By Type of Coverage (Individual, Family, Extended Family)

7.2.9. By Term of Coverage (Term, Lifetime)

7.2.10. By Cash Limit (Up to INR 200,000, INR 200,001 - 300,000, INR 300,001 - 500,000, INR 500,001 - 1,000,000, & Above INR 1 Million)

7.2.11. By Mode of Purchase (Insurance Agent, Bancassurance, Corporate Agents, Direct Company Representatives, Brokers, Online, Web Aggregators, Others)

7.2.12. By End User (Minors, Adults, Senior Citizens)

7.2.13. By Company (2019)

7.2.14. By Region

7.3. Market Attractiveness Index

8. North India Health Insurance Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Different Types of Health Insurance Plans

8.2.2. By Type of Scheme

8.2.3. By Type of Coverage

8.2.4. By End User

9. South India Health Insurance Market Outlook

10. East India Health Insurance Market Outlook

11. West India Health Insurance Market Outlook

12. Market Dynamics

12.1. Drivers

12.2. Challenges

12.3. Impact Analysis of Various Driver & Challenges

13. Market Trends & Developments

14. Policy & Regulatory Landscape

14.1. Tax Benefits

14.2. Portability

14.3. Insurance Act

14.4. Foreign Direct Investment

14.5. Role of IRDAI

14.6. National Health Protection Scheme under Ayushman Bharat

15. Competitive Landscape

15.1. Company Profile

15.1.1. Company Detail

15.1.2. Service Charges & Fees

15.1.3. Hospitalization Process

15.1.4. Documentation Required for Insurance

15.2. Competition Outlook

15.3. Players Profiled (Leading Companies)

15.3.1. SBI General Insurance

15.3.2. ICICI Lombard General Insurance

15.3.3. TATA-AIG General Insurance Company Limited

15.3.4. Religare Health Insurance Company Limited

15.3.5. Star Health and Allied Insurance Co Ltd

15.3.6. Manipal Cigna Health Insurance Limited

15.3.7. Universal Sompo Health Insurance

15.3.8. Edelweiss Health Insurance

15.3.9. Digi Health Insurance

15.3.10. HDFC Ergo

15.3.11. Others

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