Reports

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Saudi Arabia Health Insurance Market: By Type: Individual, Group; By Service Provider: Public, Private; Regional Analysis; Historical Market and Forecast (2015-2025); Market Dynamics; Value Chain Analysis; Government Regulations; Strategic Recommendations; Competitive Landscape; Industry Events and Developments

Saudi Arabia Health Insurance Market Outlook

The Saudi Arabia health insurance market size was around USD 5.81 billion in 2019. The industry is further expected to attain a value of around USD 7.60 billion by 2025, growing at a CAGR of 5.2% over the forecast period of 2020-2025.

The health insurance industry in Saudi Arabia is being driven by the growing consumer awareness regarding health coupled with the increased government initiatives to improve the healthcare infrastructure and policies in the region.

In July 2016, the government started implementing the mandatory unified health insurance scheme across the country. The scheme has been completely in place since 2017, making it mandatory for all private sector organisations to provide health insurance to their employees as well as their dependants – this includes spouse, unmarried daughters, and male children below 25 years of age. Thus, with the Saudi Arabian government mandating health coverage for all nationals and non-nationals, the industry is witnessing an increased growth in the region.

 

Properties and Applications

Health insurance is a form of insurance coverage that wholly or partially reimburses the medical needs and expenses of its customer, that is, an insured individual. By covering the medical expenses of the insurer, such schemes aid an individual during a time of medical emergency, providing numerous benefits at an affordable price point.

The market segmentation, based on type, is as follows:

  • Individual
  • Group

On the basis of service provider, the industry has been categorised into:

  • Public 
  • Private

 

Market Analysis

The Saudi Arabia health insurance market is being driven by the implementation of favourable government initiatives and rising health concerns in the region. Further, factors like rising disposable incomes, increased living standards, and rapid urbanisation in the region are supporting the growth of the industry in Saudi Arabia. To fulfill the demand for improved healthcare facilities at affordable cost, the government is investing heavily in restructuring the healthcare system by privatising public hospitals and introducing private health insurance schemes. This is creating various opportunities for the industry growth in the region.

Moreover, the growing prevalence of busy and sedentary lifestyles is leading to the growth in incidences of obesity and diabetes in the region. This is creating a need for health insurance, which can cover the growing medical expenses. The growing patient pool and rising population in the region are expected to provide a further push to the industry. The launch of affordable insurance plans, which can further be customised to fit the exact customers' needs, is contributing to the industry growth. The development of novel programmes by the leading players in the industry, aimed at providing a safeguard against exorbitant medical bills to the consumers in Saudi Arabia, is expected to aid the market growth in Saudi Arabia over the forecast period.

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Saudi Arabia Health Insurance Market Snapshot
7    Industry Opportunities and Challenges
8    Saudi Arabia Health Insurance Market Analysis

    8.1    Key Industry Highlights
    8.2    Saudi Arabia Health Insurance Historical Market (2015-2019) 
    8.3    Saudi Arabia Health Insurance Market Forecast (2020-2025)
    8.4    Saudi Arabia Health Insurance Market by Type
        8.4.1    Individual 
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2015-2019)
            8.4.1.3    Forecast Trend (2020-2025)
        8.4.2    Group
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2015-2019)
            8.4.2.3    Forecast Trend (2020-2025)
    8.5    Saudi Arabia Health Insurance Market by Service Provider
        8.5.1    Public
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2015-2019)
            8.5.1.3    Forecast Trend (2020-2025)
        8.5.2    Private
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2015-2019)
            8.5.2.3    Forecast Trend (2020-2025)
9    Market Dynamics
    9.1    SWOT Analysis
        9.1.1    Strengths
        9.1.2    Weaknesses
        9.1.3    Opportunities
        9.1.4    Threats
    9.2    Porter’s Five Forces Analysis
        9.2.1    Supplier’s Power
        9.2.2    Buyers Power
        9.2.3    Threat of New Entrants
        9.2.4    Degree of Rivalry
        9.2.5    Threat of Substitutes
    9.3    EMR’s Key Indicators for Demand
    9.4    EMR’s Key Indicators for Price
10    Value Chain Analysis
11    Government Regulations
12    Strategic Recommendations 
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players Market Share
    13.3    Company Profiles
14    Industry Events and Developments

 

List of Figures and Tables

1.    Saudi Arabia Health Insurance Market: Key Industry Highlights, 2015 and 2025
2.    Saudi Arabia Health Insurance Historical Market: Breakup by Type (USD Million), 2015-2019
3.    Saudi Arabia Health Insurance Market Forecast: Breakup by Type (USD Million), 2020-2025
4.    Saudi Arabia Health Insurance Historical Market: Breakup by Service Provider (USD Million), 2015-2019
5.    Saudi Arabia Health Insurance Market Forecast: Breakup by Service Provider (USD Million), 2020-2025
6.    Saudi Arabia Health Insurance Market Structure

Key Questions Answered in the Report

In 2019, the health insurance market in Saudi Arabia attained a value of USD 5.81 billion.

In the forecast period of 2020-2025, the market is projected to grow at a CAGR of 5.2%.

By 2025, the market is estimated to attain a value of about USD 7.60 billion.

The major drivers of the market such as rising disposable incomes, increasing population, the growing consumer awareness regarding health, increased government initiatives to improve the healthcare infrastructure and policies, growing prevalence of busy and sedentary lifestyle, and increased living standards are expected to aid the market growth.

The introduction of mandatory unified health insurance scheme and policies to enhance the healthcare infrastructure are the key trends which have been driving the growth of the industry.

The major types of the product in the industry are individual and group.

The major service providers in the market are public and private.

Analyst Review

The Saudi Arabia health insurance market attained a value of USD 5.81 billion in 2019 driven by the health insurance policies of the government. Aided by the increasing spend on healthcare infrastructure, the market is expected to witness a further growth in the forecast period of 2020-2025, growing at a CAGR of 5.2%. The market is projected to reach USD 7.60 billion by 2025.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the market can be segmented into individual and group. On the basis of service provider, the market is divided into public and private.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

Purchase Full Report

Mini Report

$ 1999     $1499
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • Free Update in 180 Days

Single User License

$ 3099     $2499
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • Free Update in 180 Days

Five User License

$ 4099     $3499
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • Free Update in 180 Days

Corporate License

$ 5099     $4499
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • Free Update in 180 Days

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

RIGHT PEOPLE

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

RIGHT METHODOLOGY

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

RIGHT PRICE

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

RIGHT SUPPORT

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports

Global Takaful Market Report and Forecast 2020-2025


Global Microinsurance Market Report and Forecast 2020-2025


Global Bancassurance Market Report and Forecast 2020-2025


Global Insurance Fraud Detection Market Report and Forecast 2020-2025


Global Cyber Insurance Market Report and Forecast 2020-2025


NEWSLETTER