Saudi Arabia Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

Saudi Arabia Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

  • April 2019 •
  • 89 pages •
  • Report ID: 5765051 •
  • Format: PDF
The Saudi Arabia health insurance market is currently exhibiting strong growth.

Health insurance is a type of insurance coverage that periodically charges a sum from the policyholder and pays for medical and surgical expenses incurred by the individual in case of a medical emergency. An efficient health insurance plan includes services such as diagnosis and treatment for chronic illnesses and conditions, psychiatric care, emergency evacuation and transportation, in-patient and out-patient treatment, maternity, dental care, etc. The key health insurance providers in Saudi Arabia are Bupa Saudi Arabia, Tawuniya, MedGulf Arabia, etc.

The increasing population and diversification of the nation’s economy are among the key factors driving the Saudi Arabia health insurance market. Resulting from the growing industrialization and increasing job opportunities, expatriates from all around the globe are migrating to the country, catalyzing the growth of the healthcare and health insurance sector. Health insurance in Saudi Arabia is oriented towards easing the financial stress that comes with having to pay exorbitant medical bills due to unexpected illness or injury. Additionally, the Saudi Arabian government mandates health coverage for all nationals and non-nationals. The country began implementing the mandatory unified health insurance scheme in July 2016, with the system completely in place since 2017. It is compulsory 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. Furthermore, factors such as rising population, increasing healthcare expenditures, growing prevalence of various life style diseases, improving healthcare infrastructure, etc. are also catalyzing the growth of the health insurance market in Saudi Arabia.

This latest report provides a deep insight into the Saudi Arabia 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 Saudi Arabia heath insurance market in any manner.

Report Coverage:
Historical, Current and Future Market Trends

Market Breakup by Type:
Individual
Group

Market 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:
How has the Saudi Arabia health insurance market performed so far and how will it perform in the coming years?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the service provider?
What are the various stages in the value chain of the Saudi Arabia health insurance industry?
What are the key driving factors and challenges in the Saudi Arabia health insurance industry?
What is the structure of the Saudi Arabia health insurance industry and who are the key players?
What is the degree of competition in the Saudi Arabia health insurance industry?
What are the profit margins in the Saudi Arabia health insurance industry?

Report Coverage:
Base Year Considered: 2018
Historical Data Coverage: 2013-2018
Market Forecast: 2019-2024
Currency: US$
Geography Covered: Saudi Arabia
Segments Covered: Type and Service Provider

Report Customization: Although the analyst has tried to cover everything in the health insurance market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20 man hours of free customization for each report.