The global market for health and medical insurance providers not only topped $1 trillion in 2016, coming in at $1.1 trillion, but a new report predicts that it will continue to climb at a dizzying pace.
A BCC Research report estimates market growth—which came in at $1.2 trillion in 2017—to hit $1.6 trillion in 2020. That’s a compound annual growth rate of 8.6 percent for the period 2016–2020.
Categorizing health and medical insurance providers by type—agents and brokers’ direct writing, bancassurance and others—as well as by product and geographical region, the study sought to determine the global market and future demand growth for health and medical insurance providers over the five-year period from 2016 through 2020.
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