The global health insurance market is poised for robust expansion, projected to grow from $29.04 billion in 2024 to $31.68 billion in 2025, representing a compound annual growth rate (CAGR) of 9.1%, according to The Business Research Company.
Looking further ahead, the market is expected to reach $44.29 billion by 2029, maintaining a CAGR of 8.7%.
Key Drivers of Growth
The market’s growth is being driven by several factors:
Cross-border medical travel as patients seek cost-effective or specialized care abroad.
Rising demand for elective procedures in international healthcare destinations.
Collaboration between insurers and global hospitals, enabling broader access to services.
Emerging trends, such as an aging global population seeking overseas care, the expansion of telehealth consultations, and increasing availability of international insurance coverage, are expected to further support market growth in the coming years.
Regional Outlook
In 2024, North America led the international health insurance market in size. However, the Asia-Pacific (APAC) region is forecast to experience the fastest growth over the forecast period, driven by rising healthcare demand, improving medical infrastructure, and growing awareness of international coverage options.
With these trends, the global health insurance sector is well-positioned to expand significantly, offering greater access to international healthcare services and enhanced protection for travelers and expatriates alike.
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