Current features of the evolution of the global health insurance market [Articol]

Abstract

Purpose of the article: The purpose of this article was to present the basic trends in the evolution of the global health insurance market. Methodology: The research methodology included a systematic analysis of the specialized literature and consulting the opinions of experts in the field. Conclusions: The global health insurance market (also called medical insurance) is a space dedicated to the trading of financial instruments intended to provide financial coverage for costly or unexpected medical expenses, i.e., the payment of benefits as a result of illness or bodily injury. The size of the analyzed market for 2025 is estimated by various sources in the range of 2.32-2.69 trillion USD, which constitutes a share of 28.3-32.8 percent in the global insurance market. Experts forecasts speak of different future visions of the Compound Annual Growth Rate from 3.09% to 9.7%. This increase is due to the influence of a complex of factors, the main ones being the increase in the number of elderly people, the spread of chronic conditions such as cancer, diabetes, and others among the population, and, as a consequence, rising healthcare costs. Likewise, an important driver is technological progress through the implementation of digital technologies, such as artificial intelligence (AI) and telemedicine, which improve risk assessment, claims processing, and customer engagement. In some countries, changes are taking place in the field of policies and regulations, which alter the operating landscape of the analyzed market. At the same time, consumers of these insurance products are increasingly demanding personalized insurance offers that meet their specific needs. Originality: The article presents a synthetic view of the quantitative and qualitative trends in the development of the global health insurance market.