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UAE Health Insurance Market Overview and Insights:
According to MarkNtel Advisors Report, the UAE Health Insurance Market size was valued at around USD 8.7 billion in 2024 and is projected to reach USD 12.7 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.5% during the forecast period, i.e., 2025-30.UAE Health Insurance Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
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Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2020-23
- Base Year: 2024
- Forecast Period: 2025-2030
What are the major challenges facing the UAE Health Insurance Market?
Increasing Instances of Insurance Fraud Affecting Industry's Integrity – One of the major obstacles for the health insurance market in the UAE is the increase in fraudulent insurance claims, which have led to the market's low integrity. Fraudulent in both public and private hospitals include making bills where no service was ever provided, faking the patient data, and inflating the medical bills. At these hospitals, the country's bigger dimension of the public and private health insurers is found encountering a massive financial burden due to those frauds. In the year 2021, healthcare fraud will cost the country between 5 to 10% of the total healthcare budget, leaving a figure going into billions of dirhams every year. It is an added burden on the already stretched healthcare systems because profiles for honest policyholders have to be increased, and profitability in insurers is reduced.Who are the Key Players Operating in the UAE Health Insurance Industry?
The top companies of the UAE Health Insurance market ruling the industry are:- AXA Gulf Insurance
- DAMAN Health Insurance
- Emirates Insurance Company
- Abu Dhabi National Insurance Company
- Ras Al Khaimah National Insurance Company
- Dubai Islamic Insurance and Reinsurance Co.
- Oman Insurance Company
- Alliance Insurance
- Orient Insurance
- Islamic Arab Insurance Company
- Al Ain Al Ahilia Insurance Company
- Al Buhaira National Insurance Company
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What is Included in UAE Health Insurance Market Segmentation?
The report has segmented the market into the following categories:By Product Type
- Individual- Market Size & Forecast 2020-2030, USD Million
- Group - Market Size & Forecast 2020-2030, USD Million
About 70% market share is held by the group segment that dominates the UAE Health Insurance Market. The country’s sizable expat population and the obligatory health insurance plans for workers and their dependents which are in place in Dubai and Abu Dhabi are the main causes of this dominance. Group insurance plans are becoming increasingly popular because employers are being forced to offer full health coverage. The ability to modify policies to organizational requirements also contributes to the segment's growth & expansion.
By Service Providers
- Public- Market Size & Forecast 2020-2030, USD Million
- Private- Market Size & Forecast 2020-2030, USD Million
By Distribution Channel
- Agent - Market Size & Forecast 2020-2030, USD Million
- Banks - Market Size & Forecast 2020-2030, USD Million
- Online - Market Size & Forecast 2020-2030, USD Million
- Others - Market Size & Forecast 2020-2030, USD Million
By Region
- Dubai
- Abu Dhabi
- Sharjah
- Northern Emirates
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Frequently Asked Questions (FAQs)-
- What are the industry's overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- How has the UAE Health Insurance industry been evolving in terms of geography & adoption?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
About US:
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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