Global Health Insurance Market to Reach $6.2t by 2032

The global health insurance market is on a path of remarkable expansion. Valued at a staggering $2.6 trillion in 2025, it is projected to skyrocket to $6.2 trillion by 2032, with a compound annual growth rate of 9.8% in the forecast period, as per Allied Market Research.

Key catalysts for this growth are the ageing population and the increasing prevalence of chronic diseases. The ageing demographic requires more medical attention and long-term care, while the rise in chronic conditions like diabetes and heart disorders is fueling the need for comprehensive health coverage. Additionally, escalating healthcare expenditures around the world are also contributing to the market’s upward trend.

In terms of market breakdown, the medical insurance segment led the market in 2024, indicative of the high demand for such coverage. Among coverage models, preferred provider organisations (PPOs) were the top pick. From an end-user standpoint, group insurance plans had the largest market share and adults constituted the dominant demographic segment. These insights provide a comprehensive overview of the current state and future prospects of the global health insurance market.

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