개인 건강 보험 시장 규모, 점유율, 성장 및 세계 산업 분석 : 유형별, 용도별, 지역별 인사이트 및 예측(2024-2032년)

Growth Factors of individual health insurance Market

The global individual health insurance market continues to expand rapidly as rising chronic diseases, increasing healthcare expenditures, and growing awareness of customized insurance plans push individuals toward private and public coverage options. According to the latest industry data, the market was valued at USD 654.5 million in 2024, is projected to grow to USD 713.0 million in 2025, and is expected to reach USD 1,398.8 million by 2032, exhibiting a strong CAGR of 10.1% during the forecast period. This steady growth reflects a rising willingness among individuals to invest in personalized health insurance solutions that protect them against escalating medical expenses.

In 2024, North America dominated the global market, holding a significant 67.2% share, driven by increasing healthcare spending, advanced insurance infrastructure, and a high adoption rate of individual plans. The region benefits from mature insurance ecosystems and supportive regulatory frameworks, making it the largest contributor to market revenue.

Market Dynamics

Market Drivers

Growing Burden of Chronic Diseases

The rising prevalence of long-term illnesses such as cancer, cardiovascular diseases, diabetes, and neurological conditions has significantly increased hospital visits and medical procedures. The growing geriatric population further intensifies this burden. As per the CDC, 36.7 million new cancer cases were reported in the U.S. from 2022 to 2023. As chronic diseases require regular consultations, tests, medications, and surgeries, individuals increasingly seek insurance for financial protection, driving market demand.

Rising Healthcare Expenditure

The cost of medical care continues to rise globally. According to the Centers for Medicare & Medicaid Services (CMS), U.S. healthcare expenditure reached USD 14,570 per person in 2024, strengthening the need for private health insurance plans that offer extensive coverage. Insurance providers such as UnitedHealth Group and Cigna Healthcare are rapidly introducing new plans tailored for various demographics, further boosting market adoption.

Market Restraints

Increasing Premium Costs

Despite rising demand, high insurance premiums remain a key barrier. Premiums continue to rise due to growing healthcare costs and increased claim volumes. In many developing regions, affordability is a challenge-only 23% of individuals in Brazil held private health insurance in 2020, limiting adoption. Limited awareness of insurance benefits in emerging countries also restricts market penetration.

Market Opportunities

Shift Toward Customer-Centric Insurance Models

Health insurers are increasingly adopting personalized insurance offerings to meet diverse consumer needs. These include age-specific, disease-specific, or region-specific plans. In June 2025, Bajaj Allianz General Insurance launched a state-wise health insurance policy, tailored to localized medical needs and treatment costs. Such strategies enhance customer satisfaction and improve retention rates.

Digital Transformation & Insurtech Growth

Technology-driven innovations-AI, automation, and telehealth integration-are transforming the industry. AI helps detect fraud, automate claims, and personalize policy recommendations. For example, in April 2025, Future Generali India Life Insurance launched an AI platform that helps customers determine accurate coverage levels based on individual health needs.

Market Challenges

Cybersecurity & Data Privacy Concerns

The increasing use of big data in health insurance heightens the risk of cyberattacks. Between 2021 and 2023, 1,213 cases of health insurance fraud were reported in China, reflecting the severity of data misuse and fraud-related risks. Lack of strong anti-insurance fraud laws in several regions further hinders consumer trust.

Segmentation Insights

By Type

Health Maintenance Organization (HMO) plans dominated in 2024, supported by lower premiums and broader coverage. Leadway Health HMO launched an international plan in December 2024 with coverage up to USD 2.0 million, boosting adoption.

Preferred Provider Organization (PPO) plans are projected to grow steadily due to increasing preference for flexible networks.

By Payor

The private insurance segment led in 2024 as 65.4% of U.S. individuals were covered under private insurance, according to the U.S. Census Bureau.

Public plans are also expected to rise as governments expand coverage schemes.

By Mode

The offline segment dominated in 2024 due to personalized services and higher trust, with 927,600 licensed brokers and agencies operating in the U.S. The online segment is growing due to convenience and transparency.

By Distribution Channel

The agents segment led the market with 902,500 licensed agents in the U.S. playing a key role in policy distribution.

Regional Outlook

North America

North America led with USD 439.8 million in 2024, backed by high insurance coverage-92% of U.S. residents had health insurance in 2024. Constant product innovation continues to strengthen regional dominance.

Europe

Increasing chronic disease burden and strong government initiatives promote steady growth. For instance, 6.4 million people in the U.K. were living with heart disease in 2025.

Asia Pacific

The region is set to experience the fastest growth, driven by rising healthcare costs and significant aging populations-China alone has 297 million people aged 60+.

Latin America & Middle East-Africa

Growing awareness, rising healthcare spending, and new regulatory measures support growth across these regions.

Conclusion

From USD 654.5 million in 2024 to USD 713.0 million in 2025, and projected to reach USD 1,398.8 million by 2032, the global individual health insurance market is expanding rapidly. Increasing chronic disease burden, technological innovation, and demand for personalized insurance solutions will continue shaping the industry's future.

Segmentation By Type

• Health Maintenance Organization (HMO)
• Preferred Provider Organization (PPO)
• Exclusive Provider Organization (EPO)
• Others

By Payor

• Private
• Public

By Mode

• Offline
• Online

By Distribution Channel

• Direct Sales
• Agents
• Brokers
• Banks
• Others

By Region

• North America (By Type, Payor, Mode, Distribution Channel, and Country)
  • U.S.
  • Canada
• Europe (By Type, Payor, Mode, Distribution Channel, and Country/Sub-region)
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Scandinavia
  • Rest of Europe
• Asia Pacific (By Type, Payor, Mode, Distribution Channel, and Country/Sub-region)
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America (By Type, Payor, Mode, Distribution Channel, and Country/Sub-region)
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa (By Type, Payor, Mode, Distribution Channel, and Country/Sub-region)
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities
• 3.4. Market Trends

4. Key Insights

• 4.1. Insights on Health Insurance Penetration, Key Countries/Regions
• 4.2. Overview of Regol atory Scenario, Key Countries/Regions
• 4.3. New Product Launches, Key Players
• 4.4. Key Industry Developments - Mergers, Acquisitions & Partnerships

5. Global Individual Health Insurance Market Analysis, Insights and Forecast, 2019-2032

• 5.1. Market Analysis, Insights and Forecast - By Type
  • 5.1.1. Health Maintenance Organization (HMO)
  • 5.1.2. Preferred Provider Organization (PPO)
  • 5.1.3. Exclusive Provider Organization (EPO)
  • 5.1.4. Others
• 5.2. Market Analysis, Insights and Forecast - By Payor
  • 5.2.1. Private
  • 5.2.2. Public
• 5.3. Market Analysis, Insights and Forecast - By Mode
  • 5.3.1. Offline
  • 5.3.2. Online
• 5.4. Market Analysis, Insights and Forecast - By Distribution Channel
  • 5.4.1. Direct Sales
  • 5.4.2. Agents
  • 5.4.3. Brokers
  • 5.4.4. Banks
  • 5.4.5. Others
• 5.5. Market Analysis, Insights and Forecast - By Region
  • 5.5.1. North America
  • 5.5.2. Europe
  • 5.5.3. Asia Pacific
  • 5.5.4. Latin America
  • 5.5.5. Middle East & Africa

6. North America Individual Health Insurance Market Analysis, Insights and Forecast, 2019-2032

• 6.1. Market Analysis, Insights and Forecast - By Type
  • 6.1.1. Health Maintenance Organization (HMO)
  • 6.1.2. Preferred Provider Organization (PPO)
  • 6.1.3. Exclusive Provider Organization (EPO)
  • 6.1.4. Others
• 6.2. Market Analysis, Insights and Forecast - By Payor
  • 6.2.1. Private
  • 6.2.2. Public
• 6.3. Market Analysis, Insights and Forecast - By Mode
  • 6.3.1. Offline
  • 6.3.2. Online
• 6.4. Market Analysis, Insights and Forecast - By Distribution Channel
  • 6.4.1. Direct Sales
  • 6.4.2. Agents
  • 6.4.3. Brokers
  • 6.4.4. Banks
  • 6.4.5. Others
• 6.5. Market Analysis, Insights and Forecast - By Country
  • 6.5.1. U.S.
  • 6.5.2. Canada

7. Europe Individual Health Insurance Market Analysis, Insights and Forecast, 2019-2032

• 7.1. Market Analysis, Insights and Forecast - By Type
  • 7.1.1. Health Maintenance Organization (HMO)
  • 7.1.2. Preferred Provider Organization (PPO)
  • 7.1.3. Exclusive Provider Organization (EPO)
  • 7.1.4. Others
• 7.2. Market Analysis, Insights and Forecast - By Payor
  • 7.2.1. Private
  • 7.2.2. Public
• 7.3. Market Analysis, Insights and Forecast - By Mode
  • 7.3.1. Offline
  • 7.3.2. Online
• 7.4. Market Analysis, Insights and Forecast - By Distribution Channel
  • 7.4.1. Direct Sales
  • 7.4.2. Agents
  • 7.4.3. Brokers
  • 7.4.4. Banks
  • 7.4.5. Others
• 7.5. Market Analysis, Insights and Forecast - By Country/Sub-region
  • 7.5.1. U.K.
  • 7.5.2. Germany
  • 7.5.3. France
  • 7.5.4. Spain
  • 7.5.5. Italy
  • 7.5.6. Scandinavia
  • 7.5.7. Rest of Europe

8. Asia Pacific Individual Health Insurance Market Analysis, Insights and Forecast, 2019-2032

• 8.1. Market Analysis, Insights and Forecast - By Type
  • 8.1.1. Health Maintenance Organization (HMO)
  • 8.1.2. Preferred Provider Organization (PPO)
  • 8.1.3. Exclusive Provider Organization (EPO)
  • 8.1.4. Others
• 8.2. Market Analysis, Insights and Forecast - By Payor
  • 8.2.1. Private
  • 8.2.2. Public
• 8.3. Market Analysis, Insights and Forecast - By Mode
  • 8.3.1. Offline
  • 8.3.2. Online
• 8.4. Market Analysis, Insights and Forecast - By Distribution Channel
  • 8.4.1. Direct Sales
  • 8.4.2. Agents
  • 8.4.3. Brokers
  • 8.4.4. Banks
  • 8.4.5. Others
• 8.5. Market Analysis, Insights and Forecast - By Country/Sub-region
  • 8.5.1. Japan
  • 8.5.2. Australia
  • 8.5.3. China
  • 8.5.4. India
  • 8.5.5. Southeast Asia
  • 8.5.6. Rest of Asia Pacific

9. Latin America Individual Health Insurance Market Analysis, Insights and Forecast, 2019-2032

• 9.1. Market Analysis, Insights and Forecast - By Type
  • 9.1.1. Health Maintenance Organization (HMO)
  • 9.1.2. Preferred Provider Organization (PPO)
  • 9.1.3. Exclusive Provider Organization (EPO)
  • 9.1.4. Others
• 9.2. Market Analysis, Insights and Forecast - By Payor
  • 9.2.1. Private
  • 9.2.2. Public
• 9.3. Market Analysis, Insights and Forecast - By Mode
  • 9.3.1. Offline
  • 9.3.2. Online
• 9.4. Market Analysis, Insights and Forecast - By Distribution Channel
  • 9.4.1. Direct Sales
  • 9.4.2. Agents
  • 9.4.3. Brokers
  • 9.4.4. Banks
  • 9.4.5. Others
• 9.5. Market Analysis, Insights and Forecast - By Country/Sub-region
  • 9.5.1. Brazil
  • 9.5.2. Mexico
  • 9.5.3. Rest of Latin America

10. Middle East & Africa Individual Health Insurance Market Analysis, Insights and Forecast, 2019-2032

• 10.1. Market Analysis, Insights and Forecast - By Type
  • 10.1.1. Health Maintenance Organization (HMO)
  • 10.1.2. Preferred Provider Organization (PPO)
  • 10.1.3. Exclusive Provider Organization (EPO)
  • 10.1.4. Others
• 10.2. Market Analysis, Insights and Forecast - By Payor
  • 10.2.1. Private
  • 10.2.2. Public
• 10.3. Market Analysis, Insights and Forecast - By Mode
  • 10.3.1. Offline
  • 10.3.2. Online
• 10.4. Market Analysis, Insights and Forecast - By Distribution Channel
  • 10.4.1. Direct Sales
  • 10.4.2. Agents
  • 10.4.3. Brokers
  • 10.4.4. Banks
  • 10.4.5. Others
• 10.5. Market Analysis, Insights and Forecast - By Country/Sub-region
  • 10.5.1. GCC
  • 10.5.2. South Africa
  • 10.5.3. Rest of Middle East & Africa

11. Competitive Analysis

• 11.1. Global Market Share Analysis (2024)
• 11.2. Company Profiles
  • 11.2.1. China Post Life Insurance Co., Ltd.
    • 11.2.1.1. Overview
    • 11.2.1.2. Products
    • 11.2.1.3. SWOT Analysis
    • 11.2.1.4. Recent Developments
    • 11.2.1.5. Strategies
    • 11.2.1.6. Financials (Based on Availability)
  • 11.2.2. UnitedHealth Group
    • 11.2.2.1. Overview
    • 11.2.2.2. Products
    • 11.2.2.3. SWOT Analysis
    • 11.2.2.4. Recent Developments
    • 11.2.2.5. Strategies
    • 11.2.2.6. Financials (Based on Availability)
  • 11.2.3. AIA Group Ltd.
    • 11.2.3.1. Overview
    • 11.2.3.2. Products
    • 11.2.3.3. SWOT Analysis
    • 11.2.3.4. Recent Developments
    • 11.2.3.5. Strategies
    • 11.2.3.6. Financials (Based on Availability)
  • 11.2.4. Bupa Global
    • 11.2.4.1. Overview
    • 11.2.4.2. Products
    • 11.2.4.3. SWOT Analysis
    • 11.2.4.4. Recent Developments
    • 11.2.4.5. Strategies
    • 11.2.4.6. Financials (Based on Availability)
  • 11.2.5. Elevance Health
    • 11.2.5.1. Overview
    • 11.2.5.2. Products
    • 11.2.5.3. SWOT Analysis
    • 11.2.5.4. Recent Developments
    • 11.2.5.5. Strategies
    • 11.2.5.6. Financials (Based on Availability)
  • 11.2.6. AXA
    • 11.2.6.1. Overview
    • 11.2.6.2. Products
    • 11.2.6.3. SWOT Analysis
    • 11.2.6.4. Recent Developments
    • 11.2.6.5. Strategies
    • 11.2.6.6. Financials (Based on Availability)
  • 11.2.7. Cigna Healthcare
    • 11.2.7.1. Overview
    • 11.2.7.2. Products
    • 11.2.7.3. SWOT Analysis
    • 11.2.7.4. Recent Developments
    • 11.2.7.5. Strategies
    • 11.2.7.6. Financials (Based on Availability)
  • 11.2.8. CVS Health
    • 11.2.8.1. Overview
    • 11.2.8.2. Products
    • 11.2.8.3. SWOT Analysis
    • 11.2.8.4. Recent Developments
    • 11.2.8.5. Strategies
    • 11.2.8.6. Financials (Based on Availability)
  • 11.2.9. Allianz
    • 11.2.9.1. Overview
    • 11.2.9.2. Products
    • 11.2.9.3. SWOT Analysis
    • 11.2.9.4. Recent Developments
    • 11.2.9.5. Strategies
    • 11.2.9.6. Financials (Based on Availability)