About Cancer Insurance
Cancer a type medical disease that is one of major reason for increasing death rate cross the globe. Nevertheless medical advancements have increased the chances of early detection and successful treatment, these treatments are very costly. Cancer policies can be help at this moment. Cancer insurance policy covers all stages of cancer right from the early stages to the advanced ones and this policy also defines types of the cancers to be insured. Policy holder can claim this policy only as per the benefits mentioned in that and this process is comparatively simple. Regular health insurance reimburses only hospitalization costs, the cancer policy payout can be used to meet any related cancer therapy expenses.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Cancer Insurance market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
China Life Insurance (China), PingAn (China), Aviva (United Kingdom), Legal & General (United Kingdom), AXA (France), Prudential Financial (United States), Aegon (Netherlands), Allianz (Germany), AIG (United States), UnitedHealthcare (United States) and Zurich insurance (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are MetLife (United States), Dai-ichi Mutual Life Insurance (Japan) and Sun Life Financial (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Cancer Insurance market by Type (Lung Cancer and Liver Cancer), Application (Children and Adult) and Region.
On the basis of geography, the market of Cancer Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing transparency in terms of insurance and Integrating solutions through data analytics and modeling techniques
Market Growth Drivers:
Health security standards advancement, Rising chronic diseases like cancer among population and Increasing medical care expenses
Challenges:
competitive market and high threat of new entrant
Restraints:
Undulating economic conditions and comparatively less profit margins
Opportunities:
Digitization in accessing policies and Improving disposable income
Market Leaders and their expansionary development strategies
In March 2023, Seagen Inc. is finally being acquired — by Pfizer Inc. The USD43 billion proposed deal should quell investor calls for Pfizer to do something splashier with its Covid cash, and could put Pfizer into a leadership position in oncology. But Pfizer still has a lot of work to do to convince investors that its huge bet on Seagen is sound.
In August 2023,Swiss Re has partnered with composite insurer, Income Insurance Limited (Income Insurance), on a first-in-market cancer insurance product that offers a guaranteed post-cancer term option and support throughout the journey from diagnosis to recovery.
Key Target Audience
Health maintenance organization, Technology, equipment, and solution providers, Private utility players, Government and research organizations, Distribution consultancies and End users ( public and private sectors)
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.