Saudi Arabia Health Insurance Industry to 2026

BusinessWireNovember 19, 20217 min

The┬á“Saudi Arabia Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″┬áreport has been added to┬á’s┬áoffering.

The Saudi Arabia health insurance market reached a value of around US$ 6 Billion in 2020. Health insurance is a type of insurance coverage that periodically charges a sum from the policyholder and pays for medical and surgical expenses incurred by the individual in case of a medical emergency. An efficient health insurance plan includes services such as diagnosis and treatment for chronic illnesses and conditions, psychiatric care, emergency evacuation and transportation, in-patient and out-patient treatment, maternity, dental care, etc. The key health insurance providers in Saudi Arabia are Bupa Saudi Arabia, Tawuniya, MedGulf Arabia, etc. The increasing population and diversification of the nation’s economy are among the key factors driving the Saudi Arabia health insurance market. Resulting from the growing industrialization and increasing job opportunities, expatriates from all around the globe are migrating to the country, catalyzing the growth of the healthcare and health insurance sector. Health insurance in Saudi Arabia is oriented towards easing the financial stress that comes with having to pay exorbitant medical bills due to unexpected illness or injury.

Additionally, the Saudi Arabian government mandates health coverage for all nationals and non-nationals. The country began implementing the mandatory unified health insurance scheme in July 2016, with the system completely in place since 2017. It is compulsory for all private sector organisations to provide health insurance to their employees as well as their dependants – this includes spouse, unmarried daughters and male children below 25 years of age. Furthermore, factors such as rising population, increasing healthcare expenditures, growing prevalence of various life style diseases, improving healthcare infrastructure, etc. are also catalyzing the growth of the health insurance market in Saudi Arabia. Looking forward, the publisher expects the Saudi Arabia health insurance market to exhibit strong growth during the next five years.

Companies Mentioned

  • Bupa Saudi Arabia
  • Tawuniya
  • MedGulf Arabia

Key Questions Answered in This Report:

  • How has the Saudi Arabia health insurance market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the Saudi Arabia health insurance market?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the service provider?
  • What are the various stages in the value chain of the Saudi Arabia health insurance industry?
  • What are the key driving factors and challenges in the Saudi Arabia health insurance industry?
  • What is the structure of the Saudi Arabia health insurance industry and who are the key players?
  • What is the degree of competition in the Saudi Arabia health insurance industry?
  • What are the profit margins in the Saudi Arabia health insurance industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Saudi Arabia Heath Insurance Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Breakup by Type

5.5 Market Breakup by Service Provider

5.6 Market Forecast

5.7 SWOT Analysis

5.7.1 Overview

5.7.2 Strengths

5.7.3 Weaknesses

5.7.4 Opportunities

5.7.5 Threats

5.8 Value Chain Analysis

5.9 Porters Five Forces Analysis

5.9.1 Overview

5.9.2 Bargaining Power of Buyers

5.9.3 Bargaining Power of Suppliers

5.9.4 Degree of Competition

5.9.5 Threat of New Entrants

5.9.6 Threat of Substitutes

5.10 PESTEL Analysis

5.10.1 Political

5.10.2 Economic

5.10.3 Social

5.10.4 Legal

5.10.5 Environmental

5.10.6 Technological

5.11 Price Analysis

6 Market Breakup by Type

6.1 Individual

6.1.1 Market Trends

6.1.2 Market Forecast

6.2 Group

6.2.1 Market Trends

6.2.2 Market Forecast

7 Market Breakup by Service Provider

7.1 Public

7.1.1 Market Trends

7.1.2 Market Forecast

7.2 Private

7.2.1 Market Trends

7.2.2 Market Forecast

8 Government Regulations

9 Strategic Recommendations

10 Competitive Landscape

10.1 Market Structure

10.2 Key Players

10.3 Profiles of Key Players

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