Egypt's healthcare insurance market is projected to grow from $5.67 Bn in 2022 to $11.39 Bn by 2030, registering a CAGR of 9.1% during the forecast period of 2022-2030. The main factors driving the growth would be increasing population, government initiatives, technological advancements and rising awareness. The market is segmented by the component, provider, coverage, health insurance plans and end-user. Some of the major players include Misr Insurance, Suez Canal Life Insurance, Mohandes Insurance, Allianz and BUPA.
Egypt's healthcare insurance market is projected to grow from $5.67 Bn in 2022 to $11.39 Bn by 2030, registering a CAGR of 9.1% during the forecast period of 2022-30. In 2019, the healthcare expenditure in Egypt was 4.74% of the GDP or $150 per person. In accordance with the UN's Sustainable Development Goals (SDGs), the Egyptian government has made improvements to healthcare and population health a primary goal.
All Egyptians have access to a publicly funded healthcare system that offers essential medical treatments. The level of care provided, however, varies greatly depending on the area and type of facility. As a result, a lot of Egyptians decide to supplement their government-provided healthcare by buying private health insurance.
Several domestic and foreign insurance companies provide private health insurance in Egypt. A variety of medical costs, including hospitalisation, outpatient care, prescription medications, and diagnostic tests, may be covered by these policies. Also, certain insurance plans could provide extra benefits like vision and dental coverage. In Egypt, employers may also include health insurance in their list of perks for staff members. In this situation, the company normally pays a portion of the premium, with the employee being responsible for the remaining amount.
Market Growth Drivers
The Egypt healthcare Insurance market is expected to be driven by factors such as:
Market Restraints
The following factors are expected to limit the growth of the healthcare insurance market in Egypt:
Key Players
August 2020- The Public Health Care Authority created a telemedicine services application to offer online medical services in the Egyptian health insurance system, according to a ministry of health announcement from August 2020. The 'Al-Balto' application offers medical services in both Arabic and English in fields such as paediatrics, dermatology, obstetrics, gynaecology, nutrition, psychiatry, and venereology illnesses.
1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Provider (Revenue, USD Billion):
It mainly includes healthcare insurance that provides safety against the increasing cost of medical treatments and in case of health emergencies such as critical illnesses. Hence, it is the best way to safeguard medical expenses.
By Coverage Type (Revenue, USD Billion):
In terms of sales and market share, it is anticipated to rule the market over the projection period. This is explained by a number of benefits provided by life insurance, including guaranteed death payout and permanent coverage. Additionally, investing in these kinds of plans enables working professionals to save taxes
By Health Insurance Plans (Revenue, USD Billion):
By Demographics (Revenue, USD Billion):
There is a high prevalence of lifestyle disease in the adult population that can increase health risks in the future. The population is more prone to cardiac and other diseases that require hospitalization. Healthcare insurance plans for seniors are more of a necessity, especially in the case of retirement. Also, it carries various advantages such as no medical screening before buying plans, includes coverage of the outpatient department, and provides the benefit of fee annual checkups along with lifetime renewability.
By End-user (Revenue, USD Billion):
A large number of people buy individual health plans as they are also customizable. Also, it gives more control over deductibles, co-pays, and benefits limits and is not dependent on employment status.
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