The France healthcare insurance market is projected to grow from $55.72 Bn in 2022 to $92.91 Bn by 2030, registering a CAGR of 6.6% during the forecast period of 2022 - 2030. The main factors driving the growth would be government support, the ageing population, technological innovation, increased awareness and demand for healthcare insurance. The market is segmented by component, provider, coverage, by health insurance plans and end-user. Some of the major players include Credit Agricole, Groupama, Harmonie Mutuelle, CNP and MGEN.
The France healthcare insurance market is projected to grow from $55.72 Bn in 2022 to $92.91 Bn by 2030, registering a CAGR of 6.6% during the forecast period of 2022 - 2030. French healthcare spending in 2020 was $227 Bn, or around $3,364 per person. In terms of health spending as a proportion of GDP and per person in the past, France has outperformed the EU average. Prior to 2020, the GDP and health spending growth rates were essentially equal. But, in response to the COVID-19 pandemic, which resulted in an 8% decline in GDP, it expanded more quickly.
France has a statutory health insurance (SHI) system that provides residents with universal coverage. Employee and employer contributions, as well as a rising amount of specified taxes on a variety of incomes, are used to fund the system. The two main programmes that offer SHI have the same coverage and benefits policies and are both focused on the agriculture industry. At the national level, funds are consolidated with the potential for program-to-program subsidies. A significant part is also played by voluntary, supplemental private health insurance (VHI). About 95% of people have access to VHI, with 10.5% of people receiving means-tested subsidies and 8% of lower-income people receiving full subsidies.
In France, there are private health insurance options in addition to the public health insurance program. These private insurance plans can offer extra protection for services like dental care and alternative medicine that are not covered by the public health insurance program. A lot of French people can also take advantage of extra health insurance plans, which can offer more coverage for things like hospitalisation, dental work, and vision care. Employers frequently provide or let employees buy these insurance policies. With the top ten companies controlling 84% of premiums in 2020, the life insurance industry is highly concentrated. With 23.8 Bn in premiums or 13.7% of the total premium revenue, Credit Agricole Assurances is maintaining its position as the market leader.
Market Growth Drivers
The France 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 France:
Key Players
To guarantee that healthcare services are available and affordable to everyone, the healthcare insurance industry is strictly controlled in France. The Department of Health and Human Services (HHS) and the Centers for Medicare and Medicaid Services (CMS) are some of the numerous government organisations that are involved in the complicated regulatory environment that governs health insurance coverage.
The Affordable Care Act (ACA), which requires that everyone have access to affordable health insurance, is one of the main laws governing healthcare insurance. The ACA also created the Health Insurance Marketplace, which provides a selection of health insurance policies that adhere to the criteria of the legislation. The Mental Health Parity and Addiction Equity Act (MHPAEA), which mandates that insurance companies give equitable coverage, is an important law that governs health insurance.
Low-income individuals are eligible to free or heavily discounted health insurance, as well as free vision and dental care. If an individual earns $11,040 or less annually, they are regarded as having a poor income. With each additional member in a household, the qualifying income level rises. Almost 9% of the population is thought to be low-income beneficiaries overall, of whom 6% are given means-tested VHI vouchers and 3% are given free state-sponsored insurance.
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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