Dublin, July 04, 2022 (GLOBE NEWSWIRE) -- The "Hospital Daily Cash Benefit Insurance Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global hospital daily cash benefit insurance market is expected to grow from $36.15 billion in 2021 to $41.58 billion in 2022 at a compound annual growth rate (CAGR) of 15%. The market is expected to grow to $62.16 billion in 2026 at a CAGR of 10.6%.
North America was the largest region in the hospital daily cash benefit insurance market in 2021. Asia Pacific was the second largest market in hospital daily cash benefit insurance market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Rising out of the pocket health care expenditure is expected to drive the hospital's daily cash benefit insurance market. Out-of-pocket payments (OOPs) are direct payments made by individuals to healthcare providers at the time of service use. According to the Centers for Medicare and Medicaid Services (CMS) report on National Health Expenditures 2020, the expenditure grew to $4.1 trillion in 2020 and accounted for a GDP of 19.7%. During hospitalization, OOP hospital expenses include user fees, medicines, diagnostics, procedure charges, transportation, informal charges, and others that have to be borne by the insured. The hospital's daily cash benefit insurance provides a certain fixed amount to the insured during their hospital stay, which the person is free to use as per his/her need. Hence, an increase in out of the pocket health care expenditure aids in the growth of the hospital's daily cash benefit insurance market.
The inability to cover the complete medical treatment expenses is anticipated to hinder the hospital's daily cash benefit insurance market's growth. Hospital cash plans only provide a daily allowance through hospitalization instead, a health insurance plan provides more comprehensive coverage. On average, the hospital's daily cash benefit insurance provides the insured with an amount ranging from $100 to $3000 per day which is not sufficient for the complete coverage of the treatment making it a supplement to the health insurance plans. This scenario is likely to act as a hindrance to the growth of the market.
Companies are collaborating with digital payment platforms for providing hospital daily cash benefits to provide a simple and hassle-free claim process to policyholders for faster reimbursement.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider hospital daily cash benefit insurance market, and compares it with other markets.
Key Topics Covered:
1. Executive Summary
2. Hospital Daily Cash Benefit Insurance Market Characteristics
3. Hospital Daily Cash Benefit Insurance Market Trends And Strategies
4. Impact Of COVID-19 On Hospital Daily Cash Benefit Insurance
5. Hospital Daily Cash Benefit Insurance Market Size And Growth
5.1. Historic Market, 2016-2021, $ Billion
5.2. Forecast Market, 2021-2026F, 2031F, $ Billion
6. Hospital Daily Cash Benefit Insurance Market Segmentation
6.1. Segmentation By Type Of Plan, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Part Of Health Insurance
6.2. Segmentation By Term Of Coverage, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Segmentation By Benefit, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.4. Segmentation By Service Provider, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Hospital Daily Cash Benefit Insurance Market Regional And Country Analysis
7.1. Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
AIA Insurance Group
Zurich Insurance Group
Express Scripts Holding Company
Apollo Munich Health Insurance
Assicurazioni Generali S.p.A.
Star Health Insurance
ICICI Lombard General Insurance
Religare Health Insurance
For more information about this report visit https://www.researchandmarkets.com/r/byz35c
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