U.S. Medicare Supplement Health Insurance Market 2023 to 2030: Benefits of Medigap Insurance & Technological Advancements Drives Growth
U.S. Medicare Supplement Health Insurance Market
Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "U.S. Medicare Supplement Health Insurance Market Size, Share & Trends Analysis Report By Demographic (Individuals Aged 65 Or Older, Individuals Aged Under 65 With An Eligible Disability), By Sales Channel, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. Medicare Supplement Health Insurance market is projected to expand at a CAGR of 5.00% over the forecast period, reaching a size of USD 39.26 billion by 2030. Technological advancements, including insurtech and online platforms, are expected to drive significant market growth. However, limited awareness among individuals remains a challenge.
Key Market Highlights:
-
Individuals aged 65 or over dominated the market in 2022, accounting for the highest market share.
-
The individuals aged under 65 with an eligible disability segment are expected to experience significant growth.
-
The agents segment held the highest market share in 2022, reflecting maximum sales through this sales channel.
-
Online sales through websites are witnessing substantial growth.
-
The South U.S. region dominated the market due to a widespread insured population.
-
The West region is expected to undergo maximum growth, driven by increased healthcare spending.
These findings are part of a comprehensive report on the U.S. Medicare Supplement Health Insurance market, highlighting key market segments, sales channels, and regional analysis.
About the Report:
The U.S. Medicare Supplement Health Insurance Market report provides comprehensive analysis and forecasts for the industry. It covers key market segments, sales channels, and regional analysis. The report also highlights the impact of technological advancements and challenges in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $26.97 Billion |
| Forecasted Market Value (USD) by 2030 | $39.26 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. U.S. Medicare Supplement Health Insurance Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Increasing Sales Channel for Insurance
3.4.1.2. High Healthcare Costs
3.4.1.3. Benefits of Medigap insurance
3.4.2. Market restraint analysis
3.4.2.1. Lack of Awareness about the Medigap Insurance
3.5. U.S. Medicare Supplement Health Insurance Market Analysis Tools
