UK Health Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The UK Health Insurance Market, Encompassing Public and Private Hospitals, is Expected To Grow Due To Increased NHS Waiting Times and Private Sector Referrals, Making Healthcare Insurance A Key Public Issue. Despite Economic Instability, the Demand for Affordable Health Policies and Employer-Sponsored Health Plans Has Surged, With A Shift in Consumer Attitudes Towards Private Medical Insurance. However, the Lack of Competition Among Private Hospitals Has Led To Increased Claims Costs and Premium Growth. Key Players Include AXA, BUPA, WPA, Simply Health, and Freedom Health Insurance.

UK Health Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

UK Health Insurance Industry Overview

Despite being a concentrated market, the lack of competition among private hospitals has constrained insurers' bargaining power, thereby resulting in inflated claims costs. Coupled with the reduction in customer numbers, this has been the biggest driver for premium growth, as insurers responded to the burden on profitability by raising prices for customers.

AA, Aviva, BUPA, Direct Line, RAC, Admiral, AXA, and Sainsbury's bank were among the leading insurance companies in the United Kingdom in Q2-2022 by brand awareness. With this, NHS reforms are expected to advance the role of private healthcare in the insurance sector creating an opportunity for these firms to increase market share in Health and Medical insurance.

UK Health Insurance Market Leaders

  1. AXA

  2. BUPA

  3. WPA

  4. Simply Health

  5. Freedom Health Insurance

  6. *Disclaimer: Major Players sorted in no particular order
UK Health Insurance Market Concentration

UK Health And Medical Insurance Market Report Snapshots

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