India Health Insurance Market By Industry Size, Share, Trends, Opportunity and Forecast 2025 - TechSci Research
India health insurance market is anticipated to register a robust CAGR of 29% during 2021-2025 owing to expanding middle-class population, growing awareness about benefits offered by a health insurance plan, favorable government initiatives and growing expenditure on healthcare. The insurance sector in India is regulated by the Insurance Regulatory and Development Authority of India (IRDAI). The introduction of health insurance schemes by Indian government, which includes personal accident (PA) schemes like Pradhan Mantri Suraksha Bima Yojana (PMSBY), PA cover from Indian Railway Catering and Tourism Corp (IRCTC) and so on, has resulted in increasing penetration of health insurance market in India. Health insurance is a type of insurance coverage that pays for medical, surgical, and sometimes dental expenses of the insurance holder. It protects the insurance holder from unexpected, high medical costs. Health insurance usually requires the covered policyholder to bear...