Saudi Arabia Health Insurance Industry to 2026 - Featuring Bupa Saudi Arabia, Tawuniya and MedGulf Arabia

The size of the health insurance market in Saudi Arabia was approximately US $ 6 billion in 2020. Health insurance is a type of insurance coverage that periodically collects an amount from the policyholder and pays for medical expenses and surgical procedures incurred by a person in case of medical treatment. Emergency. An effective health insurance plan includes services such as diagnosis and treatment of chronic diseases and conditions, psychiatric care, emergency evacuation and transportation, inpatient and outpatient treatment, maternity, dental care, etc. The main health insurance providers in Saudi Arabia are Bupa Saudi Arabia, Tawuniya, Medgulf Arabia, etc. The growing population and diversification of the country's economy are among the main factors driving the health insurance market in Saudi Arabia. As a result of increasing industrialization and increasing employment opportunities, expatriates from around the world are migrating to the country, which is driving the growth of the health care and health insurance sector. Health insurance in Saudi Arabia aims to alleviate the financial stress that comes with having to pay exorbitant medical bills due to an unexpected illness or injury.

In addition, the Saudi government requires health coverage for all citizens and non-nationals. The country began implementing the mandatory unified health insurance system in July 2016, with the system in its entirety since 2017. It is mandatory for all private sector organizations to provide health insurance to their employees and their families, this includes spouses, daughters single women and men. children under 25 years of age. In addition, factors such as population increase, increase in health care spending, prevalence of various lifestyle-related diseases, improvement of health care infrastructure, etc. they are also stimulating the growth of the health insurance market in Saudi Arabia. Looking ahead, the publisher expects the health insurance market in Saudi Arabia to see strong growth over the next five years.

Mentioned Companies

1. Bupa Saudi Arabia
2. Tawuniya
3. MedGulf Arabia