Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Saudi Arabia New Energy Vehicle Market, The UAE Health Insurance Market size was valued at around USD 8.7 billion in 2024 and is projected to reach USD 12.7 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.5% during the forecast period, i.e., 2025-30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Saudi Arabia New Energy Vehicle Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

• Forecast Period: 2025-2030
• Market Size in 2024: USD 8.7 billion
• CAGR (2025-2030): 6.5%

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UAE Health Insurance Market Segmentation Breakdown:

The Saudi Arabia New Energy Vehicle Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

By Product Type

• Individual- Market Size & Forecast 2020-2030, USD Million
• Group - Market Size & Forecast 2020-2030, USD Million

About 70% market share is held by the group segment that dominates the UAE Health Insurance Market.

By Service Providers

• Public- Market Size & Forecast 2020-2030, USD Million
• Private- Market Size & Forecast 2020-2030, USD Million

With roughly 65% market share, the private sector leading the UAE Health Insurance Market. As expatriates make up almost 88% of the UAE population, so there is a significant need for comprehensive and specialized healthcare services.

By Distribution Channel

• Agent - Market Size & Forecast 2020-2030, USD Million
• Banks - Market Size & Forecast 2020-2030, USD Million
• Online - Market Size & Forecast 2020-2030, USD Million
• Others - Market Size & Forecast 2020-2030, USD Million

Geographical Growth Insights:

By Region

• Dubai
• Abu Dhabi
• Sharjah
• Northern Emirates

MarkNtel Advisors Highlights Key Market Drivers for UAE Health Insurance Market:

Increasing Prevalence of Lifestyle-Related Diseases – The steady increase in the prevalence of lifestyle diseases such as; diabetes, hypertension, and other cardiovascular diseases, is one of the key factors supporting the UAE Health Insurance Market. The UAE has a high prevalence of diabetes, with more than 1 million people living with it. Additionally, unhealthy eating habits, stress, physical inactivity, and poor lifestyle choices constitute the major causes of hypertension, which affects roughly 30% of adults. The continuous and costly medical care that many chronic conditions require has pressed residents to look for comprehensive health insurance covering such procedures as expensive therapies, drugs, and routine checkups. Chronic diseases account for approximately 60% of healthcare, insurers offer custom-designed policies to provide unique needs that propel further market development considering the burden in the United Arab Emirates.

A Comprehensive Analysis of Leading Companies in UAE Health Insurance Market

• AXA Gulf Insurance
• DAMAN Health Insurance
• Emirates Insurance Company
• Abu Dhabi National Insurance Company
• Ras Al Khaimah National Insurance Company
• Dubai Islamic Insurance and Reinsurance Co.
• Oman Insurance Company
• Alliance Insurance
• Orient Insurance
• Islamic Arab Insurance Company
• Al Ain Al Ahilia Insurance Company
• Al Buhaira National Insurance Company
• Others

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UAE Health Insurance Market Recent Development:

• December 2024: The UAE's Ministry of Human Resources and Emiratisation (MoHRE)launched an affordable health insurance package for private sector employees and domestic workers, ensuring comprehensive coverage across the UAE, starting January 1, 2025.
• April 2024: AXA and Daman partneredto launch a new Global Healthcare Plan, offering enhanced health benefits and international services to UAE residents, expanding global reach, and improving healthcare access.

What are the growth Opportunity driving the UAE Health Insurance Market?

Mandatory Health Insurance Policies Introduced by the Government – With the UAE government making it mandatory for individuals to acquire health insurance, the health insurance market sees a lot of significant opportunities. Laws such as Health Insurance Law No. 11 of 2013 in Dubai and Thiqa in Abu Dhabi have guaranteed health coverage to all citizens of that country and foreigners. The employers in Dubai have a legal obligation to cover health for their staff with dependents covered under family or individual policies. The insured population has grown dramatically as a result of this regulation, Dubai had achieved nearly 100% compliance in 2024. Insurance companies are taking advantage of this by providing senior citizens, families, and expatriates with specialized plans. A strong framework for long-term market growth is offered by these regulations.

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About Us –

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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