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More than 250 million Indians could have heath insurance policies by 2028

The segment has the potential to grow into a $25 billion market in the next five years, on the back of COVID-led rise in awareness, product innovation and rising disposable income, the investment banking major’s research predicts

January 27, 2023 / 10:13 AM IST
Retail health insurance market to touch close to $25 billion

Retail health insurance market to touch close to $25 billion

India’s health insurance segment could expand to cover 250 million individuals under retail and corporate health insurance policies over the next five years, a study conducted by Avendus Capital has said.

In terms of size, the retail health insurance segment has the potential to become a $25 billion-market in the next five years. This figure does not include government-driven health insurance schemes such as Ayushman Bharat.

Low penetration, coupled with COVID-induced rise in awareness, product innovation and rising disposable income are the key reasons why the investment banking firm expects the retail health segment to grow multifold.

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