Seven-year critical Illness boom predicted as global big guns ready new offerings

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Seven-year critical Illness boom predicted as global big guns ready new offerings

A global boom in Critical Illness products and strategies is underway with the industry set for dramatic increase across the next seven years, according to a new study.

Key developments in the Critical Illness Insurance Market including organic and inorganic growth strategies are driving the market forward, according to a report published by Insight Partners.

The report highlights that various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations.

These activities have "paved way for the expansion of business and customer base of market players", Insight states. The report, which also outlines growth through to 2017 includes a new analysis of the impact of the covid-19 pandemic on the industry.

Regional growth

Among the 'Promising Regions & Countries' mentioned in report, North America, Europe, Asia-Pacific, Latin America and The Middle East & Africa can all expect growth spurts.

The report analyses factors affecting the Critical Illness Insurance Market from further evaluates market dynamics affecting the market during the forecast period i.e. drivers, restraints, opportunities, and future trend.

The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Critical Illness Insurance Market in these regions.

Insight states that it has provided a "detailed overview of the industry including both qualitative and quantitative information" including market size and forecast estimates from the year 2018 to 2027 with respect to five major regions.

Major players

Among the major market players identified by Insight include companies such as Aegon N.V., Allianz SE, Aviva plc, Axa S.A, Legal & General Group plc, Prudential plc as well as an additional strong Asian contingent with China Life Insurance, China Pacific Insurance Co. Ltd, New China Life Insurance Co Ltd and Ping An Insurance, all featuring.

The Insight Partnersreport showcases market trends and forecast to 2027, factoring the impact of covid-19 situation.To purchase a fully copy of Critical Illness Insurance Market research report visit: https://www.theinsightpartners.com/buy/TIPRE00011932/Subscribe to International Investment's free, twice-daily, newsletter 

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Gary Robinson

Commercial Director, Head of Video at International Investment.