Report Id: SNS/HC/2429 | July 2022 | Region: Global | 133 Pages
The Health Insurance Exchange Market Size was valued at USD 3.99 billion in 2022, and is expected to reach USD 9.28 billion by 2030, and grow at a CAGR of 11.1% over the forecast period 2023-2030.
The health insurance exchange is a market where different health insurance plans are offered. Both the government and the business sector can organize this interaction. The government-regulated exchange has the advantage of maintaining the importance of consumer protection while maintaining the competitiveness of the health insurance market. These developed in the United States in the 1980s and have lately been given a push by the Obama administration to cover a significant portion of the country's population.
The necessity for ongoing healthcare will strain people who can't afford modern healthcare as the prevalence of chronic diseases rises globally.
Market Expansion Driven by PPACA/Obamacare Reforms
Government grants spurring market expansion
Growing Demand to Drive Market Growth for Healthcare Cost Reduction
High prices are impeding market expansion.
Multiple Complex Technologies Slowing Market Growth
Great market potential is offered by private exchanges.
HIX growth will be accelerated by the demand for private cloud-based architecture and services.
Increasing consumer understanding of exchanges
Privacy and security protection
Obtain the Ideal Combination of Staff with Technical and Healthcare Knowledge
The majority of the Health Insurance Exchange market is made up of public exchanges. Private exchanges significantly outpace public exchanges in terms of market growth despite carrying the majority of trading volume. The market for exchange-based private health insurance is still in its infancy. With the implementation of the ACA, however, the idea of private exchanges was given considerably more attention, and as a result, talk of exchanges really began to pick up steam. Increasingly, businesses are switching from traditional defined benefit plans to defined contribution plans, which help them control expenses and provide benefits for their employees. This is due to the skyrocketing cost of healthcare.
Market segments for health insurance exchanges include pre-implementation, implementation (or infrastructure delivery), program management, independent validation and verification (IV &V), which includes quality assurance (QA), operations, and maintenance.
Services, software, and hardware make up the segments of the worldwide health insurance exchange industry.
By End User
Government entities, third party administrators (TPAs)/brokerage companies/consultancies, and health plans/payers are the market's three main divisions.
Some of the major key players are as follows: Hexaware – Technologies, CGI Inc., Accenture, Cognosante, Deloitte, hCentive, Infosys, Connecture, Xerox Corporation Ltd., IBM Corporation, HP, Innovation Inc., Oracle Corporation, and other players.
Implementation/Exchange Infrastructure Delivery
Program Management and Independent Verification and Validation (IV&V) /Quality Assurance (QA)
Operations and Maintenance
By End User
Third Party Administrators (TPAs), Brokerage Firms, and Consultancies
Due to its developed healthcare system, rising prevalence of chronic conditions, and increasingly informed customer base, North America is predicted to have the market's strongest growth. Given the government's support for this policy, the United States currently holds the largest proportion of the market for health insurance exchanges in this region and is predicted to sustain this hegemony in the upcoming years.
At the moment, neither Europe nor the Asia Pacific region (APAC) have a significant share in this industry.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 3.99 Billion|
|Market Size by 2030||US$ 9.28 Billion|
|CAGR||CAGR of 11.1% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Public Exchange, Private Exchange)
• By Phase (Pre-implementation Services, Implementation/Exchange Infrastructure Delivery, Program Management and Independent Verification and Validation (IV&V) /Quality Assurance (QA), Operations and Maintenance)
• By Component (Services, Software, Hardware)
• By End User (Government Agencies, Third Party Administrators (TPAs), Brokerage Firms, and Consultancies, Health Plans/Payers)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Hexaware – Technologies, CGI Inc., Accenture, Cognosante, Deloitte, hCentive, Infosys, Connecture, Xerox Corporation Ltd., IBM Corporation, HP, Innovation Inc., Oracle Corporation, and other players.|
|Key Drivers||• Market Expansion Driven by PPACA/Obamacare Reforms
• Government grants spurring market expansion
|RESTRAINTS||• High prices are impeding market expansion.
• Multiple Complex Technologies Slowing Market Growth
Frequently Asked Questions (FAQ) :
Manufacturer and service provider, research institutes, university and private libraries, suppliers and distributers.
exaware – Technologies, CGI Inc., Accenture, Cognosante, Deloitte, hCentive, Infosys, Connecture, Xerox Corporation Ltd. are the key players of Health Insurance Exchange market.
Due to its developed healthcare system, rising prevalence of chronic conditions, and increasingly informed customer base, North America is predicted to have the market's strongest growth.
Government grants spurring market expansion, Growing Demand to Drive Market Growth for Healthcare Cost Reduction are the key drivers of the Patient Flow Management Solutions market.
Health Insurance Exchange Market Size was valued at USD 3.6 billion in 2021.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Health Insurance Exchange Market Segmentation, By Type
8.1 Public Exchange
8.2 Private Exchange
9. Health Insurance Exchange Market Segmentation, By Phase
9.1 Pre-implementation Services
9.2 Implementation/Exchange Infrastructure Delivery
9.3 Program Management and Independent Verification and Validation (IV&V) /Quality Assurance (QA)
9.4 Operations and Maintenance
10. Health Insurance Exchange Market Segmentation, By Component
11. Health Insurance Exchange Market Segmentation, By End User
11.1 Government Agencies
11.2 Third Party Administrators (TPAs), Brokerage Firms, and Consultancies
11.3 Health Plans/Payers
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13.1 Hexaware – Technologies
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 CGI Inc.
13.9 Xerox Corporation Ltd.
13.10 IBM Corporation
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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