Market Share of Saudi Arabia Health & Medical Insurance Industry
The Saudi Arabia Health and Medical Insurance Market are semi consolidated. The increasing number of new players in the market is expected to increase the competition levels for established players. Two health insurance companies account for 75% of the local market, while the three largest firms dominate 83%. Additionally, there are 28 licensed companies in the Kingdom. Private health insurance covers about 30% of the working population and is mandatory for some employees in the private sector and other sectors.
The rapid adoption of advanced technology for improved healthcare and the new policies introduction are significant factors influencing the competitive nature. Furthermore, to gain market share, players are employing various strategies such as expansion, merger and acquisition, partnership, and collaboration.Key players operating in the market are Bupa Arabia, Tawuniya, Al Rajhi Takaful, Walaa, Medgulf, AXA Cooperative, Malath Insurance, Wataniya Insurance, Al Etihad Cooperative, SAICO, Amana Insurance, and others.
Saudi Arabia Health & Medical Insurance Market Leaders
Bupa Arabia
Tawuniya
Al Rajhi Takaful
Walaa
Medgulf
*Disclaimer: Major Players sorted in no particular order
