Market Size of UAE Health and Medical Insurance Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 10.51 Billion |
| Market Size (2029) | USD 18.83 Billion |
| CAGR (2024 - 2029) | 12.38 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Health and Medical Insurance Market Analysis
The UAE Health and Medical Insurance Market size is estimated at USD 10.51 billion in 2024, and is expected to reach USD 18.83 billion by 2029, growing at a CAGR of 12.38% during the forecast period (2024-2029).
Regional authorities of the UAE have made several changes to the regulatory oversight in recent years to bring in more transparency and discipline, while also promoting consolidation. Such reforms are likely to improve the insurer’s credit profiles and asset quality in the long term, while also making the overall insurance sector more transparent, competitive, efficient, and sustainable. Insurance companies in the UAE will witness further pressure on margins due to increased VAT rates in the region and the costs incurred to remain compliant with new policies.
The UAE Ministry of Health oversees the healthcare facilities in most of the regions of the UAE. Some of the Northern Emirates have established their health care system which also looks over health insurance. Each emirate has its own healthcare and insurance program.
The Abu Dhabi Government provides full medical coverage for all UAE nationals living in Abu Dhabi. Similarly, for the citizens of the Emirates of Dubai, the government provides insurance coverage to citizens who do not currently benefit from any government health program in the emirate of Dubai. The government provides treatment through a large network of healthcare providers in the private sector and DHA healthcare centers.
The COVID-19 pandemic has brought about increased awareness in UAE, as people have begun to reassess their priorities lay more importance on insurance coverage, and shield themselves and their families from risks posed by such uncertainties.
