- Health Insurance Market in Australia to grow at a CAGR of 10.11 percent
London, November 14, 2013: According to the latest research findings by the independent London-based global research firm TechNavio, Medibank is a key player in the Health Insurance Market in Australia. The analysis is for the forecast period 2012-2016.
As per research analysis, big players like Medibank, Bupa Australia and Hospital Contributions Fund of Australia are dominating the health insurance market in Australia. The governing and regulatory guidelines are playing an important influence in this market with players’ competing against one another in areas like: pricing, insurance coverage, excess and co-payments, location-specific policies as well as tie-ups with medical service providers to differentiate themselves and emerge as the number one player in this market.
Speaking on this occasion, one of the senior analysts and co-author of this report said, “In recent years, the Australian government has been undertaking major reforms and making significant investments across the health and hospital system. The government’s reform with respect to public hospital funding will be seeing an additional investment of US$ 17.87 billion during the period 2019-2020. This will be ensuring provision of quality public healthcare insurance services for future generations. However this may still seem inadequate, as private health insurers are contributing almost 69 percent of the total cost of privately provided health and related services in Australia as on 2012.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in order of importance.
If you are interested in more information on this topic and our upcoming research on the Health Insurance Market in Australia 2012-2016, please send an e-mail to media@TechNavio.com.
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