Maternity Health Insurance Market By Mode (Online, Offline) , By Distribution Channel (Direct from Insurer, Insurance Brokers and Agencies, Banks, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032

August 2024 | 350 pages | ID: M6126BDAA753EN
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Maternity Health Insurance Market

The maternity health insurance market was valued at $135.3 billion in 2023 and is projected to reach $269.3 billion by 2032, growing at a CAGR of 7.9% from 2024 to 2032.

Maternity health insurance is a financial policy designed to cover the expenses associated with pregnancy, childbirth, and postpartum care. The insurance manages the cost of periodic checkups, diagnostic tests, medications, and unexpected health concerns associated with pregnancy. The adoption of maternity health insurance is witnessing a notable surge among prospective parents as it facilitates financially planned and hassle-free parenthood. Several insurance options exist for pregnant women across the globe such as individual policies, employer-sponsored insurance, or government-funded programs.

Rise in awareness regarding importance of maternal health and prenatal & postnatal care is a major driver of the maternity health insurance market. In addition, rapid surge in expenses associated with pregnancy and childbirth has augmented the development of the market. Furthermore, the availability of customization in insurance plans is boosting their adoption, enabling consumers to opt for covers that cater to their budget and requirement. With diversifying aspects of parenthood, the trend of crafting insurance covers for in-vitro fertilization, assisted reproductive treatments, infertility treatments, and surrogacy is poised to acquire notable traction in various countries in coming years.

However, compliance with the pre-existing policy conditions and extensive waiting periods for availing maternity benefits are the major factors that restrain the growth of the market. Moreover, limited awareness regarding the availability and benefits of policies hinders the maternity health insurance market development. On the contrary, constant surge in healthcare costs is anticipated to present lucrative opportunities for the market. According to the data of Policybazaar—an Indian insurance aggregator—maternity insurance plans are witnessing a year-over-year increase of 80% in the financial year 2024. The age group of 25-35 years is the highest consumer segment for maternity health insurance, comprising approximately 91.2% of the total policy buyers. Furthermore, the availability of several add-ons such as no claim bonuses and no room rent capping is poised to open new avenues for the maternity health insurance market.

Segment Review

The maternity health insurance market is segmented into mode, distribution channel, and region. On the basis of mode, the market is bifurcated into online and offline. Depending on distribution channel, it is divided into direct from insurer, insurance brokers & agencies, banks, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA.

Key Findings

On the basis of mode, the online segment held a high share of the market in 2023.

Depending on distribution channel, the banks segment acquired a high stake in the market in 2023.

Region wise, North America was the highest revenue generator in 2023.

Competition Analysis

The leading players operating in the global maternity health insurance market include United Healthcare, Aetna, Cigna, Kaiser Permanente, AXA S.A., Allianz SE, SBI Life Insurance, Progressive Corporation, Talanx, Zurich Ins Group, and PNB MetLife. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.

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  • Technology Trend Analysis
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  • SWOT Analysis
Key Market Segments

By Mode
  • Online
  • Offline
By Distribution Channel
  • Direct from Insurer
  • Insurance Brokers and Agencies
  • Banks
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Europe
  • France
  • Germany
  • Italy
  • Spain
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • Latin America
  • Brazil
  • Colombia
  • Argentina
  • Rest of Latin America
  • MEA
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA
  • Key Market Players
  • United Healthcare
  • Aetna
  • Cigna
  • Kaiser Permanente
  • AXA S.A.
  • Allianz SE
  • SBI Life Insurance
  • Progressive Corporation
  • Talanx
  • Zurich Ins Group
  • PNB MetLife
CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
  1.4.1. Primary Research
  1.4.2. Secondary Research
  1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
  3.2.1. Top Investment Pockets
  3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
  3.3.1. Bargaining Power of Suppliers
  3.3.2. Threat of New Entrants
  3.3.3. Threat of Substitutes
  3.3.4. Competitive Rivalry
  3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
  3.4.1. Drivers
  3.4.2. Restraints
  3.4.3. Opportunities

CHAPTER 4: MATERNITY HEALTH INSURANCE MARKET, BY MODE

4.1. Market Overview
  4.1.1 Market Size and Forecast, By Mode
4.2. Online
  4.2.1. Key Market Trends, Growth Factors and Opportunities
  4.2.2. Market Size and Forecast, By Region
  4.2.3. Market Share Analysis, By Country
4.3. Offline
  4.3.1. Key Market Trends, Growth Factors and Opportunities
  4.3.2. Market Size and Forecast, By Region
  4.3.3. Market Share Analysis, By Country

CHAPTER 5: MATERNITY HEALTH INSURANCE MARKET, BY DISTRIBUTION CHANNEL

5.1. Market Overview
  5.1.1 Market Size and Forecast, By Distribution Channel
5.2. Direct From Insurer
  5.2.1. Key Market Trends, Growth Factors and Opportunities
  5.2.2. Market Size and Forecast, By Region
  5.2.3. Market Share Analysis, By Country
5.3. Insurance Brokers And Agencies
  5.3.1. Key Market Trends, Growth Factors and Opportunities
  5.3.2. Market Size and Forecast, By Region
  5.3.3. Market Share Analysis, By Country
5.4. Banks
  5.4.1. Key Market Trends, Growth Factors and Opportunities
  5.4.2. Market Size and Forecast, By Region
  5.4.3. Market Share Analysis, By Country
5.5. Others
  5.5.1. Key Market Trends, Growth Factors and Opportunities
  5.5.2. Market Size and Forecast, By Region
  5.5.3. Market Share Analysis, By Country

CHAPTER 6: MATERNITY HEALTH INSURANCE MARKET, BY REGION

6.1. Market Overview
  6.1.1 Market Size and Forecast, By Region
6.2. North America
  6.2.1. Key Market Trends and Opportunities
  6.2.2. Market Size and Forecast, By Mode
  6.2.3. Market Size and Forecast, By Distribution Channel
  6.2.4. Market Size and Forecast, By Country
  6.2.5. U.S. Maternity Health Insurance Market
    6.2.5.1. Market Size and Forecast, By Mode
    6.2.5.2. Market Size and Forecast, By Distribution Channel
  6.2.6. Canada Maternity Health Insurance Market
    6.2.6.1. Market Size and Forecast, By Mode
    6.2.6.2. Market Size and Forecast, By Distribution Channel
6.3. Europe
  6.3.1. Key Market Trends and Opportunities
  6.3.2. Market Size and Forecast, By Mode
  6.3.3. Market Size and Forecast, By Distribution Channel
  6.3.4. Market Size and Forecast, By Country
  6.3.5. France Maternity Health Insurance Market
    6.3.5.1. Market Size and Forecast, By Mode
    6.3.5.2. Market Size and Forecast, By Distribution Channel
  6.3.6. Germany Maternity Health Insurance Market
    6.3.6.1. Market Size and Forecast, By Mode
    6.3.6.2. Market Size and Forecast, By Distribution Channel
  6.3.7. Italy Maternity Health Insurance Market
    6.3.7.1. Market Size and Forecast, By Mode
    6.3.7.2. Market Size and Forecast, By Distribution Channel
  6.3.8. Spain Maternity Health Insurance Market
    6.3.8.1. Market Size and Forecast, By Mode
    6.3.8.2. Market Size and Forecast, By Distribution Channel
  6.3.9. UK Maternity Health Insurance Market
    6.3.9.1. Market Size and Forecast, By Mode
    6.3.9.2. Market Size and Forecast, By Distribution Channel
  6.3.10. Rest Of Europe Maternity Health Insurance Market
    6.3.10.1. Market Size and Forecast, By Mode
    6.3.10.2. Market Size and Forecast, By Distribution Channel
6.4. Asia-Pacific
  6.4.1. Key Market Trends and Opportunities
  6.4.2. Market Size and Forecast, By Mode
  6.4.3. Market Size and Forecast, By Distribution Channel
  6.4.4. Market Size and Forecast, By Country
  6.4.5. China Maternity Health Insurance Market
    6.4.5.1. Market Size and Forecast, By Mode
    6.4.5.2. Market Size and Forecast, By Distribution Channel
  6.4.6. Japan Maternity Health Insurance Market
    6.4.6.1. Market Size and Forecast, By Mode
    6.4.6.2. Market Size and Forecast, By Distribution Channel
  6.4.7. India Maternity Health Insurance Market
    6.4.7.1. Market Size and Forecast, By Mode
    6.4.7.2. Market Size and Forecast, By Distribution Channel
  6.4.8. South Korea Maternity Health Insurance Market
    6.4.8.1. Market Size and Forecast, By Mode
    6.4.8.2. Market Size and Forecast, By Distribution Channel
  6.4.9. Australia Maternity Health Insurance Market
    6.4.9.1. Market Size and Forecast, By Mode
    6.4.9.2. Market Size and Forecast, By Distribution Channel
  6.4.10. Rest of Asia-Pacific Maternity Health Insurance Market
    6.4.10.1. Market Size and Forecast, By Mode
    6.4.10.2. Market Size and Forecast, By Distribution Channel
6.5. Latin America
  6.5.1. Key Market Trends and Opportunities
  6.5.2. Market Size and Forecast, By Mode
  6.5.3. Market Size and Forecast, By Distribution Channel
  6.5.4. Market Size and Forecast, By Country
  6.5.5. Brazil Maternity Health Insurance Market
    6.5.5.1. Market Size and Forecast, By Mode
    6.5.5.2. Market Size and Forecast, By Distribution Channel
  6.5.6. Colombia Maternity Health Insurance Market
    6.5.6.1. Market Size and Forecast, By Mode
    6.5.6.2. Market Size and Forecast, By Distribution Channel
  6.5.7. Argentina Maternity Health Insurance Market
    6.5.7.1. Market Size and Forecast, By Mode
    6.5.7.2. Market Size and Forecast, By Distribution Channel
  6.5.8. REST oF Latin America Maternity Health Insurance Market
    6.5.8.1. Market Size and Forecast, By Mode
    6.5.8.2. Market Size and Forecast, By Distribution Channel
6.6. MEA
  6.6.1. Key Market Trends and Opportunities
  6.6.2. Market Size and Forecast, By Mode
  6.6.3. Market Size and Forecast, By Distribution Channel
  6.6.4. Market Size and Forecast, By Country
  6.6.5. Saudi Arabia Maternity Health Insurance Market
    6.6.5.1. Market Size and Forecast, By Mode
    6.6.5.2. Market Size and Forecast, By Distribution Channel
  6.6.6. South Africa Maternity Health Insurance Market
    6.6.6.1. Market Size and Forecast, By Mode
    6.6.6.2. Market Size and Forecast, By Distribution Channel
  6.6.7. UAE Maternity Health Insurance Market
    6.6.7.1. Market Size and Forecast, By Mode
    6.6.7.2. Market Size and Forecast, By Distribution Channel
  6.6.8. Rest Of Mea Maternity Health Insurance Market
    6.6.8.1. Market Size and Forecast, By Mode
    6.6.8.2. Market Size and Forecast, By Distribution Channel

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top Winning Strategies
7.3. Product Mapping Of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top Player Positioning, 2023

CHAPTER 8: COMPANY PROFILES

8.1. United Healthcare
  8.1.1. Company Overview
  8.1.2. Key Executives
  8.1.3. Company Snapshot
  8.1.4. Operating Business Segments
  8.1.5. Product Portfolio
  8.1.6. Business Performance
  8.1.7. Key Strategic Moves and Developments
8.2. Aetna
  8.2.1. Company Overview
  8.2.2. Key Executives
  8.2.3. Company Snapshot
  8.2.4. Operating Business Segments
  8.2.5. Product Portfolio
  8.2.6. Business Performance
  8.2.7. Key Strategic Moves and Developments
8.3. Cigna
  8.3.1. Company Overview
  8.3.2. Key Executives
  8.3.3. Company Snapshot
  8.3.4. Operating Business Segments
  8.3.5. Product Portfolio
  8.3.6. Business Performance
  8.3.7. Key Strategic Moves and Developments
8.4. Kaiser Permanente
  8.4.1. Company Overview
  8.4.2. Key Executives
  8.4.3. Company Snapshot
  8.4.4. Operating Business Segments
  8.4.5. Product Portfolio
  8.4.6. Business Performance
  8.4.7. Key Strategic Moves and Developments
8.5. AXA S.A.
  8.5.1. Company Overview
  8.5.2. Key Executives
  8.5.3. Company Snapshot
  8.5.4. Operating Business Segments
  8.5.5. Product Portfolio
  8.5.6. Business Performance
  8.5.7. Key Strategic Moves and Developments
8.6. Allianz SE
  8.6.1. Company Overview
  8.6.2. Key Executives
  8.6.3. Company Snapshot
  8.6.4. Operating Business Segments
  8.6.5. Product Portfolio
  8.6.6. Business Performance
  8.6.7. Key Strategic Moves and Developments
8.7. SBI Life Insurance
  8.7.1. Company Overview
  8.7.2. Key Executives
  8.7.3. Company Snapshot
  8.7.4. Operating Business Segments
  8.7.5. Product Portfolio
  8.7.6. Business Performance
  8.7.7. Key Strategic Moves and Developments
8.8. Progressive Corporation
  8.8.1. Company Overview
  8.8.2. Key Executives
  8.8.3. Company Snapshot
  8.8.4. Operating Business Segments
  8.8.5. Product Portfolio
  8.8.6. Business Performance
  8.8.7. Key Strategic Moves and Developments
8.9. Talanx
  8.9.1. Company Overview
  8.9.2. Key Executives
  8.9.3. Company Snapshot
  8.9.4. Operating Business Segments
  8.9.5. Product Portfolio
  8.9.6. Business Performance
  8.9.7. Key Strategic Moves and Developments
8.10. Zurich Ins Group
  8.10.1. Company Overview
  8.10.2. Key Executives
  8.10.3. Company Snapshot
  8.10.4. Operating Business Segments
  8.10.5. Product Portfolio
  8.10.6. Business Performance
  8.10.7. Key Strategic Moves and Developments
8.11. PNB MetLife
  8.11.1. Company Overview
  8.11.2. Key Executives
  8.11.3. Company Snapshot
  8.11.4. Operating Business Segments
  8.11.5. Product Portfolio
  8.11.6. Business Performance
  8.11.7. Key Strategic Moves and Developments


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