Indian health insurance market forecasts 2024-2028

GlobalData forecasts a five-year average annual growth rate of 12.8% for the Indian health insurance market. Premium volume would rise from 1 300 billion INR (15.1 billion USD) in 2024 to 2000 billion INR (23.8 billion USD) in 2028.

Health insurance accounts for 9.5% of the total premiums written by the Indian market in 2023.

This market share would rise to 11% by 2028.

Growth in this business would be supported by favorable regulatory changes, high health insurance rates and increased demand for healthcare