Health insurance market grows 9.1% CAGR through 2025

APAC is forecast to record the fastest growth.

The global health insurance market is projected to grow from $29.04b in 2024 to $31.68b in 2025, reflecting a compound annual growth rate (CAGR) of 9.1%, according to The Business Research Company. 

The market is expected to expand further to $44.29b by 2029 at a CAGR of 8.7%.

Growth has been fuelled by cross-border medical travel, rising demand for elective procedures abroad, affordable healthcare destinations, and wider collaboration between insurers and international hospitals. Looking ahead, fac

tors such as a growing elderly population seeking overseas care, expansion of telehealth-enabled consultations, and broader global insurance coverage are expected to support continued growth.

North America was the largest region for international health insurance in 2024, whilst Asia-Pacific is forecast to record the fastest growth during the forecast period.