According to TechSci Research report, “India Health Insurance Market By Type of Insurance Provider (Public, Private, Others), By Insurance Type (Disease, Medical, Income Protection), By Type of Scheme (Voluntary, Mandatory, Others), By Type of Coverage (Individual, Family), By Term of Coverage (Term, Lifetime), By Cash Limit (Up to 2 Lakh, 2.1-3 Lakh, Others), By Mode of Purchase (Online Portal, Insurance Agent, Others), By End User (Minors, Adults, Senior Citizens), By Region, Forecast & Opportunities, 2025”, India health insurance market is expected to register robust growth during forecast period.

Surging working population, increasing disposable income and rising awareness towards policies offered by health insurance companies are the major factors driving the Indian health insurance market. Additionally, the mandatory provision of providing health insurance for both private and public sector employees is further anticipated to fuel the growth of health insurance market in India through 2025.

Moreover, Government of India had launched National Health Protection Scheme under ‘Ayushman Bharat’ which provides coverage of up to USD7,723 to more than 100 million vulnerable families. This gave a boost to the health insurance sector in the country. This has further driven insurance penetration in the country and proliferation of insurance schemes, thereby positively impacting the market growth.