Health Insurance in Australia - Market Research Report

Health Insurance industry trends (2014-2019)

poll Average industry growth 2014–2019: 3.9%

The Health Insurance industry is an integral part of the Australian health system, providing insurance coverage for an estimated 45.5% of the population. Health insurers generate revenue from selling health insurance policies (premium revenue) and investing premium reserves (investment revenue), with premium revenue generally accounting for over 95% of industry revenue. Industry revenue is expected to grow at an annualised 3.9% over the five years through 2018-19, to reach $25.3 billion. This growth is largely due to premium revenue rising steadily. Industry revenue is anticipated to increase by 2.0% in the current year. Higher private health insurance premiums have bolstered premium income and industry revenue over the past five years. Revenue grow...
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Health Insurance industry outlook (2019-2024)

poll Average industry growth 2019-2024: x.xlockPurchase this report or a membership to unlock the average company profit margin for this industry.

Rising premiums and recovering investment returns are anticipated to continue driving revenue growth in the Health Insurance industry over the next five years. However, investment gains (which typically account for less than X% of revenue) are difficult to forecast due to fluctuations in financial markets. Industry revenue is projected to grow at an annualised X.X% over the five years through XXX-XX, to reach $XX.X billion. Industry profitability is forecast to increase marginally over the next five years due to slight improvements in underwriting performance. Enterprise and establishment numbers are projected to fall as the industry consolidates, while firms expand their online sales presence and streamline administration. As a health insurance com...
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Health Insurance industry statistics

  • attach_money Market Size: $25bn
  • business Number of Businesses: 535
  • poll Average Industry Profit Margin: x.x%
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  • supervisor_account Industry Employment: 13,671

Biggest companies in the Health Insurance industry

The companies holding the largest market share in the Health Insurance in Australia industry include Bupa ANZ Insurance Pty Ltd, Medibank Private Limited, Hospitals Contribution Fund of Australia Limited, NIB Holdings Ltd and HBF Health Limited.

  • pie_chart Bupa ANZ Insurance Pty Ltd Market Share: x.x%
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  • pie_chart Medibank Private Limited Market Share: x.x%
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  • pie_chart Hospitals Contribution Fund of Australia Limited Market Share: x.x%
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  • pie_chart NIB Holdings Ltd Market Share: x.x%
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  • pie_chart HBF Health Limited Market Share: x.x%
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What is Health Insurance industry?

Industry Definition

Industry operators primarily underwrite insurance policies relating to health and medical risks. Underwriting insurance policies involves assuming risks and assigning premiums. Industry operators provide insurance cover for hospital, medical, dental, pharmaceutical and funeral expenses or costs. Industry firms generate revenue through insurance underwriting and investing premiums.

Industry Products and Services

  • General treatment cover
  • Hospital treatment cover
  • Combined cover
  • All Others

Industry Activities

  • Dental insurance provision
  • Funeral benefit provision
  • Health insurance provision

Market research report - table of contents

Industry Definition

Industry operators primarily underwrite insurance policies relating to health and medical risks. Underwriting insurance policies involves assuming risks and assigning premiums. Industry operators provide insurance cover for hospital, medical, dental, pharmaceutical and funeral expenses or costs. Industry firms generate revenue through insurance underwriting and investing premiums.

Main Activities

  • Dental insurance provision
  • Funeral benefit provision
  • Health insurance provision

Similar Industries

Additional Resources

Industry Statistics Snapshot

Industry Structure

Executive Summary

Key External Drivers

Government policies influence the cost of private health insurance (PHI) and the cost of services covered by PHI, which affect industry demand. These poli...
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Private health insurance membership
Population aged 50 and older
Real household disposable income
10-year bond rate

Current Performance

Medicare and membership
Competition and market share
Health insurance rebate
 Chart: Revenue Growth

Industry Outlook

Cutting costs
 Table: Health Insurance in Australia - Market Research Report Industry Revenue Outlook

Industry Life Cycle

Life Cycle Reasons
 Chart: Benchmarking - Health Insurance in Australia - Market Research Report Industry Lifecycle vs The Economy

Supply Chain

Key Buying Industries

Consumers in Australia






Key Selling Industries

General Hospitals in Australia
Psychiatric Hospitals in Australia
Specialist Medical Services in Australia
Dental Services in Australia
Optometry and Optical Dispensing in Australia
Ambulance Services in Australia
Physiotherapy Services in Australia
Chiropractic and Osteopathic Services in Australia

Products & Services

The industry's product segmentation is based on the number of people covered under the different policy types. Combined cover policies typically generate ...
Families
Couples
Single parents



Demand Determinants

Several factors influence demand for health insurance in Australia. These include the cost of cover, the type of cover (e.g. hospital treatment, general t...
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Major Markets

Families
Couples
Single parents




 Chart: Major Market Segmentation for the Health Insurance in Australia - Market Research Report Industry

International Trade

Business Locations

Chart: Business Locations by State Chart: Business Locations by State

Market Share Concentration

The Health Insurance industry exhibits moderate market share concentration. The top four operators are estimated to account for approximately 70% of indus...
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Key Success Factors

Cost Structure Benchmarks

Profit, Purchases, Wages, Other Costs
 Chart: Cost Structure Benchmarking – Sector vs Health Insurance in Australia - Market Research Report

Basis of Competition

Internal competition
External competition

Barriers to Entry

 Table: Barriers to Entry Checklist for the Health Insurance in Australia - Market Research Report Industry

Industry Globalization

BUPA, formerly the British United Provident Association, is an independent UK health care organisation that services over 32 million customers in 190 coun...
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Bupa ANZ Insurance

 Table: Bupa ANZ Insurance - financial performance

Medibank Private

 Table: Medibank Private - financial performance

HCF

 Table: HCF - financial performance

NIB Holdings

 Table: NIB Holdings - financial performance

HBF

 Table: HBF - financial performance

Capital Intensity

The Health Insurance industry exhibits a low level of capital intensity. For every dollar paid as wages, an estimated $0.04 is spent on capital investment...
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 Chart: Level of Capital Intensity for the Health Insurance in Australia - Market Research Report Industry
 Chart: Tools of the Trade: Growth Strategies for Success

Technology & Systems

Revenue Volatility

Chart: Volatility vs Industry Growth Chart: Volatility vs Industry Growth

Regulation & Policy

Industry Assistance

Table: Industry data Table: Industry Data for the Health Insurance in Australia Industry

Industry Revenue (2007-2025)
Industry Gross Product (2007-2025)
Establishments (2007-2025)
Businesses (2007-2025)
Employment (2007-2025)
Exports (2007-2025)
Imports (2007-2025)
Wages (2007-2025)
Domestic Demand (2007-2025)

Table: Annual Percentage Change for Key Industry Data Table: Annual Percentage Change for Key Industry Data

Table: Key Ratios for Industry Key Dat Table: Key Ratios for Industry Key Data

Table: Industry Financial Ratios Table: Industry Financial Ratios

Liquidity Ratios
Coverage Ratios
Leverage Ratios
Operating Ratios
Cash Flow & Debt Service Ratios (% of Sales)
Assets, %
Liabilities, %

COMBINED RATIO

EXPENSE RATIO

LOSS RATIO

UNDERWRITING

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Included in Report

  • Industry Financial Ratios
    Industry Financial Ratios
  • Revenue Forecasts
    Revenue Forecasts
  • Historical and Forecast Growth
    Historical and Forecast Growth
  • Industry Market Size
    Industry Market Size
  • Industry Major Players
    Industry Major Players
  • Profitability Analysis
    Profitability Analysis
  • SWOT Analysis
    SWOT Analysis
  • Industry Trends
    Industry Trends
  • Industry Operating Conditions
    Industry Operating Conditions
  • Porter's 5 Forces Analysis
    Porter's 5 Forces Analysis

Why buy this report on the Health Insurance industry?

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This report on Health Insurance in Australia:

  • Provides Market Size information to assist with planning and strategic decisions.
  • Includes the necessary information to perform SWOT, PEST and STEER analysis.
  • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
  • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.

The Health Insurance in Australia market research report includes:

  • Historical data and analysis for the key drivers of this industry
  • A five-year forecast of the market and noted trends
  • Detailed research and segmentation for the main products and markets
  • An assessment of the competitive landscape and market shares for major companies
  • And of course, much more

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