The global market value of wellness and
activity-based health insurance market was USD 97.1 billion in 2022, and a CAGR
of 12.1% is expected during the forecast period. It is a type of health
insurance that integrates wellness activities and preventive health measures
into a policy. It typically involves rewards or incentives for a policyholder
who engages in healthy behaviors such as regular exercise, maintaining a
healthy weight, or participating in wellness programs.
These incentives come in
the form of premium discounts, cash rewards, or other benefits designed to
encourage healthier lifestyles and ultimately reduce healthcare costs for both
insurance companies and policyholders. Increasing health awareness among people
is driving growth in the market significantly. Increasing awareness about
health and wellness is driving the growth of the market significantly.

Impact of Covid-19
COVID-19 has had a negative impact on wellness and
activity-based health insurance market. The shift in priorities during the
pandemic was due to economic uncertainties. With stringent lockdown and social
distancing, supply chain disruptions caused delays in every other field. Though
people during the pandemic became more aware and started to prioritize health
and wellness, the increasing number of wellness programs and activities that
promote physical and mental well-being is driving the growth of the market
significantly. With social distancing measures in place, there has been a surge
in the use of digital health and wellness platforms, making it easier for
insurers to implement and track activity-based incentives.
Some insurers have
shifted their focus from traditional wellness activities, such as gym
memberships, to promoting activities that are done at home or outdoors, such as
virtual fitness classes and walking challenges. Economic uncertainties caused
by the pandemic have compelled some people to opt for basic needs over wellness
activities, potentially impacting participation rates in activity-based health
insurance programs. People started to take care of their mental health more in
comparison to the past after the pandemic. Increasing health and wellness
programs all over the world are driving the demand for wellness and
activity-based health insurance market.
Growth Drivers
Increasing awareness among people about their mental health
and well-being is the main reason behind the growth in the market. With
increasing awareness of health, there is a growing demand for insurance plans
that incentivize healthy behaviors and lifestyles. Escalating healthcare
expenses incentivizes insurers to find cost-effective ways to promote
preventive care and a healthy lifestyle among their policyholders, which do
lead to reduced healthcare utilization and costs in the long term.
Advancements
in technologies such as wearable devices, mobile apps, and data analytics
enable insurers to accurately track and incentivize healthy behaviors, making
them easier to implement. Increasing consumer engagement in health and wellness
activities, coupled with the desire for personalized healthcare solutions, does
drive the demand for insurance plans offering incentives. Government
initiatives and regulations promoting preventive care and wellness programs
encourage insurers to invest in activity-based health insurance offerings,
leading to broader adoption and growth in the market.
This combination of
health and wealth is doing wonders for the people. Increasing demand for
products that are beneficial for health is driving the growth of the market
significantly. The rising growth of e-commerce and technological advancements
all around the world is the key factor behind the significant growth in the
market.
Segmentation
By Type
·
Individual Plans
·
Group Plans
Regional
Outlook
·
Asia Pacific
·
North America
·
Europe
·
Latin America
·
Middle East and Africa
Wellness and Activity-Based Health
Insurance Market by Type Segmentation
On the basis of type, the wellness and activity-based health
insurance market is segmented into two types: individual and group plans.
Individual plans are the leading segment and are expected to dominate the
market. Group plans are also expected to dominate the market during the
forecast period due to technological advancements.

The rise in awareness among
consumers to attract new customers is the key reason behind the growth in the
market. These factors are expected to boost global wellness. Increasing
awareness among people about health and wellness is the key attribute of this
market. Individual insurance plans are of the following types: fitness tracker
integration plans, gym membership reimbursement plans, nutrition counseling
coverage, wellness screenings and preventive care management, health coaching
programs, incentive-based plans, telemedicine services, and mental health and stress
management support.
Fitness tracker integration plans often integrate with
fitness trackers or apps to monitor activity levels, steps taken, or exercise
routines. Policy holders receive discounts or rewards for meeting certain
activity goals. Gym membership reimbursement plans provide reimbursement for
gym memberships or fitness classes. Nutrition counseling coverage plans offer
coverage for nutrition counseling sessions or consultations with dietitians to
promote healthy eating habits and weight management. Health coaching programs
include personalized guidance and support for achieving health goals.
Regional Outlook
On the basis of the regions, the wellness and activity-based
health insurance market is segmented into 5 parts: Asia Pacific, North America,
Latin America, Europe, and the Middle East and Africa. North America is the
leading segment, and it is expected to dominate the market during the forecast
period. The presence of many key players in the region is the real cause behind
the growth in the market.
Increasing disposable income and the increasing
initiation of people towards a health-first approach are driving the market
towards significant growth. Emerging economies like India, China, and Japan are
witnessing growth due to rising disposable income and increasing urbanization.
European countries like Germany, France, Italy, Turkey, Russia, and Ukraine are
observing continuous growth in the market due to increasing awareness among
people about health and wellness.

Emerging markets in the Latin American region
have started showing interest in these types of policies. Regions with a less
developed healthcare system or cultural barriers to preventive care notice
lower adoption. The Middle East and Africa region is witnessing moderate growth
during the forecast period due to poor healthcare infrastructure. African
countries are less developed and witnessing slow growth.
Key Players
·
Anthem Inc
·
Cigna Corporation
·
Aetna Inc
·
Humana Inc
·
Kaiser Permanente
·
Blue Cross Blue Shield Association
·
Vitality Group
·
Oscar Health
·
United Health Group
·
Welltok Inc
·
Other Players
Specifications |
Descriptions |
No Specifications |