The global market for health and medical insuranceproviders not only topped $1 trillion in 2016, coming in at $1.1trillion, but a new report predicts that it will continue to climb at a dizzying pace.

A BCC Research report estimatesmarket growth—which came in at $1.2 trillion in 2017—to hit $1.6trillion in 2020. That’s a compound annual growth rate of 8.6percent for the period 2016–2020.

Categorizing health and medical insurance providers bytype—agents and brokers’ direct writing, bancassurance andothers—as well as by product and geographical region, the study sought todetermine the global market and future demand growth for health andmedical insurance providers over the five-year period from 2016through 2020.

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