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The global market is being fueled by continued economic growth; an expanding health care market; positive demographic trends; reforms and initiatives by governments; policies inviting foreign investment; rising pollution; increasing income levels; and rising health awareness. (Photo: Shutterstock)

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

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

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