2014-03-18 06:57:03 - Personal Accident and Health Insurance in Japan, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
Japan has the world´s oldest population, with people aged 65 years and above accounting for 25.0% of the total population at the end of April 2013. Japan operates a universal health cover system, and health insurance is mandatory for every individual in Japan. This has resulted in a rise in government welfare and healthcare expenditure in Japan.
Healthcare expenditure as a percentage of GDP increased from 8.6% in 2008 to 9.8% in 2012. Increased demand for healthcare services and rising expenditure is driving demand for private insurance, and the written premium of personal accident and health insurance expanded at a CAGR of 4.5% from JPY2.3 trillion (US$22.3 billion) in 2008 to JPY2.8 trillion (US$34.5 billion) in 2012.
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