In financial year 2022, the cost of healthcare goods and services, also known as medical inflation, reached approximately **** percent in India. This figure was significantly higher than the general inflation rate in the country. In fiscal year 2023, medical inflation is forecasted to decrease to **** percent.

India Consumer Price Index (CPI): Miscellaneous: Health data was reported at 200.500 2012=100 in Mar 2025. This records an increase from the previous number of 199.600 2012=100 for Feb 2025. India Consumer Price Index (CPI): Miscellaneous: Health data is updated monthly, averaging 133.800 2012=100 from Jan 2011 (Median) to Mar 2025, with 171 observations. The data reached an all-time high of 200.500 2012=100 in Mar 2025 and a record low of 89.500 2012=100 in Jan 2011. India Consumer Price Index (CPI): Miscellaneous: Health data remains active status in CEIC and is reported by Ministry of Statistics and Programme Implementation. The data is categorized under Global Database’s India – Table IN.HD002: Consumer Price Index.

In December 2023, the Consumer Price Index for health across India was ***** which indicates that it had increased by approximately ** percent since the considered base year 2012. The index for the same category in rural India was *** that month, while CPI of health of urban India was 186.

The Consumer Price Index measures the average change in prices over time that consumers pay for a basket of goods and services.

Health and Medical Insurance Market Outlook

The global health and medical insurance market size was valued at approximately $2.8 trillion in 2023 and is projected to reach around $4.5 trillion by 2032, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period. This robust growth can be attributed to a combination of factors, including rising healthcare costs, increasing awareness about the importance of health insurance, and an aging global population. The market's expansion is further supported by technological advancements that streamline the insurance process and enhance customer experience.

One of the primary growth drivers in this market is the escalating cost of healthcare services worldwide. Medical inflation is outpacing general inflation, leading to higher out-of-pocket expenses for individuals. This has created a significant demand for health and medical insurance as a financial safety net. Furthermore, advancements in medical technology and the introduction of new treatment methods are contributing to higher healthcare costs, which in turn boosts the demand for insurance coverage. Governments and private entities are increasingly collaborating to make health insurance more accessible and affordable, thus driving market growth.

Another crucial factor contributing to the market's growth is the increasing awareness and understanding of health insurance benefits among the global population. With the proliferation of information through digital media and government initiatives, more people are becoming aware of the financial and health security that insurance provides. Educational campaigns and policy reforms are playing a pivotal role in educating the masses about the necessity of health insurance, thereby leading to higher enrollment rates. Additionally, employers are also recognizing the importance of offering health benefits to their employees, which further adds to the market's growth.

The aging global population is another significant driver for the health and medical insurance market. As the population ages, the prevalence of chronic diseases and the need for long-term care increase. Older adults are more likely to require frequent medical attention, making health insurance a crucial component of their financial planning. This demographic shift is particularly pronounced in developed countries, but emerging markets are also beginning to experience similar trends. Consequently, insurance providers are developing specialized products to cater to the needs of an aging population, thereby expanding their customer base.

Regionally, the market growth is expected to vary significantly. North America currently dominates the market, thanks to high healthcare costs, comprehensive insurance plans, and government mandates like the Affordable Care Act. However, the Asia Pacific region is anticipated to witness the highest growth rate during the forecast period. This can be attributed to improving economic conditions, increased healthcare spending, and growing awareness about health insurance. Countries like China and India are implementing extensive healthcare reforms, making insurance more accessible to their vast populations. Europe and Latin America are also expected to show steady growth, supported by government initiatives and increasing private sector participation.

Type Analysis

The health and medical insurance market can be segmented by type into individual health insurance, family health insurance, critical illness insurance, and others. Individual health insurance plans are designed to cover a single person, offering customized coverage based on personal health needs. This segment is experiencing significant growth due to the increasing number of self-employed individuals and freelancers who require personal health coverage. Additionally, the rise in single-person households is contributing to the demand for individual health insurance plans.

Family health insurance plans cover the entire family under a single policy. These plans are becoming increasingly popular as they offer comprehensive coverage for all family members, often at a lower cost compared to purchasing individual policies for each member. The convenience and cost-effectiveness of family health insurance plans are driving their adoption, especially among young families who are looking to secure their health future. Moreover, insurers are offering flexible plans that can be tailored to meet the specific health needs of families, further boosting this segment.

Critical illness insurance is another vital segment

For 2022, the forecasted gross medical cost trend in the Asia-Pacific region was highest in India, reaching approximately **** percent. This was followed by Malaysia, where the forecasted gross medical cost trend amounted to around **** percent. Comparatively, the forecasted gross medical cost trend in South Korea was estimated to amount to about *** percent in that year.

India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Medicine: Allopathic data was reported at 2.680 % in Oct 2018. This stayed constant from the previous number of 2.680 % for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Medicine: Allopathic data is updated monthly, averaging 2.680 % from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 2.680 % in Oct 2018 and a record low of 2.680 % in Oct 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Medicine: Allopathic data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG028: Retail Price Index: Industrial Workers: 2001=100: Weights: Miscellaneous: Medical Care.

The Consumer Price Index in India increased 0.62 percent in June of 2025 over the previous month. This dataset provides - India Inflation Rate MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news.

• The global industry was valued at US$ 537.7 Mn in 2022
• It is projected to grow at a CAGR of 5.2% from 2023 to 2031 and reach more than US$ 851.8 Mn by the end of 2031

Global Inflation Devices Market Snapshot

Attribute	Detail
Market Value in 2022	US$ 537.7 Mn
Forecast (Value) in 2031	US$ 851.8 Mn
Growth Rate (CAGR)	5.2%
Forecast Period	2023-2031
Historical Data Available for	2017-2021
Quantitative Units	US$ Mn for Value
Market Analysis	It provides segment analysis as well as regional level analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis.
Competition Landscape	Market share analysis by company (2022) Company profiles section includes overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy & recent developments, and key financials
Format	Electronic (PDF) + Excel
Market Segmentation	Display Type Analog Inflation Devices Digital Inflation Devices Pressure Capacity 20 ml Inflation Devices 30 ml Inflation Devices 60 ml Inflation Devices Function Balloon Angioplasty Arterial Stent Placement Endoscopy Others Application Coronary Interventions Urology Gastroenterology Peripheral Interventions Others End-user Hospitals Specialty Clinics Ambulatory Surgery Centers
Regions Covered	North America Latin America Europe Asia Pacific Middle East & Africa
Countries Covered	U.S. Canada Germany U.K. France Italy Spain China India Japan Australia & New Zealand Brazil Mexico South Africa GCC Countries
Companies Profiled	Atrion Medical BD Lepu Medical Technology (Beijing) Co., Ltd. Merit Medical Systems Translumina Advin Health Care Dolphin Life Science India LLP Boston Scientific Corporation Acclarent, Inc. (Johnson & Johnson MedTech) B. Braun Interventional Systems Inc. CONMED Corporation Cook Medical
Customization Scope	Available upon request
Pricing	Available upon request

International Health Insurance Market Outlook

The global market size of the International Health Insurance market reached approximately USD 25 billion in 2023 and is projected to soar to a staggering USD 50 billion by 2032, exhibiting a robust CAGR of 7.9% during the forecast period. The significant growth factor contributing to this market is the increasing awareness and need for comprehensive healthcare coverage among individuals and corporates alike. The surge in medical costs, global travel, expatriation, and the rising prevalence of chronic diseases are some of the pivotal drivers fueling this market's expansion.

One of the primary growth factors is the globalization of the workforce. With the growing trend of multinational corporations, many employees are frequently stationed abroad. This has led to a higher demand for international health insurance plans, as they offer a safety net for employees against health-related uncertainties in foreign lands. Furthermore, the increase in international students pursuing education abroad also significantly contributes to this demand. Educational institutions and parents alike are keen on ensuring that students have adequate health coverage during their stay in foreign countries.

Another critical growth driver is the rising healthcare costs worldwide. Medical inflation is a significant concern, making it imperative for individuals and families to opt for health insurance plans that offer international coverage. With the healthcare systems in developed nations often being more expensive, international health insurance provides a crucial financial buffer. This ensures that policyholders can access high-quality medical care without facing financial hardships. Additionally, the increasing prevalence of lifestyle-related diseases such as diabetes, hypertension, and cardiovascular conditions necessitates continuous medical attention, further boosting the market.

The technological advancements in the insurance sector cannot be overlooked as a significant growth factor. Digital platforms and online distribution channels have made it easier for consumers to compare and purchase international health insurance plans. The convenience of online services, coupled with the availability of customized plans, has played a substantial role in attracting a broader customer base. Insurers are also leveraging data analytics and AI to offer personalized services and improve customer experiences, thereby enhancing the market's appeal.

Hospital Cash Benefit Insurances have emerged as a valuable addition to the international health insurance landscape. These plans provide policyholders with a fixed daily cash benefit during hospitalization, which can be used to cover out-of-pocket expenses that are not typically covered by standard health insurance. This includes costs such as transportation, accommodation for family members, and other incidental expenses that arise during a hospital stay. The flexibility offered by Hospital Cash Benefit Insurances makes them an attractive option for individuals seeking additional financial security during medical emergencies. As healthcare costs continue to rise globally, these insurances offer a practical solution to manage unforeseen expenses, thereby enhancing the overall appeal of comprehensive health insurance packages.

Regionally, North America and Europe dominate the international health insurance market due to the high number of expatriates, students, and travelers. The well-established healthcare infrastructure and stringent regulatory frameworks in these regions ensure high standards of service, thus making them attractive markets. However, the Asia Pacific region is expected to witness the highest growth rate over the forecast period. The increasing middle-class population, rising healthcare awareness, and economic growth in countries like China and India are key factors driving the market in this region.

Plan Type Analysis

The international health insurance market's segmentation by plan type includes individual plans, family plans, group plans, senior citizen plans, and others. Individual plans offer tailor-made coverage for single policyholders, addressing their specific healthcare needs. This segment is particularly popular among expatriates and international students, providing comprehensive coverage without tying policies to families or groups. The flexibility and customization options available in individual plans make them highly attractive,

High Frequency Indicator: The dataset contains year-, month- and item-wise compiled data from the year 2015 to till date on inflation rates of different singular and combined items. These include food items such as rice, chicken, suwai, bajra, meat, vegetables, and others things, clothing items such as dhoti, saree, shawl, shirts, pants, fuels such as petrol, diesel, kerosene, LPG, coal, amenities such as air coolers, air conditioners. washing machines, bathroom and sanitary items, furniture, washing machine, and other items such as medical, motor, transport, telecommunication, electronic and other items

The global total consumer spending on healthcare in was forecast to continuously increase between 2024 and 2029 by in total 1.7 trillion U.S. dollars (+26.36 percent). After the ninth consecutive increasing year, the healthcare-related spending is estimated to reach 8.1 trillion U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case healthcare-related spending, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 06. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the total consumer spending on healthcare in countries like Australia & Oceania and Asia.

The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket and averaging them. Prices are collected periodically, and the CPI is often used to measure inflation, reflecting the cost of living. The CPI is typically set against a base year. The index is set to 100 in the base year, and changes in the CPI indicate price changes compared to that year. A typical household might purchase a wide range of products and services. Items in the basket are weighted according to their importance or share in total household spending. The Inflation Rate is the percentage increase in the general level of prices for goods and services over a period of time. It indicates how much prices have risen over a specific period, typically a year. Higher inflation decreases the purchasing power of money, meaning consumers can buy less with the same amount of money.It reflects the overall health of an economy. Moderate inflation is expected in a growing economy, but hyperinflation can indicate economic instability. The Inflation Rate is calculated using the following formula: Inflation Rate (%) = ((CPI in Current Year−CPI in Previous Year)/ (CPI in Previous Year))×100

India Consumer Price Index (CPI): Miscellaneous: Other Medical Expenses Non-Institutional data was reported at 127.900 2012=100 in Oct 2018. This records an increase from the previous number of 120.100 2012=100 for Sep 2018. India Consumer Price Index (CPI): Miscellaneous: Other Medical Expenses Non-Institutional data is updated monthly, averaging 117.150 2012=100 from Jan 2014 (Median) to Oct 2018, with 58 observations. The data reached an all-time high of 127.900 2012=100 in Oct 2018 and a record low of 107.700 2012=100 in Jan 2014. India Consumer Price Index (CPI): Miscellaneous: Other Medical Expenses Non-Institutional data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under India Premium Database’s Inflation – Table IN.IA017: Consumer Price Index: 2012=100: Miscellaneous.

According to Cognitive Market Research, the Global Health Insurance Exchange market size is USD 1609 million in 2024 and will expand at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031. Market Dynamics of Health Insurance Exchange Market

Key Drivers for Health Insurance Exchange Market

Increasing Prevalence of Chronic Lifestyle Diseases to Boost Market Growth 

The growing incidence of chronic lifestyle diseases such as diabetes, hypertension, and obesity is a major driver for the health insurance exchange market. As more individuals require long-term medical care and frequent health monitoring, there is a heightened demand for accessible, affordable, and transparent health insurance solutions. Health insurance exchanges simplify the enrolment process and allow consumers to compare plans, encouraging greater participation and coverage. This shift is pushing both insurers and governments to adopt digital platforms that streamline plan selection and claims management, making exchanges a vital tool in addressing the healthcare needs of a chronically ill population. For instance, in April 2024, a report highlighted that 45% of Indians were categorized as ‘unhealthy’ in 2023, with a high prevalence of chronic diseases, reinforcing the urgent need for improved health coverage platforms like health insurance exchanges. (Source:https://economictimes.indiatimes.com/news/india/45-of-indians-unhealthy-in-2023-goqii-india-fit-report/articleshow/109131034.cms?)

Growing Geriatric Population to Drive Market Growth 

The global increase in the geriatric population is driving demand for health insurance exchange platforms. With aging populations across regions, particularly in developed nations, there is an urgent need for affordable and accessible health coverage. Health insurance exchanges allow elderly individuals to compare and select the best insurance options tailored to their needs, offering transparency and ease of access. As a result, insurers and governments are adapting their offerings to accommodate the growing number of senior citizens, providing more inclusive coverage to address the unique health challenges associated with aging. For instance, in April 2024, the Insurance Regulatory and Development Authority of India (IRDAI) removed the age limit of 65 years for purchasing health insurance policies, aiming to broaden coverage and enhance financial security against healthcare expenses for senior citizens. (Source:https://www.indiatvnews.com/business/news/health-insurance-policies-irdai-demographics-ayush-policyholders-healthcare-ecosystem-aids-ailments-cancer-heart-renal-failure-2024-04-22-927402?)

Key Restraints for Health Insurance Exchange Market

High Health Insurance Premium Cost to Hamper Market Growth 

The rising cost of health insurance premiums is a significant challenge to market growth. Premiums have been increasing due to factors such as rising medical inflation, higher frequency of claims, and greater coverage options. These price hikes often lead to affordability issues for consumers, causing some individuals to downgrade their policies or even forgo coverage altogether. This trend not only impacts policyholder retention but also slows the acquisition of new policies. To address this, there is a growing need for more affordable options and innovative solutions to enhance accessibility and reduce premium costs for consumers. For instance, in July 2024, New India Assurance increased premiums on certain health insurance products by 10% to align with regulatory changes and anticipated higher claims, impacting policyholder affordability. (Source:https://www.business-standard.com/finance/insurance/new-india-assurance-increases-premiums-on-health-insurance-by-10-124073001522_1.html?)

Key Trends for Health Insurance Exchange Market

Advancements in Healthcare Technology to Create Opportunities in the Market 

Advancements in healthcare technology are significantly transforming the industry, creating numerous opportunities for market growth. The integration of artificial intelligence (AI) and machine learning (ML) into diagnostics and treatment planning is enhancing the accuracy and efficiency of medical services. Remote patient monitoring (RPM) systems enable continuous health tracking, allowing for timely interventions and reducing hospital readmissions. Wearable...

India Retail Price Index: Industrial Workers: 2001p: Medical Care: Medicine: Homeopathic data was reported at 265.790 2001=100 in Oct 2018. This records an increase from the previous number of 264.860 2001=100 for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Medicine: Homeopathic data is updated monthly, averaging 188.425 2001=100 from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 265.790 2001=100 in Oct 2018 and a record low of 123.910 2001=100 in Jan 2006. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Medicine: Homeopathic data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG012: Retail Price Index: Industrial Workers: 2001=100: Miscellaneous: Medical Care.

India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Employees' State Insurance Contribution data was reported at 0.520 % in Oct 2018. This stayed constant from the previous number of 0.520 % for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Employees' State Insurance Contribution data is updated monthly, averaging 0.520 % from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 0.520 % in Oct 2018 and a record low of 0.520 % in Oct 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Employees' State Insurance Contribution data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG028: Retail Price Index: Industrial Workers: 2001=100: Weights: Miscellaneous: Medical Care.

India Retail Price Index: Industrial Workers: 2001p: Medical Care: Medicine: Allopathic data was reported at 175.200 2001=100 in Oct 2018. This records an increase from the previous number of 174.550 2001=100 for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Medicine: Allopathic data is updated monthly, averaging 154.220 2001=100 from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 177.450 2001=100 in Sep 2013 and a record low of 118.830 2001=100 in Jan 2006. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Medicine: Allopathic data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG012: Retail Price Index: Industrial Workers: 2001=100: Miscellaneous: Medical Care.

India Retail Price Index: Industrial Workers: 2001p: Medical Care: Doctors' Fee data was reported at 393.040 2001=100 in Oct 2018. This records an increase from the previous number of 390.600 2001=100 for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Doctors' Fee data is updated monthly, averaging 210.845 2001=100 from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 393.040 2001=100 in Oct 2018 and a record low of 117.020 2001=100 in Jan 2006. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Doctors' Fee data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG012: Retail Price Index: Industrial Workers: 2001=100: Miscellaneous: Medical Care.

India Retail Price Index: Industrial Workers: 2001p: Medical Care: Employees' State Insurance Contribution data was reported at 369.960 2001=100 in Oct 2018. This stayed constant from the previous number of 369.960 2001=100 for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Employees' State Insurance Contribution data is updated monthly, averaging 252.050 2001=100 from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 405.910 2001=100 in Nov 2017 and a record low of 146.970 2001=100 in Sep 2006. India Retail Price Index: Industrial Workers: 2001p: Medical Care: Employees' State Insurance Contribution data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG012: Retail Price Index: Industrial Workers: 2001=100: Miscellaneous: Medical Care.

India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Ultrasound Charges data was reported at 0.010 % in Oct 2018. This stayed constant from the previous number of 0.010 % for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Ultrasound Charges data is updated monthly, averaging 0.010 % from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 0.010 % in Oct 2018 and a record low of 0.010 % in Oct 2018. India Retail Price Index: Industrial Workers: 2001p: Weights: Medical Care: Ultrasound Charges data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG028: Retail Price Index: Industrial Workers: 2001=100: Weights: Miscellaneous: Medical Care.