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The global medical malpractice insurance market was valued at USD 18.2 billion in 2018 and is expected to reach USD 22.7 billion in 2026, growing at a CAGR of 3.2% during the forecast period.Medical malpractice insurance is also known as medical professional liability insurance. It is one type of professional liability insurance that protects physicians and other licensed health care professionals from liability related to wrongful perform resulting in bodily injury, property damage and, medical expenses and the cost of defending lawsuits related to such claims.
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Medical Malpractice Insurance Market 2020 Industry Outlook, Emerging Trends and Top Players Growing chronic disease coupled with growing surgeries across the globe to drive the growth of the medical malpractice insurance market.The global medical malpractice insurance market was valued at USD 18.2 billion in 2018 and is expected to reach USD 22.7 billion in 2026, growing at a CAGR of 3.2% during the forecast period. The global medical malpractice insurance market is expected to grow at a significant growth during the forecast period. The factors that are contributing to the growth of the market are growing chronic disorder across the globe coupled with increasing medical surgeries across the globe. The foremost chronic diseases include CVD, strokes, heart attack, cancer, diabetes, breast cancer, obesity and other health disorders. Early detection is a major factor in managing chronic diseases. There is significant rise in number of patients with chronic diseases. According to America Cancer Society for 2017, a number of 1.6 million new cancer cases were diagnosed and 600,920 people dies due to cancer in the US. Additionally, NIH has estimated that there will be 1,735,350 new cases of cancer in the US by the end of 2018 Get Sample Copy @ https://www.alltheresearch.com/sample-request/245 Asia-Pacific is both a strong and promising market for medical malpractice insurance. This is particularly due to the strong population base, high prevalence of chronic diseases such as cancer and others in Asian countries such as China, Japan, and India. Half of the global incidence of cancer is projected to occur in Asia with 22% in China and 7% in India only that further provide the opportunity for market growth. According to NICPR (National Institute of Cancer Prevention and Research), India recorded 3.9 million cancer cases in 2016. Cancer is the major cause of deaths in the country. Poor economic conditions are supporting the number of deaths caused by cancer. Absence of proper diagnostic centres for the huge population is also the key contributing factor for the prevalence of chronic disease in the country that further increases the surgical procedure thus creating significant opportunity for the market. The Covid19 pandemic is causing a ripple effect on the global economy and we are analyzing its impact on markets – both from the supply side and the demand side. With the entire ecosystem in view, we are mapping strategies necessary to survive and thrive in this scenario.
Connect with our Analyst to understand the impact and be smart in redefining business strategies. https://www.alltheresearch.com/impactC19-request/245 Key Findings: • Based on type, the E&O insurance segment is expected to grow at the highest CAGR of around 4.8% during the forecast period Based on the Coverage US$1 Million to US$5 Million segment is accounted for the largest share in the market and held for around 33% of the total market, in 2018 North America accounted for around 36% share of the global medical malpractice insurance market in 2018 Asia-Pacific is projected to grow at the highest CAGR of around 5.1% during the forecast period • • • Speak to Our Expert @ https://www.alltheresearch.com/speak-to-analyst/245 About AlltheResearch: AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision- making made us realise, that it’s not just sheer data-points, but the right analysis that creates a difference. For all your Research needs, reach out to us at: 39180 Liberty Street Suite 110, Fremont, CA 94538, USA Contact Person: Rohit B. Email: contactus@alltheresearch.com US: 1-888-691-6870