Overview as of June 2024
The health and dental insurance market in Brazil continues to show steady growth, with significant developments over the past decade. As of June 2024, the number of beneficiaries in health insurance plans stands at 51.1 million, a slight increase from the 49.5 million recorded ten years ago. Meanwhile, dental insurance plans have experienced remarkable growth, with 33.4 million beneficiaries today compared to just 19.6 million a decade ago. This represents a 3% increase in health plan beneficiaries and an impressive 66% surge in dental plan beneficiaries over the last ten years.
The financial performance of the market has also expanded substantially. In 2013, the total billing volume amounted to 109.9 billion Brazilian Reais. By 2023, this figure had skyrocketed to 282.3 billion Reais, marking a nominal growth of 157% over the decade. This surge in market value underscores the increasing demand for health and dental insurance services in Brazil, driven by both corporate clients and individual consumers.
In terms of financial performance as of June 2024, the insurance market has recorded revenues from services totaling 152.5 billion Reais. On the expense side, assistance-related costs reached 125.7 billion Reais, while operating expenses stood at 14.7 billion Reais, and commercial expenses amounted to 5.3 billion Reais. These figures illustrate the market's capacity to generate significant revenue, though operational costs remain substantial, reflecting the complexities of managing health and dental services in Brazil.
The distribution of beneficiaries by type of contract shows that corporate plans dominate both the health and dental segments. For health plans, 71% of beneficiaries are enrolled in corporate plans, followed by individual and family plans at 17.2%. Collective plans by adhesion account for 11.7%, while other types of plans represent a negligible 0.1%. In the dental insurance market, the breakdown is similar: 70.8% of beneficiaries are part of corporate plans, 20.4% are enrolled in individual and family plans, and 8.8% are covered by collective plans by adhesion, with only 0.01% falling under other categories.
A closer look at the competitive landscape reveals that in the health insurance sector, 51.8% of beneficiaries are served by companies with more than 500,000 members, reflecting the dominance of larger players. In contrast, companies with fewer than 100,000 beneficiaries account for 24%, and those with up to 500,000 members cover 24.2%. The dental insurance sector is even more concentrated, with 75.2% of beneficiaries affiliated with companies that have over 500,000 members. Smaller companies, those with fewer than 100,000 members, account for only 10.5%, while those with up to 500,000 beneficiaries make up 14.3%.
The health and dental insurance market in Brazil continues to show steady growth, with significant developments over the past decade. As of June 2024, the number of beneficiaries in health insurance plans stands at 51.1 million, a slight increase from the 49.5 million recorded ten years ago. Meanwhile, dental insurance plans have experienced remarkable growth, with 33.4 million beneficiaries today compared to just 19.6 million a decade ago. This represents a 3% increase in health plan beneficiaries and an impressive 66% surge in dental plan beneficiaries over the last ten years.
The financial performance of the market has also expanded substantially. In 2013, the total billing volume amounted to 109.9 billion Brazilian Reais. By 2023, this figure had skyrocketed to 282.3 billion Reais, marking a nominal growth of 157% over the decade. This surge in market value underscores the increasing demand for health and dental insurance services in Brazil, driven by both corporate clients and individual consumers.
In terms of financial performance as of June 2024, the insurance market has recorded revenues from services totaling 152.5 billion Reais. On the expense side, assistance-related costs reached 125.7 billion Reais, while operating expenses stood at 14.7 billion Reais, and commercial expenses amounted to 5.3 billion Reais. These figures illustrate the market's capacity to generate significant revenue, though operational costs remain substantial, reflecting the complexities of managing health and dental services in Brazil.
The distribution of beneficiaries by type of contract shows that corporate plans dominate both the health and dental segments. For health plans, 71% of beneficiaries are enrolled in corporate plans, followed by individual and family plans at 17.2%. Collective plans by adhesion account for 11.7%, while other types of plans represent a negligible 0.1%. In the dental insurance market, the breakdown is similar: 70.8% of beneficiaries are part of corporate plans, 20.4% are enrolled in individual and family plans, and 8.8% are covered by collective plans by adhesion, with only 0.01% falling under other categories.
A closer look at the competitive landscape reveals that in the health insurance sector, 51.8% of beneficiaries are served by companies with more than 500,000 members, reflecting the dominance of larger players. In contrast, companies with fewer than 100,000 beneficiaries account for 24%, and those with up to 500,000 members cover 24.2%. The dental insurance sector is even more concentrated, with 75.2% of beneficiaries affiliated with companies that have over 500,000 members. Smaller companies, those with fewer than 100,000 members, account for only 10.5%, while those with up to 500,000 beneficiaries make up 14.3%.
When examining market share growth, AMIL Assistência Médica Internacional S.A. leads the list of companies with the highest growth, increasing its market share by 1.17%. Porto Seguro - Seguro Saúde S/A follows with a 0.37% increase, while Sul América Saúde gained 0.14%. Paraná Clínicas and Samedil Serviços de Atendimento Médico S/A also posted market share increases of 0.13% and 0.11%, respectively. These players have been key drivers of the market's expansion and competition.
In terms of overall market dominance, five companies stand out as leaders: Unimed, Bradesco Saúde, Sul América Saúde, AMIL Assistência Médica Internacional S.A., and Notre Dame Intermédica Saúde. Together, these entities control a significant portion of the market, illustrating the concentrated nature of the industry. The top 100 competitors hold 95.45% of the total market share, with 504 entities reporting revenues during the analyzed period.
This consolidated market structure suggests that while competition exists, the dominance of a few major players remains a defining feature of the Brazilian health and dental insurance market. Looking ahead, the continued growth of dental plans, in particular, offers substantial opportunities for insurers seeking to expand their portfolios in a market that has shown resilience and potential for further development.
