Health and Dental plans direct income in Brazil - Market share growth ranking
The health and dental insurance market in Brazil continues to exhibit robust growth, as evidenced by the Q3 2023 summary. With a staggering 50.9 million beneficiaries, the market is showcasing the increasing importance placed on healthcare coverage among the population. Of note is the significant number of individuals covered by dental plans, standing at 32.2 million.
In financial terms, the Q3.2023 sector's performance shows that revenue reached 205.6 billion Reales, while 177.9 billion Reales were allocated to health expenses and operational and commercial costs accounted for 20.8 billion Reales and 7.0 billion Reales, respectively.
Examining the competitive landscape, in the ranking of the top five companies experiencing the highest growth in market share SUL AMERICA SAUDE leads the pack with a 0.72% market share points increase, followed by PREVENT SENIOR (0.30%), AMIL ASSISTENCIA MEDICA (0.29%), PORTO SEGURO SAUDE (0.19%), and HAPVIDA ASSISTENCIA MEDICA (0.09%).
In terms of market share, the dominance of UNIMED remains unchallenged, commanding a substantial 34.3%. Following closely are BRADESCO SAUDE (11.6%), SUL AMERICA SAUDE (9.8%), AMIL ASSISTENCIA MEDICA (6.9%), and NOTRE DAME INTERMEDICA SAUDE (4.7%). This concentration of market share among a few key players emphasizes the competitive nature of the industry and the significance of brand recognition and service quality.
A broader view reveals that the top 100 competitors collectively hold an impressive 95.17% market share, consolidating the industry's concentration. Despite the dominance of these major players, the market remains diverse, with a total of 504 entities contributing to the sector's revenue during the analyzed period.
