Global Domiciliary Insurance Market Size, Drivers, Trends, Opportunities And Strategies Domiciliary Insurance Market Growth
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The growing geriatric population are expected to drive innovation in domiciliary insurance manufacturing, thus driving the market during the forecast period.
The global domiciliary insurance market is expected to grow from $32.42 billion in 2022 to $38.35 billion in 2023 at a compound annual growth rate (CAGR) of 18.3%. The domiciliary insurance market is expected to grow from $66.69 billion in 2027 at a CAGR of 14.8%.
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Global Domiciliary Insurance Market Segments Include:
- By Insurance Type: Diseases Insurance, Medical Insurance, Income Protection Insurance, Other Insurance Types
- By Coverage Type: Lifetime Coverage, Term Coverage
- By Demographics: Minors, Adults, Senior Citizen
- By Network: Preferred Provider Organizations (PPOs), Point Of Services (POS), Health Maintenance Organization (HMOs), Exclusive Provider Organizations (EPOs)
- By Service Provider: Private, Public
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global domiciliary insurance market in 2021.
Major Market Players in the domiciliary insurance market include Cigna Corporation, AIA Insurance Group, Allianz SE, AXA, Aviva PLC., Aetna, Inc. HDFC Ergo, and Munich Re.
The companies in the domiciliary insurance market are focusing on the launch of the home treatment programs for overseas patients. The home treatment program provides healthcare services to patients at their home. It takes place when a therapist provides counseling in a person’s home. For example, in September 2022, Allianz Care Australia, an Australia based a medical assistance and insurance company, launched a home treatment program for overseas student health insurance members who require cancer treatment in Australia. The program enables members to receive cancer treatment at home instead of a hospital, improving the lives of overseas students and providing another option for persons requiring cancer treatment. As part of the program, Allianz Care members will receive repeat cycle treatment, including chemotherapy, immunotherapy, chronic illness infusions, and other supportive therapies commonly prescribed for cancer treatment.
The Domiciliary Insurance Global Market Report 2023 provides a domiciliary insurance market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The domiciliary insurance market forecast analyzes domiciliary insurance market size, domiciliary insurance market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Domiciliary insurance is a type of health insurance in which the policyholder is considered hospitalized even when receiving treatment at home. Home-based treatments for an injury, cure, or disease are also covered by health insurance, and policyholders are compensated for them.
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