The global domiciliary insurance market size is expected to grow from $27.15 billion in 2021 to $32.42 billion in 2022 at a compound annual growth rate (CAGR) of 19.4%. The global domiciliary insurance market size is expected to grow to $59.01 billion in 2026 at a CAGR of 16.2%.
What is the Global Domiciliary Insurance Market?
The domiciliary insurance market consists of sales of domiciliary insurance services by entities that are engaged in direct underwriting insurance policies for home-based treatment done for a disease, illness, or injury. The home treatment could be because of a lack of accommodation at the hospital or because the patient's condition does not permit them to get admitted to the hospital.
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What drives the Global Domiciliary Insurance Market?
The growing geriatric population is expected to propel the domiciliary insurance market. The population of the world is growing older, with the age group of 65 and above being the fastest growing. For instance, according to World Population Prospects 2019 data released by the Population Division of the United Nations Department of Economic and Social Affairs, by 2050, one out of six people in the world will be over 65 (16%), a rise from the one in 11 in 2019 (9 %) and the number of people aged 80 or over is estimated to triple, from 143 million in 2019 to 426 million in 2050. The rise in the geriatric population means a population with more health problems that require constant care and have limited ability to move which makes them depend on health services at the comfort of their homes.
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Global Domiciliary Insurance Market Segments
The global domiciliary insurance market is segmented:
By Insurance Type: Diseases Insurance, Medical Insurance, Income Protection Insurance, Others
By Coverage Type: Lifetime Coverage, Term Coverage
By Demographics: Minors, Adults, Senior Citizens
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 regions covered in the chartered air transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Domiciliary Insurance Global Market Report 2022provides market size and growth forecasts for the global domiciliary insurance market, global domiciliary insurance market share, domiciliary insurance market segments and geographies, domiciliary insurance market competitive landscape including leading competitors’ revenues, profiles and market shares. The domiciliary insurance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Domiciliary Insurance Industry Playersinclude Cigna Corporation, AIA Insurance Group, Allianz SE, AXA, Aviva plc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
