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Rising Geriatric Population Fuels Demand For Domiciliary Insurance: An Emerging Driver Transforming The Domiciliary Insurance Market Landscape
The Domiciliary Insurance Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].What Is the Projected Growth of the Domiciliary Insurance Market?
The domiciliary insurance market has grown rapidly, increasing from $44.72 billion in 2024 to $51.88 billion in 2025 at a CAGR of 16.0%. The growth is attributed to trends in homeownership, asset protection, mortgage requirements, disaster preparedness, and regulatory compliance.
The domiciliary insurance market is expected to rapidly expand to $85.59 billion in 2029 at a CAGR of 13.3%. Growth will be supported by evolving housing preferences, environmental challenges, and a greater focus on customized coverage options. Trends include aging populations, at-home healTH*Care, integration with telehealth platforms, and flexible insurance products.
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What Are the Different Domiciliary Insurance Market Segments?
The domiciliary insurance market covered in this report is segmented -
1) By Insurance Type: Diseases Insurance, Medical Insurance, Income Protection Insurance, Other Insurance Types
2) By Coverage Type: Lifetime Coverage, Term Coverage
3) By Demographics: Minors, Adults, Senior Citizen
4) By Network: Preferred Provider Organizations (PPOs), Point Of Services (POS), Health Maintenance Organization (HMOs), Exclusive Provider Organizations (EPOs)
5) By Service Provider: Private, Public
Subsegments:
1) By Diseases Insurance: Critical Illness Insurance, Chronic Diseases Insurance, Short-Term Illness Insurance
2) By Medical Insurance: Inpatient Medical Insurance, Outpatient Medical Insurance, Preventive Care Insurance
3) By Income Protection Insurance: Short-Term Income Protection, Long-Term Income Protection
4) By Other Insurance Types: Accident Insurance, Disability Insurance, Long-Term Care Insurance
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What Are the Primary Drivers Shaping the Domiciliary Insurance Market?
The growing elderly population is expected to boost the domiciliary insurance market. The global population is aging, particularly those aged 65 and above, which is the fastest-growing age group. For example, a report by the United Nations in November 2022 indicated that the global population aged 65 and older will increase from 10% in 2022 to 16% by 2050. By then, the number of people aged 65 and older will be twice the number of children under five and almost equal to the number of children under 12. This demographic shift is contributing to the growth of the domiciliary insurance market.
Which Companies Are Leading in the Domiciliary Insurance Market?
Major companies operating in the domiciliary insurance market include Cigna Group, AIA Group Limited, Allianz SE, AXA SA, Aviva plc, Aetna Inc., HDFC ERGO General Insurance Company Limited, Munich Re Group, ICICI Lombard General Insurance Company Limited, Religare Health Insurance Company Limited, Edelweiss General Insurance Company Limited, Anthem Insurance Companies Inc., Blue Cross Blue Shield Association, Humana Inc., Health Care Service Corporation, Highmark Inc., Kaiser Foundation Health Plan Inc., UnitedHealth Group Incorporated, WellCare Health Plans Inc., Centene Corporation, Allianz Care, BMI HealTH*Care Ltd., Broadstone Corporate Benefits Limited, HBF Health Limited, HealTH*Care International Global Network Ltd., Aditya Birla Health Insurance Limited, Bajaj Allianz Health Insurance Company Limited, Bharti AXA General Insurance Company Limited, Kotak Mahindra General Insurance Company Limited, Oriental Insurance Company Ltd., Reliance General Insurance Company Limited, SBI General Insurance Company Limited, Next Insurance Inc., Ethos Life Insurance Services
What Trends Are Expected to Dominate the Domiciliary Insurance Market in the Next 5 Years?
Companies in the domiciliary insurance market are innovating new insurance policies, such as home treatment programs, to drive market growth. In September 2022, Allianz Care Australia introduced a home treatment program for overseas students needing cancer treatment in Australia. This program allows patients to receive cancer treatment at home instead of a hospital, improving convenience and reducing the need for hospital visits, offering chemotherapy, immunotherapy, and chronic illness infusions.
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What Are the Top Revenue-Generating Geographies in the Domiciliary Insurance Market?
The countries covered in the domiciliary insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Domiciliary Insurance Market?
2. What is the CAGR expected in the Domiciliary Insurance Market?
3. What Are the Key Innovations Transforming the Domiciliary Insurance Industry?
4. Which Region Is Leading the Domiciliary Insurance Market?
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