Global Domiciliary Insurance Market Projected to Grow at 13.3% CAGR, Reaching $85.59 Billion by 2029

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What Will the Domiciliary Insurance Industry Market Size Be by 2025?_x000D_
The size of the domiciliary insurance market has seen a significant increase in the past few years. It is projected to expand from $44.72 billion in 2024 to $51.88 billion in 2025, boasting a compound annual growth rate (CAGR) of 16.0%. The uptick in the historical span can be credited to factors such as homeownership, safeguarding of assets, stipulations of mortgage, awareness regarding disasters, and adherence to regulations._x000D_
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What's the Long-Term Growth Forecast for the Domiciliary Insurance Market Size Through 2029?_x000D_
Over the upcoming years, the domiciliary insurance market is predicted to witness a significant upsurge in size. By 2029, it is forecasted to expand to a worth of $85.59 billion, developing at a compound annual growth rate of 13.3%. Various factors such as shifts in housing patterns, environmental hazards, advancements in technology, personalization and customization, as well as economic circumstances contribute to this growth during the projected period. Furthermore, top trends that will shape this period include an increasing elderly population, the rise of home-based care, the integration of telehealth, and tailored insurance policies._x000D_
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What Are the Key Growth Drivers Fueling the Domiciliary Insurance Market Expansion?_x000D_
The increasing number of elderly people is anticipated to propel the growth of the domiciliary insurance market. Globally, the segment of the population aged 65 and above is expanding at a rapid pace. For example, as per a report by the United Nations, a US-based Intergovernmental organization, released in November 2022, the global population's percentage aged 65 and over is projected to rise from 10% in 2022 to 16% by 2050. The forecast suggests that by 2050, the global population of individuals aged 65 or older will be double the current number of children under five and nearly equal to those under 12 years. Hence, the booming elderly population is fueling the demand for domiciliary insurance in the market._x000D_
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What Are the Key Trends Driving Domiciliary Insurance Market Growth?_x000D_
Key entities in the domiciliary insurance market, such as Allianz Care Australia, are focusing on creating innovative insurance solutions including home treatment plans to boost market revenues. A home treatment program is a well-structured strategy permitting individuals to control their health issues or heal from ailments in their home. This often includes self-care regimes, managing medications, and making lifestyle changes to suit their specific needs. In September 2022, Allianz Care Australia, a medical assistance and insurance firm based in Australia, initiated a home treatment program specifically for overseas student health insurance members who need cancer care in Australia. This service lets members undergo cancer therapy at home rather than in a hospital, thus enhancing the wellbeing of the international students while offering a convenient alternative for those needing cancer treatment. Repeat cycle therapy, inclusive of chemotherapy, immunotherapy, infusions for chronic diseases, and other supportive therapies often recommended for cancer treatment will be provided to Allianz Care members as part of the program._x000D_
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How Is the Domiciliary Insurance Market Segmented?_x000D_
The domiciliary insurance market covered in this report is segmented - _x000D_
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1) By Insurance Type: Diseases Insurance, Medical Insurance, Income Protection Insurance, Other Insurance Types_x000D_
2) By Coverage Type: Lifetime Coverage, Term Coverage_x000D_
3) By Demographics: Minors, Adults, Senior Citizen_x000D_
4) By Network: Preferred Provider Organizations (PPOs), Point Of Services (POS), Health Maintenance Organization (HMOs), Exclusive Provider Organizations (EPOs)_x000D_
5) By Service Provider: Private, Public_x000D_
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Subsegments:_x000D_
1) By Diseases Insurance: Critical Illness Insurance, Chronic Diseases Insurance, Short-Term Illness Insurance_x000D_
2) By Medical Insurance: Inpatient Medical Insurance, Outpatient Medical Insurance, Preventive Care Insurance_x000D_
3) By Income Protection Insurance: Short-Term Income Protection, Long-Term Income Protection_x000D_
4) By Other Insurance Types: Accident Insurance, Disability Insurance, Long-Term Care Insurance_x000D_
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Which Companies Are Leading the Charge in Domiciliary Insurance Market Innovation?_x000D_
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 Healthcare Ltd., Broadstone Corporate Benefits Limited, HBF Health Limited, Healthcare 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 _x000D_
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Which Regions Are Leading the Global Domiciliary Insurance Market in Revenue?_x000D_
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_x000D_
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