The Business Research Company’s Domiciliary Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, August 18, 2021 /EINPresswire.com/ — Companies are concentrating on the release of policies specific to COVID-19. With the surge in the coronavirus pandemic cases, a large number of people getting affected have strained the hospital and healthcare services further making bed availability a challenge. However, as all cases do not require hospitalization, hospitals are requesting the affected people to take treatment at their homes. Even people are opting for home treatment to ensure safe and effective treatment due to the fear of contracting a secondary infection from other patients in public hospitals, and the high price charges of private hospitals. This has allowed the companies in the domiciliary insurance market to cater the domiciliary insurance services along with the normal health insurance policy specific to COVID. For instance, ICICI Lombard has decided to cover the home health services for the treatment of COVD-19 with coverage for domiciliary hospitalization.
The global domiciliary insurance market size is expected to grow from $30.82 billion in 2020 to $31.25 billion in 2021 at a compound annual growth rate (CAGR) of 1.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The domiciliary insurance market is expected to reach $52.31 billion in 2025 at a CAGR of 13.7%.
Major players in the domiciliary insurance industry are Cigna Corporation, AIA Insurance Group, Allianz SE, AXA, Aviva plc, Aetna, Inc. HDFC Ergo, and Munich Re.
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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 lack of accommodation at the hospital or because the patient’s condition does not permit them to get admitted to the hospital.
TBRC’s domiciliary insurance market report is segmented by insurance type into diseases insurance, medical insurance, income protection insurance, others. It is also segmented by coverage type into lifetime coverage, term coverage; by demographics into minors, adults, senior citizen; by network into preferred provider organizations (PPOs), point of services (POS), health maintenance organization (HMOs), exclusive provider organizations (EPOS); by service provider into private, public.
Domiciliary Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030 is one of a series of new reports from The Business Research Company that provides domiciliary insurance market overview, forecast domiciliary insurance market size and growth for the whole market, domiciliary insurance market segments, and geographies, domiciliary insurance market trends, domiciliary insurance market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Insurance Global Market Report 2021 – By Type (Life Insurance, Property & Casualty Insurance, Health & Medical Insurance), By End User (Corporate, Individual), By Mode (Online, Offline), COVID-19 Impact And Recovery
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Hospitalization Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030
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