Blood Transfusion Diagnostics Industry Report 2024: Market Trends and Competitive Landscape

Global domiciliary insurance market size is expected to reach $75.49 Bn by 2028 at a rate of 14.0%, segmented as by insurance type, diseases insurance, medical insurance, income protection insurance, other insurance types

Jun 19, 2024 - 13:36

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Blood Transfusion Diagnostics Industry Report 2024: Market Trends and Competitive Landscape

Overview and Scope
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.

Sizing and Forecast
The domiciliary insurance market size has grown rapidly in recent years. It will grow from $38.35 billion in 2023 to $44.72 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to homeownership, asset protection, mortgage requirements, disaster awareness, regulatory compliance.

The domiciliary insurance market size is expected to see rapidly grown in the next few years. It will grow to $75.49 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to changing housing trends, environmental risks, technological advances, personalization and customization, economic conditions. Major trends in the forecast period include aging population, home-based care, telehealth integration, customized policies.

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Segmentation & Regional Insights
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

North America was the largest region in the domiciliary insurance market in 2023. Asia-Pacific was the second largest region in the domiciliary insurance market. The regions covered in the domiciliary insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growing geriatric population is expected to drive 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 Health Organization, there were about 1 billion people aged 60 years and above in the world. The number is expected to reach 1.4 billion by 2030 and 2.1 billion by 2045. 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 dependent on health services in the comfort of their homes. Moreover, even healthcare providers prefer treating them at home unless there is a major emergency, as these services are expensive. People are opting for domiciliary insurance as a separate policy or along with their health insurance plan to cover these home hospitalization treatment costs, which further contributes towards the growth of the market.

Key Industry Players
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

The domiciliary insurance market report table of contents includes:

1. Executive Summary
2. Blood Transfusion Diagnostics Market Characteristics
3. Blood Transfusion Diagnostics Market Trends And Strategies
4. Blood Transfusion Diagnostics Market - Macro Economic Scenario
5. Global Blood Transfusion Diagnostics Market Size and Growth
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31. Global Blood Transfusion Diagnostics Market Competitive Benchmarking
32. Global Blood Transfusion Diagnostics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Blood Transfusion Diagnostics Market
34. Blood Transfusion Diagnostics Market Future Outlook and Potential Analysis
35. Appendix