Coronavirus Travel Insurance Market 2025-2029: Unveiling Growth Developments with the Latest Updates

The Business Research Company

The Business Research Company’s Coronavirus Travel Insurance Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, September 2, 2025 /EINPresswire.com/ -- What Is The Expected Cagr For The Coronavirus Travel Insurance Market Through 2025?
The market size of travel insurance related to coronavirus has experienced quick expansion in the past years. The projected growth shows an increase from $4.03 billion in 2024 to $4.53 billion in 2025, yielding a compound annual growth rate (CAGR) of 12.4%. This significant growth during the historical period can be associated with the increasing apprehension about sudden border shutdowns, the growing requirement for emergency evacuation services, an increase in instances of boarding denial due to symptoms, a spike in demand for covid-19 diagnostic cover, and a higher demand from travelers for flexible refund alternatives.

In the coming years, the market size for coronavirus travel insurance is anticipated to expand rapidly, reaching $7.16 billion by 2029 with a compound annual growth rate (CAGR) of 12.1%. The expected growth during the forecast period stems from factors such as the steady revival of international travel, heightened awareness regarding pandemic-linked threats, increasing need for trip cancellation protection, the arrival of new COVID-19 variants, and compulsory insurance clauses by target countries. Key trends projected to play a role during this period include enhanced digital insurance platforms, creation of parametric travel insurance products, innovative offerings for COVID-related coverage, improving embedded travel insurance in booking applications, and the emergence of AI-powered fraud detection systems.

Download a free sample of the coronavirus travel insurance market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=27064&type=smp

What Are The Driving Factors Impacting The Coronavirus Travel Insurance Market?
The surge in international and leisure trips is anticipated to fuel the expansion of the coronavirus travel insurance market in the future. This type of travel primarily involves crossing national boundaries for rest, holidays, or personal pleasure, as opposed to business or work. With multiple nations easing their COVID-19 travel regulations, there has been a rise in international and leisure travel, making it more convenient and attractive for individuals to undertake overseas leisure travel. Coronavirus travel insurance aids these situations, offering economic security and medical insurance if travelers encounter COVID-19-related interruptions overseas. As per data from a paper released by the International Trade Administration, a government agency in the US, in September 2023, the total number of outbound U.S. tourists to foreign countries, Canada, and Mexico in 2022 hit 80.7 million, which is a 64% growth from 2021. As such, the accelerating trend of international and leisure travel is bolstering the coronavirus travel insurance market’s expansion.

Which Players Dominate The Coronavirus Travel Insurance Industry Landscape?
Major players in the Coronavirus Travel Insurance Global Market Report 2025 include:

• Allianz SE
• Ping An Insurance Company Ltd.
• China Life Insurance Company Limited
• AXA Assistance SA
• Assicurazioni Generali
• American International Group Inc.
• AIG Travel Guard Group Inc.
• Tokio Marine HCC
• Chubb Limited
• TUI AG

What Are The Prominent Trends In The Coronavirus Travel Insurance Market?
Leading corporations active in the Covid-19 travel insurance market are putting their efforts into launching creative solutions, such as digital travel insurance for Covid-19, to simplify the issuance and processing of claims for tourists. Covid-19 digital travel insurance is a technologically-advanced insurance policy that caters to travel problems related to the pandemic, equipped with provisions like online purchase, electronic documentation, and contact-free claims processing. For instance, Virgin Money, a finance company based in the UK, unveiled a new entirely digital travel insurance product with standard Covid-19 coverage in March 2022. This offering provides cancellation coverage if a traveler is tested positive for Covid-19 within a 14-day period before setting off, along with medical treatment and repatriation coverage if Covid-19 is caught overseas. Available as either a single trip or an annual multi-trip policy with three tiers of coverage (red, silver, and gold), it also boasts additional perks such as coverage for gadgets, winter sports, cruises, and an excess of car rental options. The policies, written by ERGO and developed collaboratively with Hood Group, allow customers to manage their insurance entirely via the internet.

Global Coronavirus Travel Insurance Market Segmentation By Type, Application, And Region
The coronavirus travel insurance market covered in this report is segmented –

1) By Coverage Type: Trip Cancellation, Medical Expenses, Emergency Evacuation, Trip Interruption, Other Coverage Types
2) By Duration Of Coverage: Single Trip Insurance, Annual Multi-Trip Insurance, Long-Term Insurance, Short-Term Insurance
3) By Distribution Channel: Online, Insurance Agents, Insurance Brokers, Other Distribution Channels
4) By Application: International Aviation, Domestic Aviation, High-Speed Rail, Other Applications
5) By End-User: Individual, Business Travelers, Other End-Users

Subsegments:
1) By Trip Cancellation: Pre Departure Trip Cancellation, Last Minute Trip Cancellation, Tour Operator Cancellation, Airline Cancellation, Government Travel Ban Cancellation
2) By Medical Expenses: Hospitalization Costs, Doctor Consultation Fees, Prescription Medication, COVID-19 Testing Expenses, Outpatient Treatment
3) By Emergency Evacuation: Air Ambulance Services, Ground Medical Transport, Repatriation To Home Country, Transfer To Closest Medical Facility, Travel Companion Evacuation
4) By Trip Interruption: Return Transportation Costs, Missed Travel Connections, Lost Accommodation Costs, Unused Tour Or Activity Reimbursement, Quarantine Related Trip Delay
5) By Other Coverage Types: Travel Delay Compensation, Quarantine Accommodation Coverage, Twenty Four Hours Emergency Assistance, Travel Document Replacement, Personal Belongings Protection

View the full coronavirus travel insurance market report:
https://www.thebusinessresearchcompany.com/report/coronavirus-travel-insurance-global-market-report

Which Region Holds The Largest Market Share In The Coronavirus Travel Insurance Market?
For the year indicated in the Coronavirus Travel Insurance Global Market Report 2025, North America stood as the leading region. It is anticipated that Asia-Pacific will experience the most rapid growth within the forecasted period. The report encompasses several regions which include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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