Global Pet Insurance Market Overview And Prospects – Includes Pet Insurance Market Size
Learn about the global pet insurance market through The Business Research Company, which provides information on pet insurance market size, pet insurance market drivers and restraints, pet insurance market players, the COVID-19 impact on the pet insurance market, and more.
The global pet insurance market is expected to grow from $5.91 billion in 2021 to $6.94 billion in 2022 at a compound annual growth rate (CAGR) of 12.34%. The global pet insurance market size is expected to reach $11.18 billion in 2026 at a CAGR of 13.90%.
The increasing number of pet adoptions is expected to continue during the forecast period, driving the pet insurance market
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The pet insurance market consists of sales of pet insurance by entities (organizations, sole traders, and partnerships) that are bought by a pet owner, which helps them to bring down the overall cost of expensive veterinary bills in case of accidents or health issues. It can help reduce the financial risk of unexpected veterinary costs.
Global pet insurance market segments include:
By Policy Coverage: Accident and Illness, Accident Only
By Animal Type: Dog, Cat
By Provider: Public, Private
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global pet insurance market in 2021.
Advancements and awareness in pet insurance have been a major trend in this market. Digital solution providers are looking to collaborate with insurers to enhance the customer experience for insureds through value-added services.
Major Market Players: Trupanion Inc., Deutsche Familienversicherung AG (DFV), Petplan (Allianz), Animal Friends Insurance Services Limited, Figo Pet Insurance LLC, Direct Line, Nationwide Mutual Insurance Company, Embrace Pet Insurance Agency LLC, Anicom Insurance, ipet Insurance Co. Ltd., Hartville Group, Pet Assure Corp., PetFirst, Royal & Sun Alliance (RSA), Agria Pet Insurance Ltd., and 24PetWatch.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Pet Insurance Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides pet insurance market overviews, analyzes and forecasts market size, share, pet insurance market players, pet insurance market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s pet insurance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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