Pet Insurance Market

Pet Insurance Market Growth Drivers 2022, Industry Share Size, Global Demand, Emerging Trends, Opportunities, Key Players Strategies and SWOT Analysis 2030

Pet Insurance Market valued at USD 4.5 Billion in 2020 is projected to reach USD 32.7 Billion by 2030, at a lucrative CAGR of 16.7%.

Pet insurance is a policy purchased by the pet owner to pay for the veterinarian treatment of the covered pet’s illness or injury in part or in full.

Some policies may cover pet death, as well as loss or theft. Furthermore, rising medical costs in veterinary treatment, as well as the use of pricey medical techniques and pharmaceuticals, are driving the demand for pet insurance.

Growing and rising demand for pet insurance market plans, as well as a growing need for financial security in the event of a surge in uncertainties, are driving the global pet insurance market forward.

Furthermore, the increase in the number of veterinary clinics has a significant impact on market growth. However, the market is hampered by a lack of understanding about pet insurance policies and high premium costs.

Pet insurers are increasingly relying on cutting-edge technology to track their pets’ activities. Health monitoring, fitness tracking, location alerts, and diet suggestions are all available with Whistle and PitPat pet tracker devices. Pet insurance consumers, on the other hand, are hesitant to employ technology and equipment to follow their pets.

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Global Pet Insurance Market: Segmentations

By Key Players

  • Embrace Pet Insurance Agency LLC
  • Figo Pet Insurance LLC
  • Petplan
  • Hartville Group
  • Royal & Sun Alliance (RSA)
  • Trupanion
  • Healthy Paws Pet Insurance LLC
  • co.za
  • Animal Friends Insurance
  • Pets Best Insurance Services, LLC
  • Ipet Insurance
  • Direct Line
  • Nationwide Mutual Insurance Company
  • Crum & Forster
  • Oneplan
  • Nationwide
  • Animal Friends Insurance Services Limited
  • Metlife Services and Solutions LLC
  • Petplan
  • Deutsche Familienversicherung AG
  • Joii Pet Care
  • Agria Pet Insurance Ltd
  • 24PetWatch
  • Health for Pet
  • Petsure Pty Ltd
  • The Oriental Insurance Company Ltd
  • Medibank Private Limited

Based On Policy Type:

  • Accidents only
  • Accident and Illness
  • Others

Based On Animal Type:

  • Dogs
  • Cats
  • Horses
  • Rabbits
  • Exotic
  • Others

Based On Provider:

  • Public
  • Private

Based On Sales:

  • Agency
  • Broker
  • Direct
  • Bancassurance
  • Others

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Key Benefits for Stakeholders    

  1. The study provides an in-depth analysis of the global pet insurance market forecast along with current & future trends to explain the imminent investment pockets.
  2. Information about key drivers, restraints, & opportunities and their impact analysis on global pet insurance market trends is provided in the report.
  3. Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  4. The quantitative analysis of the pet insurance market from 2021 to 2030 is provided to determine the market potential.

Frequently Asked Questions

  1. What is the expected growth rate of this market?
  2. What is the projected market value of this market?
  3. Who are the key market players in this market?
  4. What market share is held by the accident and illness policy type?
  5. Which factors are boosting pet insurance market growth?

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