Pet Insurance Market: By Policy coverage (Accident only, Accident & illness, and other), By Animal (Cat, Dog and other), By Provider (Private & Public), and Geography

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Pet insurance market size was valued at US$ 4.6 billion in the year 2022 and is anticipated to grow at US$ 11.87 billion by 2029 recording a CAGR of 14.5% from 2023-2029. The growth of the market will be enhanced by growing preferences for pet humanization and increasing demand for pet grooming and care products. Growing companion animal number, rising health benefits of ownership of pets, increasing demand for creative insurance along with rising veterinary service costs are likely to fuel the growth of the market. On the other hand, the low penetration rate will further fuel several opportunities that will lead to the growth of the market in the forecast period. The lack of knowledge of pet insurance in emerging economies, together with the high cost of pet insurance policies, would hinder the growth of the pet insurance market during the forecast. The report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. 

Pet Insurance Market Summary

Study Period

2023 -2029

Base Year

2023

CAGR

14.5%

Largest Market

Europe

Fastest Growing Market

North America
Pet Insurance Market Dynamic

In the future, the pet insurance industry will see inflows of new and private entrants providing creative and affordable coverage. Present players are also making efforts to inform customers about the veterinarian costs and the different benefits of pet health insurance policies. In addition, different government agencies are making efforts to streamline and standardize pet health codes in order to ensure a seamless and reliable process of reimbursement. There are various and ongoing campaigns by pet insurance providers to raise customer understanding of different plans and the incentives associated with them. Players in the industry use social media and digital marketing as a way to improve consumer outreach by exchanging knowledge on different cat and dog breed insurance plans. The untapped and poorly penetrated markets are targeted by the majority of companies with the primary goal of acquiring a greater share.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup's details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market

Pet Insurance Market Segmentation

By Policy Coverage
  • Accident only
  • Accident & illness
  • Others
By Animal Type
  • Cat
  • Dog
  • Others
By Provider
  • Private
  • Public
By Geography
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • MEA

Frequently Asked Questions

The Pet Insurance Market size was valued at US$ 4.6 billion in the year 2022

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.

 
1.Executive Summary
2.Global Pet Insurance Market Introduction 
2.1.Global Pet Insurance Market  - Taxonomy
2.2.Global Pet Insurance Market  - Definitions
2.2.1.Policy coverage
2.2.2.Animal
2.2.3.Provider
2.2.4.Route of Administration
2.2.5.Region
3.Global Pet Insurance Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Pet Insurance Market Analysis, 2018-2022 and Forecast 2023-2029
4.1.  Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Pet Insurance Market  By Policy coverage, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
5.1. Accident only
5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Accident & illness
5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. other
5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
6.Global Pet Insurance Market  By Animal, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
6.1. Cat
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Dog
6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. other
6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
7.Global Pet Insurance Market  By Provider, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
7.1. Private
7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Public
7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Pet Insurance Market  By Route of Administration, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
8.1. Injection
8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Nasal Spray
8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
9.Global Pet Insurance Market  By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Pet Insurance Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
10.1. Policy coverage Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Accident only
10.1.2.Accident & illness
10.1.3.other
10.2.  Animal Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Cat
10.2.2.Dog
10.2.3.other
10.3.  Provider Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Private
10.3.2.Public
10.4.  Route of Administration Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Injection
10.4.2.Nasal Spray
10.5.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Pet Insurance Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
11.1. Policy coverage Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Accident only
11.1.2.Accident & illness
11.1.3.other
11.2.  Animal Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Cat
11.2.2.Dog
11.2.3.other
11.3.  Provider Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Private
11.3.2.Public
11.4.  Route of Administration Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Injection
11.4.2.Nasal Spray
11.5.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
11.5.6.Rest of EU
12.Asia Pacific (APAC) Pet Insurance Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
12.1. Policy coverage Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Accident only
12.1.2.Accident & illness
12.1.3.other
12.2.  Animal Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Cat
12.2.2.Dog
12.2.3.other
12.3.  Provider Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Private
12.3.2.Public
12.4.  Route of Administration Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Injection
12.4.2.Nasal Spray
12.5.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Pet Insurance Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
13.1. Policy coverage Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Accident only
13.1.2.Accident & illness
13.1.3.other
13.2.  Animal Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Cat
13.2.2.Dog
13.2.3.other
13.3.  Provider Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Private
13.3.2.Public
13.4.  Route of Administration Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Injection
13.4.2.Nasal Spray
13.5.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Pet Insurance Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
14.1. Policy coverage Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Accident only
14.1.2.Accident & illness
14.1.3.other
14.2.  Animal Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Cat
14.2.2.Dog
14.2.3.other
14.3.  Provider Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Private
14.3.2.Public
14.4.  Route of Administration Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Injection
14.4.2.Nasal Spray
14.5.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Anicom Holdings Inc.
15.2.2.Embrace Pet Insurance Agency LLC.
15.2.3.Figo Pet Insurance LLC.
15.2.4.Hartville Group
15.2.5.Health for Pet
15.2.6.Hollard
15.2.7.Petfirst Healthcare LLC.
15.2.8.Pethealth
15.2.9.Petplan
15.2.10.Royal & Sun Alliance
16. Research Methodology 
17. Appendix and Abbreviations 

 

  • Anicom Holdings Inc.
  • Embrace Pet Insurance Agency LLC.
  • Figo Pet Insurance LLC.
  • Hartville Group
  • Health for Pet
  • Hollard
  • Petfirst Healthcare LLC.
  • Pethealth
  • Petplan
  • Royal & Sun Alliance

Adjacent Markets