Description

Data Bridge Market Research analyses that the global pet insurance market which was USD 4,203.54 million in 2022, would rocket up to USD 26,677.03 million by 2030, and is expected to undergo a CAGR of 9.40% during the forecast period. This indicates that the market value. “Lifetime Cover Pet Insurance” is expected to dominate the product type segment of the pet insurance market owing to the rise in the incidence of chronic diseases. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

According to the survey 2019 North American Pet Health Insurance Association (NAPHIA), the average cost for pet insurance in the U.S. in 2019 was USD 585.40 per year for dogs and USD 349.93 for cats. The market for pet insurance in the United States was valued at USD 1.56 billion. Furthermore, this will directly create a chance for players to capture untapped customers and offer various items to enhance sales and customer satisfaction. It also helps to mitigate the financial risk of unforeseen veterinary bills by covering accidents and illnesses such as cancer, hip dysplasia, glaucoma, parvovirus, and others and medicine and surgery.                         

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Sample Report:  https://www.databridgemarketresearch.com/reports/global-pet-insurance-market

Market Analysis and Insights: Global Pet Insurance Market

Pet insurance is a type of insurance designed for pets. Pet insurance refers to a pet owner's coverage that helps reduce the overall costs of pricey veterinary expenses. Pet insurance primarily pays for the treatment of an insured owner's wounded or sick animal. It will also be covered if your pet dies, is stolen, or goes missing. Dogs, cats, and horses are typically covered by pet insurance coverage. Some pet insurance policies cover routine treatment like general checkups and preventative care, such as teeth cleaning and deworming, as well as immunizations. All unforeseen veterinarian care expenditures are covered by pet insurance.

The growing number of pet owners and the strengthening human-animal bond drive the demand for pet insurance. Pet owners consider their pets as family members and are willing to invest in their healthcare. This increased awareness and emotional attachment fuel the growth of the pet insurance market.

Technological advancements in veterinary medicine, such as advanced surgeries, imaging techniques, and specialized treatments, have improved the quality of pet healthcare. Pet insurance enables pet owners to access these advanced treatments without the worry of exorbitant costs, driving the adoption of insurance plans.

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Pet Insurance Market Scope and Market Size

The pet insurance market is segmented on the basis of policy type, animal type, and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Policy Type

• Lifetime Cover
• Illness Cover
• Accident Cover
• Non-Lifetime Cover
• Illness Cover
• Accident Cover

Animal type

• Dog
• Cat
• Horse
• Others

End-User

• Agency
• Broker
• Bancassurance
• Direct Writing

Get TOC of the Report: https://www.databridgemarketresearch.com/toc/?dbmr=global-pet-insurance-market

Major TOC of the Pet Insurance Market Report

Chapter One:

MARKET SEGEMENTATION

EXECUTIVE SUMMARY  

PREMIUM INSIGHTS

MARKET OVERVIEW

Pet Insurance Market Scope Country Level Analysis

The pet insurance market is analysed and market size insights and trends are provided by country, policy type, animal type and end-user as referenced above.

The countries covered in the  Arrhythmia Monitoring Devices  Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Competitive Landscape and Pet Insurance Market Share Analysis

The pet insurance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the pet insurance market.

The major players covered in Pet Insurance market report are

• Nationwide Building Society (U.S)
• Trupanion (U.S)
• Pethealth Inc. (U.S)
• Embrace Pet Insurance Agency LLC (U.S)
• United States Fire Insurance Company (U.S)
• Petplan Ltd. (U.K)
• Hartville Group, Inc. (U.S)
• Petfirst Healthcare LLC (U.S)
• Anicom Holdings Inc. (Japan)
• RSA (U.K)
• ipet Insurance (Japan)
• The Oriental Insurance Company Ltd. (India)
• Figo Pet Insurance, LLC (U.S)
• Direct Line (U.K)
• Animal Friends Insurance Services Limited (U.K)

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