According to the latest report by IMARC Group, titled, “Pet Insurance Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027“, the global pet insurance market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.
Pet insurance refers to a healthcare policy for pets that provides reimbursement against treatment expenditures and veterinary bills. It involves the payment of monthly premiums based on the age, species, breed and illness of the pet. The insurance policy covers the treatment costs of accidents, injuries, death due to illness, hospitalization, poisoning and surgeries. It provides partial or complete coverage against veterinary procedures for dogs, cats and other animals. It also aids in minimizing the overall expenditure of pet healthcare and providing access to premium veterinary services and professionals.
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/pet-insurance-market/requestsample
The global pet insurance market is primarily being driven by the increasing preference for pet ownership and humanization among the masses. Pet owners are widely adopting insurance policies that cover treatment costs for burns, chronic ailments and urinary tract infections (UTIs). Moreover, various technological advancements, such as the development of portable activity monitors for tracking weight and exercise levels of animals, are providing a thrust to the market growth. Other factors, including the increasing prevalence of cancer among dogs, along with the implementation of various government initiatives promoting the adoption of pet insurance, are anticipated to drive the market toward growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Agria Pet Insurance Ltd.
- Anicom Holdings Inc.
- Direct Line Insurance Group plc
- Embrace Pet Insurance Agency LLC
- Figo Pet Insurance LLC
- Hartville Group
- Healthy Paws Pet Insurance LLC
- Medibank Private Limited
- MetLife Services and Solutions LLC
- Nationwide Mutual Insurance Company
- Pethealth Inc.
- Petplan (Allianz Insurance plc)
- The Oriental Insurance Company Ltd.
Ask Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/pet-insurance-market
The report has segmented the market based on policy, animal and provider.
Breakup by Policy:
- Illnesses and Accidents
- Chronic Conditions
Breakup by Animal:
Breakup by Provider:
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
Browse Other Reports by IMARC Group:
Data Wrangling Market Report: https://www.imarcgroup.com/data-wrangling-market
Alopecia Treatment Market Report: https://www.imarcgroup.com/alopecia-treatment-market
Anti-Rheumatics Market Report: https://www.imarcgroup.com/anti-rheumatics-market
Push-to-Talk Over Cellular Market Report: https://www.imarcgroup.com/push-to-talk-over-cellular-market
Auto Dimming Mirror Market Report: https://www.imarcgroup.com/auto-dimming-mirror-market
Algae Products Market Report: https://www.imarcgroup.com/algae-products-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Group 30 N Gould St, Ste R Sheridan, WY (Wyoming) 82801 USA Website: https://www.imarcgroup.com Email: [email protected] Tel No:(D) +91 120 433 0800 Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800