Global Pet Insurance Sales Market Report 2023

This report studies the Pet Insurance market, Pet insurance is a type of specialty property and casualty insurance policy that pet owners purchase to cover the unintended costs that arise in providing care for a pet, including veterinary services such as surgical procedures, injuries from accidents, and prescribed pet medicines. Pet insurance is purely a reimbursement program. A form of property and casualty insurance, pet insurance provides reimbursement to the owner after the pet has received required care and the owner submits a claim to the insurance company.

Market Analysis and Insights: Global Pet Insurance Market

Due to the COVID-19 pandemic, the global Pet Insurance market size is estimated to be worth US$ 5431.2 million in 2022 and is forecast to a readjusted size of US$ 13310 million by 2029 with a CAGR of 13.5% during the forecast period 2023-2029. Fully considering the economic change by this health crisis, Lifetime Cover accounting for % of the Pet Insurance global market in 2022, is projected to value US$ million by 2029, growing at a revised % CAGR from 2023 to 2029. While Dog segment is altered to an % CAGR throughout this forecast period.

The main market for pet insurance is Europe with about 55%, followed by North America with about 25%.

Major players

include Petplan UK (Allianz), Agria, Royal & Sun Alliance (RSA), Nationwide, Trupanion, etc. The top three players account for about 40% of the whole market.

Global Pet Insurance Scope and Market Size

The global Pet Insurance market is segmented by company, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Pet Insurance market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2018-2029.


Segment by Type


Lifetime Cover

Non-lifetime Cover

Accident-only

Other


Segment by Application


Dog

Cat

Other

By Region

United States

Europe

China

Japan

Southeast Asia

India

Other Regions


By Company


Petplan UK (Allianz)

Nationwide

Trupanion

Petplan NorthAmerica(Allianz)

Hartville Group

Pethealth

Petfirst

Embrace

Royal & Sun Alliance (RSA)

Direct Line Group

Agria

Petsecure

PetSure

Anicom Holding

ipet Insurance

Japan Animal Club