Key highlights of the report include:
Market Overview (2018-2028)
• Historical market size (2022): 8.1 billion USD
• Forecast CAGR (2023-2028): 15.30%
Growing awareness of the benefits of reliable pet insurance, growing enthusiasm for pet ownership, increasing availability of different breeds of pets, and increasing living standards are some of the driving factors of the pet insurance market. Growing efforts to strengthen animal welfare infrastructures in developing economies are increasing awareness of pet insurance schemes.
The growing prevalence of chronic diseases in pets is a driving factor in the pet insurance market. Diseases such as parvovirus, distemper, canine flu, and leptospirosis, among others, are common illnesses in dogs. Additionally, cats are susceptible to traffic accidents, which is a major concern among owners.
Get Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/pet-insurance-market/requestsample
Rising pet health care costs and escalating hospitalization costs are driving the adoption of pet insurance plans. Additionally, the growing expansion of veterinary hospitals, clinics, and diagnostic centers is further accelerating the growth of the pet insurance market. Among millennials Rising instances of stress, anxiety, and depression heighten sentiment towards pets, leading to a greater emphasis on companionship. In this regard, the expenses of pet owners for their adopted animals are expected to increase significantly in the coming years.
Pet Insurance Industry Definition and Major Segments
Pet insurance refers to specific insurance policies that pet owners can purchase for their pets to help offset the costs of expensive veterinary bills. Pet insurance coverage provides full or partial medical coverage, reducing sudden financial burdens for pet owners. The nature of pet insurance depends on the species, region, provider and type of coverage.
Based on policy coverage, the market can be segmented into:
• Accident only
• Accident and illness
• Others
On the basis of animal type, the market is split into:
• Dogs
• Cats
• Others
By sales channel, the market has been segmented into:
• Agency
• Broker
• Bancassurance
• Others
On the basis of region, the market can be categorized into:
•
•
•
•
•
Pet Insurance Market Trends
Major trends in the global pet insurance market include technical upgrades and advancements in veterinary medicine, drugs and treatments that increase the cost of care resulting in increased spending on wellness and animal health. Growing efforts of the youthful population towards animal rescue and adoption, supported by favorable regulations from various governments, are giving an additional boost to the market. With this in mind, the growing development of veterinary facilities in rural and semi-urban areas is further expanding market opportunities.
Read the full report with table of contents – https://www.expertmarketresearch.com/reports/pet-insurance-market
Ease of access to information on online web portals regarding pet insurance, providing data on new program launches, pet protection companies and banks, further enhances market dynamics pet insurance. During the forecast period, the predicted increase in dog population is expected to help the market.
In geographical terms,
Main market players
Leading companies reviewed in the Pet Insurance Market Report are:
•
•
•
•
•
•
• Others
The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Related reports:
Digital Patient Monitoring Devices Market: https://www.marketwatch.com/press-release/global-digital-patient-monitoring-devices-market-to-be-drive-by-increasing-consumer-awareness-regarding-fitness-and-a-healthy- lifestyle-in-forecast-period-2021-2026-2022-12-30?mod=search_headline
OOH Digital Marketplace: https://www.marketwatch.com/press-release/global-digital-ooh-market-to-be-drive-by-cost-effectiveness-and-increased-production-of-multiple-tools-in-the- forecast-period-from-30-12-2021-2021-2026-2022?mod=search_headline
Tissue paper market: https://www.marketwatch.com/press-release/global-tissue-paper-market-size-to-grow-at-a-cagr-of-620-in-the-forecast-period-of-2023- 2028-2022-12-20?mod=search_headline
Welding Wire Market: https://www.marketwatch.com/press-release/global-welding-wires-market-size-to-grow-at-a-cagr-of-47-in-the-forecast-period-of-2023- 2028-2022-12-20?mod=search_headline
Pressure switch market: https://www.marketwatch.com/press-release/global-pressure-switch-market-size-to-grow-at-a-cagr-of-420-in-the-forecast-period-of-2023- 2028-2022-12-20?mod=search_headline
Smart Luggage Market: https://www.marketwatch.com/press-release/global-smart-luggage-market-size-to-grow-at-a-cagr-of-212-in-the-forecast-period-of-2023- 2028-2022-12-20?mod=search_headline
About Us:
EMR customizes syndicated reports based on client requirements and expectations. The company is active in more than 15 leading industry fields, including food and beverage, chemicals and materials, technology and media, consumer goods, packaging, agriculture and chemical products. pharmaceuticals, among others.
Over 3,000 EMR consultants and over 100 analysts work very hard to ensure that clients get only the most up-to-date, relevant, accurate and actionable information in the industry so they can formulate informed business strategies , efficient and intelligent and secure their market leadership.
+1 415-325-5166
write to us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other
