Pet Insurance Market
Pet Insurance Market Analysis By Coverage Type (Accident, Accident & Illness), By Animal Type (Cats, Dogs), By Sales Channel Type (Bancassurance, Direct, Broker, Agency) and By Region - Global Market Insights 2022-2032
Analysis of Pet Insurance market covering 30+ countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Pet Insurance Industry Outlook (2022-2032)
The global market for pet insurance was valued at US$ 8.5 Billion in 2021, and is expected to increase at a steady CAGR rate of 16.5% during the forecast period. As per this growth rate, this industry can be projected to reach a market size of worth US$ 45.6 Billion by 2032.
At the end of 2022, this market is expected to reach a market valuation of US$ 9.9 Billion by 2022.
Pet population growth, pet insurance adoption in underpenetrated markets, increasing veterinary care costs, initiatives by key companies, and humanization of pets are some of the key factors driving this market.
Report Attributes |
Details |
|
Market Value for 2021 |
US$ 8.5 Billion |
|
Market Size in 2022 |
US$ 9.90 Billion |
|
Projected Market Valued in 2032 |
US$ 45.60 Bn |
|
Growth Rate (2022-2032) |
16.5% CAGR |
|
Market Share of Europe during 2022 |
43% |
|
Revenue Share of accident and illness segment |
85% |
|
Key Companies Profiled |
|
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Demand Analysis of Pet Insurance 2015-2021 vs. Market Outlook 2022-2032
As per Fact.MR- a market research and competitive intelligence provider- demand for pet insurance inclined at a 15% CAGR between 2015 and 2021. Growth of the industry is majorly attributed to increased pet ownership- both across the developed and developing regions. This is majorly in response to the increased humanization of animals and extensive focus on animal welfare.
As a result of the COVID-19 pandemic, pet owners, veterinarians, veterinary hospitals, and animal health companies faced several challenges, as the imposition of lockdowns prevented frequent visits to brick and mortar insurance providers. Nevertheless, the industry was quick to respond to the pandemic by deploying supportive measures to ensure access to veterinary care and other services. The pandemic also caused pet parents to realize the importance of getting a pet insurance policy to reduce financial risk.
A survey conducted by Petplan, a U.K. market leader, found that pet ownership increased during 2020. The most popular pet was the dog, followed by the cat. About 47% of respondents purchased a pet for the first time, and overall only about 26% of pet owners in the U.K. bought pets during the COVID-19 pandemic. Getting a pet was primarily motivated by work-from-home conditions, the desire for companionship, and more time spent at home because of lockdown and movement restrictions. From 2022 to 2032, pet insurance demand is forecast to surge nearly 5x.
What are the specific drivers of the Pet Insurance Market?
Rising awareness towards feline and dog-related diseases will bolster the growth
Increasing prevalence of feline and canine diseases is a major driver of this market. Pet insurance is expected to grow in the near future due to the escalating demand to limit out-of-pocket expenditures on serious medical issues, such as accidental injuries and cancer. Additionally, pet insurance demand is expected to increase as there is a growing demand for veterinary services.
In addition to capital investment, veterinary services frequently require specialized veterinarians, technicians, and specialized diagnostic equipment. As a result, pet owners may have to pay a higher amount for treatment, which could make them more interested in pet insurance.
Approximately 3.45 million pets were insured across North America in 2020, according to the North American Pet Health Insurance Association (NAPHIA). In 2019, 2.81 million pets were insured in North America, a significant increase.
Rising Pet Ownership and Increasing Disposable Income to accelerate the Market Growth
Several factors are driving the adoption of pet health insurance around the world, including an improving economy, increased consumer awareness, and easier claims processing. Pet health insurance is expected to reimburse diagnostic testing and imaging (e.g. X-rays, ultrasounds, and MRIs), and it covers every illness and accident.
The report ''Pets in Australia: A national survey of pets and people'' in 2019 reveals that expenditure on pets has risen substantially due to the increasing adoption of pets. According to the report, pet owners spend more than AUD 13 billion annually to keep their pets fed, healthy, and well-equipped, and food and veterinary services account for half of all ongoing expenses.
Nearly 2.6 billion of this amount was spent on veterinary services in the country. Another important factor affecting animal health expenditure is the rise in disposable income. In addition to the per capita animal health expenditure, industries across the globe also spend more on diagnosing and treating veterinary diseases.
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Country-wise-Analysis
How will the market emerge in the European region during the forecast period?
By the end of 2022, Europe will hold the largest revenue share of over 44% in the pet insurance market. Pet insurance adoption has increased due to rising pet ownership and the presence of key companies. The Department of Clinical Veterinary Science and the Pet Food Institute estimate that 23.0% of pets in the U.K. and 30.0% of pets in Sweden were covered by pet insurance policies by 2017 and that penetration was expected to rise in the future.
Several key market players are headquartered in the U.K., such as Petplanare, while DFV has its headquarters in Germany. As a result, these companies implement various strategies to increase their market share, thus contributing to the growth of the region.
What will be the market scope in the North American region?
A high pet ownership rate, awareness, increasing pet insurance, and technological advancements in the diagnostics field are the major driving factors in the United States. In terms of socio-economic conditions, the country is well-positioned to provide economic support to the market in terms of production and end-users. North America is forecast to accumulate 40% revenue.
According to the American Pet Products Association (APPA), 67% of US households, or 85 million families, own a pet. According to the data published by the APPA in 2018, the total pet healthcare expenditure would reach USD 75.38 Bn by 2020, whereas the expenditure in 2019 will be USD 69.51 Bn.
How will the market in the APAC region emerge during the forecast period?
During the forecast period, 2022-2032, the Asia Pacific region is projected to grow at the fastest rate of over 18%. The growth in pet adoption is a result of the emergence of the pet market and the development of the economy in the region. The market in the region is also driven by increased awareness of veterinary health and improved veterinary healthcare infrastructure.
Category-wise Insights
What can be expected from the accident and illness segment during the forecast period?
In 2022, the accident and illness segment is projected to hold the largest revenue share of 85%. Furthermore, it is expected to experience the fastest CAGR in the next few years. In addition to high veterinary treatment and diagnostic costs, an increase in companion animal ownership, and greater awareness of pet insurance, are contributing factors to this growth.
Policies covering accident and illness are typically offered by pet insurance companies. These provide coverage for a wide range of conditions including acute and chronic diseases, medications, diagnostic tests, and more. Pet owners are expected to benefit most from accident and illness insurance policies since they provide comprehensive coverage.
Why will Pet Insurance for Dogs Experience Maximum Demand?
The dogs segment is likely to dominate the market in 2022, accounting for more than 50% revenue. A growing pet adoption rate, expanded insurance service offerings, and rising disposable incomes in key markets are factors contributing to this increase.
According to FEDIAF, there were around 88.0 million households with pets in the EU by 2020. About 89 million dogs are estimated to have been in those households. In the future, the growing pet population across the region and the availability of a range of pet insurance policies will fuel market growth.
What will be the Outlook of the Direct Sales Segment?
The direct sales segment dominated the market in 2021 and is projected to hold the highest revenue share of 34% in 2022. This can be attributed to the high rate of direct sales strategies employed by key pet insurance. As an example, Deutsche Familienversicherung AG reported that direct sales accounted for 87.3% of the company's new business during HY2020.
Furthermore, the company reported an increase in online sales of 21.4% compared to last year. Another key market player reported that direct sales accounted for about 61% of its Personal Lines insuranceAutomobile, household, and pet insurance are all part of Peplan's personal lines segment.and pet insurance.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
There is a high level of fragmentation and competitiveness in the pet insurance market. To capture a larger share of the market, players implement various strategic initiatives, such as launching new policies, forming partnerships and collaborations, and expanding regionally.
- Vetter Software, which provides technology solutions for the animal healthcare industry, signed a partnership agreement with Trupanion in June 2020. As part of this partnership, Vetter Software's cloud veterinary practice management platform software integrated with Trupanion's software, enabling direct payments to veterinarians at the time of checkout.
- Through its specialty insurance business segment, AXIS Insurance, AXIS Capital Holdings Limited entered the market by partnering with Managing General Underwriter Petplan in November 2021. Its Accident and Health unit partnered with Petplan in support of its growth objectives.
Key Segments Covered in the Pet Insurance Industry Survey
-
By Coverage Type
- Accident Only
- Accident & Illness
- Other Coverage Types
-
By Animal Type
- Cats
- Dogs
- Other Animal Types
-
By Sales Channel Type
- Bancassurance
- Direct
- Broker
- Agency
- Other Sales Channels
-
By Region
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
1. Executive Summary 1.1. Global Market Outlook 1.2. Summary of Statistics 1.3. Key Market Characteristics & Attributes 1.4. Fact.MR Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Risks and Trends Assessment 3.1. Risk Assessment 3.1.1. COVID-19 Crisis and Impact on Pet Insurance 3.1.2. COVID-19 Impact Benchmark with Previous Crisis 3.1.3. Impact on Market Value (US$ Mn) 3.1.4. Assessment by Key Countries 3.1.5. Assessment by Key Market Segments 3.1.6. Action Points and Recommendation for Suppliers 3.2. Key Trends Impacting the Market 3.3. Formulation and Product Development Trends 4. Market Background 4.1. Pet Insurance Market, by Key Countries 4.2. Pet Insurance Market Opportunity Assessment (US$ Mn) 4.2.1. Total Available Market 4.2.2. Serviceable Addressable Market 4.2.3. Serviceable Obtainable Market 4.3. Market Scenario Forecast 4.3.1. Demand in optimistic Scenario 4.3.2. Demand in Likely Scenario 4.3.3. Demand in Conservative Scenario 4.4. Investment Feasibility Analysis 4.4.1. Investment in Established Markets 4.4.1.1. In Short Term 4.4.1.2. In Long Term 4.4.2. Investment in Emerging Markets 4.4.2.1. In Short Term 4.4.2.2. In Long Term 4.5. Forecast Factors - Relevance & Impact 4.5.1. Top Companies Historical Growth 4.5.2. Growth in Automation, By Country 4.5.3. Pet Insurance Adoption Rate, By Country 4.6. Market Dynamics 4.6.1. Market Driving Factors and Impact Assessment 4.6.2. Prominent Market Challenges and Impact Assessment 4.6.3. Pet Insurance Market Opportunities 4.6.4. Prominent Trends in the Global Market & Their Impact Assessment 5. Key Success Factors 5.1. Manufacturers’ Focus on Low Penetration High Growth Markets 5.2. Banking on with Segments High Incremental Opportunity 5.3. Peer Benchmarking 6. Global Pet Insurance Market Demand Analysis 2015-2021 and Forecast, 2022-2032 6.1. Historical Market Analysis, 2015-2021 6.2. Current and Future Market Projections, 2022-2032 6.3. Y-o-Y Growth Trend Analysis 7. Global Pet Insurance Market Value Analysis 2015-2021 and Forecast, 2022-2032 7.1. Historical Market Value (US$ Mn) Analysis, 2015-2021 7.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Global Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032, By Coverage Type 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Coverage Type, 2015-2021 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Coverage Type, 2022-2032 8.3.1. Accident & Illness 8.3.2. Accident only 8.3.3. Others 8.4. Market Attractiveness Analysis By Coverage Type 9. Global Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032, By Animal Type 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) Analysis By Animal Type, 2015-2021 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Animal Type, 2022-2032 9.3.1. Dogs 9.3.2. Cats 9.3.3. Others 9.4. Market Attractiveness Analysis By Animal Type 10. Global Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032, By Sales Channel 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) Analysis By Sales Channel, 2015-2021 10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Sales Channel, 2022-2032 10.3.1. Agency 10.3.2. Broker 10.3.3. Direct 10.3.4. Bancassurance 10.3.5. Others 10.4. Market Attractiveness Analysis By Sales Channel 11. Global Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032, By Region 11.1. Introduction 11.2. Historical Market Size (US$ Mn) Analysis By Region, 2015-2021 11.3. Current Market Size (US$ Mn) & Analysis and Forecast By Region, 2022-2032 11.3.1. North America 11.3.2. Latin America 11.3.3. Europe 11.3.4. Asia Pacific 11.3.5. Middle East and Africa (MEA) 11.4. Market Attractiveness Analysis By Region 12. North America Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 12.4. Market Size (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 12.4.1. By Country 12.4.1.1. U.S. 12.4.1.2. Canada 12.4.1.3. Rest of North America 12.4.2. By Coverage Type 12.4.3. By Sales Channel 12.4.4. By Animal Type 12.5. Market Attractiveness Analysis 12.5.1. By Country 12.5.2. By Coverage Type 12.5.3. By Sales Channel 12.5.4. By Animal Type 13. Latin America Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 13.4. Market Size (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 13.4.1. By Country 13.4.1.1. Brazil 13.4.1.2. Mexico 13.4.1.3. Rest of Latin America 13.4.2. By Coverage Type 13.4.3. By Sales Channel 13.4.4. By Animal Type 13.5. Market Attractiveness Analysis 13.5.1. By Country 13.5.2. By Coverage Type 13.5.3. By Sales Channel 13.5.4. By Animal Type 14. Europe Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 14.4. Market Size (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 14.4.1. By Country 14.4.1.1. Germany 14.4.1.2. France 14.4.1.3. U.K. 14.4.1.4. Italy 14.4.1.5. Benelux 14.4.1.6. Nordic Countries 14.4.1.7. Rest of Europe 14.4.2. By Coverage Type 14.4.3. By Sales Channel 14.4.4. By Animal Type 14.5. Market Attractiveness Analysis 14.5.1. By Country 14.5.2. By Coverage Type 14.5.3. By Sales Channel 14.5.4. By Animal Type 15. Asia Pacific Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 15.4. Market Size (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 15.4.1. By Country 15.4.1.1. China 15.4.1.2. Japan 15.4.1.3. South Korea 15.4.1.4. Rest of Asia Pacific 15.4.2. By Coverage Type 15.4.3. By Sales Channel 15.4.4. By Animal Type 15.5. Market Attractiveness Analysis 15.5.1. By Country 15.5.2. By Coverage Type 15.5.3. By Sales Channel 15.5.4. By Animal Type 16. Middle East and Africa Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2015-2021 16.4. Market Size (US$ Mn) & Forecast By Market Taxonomy, 2022-2032 16.4.1. By Country 16.4.1.1. GCC Countries 16.4.1.2. South Africa 16.4.1.3. Turkey 16.4.1.4. Rest of Middle East and Africa 16.4.2. By Coverage Type 16.4.3. By Sales Channel 16.4.4. By Animal Type 16.5. Market Attractiveness Analysis 16.5.1. By Country 16.5.2. By Coverage Type 16.5.3. By Sales Channel 16.5.4. By Animal Type 17. Key Countries Pet Insurance Market Analysis 2015-2021 and Forecast 2022-2032 17.1. Introduction 17.1.1. Market Value Proportion Analysis, By Key Countries 17.1.2. Global Vs. Country Growth Comparison 17.2. US Pet Insurance Market Analysis 17.2.1. Value Proportion Analysis by Market Taxonomy 17.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.2.2.1. By Coverage Type 17.2.2.2. By Sales Channel 17.2.2.3. By Animal Type 17.3. Canada Pet Insurance Market Analysis 17.3.1. Value Proportion Analysis by Market Taxonomy 17.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.3.2.1. By Coverage Type 17.3.2.2. By Sales Channel 17.3.2.3. By Animal Type 17.4. Mexico Pet Insurance Market Analysis 17.4.1. Value Proportion Analysis by Market Taxonomy 17.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.4.2.1. By Coverage Type 17.4.2.2. By Sales Channel 17.4.2.3. By Animal Type 17.5. Brazil Pet Insurance Market Analysis 17.5.1. Value Proportion Analysis by Market Taxonomy 17.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.5.2.1. By Coverage Type 17.5.2.2. By Sales Channel 17.5.2.3. By Animal Type 17.6. Germany Pet Insurance Market Analysis 17.6.1. Value Proportion Analysis by Market Taxonomy 17.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.6.2.1. By Coverage Type 17.6.2.2. By Sales Channel 17.6.2.3. By Animal Type 17.7. France Pet Insurance Market Analysis 17.7.1. Value Proportion Analysis by Market Taxonomy 17.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.7.2.1. By Coverage Type 17.7.2.2. By Sales Channel 17.7.2.3. By Animal Type 17.8. Italy Pet Insurance Market Analysis 17.8.1. Value Proportion Analysis by Market Taxonomy 17.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.8.2.1. By Coverage Type 17.8.2.2. By Sales Channel 17.8.2.3. By Animal Type 17.9. BENELUX Pet Insurance Market Analysis 17.9.1. Value Proportion Analysis by Market Taxonomy 17.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.9.2.1. By Coverage Type 17.9.2.2. By Sales Channel 17.9.2.3. By Animal Type 17.10. UK Pet Insurance Market Analysis 17.10.1. Value Proportion Analysis by Market Taxonomy 17.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.10.2.1. By Coverage Type 17.10.2.2. By Sales Channel 17.10.2.3. By Animal Type 17.11. Nordic Countries Pet Insurance Market Analysis 17.11.1. Value Proportion Analysis by Market Taxonomy 17.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.11.2.1. By Coverage Type 17.11.2.2. By Sales Channel 17.11.2.3. By Animal Type 17.12. China Pet Insurance Market Analysis 17.12.1. Value Proportion Analysis by Market Taxonomy 17.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.12.2.1. By Coverage Type 17.12.2.2. By Sales Channel 17.12.2.3. By Animal Type 17.13. Japan Pet Insurance Market Analysis 17.13.1. Value Proportion Analysis by Market Taxonomy 17.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.13.2.1. By Coverage Type 17.13.2.2. By Sales Channel 17.13.2.3. By Animal Type 17.14. South Korea Pet Insurance Market Analysis 17.14.1. Value Proportion Analysis by Market Taxonomy 17.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.14.2.1. By Coverage Type 17.14.2.2. By Sales Channel 17.14.2.3. By Animal Type 17.15. GCC Countries Pet Insurance Market Analysis 17.15.1. Value Proportion Analysis by Market Taxonomy 17.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.15.2.1. By Coverage Type 17.15.2.2. By Sales Channel 17.15.2.3. By Animal Type 17.16. South Africa Pet Insurance Market Analysis 17.16.1. Value Proportion Analysis by Market Taxonomy 17.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.16.2.1. By Coverage Type 17.16.2.2. By Sales Channel 17.16.2.3. By Animal Type 17.17. Turkey Pet Insurance Market Analysis 17.17.1. Value Proportion Analysis by Market Taxonomy 17.17.2. Value & Analysis and Forecast by Market Taxonomy, 2015-2032 17.17.2.1. By Coverage Type 17.17.2.2. By Sales Channel 17.17.2.3. By Animal Type 17.17.3. Competition Landscape and Player Concentration in the Country 18. Market Structure Analysis 18.1. Market Analysis by Tier of Companies 18.2. Market Concentration 18.3. Market Share Analysis of Top Players 18.4. Market Presence Analysis 18.4.1. By Regional footprint of Players 18.4.2. Product footprint by Players 19. Competition Analysis 19.1. Competition Dashboard 19.2. Competition Benchmarking 19.3. Competition Deep Dive 19.3.1. Trupanion, Inc. 19.3.1.1. Overview 19.3.1.2. Product Portfolio 19.3.1.3. Sales Footprint 19.3.1.4. Strategy Overview 19.3.2. Deutsche Familienversicherung AG (DFV) 19.3.2.1. Overview 19.3.2.2. Product Portfolio 19.3.2.3. Sales Footprint 19.3.2.4. Strategy Overview 19.3.3. Petplan (Allianz) 19.3.3.1. Overview 19.3.3.2. Product Portfolio 19.3.3.3. Sales Footprint 19.3.3.4. Strategy Overview 19.3.4. Animal Friends Insurance Services Limited 19.3.4.1. Overview 19.3.4.2. Product Portfolio 19.3.4.3. Sales Footprint 19.3.4.4. Strategy Overview 19.3.5. Figo Pet Insurance, LLC 19.3.5.1. Overview 19.3.5.2. Product Portfolio 19.3.5.3. Sales Footprint 19.3.5.4. Strategy Overview 19.3.6. Direct Line 19.3.6.1. Overview 19.3.6.2. Product Portfolio 19.3.6.3. Sales Footprint 19.3.6.4. Strategy Overview 19.3.7. PetWatch 19.3.7.1. Overview 19.3.7.2. Product Portfolio 19.3.7.3. Sales Footprint 19.3.7.4. Strategy Overview 19.3.8. Embrace Pet Insurance Agency, LLC 19.3.8.1. Overview 19.3.8.2. Product Portfolio 19.3.8.3. Sales Footprint 19.3.8.4. Strategy Overview 19.3.9. Anicom Insurance 19.3.9.1. Overview 19.3.9.2. Product Portfolio 19.3.9.3. Sales Footprint 19.3.9.4. Strategy Overview 19.3.10. Agria Pet Insurance 19.3.10.1. Overview 19.3.10.2. Product Portfolio 19.3.10.3. Sales Footprint 19.3.10.4. Strategy Overview 20. Assumptions and Acronyms Used 21. Research Methodology
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List Of Table
Table 1: Global Pet Insurance Market Value (US$ Mn), By Coverage Type, 2015 – 2021
Table 2: Global Pet Insurance Market Value (US$ Mn), By Coverage Type, 2022 – 2032
Table 3: Global Pet Insurance Market Value (US$ Mn), By Sales Channel, 2015 – 2021
Table 4: Global Pet Insurance Market Value (US$ Mn), By Sales Channel, 2022 – 2032
Table 5: Global Pet Insurance Market Value (US$ Mn), By Animal Type, 2015 – 2021
Table 6: Global Pet Insurance Market Value (US$ Mn), By Animal Type, 2022 – 2032
Table 7: Global Pet Insurance Market, By Region, 2015 – 2021
Table 8: Global Pet Insurance Market, By Region, 2022 – 2032
Table 9: North America Pet Insurance Market Value (US$ Mn), By Coverage Type, 2015 – 2021
Table 10: North America Pet Insurance Market Value (US$ Mn), By Coverage Type, 2022 – 2032
Table 11: North America Pet Insurance Market Value (US$ Mn), By Sales Channel, 2015 – 2021
Table 12: North America Pet Insurance Market Value (US$ Mn), By Sales Channel, 2022 – 2032
Table 13: North America Pet Insurance Market Value (US$ Mn), By Animal Type, 2015 – 2021
Table 14: North America Pet Insurance Market Value (US$ Mn), By Animal Type, 2022 – 2032
Table 15: North America Pet Insurance Market, By Country, 2015 – 2021
Table 16: North America Pet Insurance Market, By Country, 2022 – 2032
Table 17: Latin America Pet Insurance Market Value (US$ Mn), By Coverage Type, 2015 – 2021
Table 18: Latin America Pet Insurance Market Value (US$ Mn), By Coverage Type, 2022 – 2032
Table 19: Latin America Pet Insurance Market Value (US$ Mn), By Sales Channel, 2015 – 2021
Table 20: Latin America Pet Insurance Market Value (US$ Mn), By Sales Channel, 2022 – 2032
Table 21: Latin America Pet Insurance Market Value (US$ Mn), By Animal Type, 2015 – 2021
Table 22: Latin America Pet Insurance Market Value (US$ Mn), By Animal Type, 2022 – 2032
Table 23: Latin America Pet Insurance Market, By Country, 2015 – 2021
Table 24: Latin America Pet Insurance Market, By Country, 2022 – 2032
Table 25: Europe Pet Insurance Market Value (US$ Mn), By Coverage Type, 2015 – 2021
Table 26: Europe Pet Insurance Market Value (US$ Mn), By Coverage Type, 2022 – 2032
Table 27: Europe Pet Insurance Market Value (US$ Mn), By Sales Channel, 2015 – 2021
Table 28: Europe Pet Insurance Market Value (US$ Mn), By Sales Channel, 2022 – 2032
Table 29: Europe Pet Insurance Market Value (US$ Mn), By Animal Type, 2015 – 2021
Table 30: Europe Pet Insurance Market Value (US$ Mn), By Animal Type, 2022 – 2032
Table 31: Europe Pet Insurance Market, By Country, 2015 – 2021
Table 32: Europe Pet Insurance Market, By Country, 2022 – 2032
Table 33: Asia Pacific Pet Insurance Market Value (US$ Mn), By Coverage Type, 2015 – 2021
Table 34: Asia Pacific Pet Insurance Market Value (US$ Mn), By Coverage Type, 2022 – 2032
Table 35: Asia Pacific Pet Insurance Market Value (US$ Mn), By Sales Channel, 2015 – 2021
Table 36: Asia Pacific Pet Insurance Market Value (US$ Mn), By Sales Channel, 2022 – 2032
Table 37: Asia Pacific Pet Insurance Market Value (US$ Mn), By Animal Type, 2015 – 2021
Table 38: Asia Pacific Pet Insurance Market Value (US$ Mn), By Animal Type, 2022 – 2032
Table 39: Asia Pacific Pet Insurance Market, By Country, 2015 – 2021
Table 40: Asia Pacific Pet Insurance Market, By Country, 2022 – 2032
Table 41: MEA Pet Insurance Market Value (US$ Mn), By Coverage Type, 2015 – 2021
Table 42: MEA Pet Insurance Market Value (US$ Mn), By Coverage Type, 2022 – 2032
Table 43: MEA Pet Insurance Market Value (US$ Mn), By Sales Channel, 2015 – 2021
Table 44: MEA Pet Insurance Market Value (US$ Mn), By Sales Channel, 2022 – 2032
Table 45: MEA Pet Insurance Market Value (US$ Mn), By Animal Type, 2015 – 2021
Table 46: MEA Pet Insurance Market Value (US$ Mn), By Animal Type, 2022 – 2032
Table 47: MEA Pet Insurance Market, By Country, 2015 – 2021
Table 48: MEA Pet Insurance Market, By Country, 2022 – 2032
Table 49: Global Pet Insurance Market Incremental $ Opportunity, By Coverage Type, 2015 - 2021
Table 50: Global Pet Insurance Market Incremental $ Opportunity, By Sales Channel, 2022 – 2032
Table 51: Global Pet Insurance Market Incremental $ Opportunity, By Animal Type, 2015 - 2021
Table 52: Global Pet Insurance Market Incremental $ Opportunity, By Region, 2022 – 2032
Table 53: North America Pet Insurance Market Incremental $ Opportunity, By Coverage Type, 2015 - 2021
Table 54: North America Pet Insurance Market Incremental $ Opportunity, By Sales Channel, 2022 – 2032
Table 55: North America Pet Insurance Market Incremental $ Opportunity, By Animal Type, 2015 – 2021
Table 56: North America Pet Insurance Market Incremental $ Opportunity, By Country, 2022 – 2032
Table 57: Latin America Pet Insurance Market Incremental $ Opportunity, By Coverage Type, 2015 - 2021
Table 58: Latin America Pet Insurance Market Incremental $ Opportunity, By Sales Channel, 2022 – 2032
Table 59: Latin America Pet Insurance Market Incremental $ Opportunity, By Animal Type, 2015 - 2021
Table 60: Latin America Pet Insurance Market Incremental $ Opportunity, By Country, 2022 – 2032
Table 61: Europe Pet Insurance Market Incremental $ Opportunity, By Coverage Type, 2015 - 2021
Table 62: Europe Pet Insurance Market Incremental $ Opportunity, By Sales Channel, 2022 – 2032
Table 63: Europe Pet Insurance Market Incremental $ Opportunity, By Animal Type, 2015 - 2021
Table 64: Europe Pet Insurance Market Incremental $ Opportunity, By Country, 2022 - 2032
Table 65: Asia Pacific Pet Insurance Market Incremental $ Opportunity, By Coverage Type, 2015 - 2021
Table 66: Asia Pacific Pet Insurance Market Incremental $ Opportunity, By Sales Channel, 2022 – 2032
Table 67: Asia Pacific Pet Insurance Market Incremental $ Opportunity, By Animal Type, 2015 - 2021
Table 68: Asia Pacific Pet Insurance Market Incremental $ Opportunity, By Country, 2022 – 2032
Table 69: MEA Pet Insurance Market Incremental $ Opportunity, By Coverage Type, 2015 - 2021
Table 70: MEA Pet Insurance Market Incremental $ Opportunity, By Sales Channel, 2022 – 2032
Table 71: MEA Pet Insurance Market Incremental $ Opportunity, By Animal Type, 2015 - 2021
Table 72: MEA Pet Insurance Market Incremental $ Opportunity, By Country, 2022 - 2032
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List Of Figures
Figure 1: Global Pet Insurance Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032
Figure 2: Global Pet Insurance Market Absolute $ Historical Gain (2015 - 2021) and Opportunity (2022 – 2032), US$ Mn
Figure 3: Global Pet Insurance Market Share, By Coverage Type, 2022 & 2032
Figure 4: Global Pet Insurance Market Y-o-Y Growth Projections, By Coverage Type – 2022-2032
Figure 5: Global Pet Insurance Market Attractiveness Index, By Coverage Type – 2022-2032
Figure 6: Global Pet Insurance Market Share, By Sales Channel, 2022 & 2032
Figure 7: Global Pet Insurance Market Y-o-Y Growth Projections, By Sales Channel – 2022-2032
Figure 8: Global Pet Insurance Market Attractiveness Index, By Sales Channel – 2022-2032
Figure 9: Global Pet Insurance Market Share, By Animal Type, 2022 & 2032
Figure 10: Global Pet Insurance Market Y-o-Y Growth Projections, By Animal Type – 2022-2032
Figure 11: Global Pet Insurance Market Attractiveness Index, By Animal Type – 2022-2032
Figure 12: Global Pet Insurance Market Share, By Region, 2022 & 2032
Figure 13: Global Pet Insurance Market Y-o-Y Growth Projections, By Region – 2022-2032
Figure 14: Global Pet Insurance Market Attractiveness Index, By Region – 2022-2032
Figure 15: North America Pet Insurance Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032
Figure 16: North America Pet Insurance Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn
Figure 17: North America Pet Insurance Market Share, By Coverage Type, 2022 & 2032
Figure 18: North America Pet Insurance Market Y-o-Y Growth Projections, By Coverage Type – 2022-2032
Figure 19: North America Pet Insurance Market Attractiveness Index, By Coverage Type – 2022-2032
Figure 20: North America Pet Insurance Market Share, By Sales Channel, 2022 & 2032
Figure 21: North America Pet Insurance Market Y-o-Y Growth Projections, By Sales Channel – 2022-2032
Figure 22: North America Pet Insurance Market Attractiveness Index, By Sales Channel – 2022-2032
Figure 23: North America Pet Insurance Market Share, By Animal Type, 2022 & 2032
Figure 24: North America Pet Insurance Market Y-o-Y Growth Projections, By Animal Type – 2022-2032
Figure 25: North America Pet Insurance Market Attractiveness Index, By Animal Type – 2022-2032
Figure 26: North America Pet Insurance Market Share, By Country, 2022 & 2032
Figure 27: North America Pet Insurance Market Y-o-Y Growth Projections, By Country – 2022-2032
Figure 28: North America Pet Insurance Market Attractiveness Index, By Country – 2022-2032
Figure 29: Latin America Pet Insurance Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032
Figure 30: Latin America Pet Insurance Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn
Figure 31: Latin America Pet Insurance Market Share, By Coverage Type, 2022 & 2032
Figure 32: Latin America Pet Insurance Market Y-o-Y Growth Projections, By Coverage Type – 2022-2032
Figure 33: Latin America Pet Insurance Market Attractiveness Index, By Coverage Type – 2022-2032
Figure 34: Latin America Pet Insurance Market Share, By Sales Channel, 2022 & 2032
Figure 35: Latin America Pet Insurance Market Y-o-Y Growth Projections, By Sales Channel – 2022-2032
Figure 36: Latin America Pet Insurance Market Attractiveness Index, By Sales Channel – 2022-2032
Figure 37: Latin America Pet Insurance Market Share, By Animal Type, 2022 & 2032
Figure 38: Latin America Pet Insurance Market Y-o-Y Growth Projections, By Animal Type – 2022-2032
Figure 39: Latin America Pet Insurance Market Attractiveness Index, By Animal Type – 2022-2032
Figure 40: Latin America Pet Insurance Market Share, By Country, 2022 & 2032
Figure 41: Latin America Pet Insurance Market Y-o-Y Growth Projections, By Country – 2022-2032
Figure 42: Latin America Pet Insurance Market Attractiveness Index, By Country – 2022-2032
Figure 43: Europe Pet Insurance Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032
Figure 44: Europe Pet Insurance Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn
Figure 45: Europe Pet Insurance Market Share, By Coverage Type, 2022 & 2032
Figure 46: Europe Pet Insurance Market Y-o-Y Growth Projections, By Coverage Type – 2022-2032
Figure 47: Europe Pet Insurance Market Attractiveness Index, By Coverage Type – 2022-2032
Figure 48: Europe Pet Insurance Market Share, By Sales Channel, 2022 & 2032
Figure 49: Europe Pet Insurance Market Y-o-Y Growth Projections, By Sales Channel – 2022-2032
Figure 50: Europe Pet Insurance Market Attractiveness Index, By Sales Channel – 2022-2032
Figure 51: Europe Pet Insurance Market Share, By Animal Type, 2022 & 2032
Figure 52: Europe Pet Insurance Market Y-o-Y Growth Projections, By Animal Type – 2022-2032
Figure 53: Europe Pet Insurance Market Attractiveness Index, By Animal Type – 2022-2032
Figure 54: Europe Pet Insurance Market Share, By Country, 2022 & 2032
Figure 55: Europe Pet Insurance Market Y-o-Y Growth Projections, By Country – 2022-2032
Figure 56: Europe Pet Insurance Market Attractiveness Index, By Country – 2022-2032
Figure 57: MEA Pet Insurance Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032
Figure 58: MEA Pet Insurance Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn
Figure 59: MEA Pet Insurance Market Share, By Coverage Type, 2022 & 2032
Figure 60: MEA Pet Insurance Market Y-o-Y Growth Projections, By Coverage Type – 2022-2032
Figure 61: MEA Pet Insurance Market Attractiveness Index, By Coverage Type – 2022-2032
Figure 62: MEA Pet Insurance Market Share, By Sales Channel, 2022 & 2032
Figure 63: MEA Pet Insurance Market Y-o-Y Growth Projections, By Sales Channel – 2022-2032
Figure 64: MEA Pet Insurance Market Attractiveness Index, By Sales Channel – 2022-2032
Figure 65: MEA Pet Insurance Market Share, By Animal Type, 2022 & 2032
Figure 66: MEA Pet Insurance Market Y-o-Y Growth Projections, By Animal Type – 2022-2032
Figure 67: MEA Pet Insurance Market Attractiveness Index, By Animal Type – 2022-2032
Figure 68: MEA Pet Insurance Market Share, By Country, 2022 & 2032
Figure 69: MEA Pet Insurance Market Y-o-Y Growth Projections, By Country – 2022-2032
Figure 70: MEA Pet Insurance Market Attractiveness Index, By Country – 2022-2032
Figure 71: Asia Pacific Pet Insurance Market Value (US$ Mn) and Year-on-Year Growth, 2015-2032
Figure 72: Asia Pacific Pet Insurance Market Absolute $ Opportunity Historical (2015 - 2021) and Forecast Period (2022 – 2032), US$ Mn
Figure 73: Asia Pacific Pet Insurance Market Share, By Coverage Type, 2022 & 2032
Figure 74: Asia Pacific Pet Insurance Market Y-o-Y Growth Projections, By Coverage Type – 2022-2032
Figure 75: Asia Pacific Pet Insurance Market Attractiveness Index, By Coverage Type – 2022-2032
Figure 76: Asia Pacific Pet Insurance Market Share, By Sales Channel, 2022 & 2032
Figure 77: Asia Pacific Pet Insurance Market Y-o-Y Growth Projections, By Sales Channel – 2022-2032
Figure 78: Asia Pacific Pet Insurance Market Attractiveness Index, By Sales Channel – 2022-2032
Figure 79: Asia Pacific Pet Insurance Market Share, By Animal Type, 2022 & 2032
Figure 80: Asia Pacific Pet Insurance Market Y-o-Y Growth Projections, By Animal Type – 2022-2032
Figure 81: Asia Pacific Pet Insurance Market Attractiveness Index, By Animal Type – 2022-2032
Figure 82: Asia Pacific Pet Insurance Market Share, By Country, 2022 & 2032
Figure 83: Asia Pacific Pet Insurance Market Y-o-Y Growth Projections, By Country – 2022-2032
Figure 84: Asia Pacific Pet Insurance Market Attractiveness Index, By Country – 2022-2032
Figure 85: US Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 86: US Pet Insurance Market Share, By Coverage Type, 2021
Figure 87: US Pet Insurance Market Share, By Sales Channel, 2021
Figure 88: US Pet Insurance Market Share, By Animal Type, 2021
Figure 89: Canada Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 90: Canada Pet Insurance Market Share, By Coverage Type, 2021
Figure 91: Canada Pet Insurance Market Share, By Sales Channel, 2021
Figure 92: Canada Pet Insurance Market Share, By Animal Type, 2021
Figure 93: Brazil Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 94: Brazil Pet Insurance Market Share, By Coverage Type, 2021
Figure 95: Brazil Pet Insurance Market Share, By Sales Channel, 2021
Figure 96: Brazil Pet Insurance Market Share, By Animal Type, 2021
Figure 97: Mexico Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 98: Mexico Pet Insurance Market Share, By Coverage Type, 2021
Figure 99: Mexico Pet Insurance Market Share, By Sales Channel, 2021
Figure 100: Mexico Pet Insurance Market Share, By Animal Type, 2021
Figure 101: Germany Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 102: Germany Pet Insurance Market Share, By Coverage Type, 2021
Figure 103: Germany Pet Insurance Market Share, By Sales Channel, 2021
Figure 104: Germany Pet Insurance Market Share, By Animal Type, 2021
Figure 105: U.K. Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 106: U.K. Pet Insurance Market Share, By Coverage Type, 2021
Figure 107: U.K. Pet Insurance Market Share, By Sales Channel, 2021
Figure 108: U.K. Pet Insurance Market Share, By Animal Type, 2021
Figure 109: France Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 110: France Pet Insurance Market Share, By Coverage Type, 2021
Figure 111: France Pet Insurance Market Share, By Sales Channel, 2021
Figure 112: France Pet Insurance Market Share, By Animal Type, 2021
Figure 113: Italy Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 114: Italy Pet Insurance Market Share, By Coverage Type, 2021
Figure 115: Italy Pet Insurance Market Share, By Sales Channel, 2021
Figure 116: Italy Pet Insurance Market Share, By Animal Type, 2021
Figure 117: BENELUX Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 118: BENELUX Pet Insurance Market Share, By Coverage Type, 2021
Figure 119: BENELUX Pet Insurance Market Share, By Sales Channel, 2021
Figure 120: BENELUX Pet Insurance Market Share, By Animal Type, 2021
Figure 121: Nordic Countries Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 122: Nordic Countries Pet Insurance Market Share, By Coverage Type, 2021
Figure 123: Nordic Countries Pet Insurance Market Share, By Sales Channel, 2021
Figure 124: Nordic Countries Pet Insurance Market Share, By Animal Type, 2021
Figure 125: China Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 126: China Pet Insurance Market Share, By Coverage Type, 2021
Figure 127: China Pet Insurance Market Share, By Sales Channel, 2021
Figure 128: China Pet Insurance Market Share, By Animal Type, 2021
Figure 129: Japan Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 130: Japan Pet Insurance Market Share, By Coverage Type, 2021
Figure 131: Japan Pet Insurance Market Share, By Sales Channel, 2021
Figure 132: Japan Pet Insurance Market Share, By Animal Type, 2021
Figure 133: South Korea Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 134: South Korea Pet Insurance Market Share, By Coverage Type, 2021
Figure 135: South Korea Pet Insurance Market Share, By Sales Channel, 2021
Figure 136: South Korea Pet Insurance Market Share, By Animal Type, 2021
Figure 137: GCC Countries Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 138: GCC Countries Pet Insurance Market Share, By Coverage Type, 2021
Figure 139: GCC Countries Pet Insurance Market Share, By Sales Channel, 2021
Figure 140: GCC Countries Pet Insurance Market Share, By Animal Type, 2021
Figure 141: South Africa Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 142: South Africa Pet Insurance Market Share, By Coverage Type, 2021
Figure 143: South Africa Pet Insurance Market Share, By Sales Channel, 2021
Figure 144: South Africa Pet Insurance Market Share, By Animal Type, 2021
Figure 145: Turkey Pet Insurance Market Value (US$ Mn) and Forecast, 2022 - 2032
Figure 146: Turkey Pet Insurance Market Share, By Coverage Type, 2021
Figure 147: Turkey Pet Insurance Market Share, By Sales Channel, 2021
Figure 148: Turkey Pet Insurance Market Share, By Animal Type, 2021
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- FAQs -
What is the expected market valuation for pet insurance in 2022?
The pet insurance market is likely to acquire a global market value of US$ 9.9 Bn by 2022
What was the last 6 years CAGR for the pet insurance industry?
From 2015 to 2021, pet insurance demand expanded at a CAGR of 15%, as per Fact.MR
What is the estimated CAGR for the market for pet insurance from 2022 to 2032?
During the forecast period, the pet insurance market is expected to grow with a 16.5% CAGR
What is the expected market value for pet insurance in 2032?
Fact.MR anticipated pet insurance demand to be valued at US$ 45.6 Bn by 2032
Which animal type is expected to generate maximum demand for pet insurance?
Pet insurance for dogs is likely to account for 50% of the global market demand
Which region will be the most lucrative one during the forecast period?
The European market will be leading the market during the forecast period with a 44% global market share.
What would be the outlook of the APAC market?
The APAC region is projected to expand at a CAGR of more than 18% during the forecast period.
What will be the outlook of the direct sales segment?
The direct sales segment is also expected to gain almost 34% share of the global market
Pet Insurance Market