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 to 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 to 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 to 2032) | 16.5% CAGR |
| Market Share of Europe during 2022 | 43% |
| Revenue Share of accident and illness segment | 85% |
| Key Companies Profiled | Trupanion, Inc.; Deutsche Familienversicherung AG (DFV); Petplan (Allianz); Animal Friends Insurance Services Limited; Figo Pet Insurance, LLC; Direct Line; PetWatch; Embrace Pet Insurance Agency, LLC; Anicom Insurance; Agria Pet Insurance Co., Ltd. |
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Demand Analysis of Pet Insurance 2015 to 2021 vs. Market Outlook 2022 to 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 to 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
- 2. Market Overview
- 3. Market Risks and Trends Assessment
- 4. Market Background
- 5. Key Success Factors
- 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
- 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Coverage Type
- 8.1. Accident & Illness
- 8.2. Accident Only
- 8.3. Others
- 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Animal Type
- 9.1. Dogs
- 9.2. Cats
- 9.3. Others
- 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Sales Channel
- 10.1. Agency
- 10.2. Broker
- 10.3. Direct
- 10.4. Bancassurance
- 10.5. Others
- 11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. Asia Pacific
- 11.5. Middle East and Africa (MEA)
- 12. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 13. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 14. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 15. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 16. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 17. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
- 18. Market Structure Analysis
- 19. Competition Analysis
- 19.1. Trupanion, Inc.
- 19.2. Deutsche Familienversicherung AG (DFV)
- 19.3. Petplan (Allianz)
- 19.4. Animal Friends Insurance Services Limited
- 19.5. Figo Pet Insurance, LLC
- 19.6. Direct Line
- 19.7. PetWatch
- 19.8. Embrace Agency, LLC
- 19.9. Anicom Insurance
- 19.10. Agria Pet Insurance
- 20. Assumptions and Acronyms Used
- 21. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ Mn), By Coverage Type, 2015 to 2021
Table 2: Global Market Value (US$ Mn), By Coverage Type, 2022 to 2032
Table 3: Global Market Value (US$ Mn), By Sales Channel, 2015 to 2021
Table 4: Global Market Value (US$ Mn), By Sales Channel, 2022 to 2032
Table 5: Global Market Value (US$ Mn), By Animal Type, 2015 to 2021
Table 6: Global Market Value (US$ Mn), By Animal Type, 2022 to 2032
Table 7: Global Market, By Region, 2015 to 2021
Table 8: Global Market, By Region, 2022 to 2032
Table 9: North America Market Value (US$ Mn), By Coverage Type, 2015 to 2021
Table 10: North America Market Value (US$ Mn), By Coverage Type, 2022 to 2032
Table 11: North America Market Value (US$ Mn), By Sales Channel, 2015 to 2021
Table 12: North America Market Value (US$ Mn), By Sales Channel, 2022 to 2032
Table 13: North America Market Value (US$ Mn), By Animal Type, 2015 to 2021
Table 14: North America Market Value (US$ Mn), By Animal Type, 2022 to 2032
Table 15: North America Market, By Country, 2015 to 2021
Table 16: North America Market, By Country, 2022 to 2032
Table 17: Latin America Market Value (US$ Mn), By Coverage Type, 2015 to 2021
Table 18: Latin America Market Value (US$ Mn), By Coverage Type, 2022 to 2032
Table 19: Latin America Market Value (US$ Mn), By Sales Channel, 2015 to 2021
Table 20: Latin America Market Value (US$ Mn), By Sales Channel, 2022 to 2032
Table 21: Latin America Market Value (US$ Mn), By Animal Type, 2015 to 2021
Table 22: Latin America Market Value (US$ Mn), By Animal Type, 2022 to 2032
Table 23: Latin America Market, By Country, 2015 to 2021
Table 24: Latin America Market, By Country, 2022 to 2032
Table 25: Europe Market Value (US$ Mn), By Coverage Type, 2015 to 2021
Table 26: Europe Market Value (US$ Mn), By Coverage Type, 2022 to 2032
Table 27: Europe Market Value (US$ Mn), By Sales Channel, 2015 to 2021
Table 28: Europe Market Value (US$ Mn), By Sales Channel, 2022 to 2032
Table 29: Europe Market Value (US$ Mn), By Animal Type, 2015 to 2021
Table 30: Europe Market Value (US$ Mn), By Animal Type, 2022 to 2032
Table 31: Europe Market, By Country, 2015 to 2021
Table 32: Europe Market, By Country, 2022 to 2032
Table 33: Asia Pacific Market Value (US$ Mn), By Coverage Type, 2015 to 2021
Table 34: Asia Pacific Market Value (US$ Mn), By Coverage Type, 2022 to 2032
Table 35: Asia Pacific Market Value (US$ Mn), By Sales Channel, 2015 to 2021
Table 36: Asia Pacific Market Value (US$ Mn), By Sales Channel, 2022 to 2032
Table 37: Asia Pacific Market Value (US$ Mn), By Animal Type, 2015 to 2021
Table 38: Asia Pacific Market Value (US$ Mn), By Animal Type, 2022 to 2032
Table 39: Asia Pacific Market, By Country, 2015 to 2021
Table 40: Asia Pacific Market, By Country, 2022 to 2032
Table 41: MEA Market Value (US$ Mn), By Coverage Type, 2015 to 2021
Table 42: MEA Market Value (US$ Mn), By Coverage Type, 2022 to 2032
Table 43: MEA Market Value (US$ Mn), By Sales Channel, 2015 to 2021
Table 44: MEA Market Value (US$ Mn), By Sales Channel, 2022 to 2032
Table 45: MEA Market Value (US$ Mn), By Animal Type, 2015 to 2021
Table 46: MEA Market Value (US$ Mn), By Animal Type, 2022 to 2032
Table 47: MEA Market, By Country, 2015 to 2021
Table 48: MEA Market, By Country, 2022 to 2032
Table 49: Global Market Incremental $ Opportunity, By Coverage Type, 2015 to 2021
Table 50: Global Market Incremental $ Opportunity, By Sales Channel, 2022 to 2032
Table 51: Global Market Incremental $ Opportunity, By Animal Type, 2015 to 2021
Table 52: Global Market Incremental $ Opportunity, By Region, 2022 to 2032
Table 53: North America Market Incremental $ Opportunity, By Coverage Type, 2015 to 2021
Table 54: North America Market Incremental $ Opportunity, By Sales Channel, 2022 to 2032
Table 55: North America Market Incremental $ Opportunity, By Animal Type, 2015 to 2021
Table 56: North America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 57: Latin America Market Incremental $ Opportunity, By Coverage Type, 2015 to 2021
Table 58: Latin America Market Incremental $ Opportunity, By Sales Channel, 2022 to 2032
Table 59: Latin America Market Incremental $ Opportunity, By Animal Type, 2015 to 2021
Table 60: Latin America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 61: Europe Market Incremental $ Opportunity, By Coverage Type, 2015 to 2021
Table 62: Europe Market Incremental $ Opportunity, By Sales Channel, 2022 to 2032
Table 63: Europe Market Incremental $ Opportunity, By Animal Type, 2015 to 2021
Table 64: Europe Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 65: Asia Pacific Market Incremental $ Opportunity, By Coverage Type, 2015 to 2021
Table 66: Asia Pacific Market Incremental $ Opportunity, By Sales Channel, 2022 to 2032
Table 67: Asia Pacific Market Incremental $ Opportunity, By Animal Type, 2015 to 2021
Table 68: Asia Pacific Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 69: MEA Market Incremental $ Opportunity, By Coverage Type, 2015 to 2021
Table 70: MEA Market Incremental $ Opportunity, By Sales Channel, 2022 to 2032
Table 71: MEA Market Incremental $ Opportunity, By Animal Type, 2015 to 2021
Table 72: MEA Market Incremental $ Opportunity, By Country, 2022 to 2032
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List Of Figures
Figure 1: Global Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global Market Absolute $ Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ Mn
Figure 3: Global Market Share, By Coverage Type, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Coverage Type – 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Coverage Type – 2022 to 2032
Figure 6: Global Market Share, By Sales Channel, 2022 & 2032
Figure 7: Global Market Y-o-Y Growth Projections, By Sales Channel – 2022 to 2032
Figure 8: Global Market Attractiveness Index, By Sales Channel – 2022 to 2032
Figure 9: Global Market Share, By Animal Type, 2022 & 2032
Figure 10: Global Market Y-o-Y Growth Projections, By Animal Type – 2022 to 2032
Figure 11: Global Market Attractiveness Index, By Animal Type – 2022 to 2032
Figure 12: Global Market Share, By Region, 2022 & 2032
Figure 13: Global Market Y-o-Y Growth Projections, By Region – 2022 to 2032
Figure 14: Global Market Attractiveness Index, By Region – 2022 to 2032
Figure 15: North America Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 16: North America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 17: North America Market Share, By Coverage Type, 2022 & 2032
Figure 18: North America Market Y-o-Y Growth Projections, By Coverage Type – 2022 to 2032
Figure 19: North America Market Attractiveness Index, By Coverage Type – 2022 to 2032
Figure 20: North America Market Share, By Sales Channel, 2022 & 2032
Figure 21: North America Market Y-o-Y Growth Projections, By Sales Channel – 2022 to 2032
Figure 22: North America Market Attractiveness Index, By Sales Channel – 2022 to 2032
Figure 23: North America Market Share, By Animal Type, 2022 & 2032
Figure 24: North America Market Y-o-Y Growth Projections, By Animal Type – 2022 to 2032
Figure 25: North America Market Attractiveness Index, By Animal Type – 2022 to 2032
Figure 26: North America Market Share, By Country, 2022 & 2032
Figure 27: North America Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 28: North America Market Attractiveness Index, By Country – 2022 to 2032
Figure 29: Latin America Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 30: Latin America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 31: Latin America Market Share, By Coverage Type, 2022 & 2032
Figure 32: Latin America Market Y-o-Y Growth Projections, By Coverage Type – 2022 to 2032
Figure 33: Latin America Market Attractiveness Index, By Coverage Type – 2022 to 2032
Figure 34: Latin America Market Share, By Sales Channel, 2022 & 2032
Figure 35: Latin America Market Y-o-Y Growth Projections, By Sales Channel – 2022 to 2032
Figure 36: Latin America Market Attractiveness Index, By Sales Channel – 2022 to 2032
Figure 37: Latin America Market Share, By Animal Type, 2022 & 2032
Figure 38: Latin America Market Y-o-Y Growth Projections, By Animal Type – 2022 to 2032
Figure 39: Latin America Market Attractiveness Index, By Animal Type – 2022 to 2032
Figure 40: Latin America Market Share, By Country, 2022 & 2032
Figure 41: Latin America Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 42: Latin America Market Attractiveness Index, By Country – 2022 to 2032
Figure 43: Europe Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 44: Europe Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 45: Europe Market Share, By Coverage Type, 2022 & 2032
Figure 46: Europe Market Y-o-Y Growth Projections, By Coverage Type – 2022 to 2032
Figure 47: Europe Market Attractiveness Index, By Coverage Type – 2022 to 2032
Figure 48: Europe Market Share, By Sales Channel, 2022 & 2032
Figure 49: Europe Market Y-o-Y Growth Projections, By Sales Channel – 2022 to 2032
Figure 50: Europe Market Attractiveness Index, By Sales Channel – 2022 to 2032
Figure 51: Europe Market Share, By Animal Type, 2022 & 2032
Figure 52: Europe Market Y-o-Y Growth Projections, By Animal Type – 2022 to 2032
Figure 53: Europe Market Attractiveness Index, By Animal Type – 2022 to 2032
Figure 54: Europe Market Share, By Country, 2022 & 2032
Figure 55: Europe Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 56: Europe Market Attractiveness Index, By Country – 2022 to 2032
Figure 57: MEA Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 58: MEA Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 59: MEA Market Share, By Coverage Type, 2022 & 2032
Figure 60: MEA Market Y-o-Y Growth Projections, By Coverage Type – 2022 to 2032
Figure 61: MEA Market Attractiveness Index, By Coverage Type – 2022 to 2032
Figure 62: MEA Market Share, By Sales Channel, 2022 & 2032
Figure 63: MEA Market Y-o-Y Growth Projections, By Sales Channel – 2022 to 2032
Figure 64: MEA Market Attractiveness Index, By Sales Channel – 2022 to 2032
Figure 65: MEA Market Share, By Animal Type, 2022 & 2032
Figure 66: MEA Market Y-o-Y Growth Projections, By Animal Type – 2022 to 2032
Figure 67: MEA Market Attractiveness Index, By Animal Type – 2022 to 2032
Figure 68: MEA Market Share, By Country, 2022 & 2032
Figure 69: MEA Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 70: MEA Market Attractiveness Index, By Country – 2022 to 2032
Figure 71: Asia Pacific Market Value (US$ Mn) and Year-on-Year Growth, 2015 to 2032
Figure 72: Asia Pacific Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ Mn
Figure 73: Asia Pacific Market Share, By Coverage Type, 2022 & 2032
Figure 74: Asia Pacific Market Y-o-Y Growth Projections, By Coverage Type – 2022 to 2032
Figure 75: Asia Pacific Market Attractiveness Index, By Coverage Type – 2022 to 2032
Figure 76: Asia Pacific Market Share, By Sales Channel, 2022 & 2032
Figure 77: Asia Pacific Market Y-o-Y Growth Projections, By Sales Channel – 2022 to 2032
Figure 78: Asia Pacific Market Attractiveness Index, By Sales Channel – 2022 to 2032
Figure 79: Asia Pacific Market Share, By Animal Type, 2022 & 2032
Figure 80: Asia Pacific Market Y-o-Y Growth Projections, By Animal Type – 2022 to 2032
Figure 81: Asia Pacific Market Attractiveness Index, By Animal Type – 2022 to 2032
Figure 82: Asia Pacific Market Share, By Country, 2022 & 2032
Figure 83: Asia Pacific Market Y-o-Y Growth Projections, By Country – 2022 to 2032
Figure 84: Asia Pacific Market Attractiveness Index, By Country – 2022 to 2032
Figure 85: US Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 86: US Market Share, By Coverage Type, 2021
Figure 87: US Market Share, By Sales Channel, 2021
Figure 88: US Market Share, By Animal Type, 2021
Figure 89: Canada Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 90: Canada Market Share, By Coverage Type, 2021
Figure 91: Canada Market Share, By Sales Channel, 2021
Figure 92: Canada Market Share, By Animal Type, 2021
Figure 93: Brazil Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 94: Brazil Market Share, By Coverage Type, 2021
Figure 95: Brazil Market Share, By Sales Channel, 2021
Figure 96: Brazil Market Share, By Animal Type, 2021
Figure 97: Mexico Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 98: Mexico Market Share, By Coverage Type, 2021
Figure 99: Mexico Market Share, By Sales Channel, 2021
Figure 100: Mexico Market Share, By Animal Type, 2021
Figure 101: Germany Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 102: Germany Market Share, By Coverage Type, 2021
Figure 103: Germany Market Share, By Sales Channel, 2021
Figure 104: Germany Market Share, By Animal Type, 2021
Figure 105: U.K. Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 106: U.K. Market Share, By Coverage Type, 2021
Figure 107: U.K. Market Share, By Sales Channel, 2021
Figure 108: U.K. Market Share, By Animal Type, 2021
Figure 109: France Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 110: France Market Share, By Coverage Type, 2021
Figure 111: France Market Share, By Sales Channel, 2021
Figure 112: France Market Share, By Animal Type, 2021
Figure 113: Italy Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 114: Italy Market Share, By Coverage Type, 2021
Figure 115: Italy Market Share, By Sales Channel, 2021
Figure 116: Italy Market Share, By Animal Type, 2021
Figure 117: BENELUX Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 118: BENELUX Market Share, By Coverage Type, 2021
Figure 119: BENELUX Market Share, By Sales Channel, 2021
Figure 120: BENELUX Market Share, By Animal Type, 2021
Figure 121: Nordic Countries Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 122: Nordic Countries Market Share, By Coverage Type, 2021
Figure 123: Nordic Countries Market Share, By Sales Channel, 2021
Figure 124: Nordic Countries Market Share, By Animal Type, 2021
Figure 125: China Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 126: China Market Share, By Coverage Type, 2021
Figure 127: China Market Share, By Sales Channel, 2021
Figure 128: China Market Share, By Animal Type, 2021
Figure 129: Japan Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 130: Japan Market Share, By Coverage Type, 2021
Figure 131: Japan Market Share, By Sales Channel, 2021
Figure 132: Japan Market Share, By Animal Type, 2021
Figure 133: South Korea Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 134: South Korea Market Share, By Coverage Type, 2021
Figure 135: South Korea Market Share, By Sales Channel, 2021
Figure 136: South Korea Market Share, By Animal Type, 2021
Figure 137: GCC Countries Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 138: GCC Countries Market Share, By Coverage Type, 2021
Figure 139: GCC Countries Market Share, By Sales Channel, 2021
Figure 140: GCC Countries Market Share, By Animal Type, 2021
Figure 141: South Africa Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 142: South Africa Market Share, By Coverage Type, 2021
Figure 143: South Africa Market Share, By Sales Channel, 2021
Figure 144: South Africa Market Share, By Animal Type, 2021
Figure 145: Turkey Market Value (US$ Mn) and Forecast, 2022 to 2032
Figure 146: Turkey Market Share, By Coverage Type, 2021
Figure 147: Turkey Market Share, By Sales Channel, 2021
Figure 148: Turkey Market Share, By Animal Type, 2021
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- 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