Pet Insurance Market by 2023: Up-gradation in insurance policies driving Global Insurance Industry
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Increase in awareness about pet insurance, rise in number of companion animals, and growth in pet ownership and associated health benefits of pet ownership propels the growth of the market. However, high cost of pet insurance policies, lack of awareness among consumers, and government regulation limits the growth of the market. Furthermore, largely untapped market with extremely low penetration rates is expected to provide numerous opportunities for the pet insurance market.
Key Market Players Profiled In The Report:
• Petplan Limited
• Trupanion, Inc.
• Nationwide Mutual Insurance Company.
• Hartville Group Inc.
• Pethealth Inc.
• PetFirst Healthcare LLC
• Royal & Sun Alliance Insurance Company of Canada, Inc.
• Embrace Pet Insurance Agency, LLC
• Direct Line Insurance Group plc
The pet insurance market is segmented on the basis of end user, policy type, and region. End user segment covered in this study include dog, cat, horse, exotic pet, and others. Based on policy type, the market is classified into Lifetime Cover and Non-Lifetime Cover. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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• The study provides an in-depth analysis of the global pet insurance market and current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities is provided.
• Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global market from 2016 to 2023 is provided to determine the pet insurance market potential.
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