Pet Insurance Market Size In 2022: Revenue Forecast, Business Share And Industry Growth, Top Prominent Players, Regional Overview, Demand Status, And Forecast 2031

The global pet insurance market report by the business research company identifies increasing number of pet adoptions is expected to continue during the forecast period to be a major growth driver for the pet insurance market. During the COVID-19 pandemic, demand for adopting or fostering pets rose worldwide, from Canada to India. Adopting pets helps people by providing health benefits such as lowering blood pressure and reducing stress and anxiety. For instance, according to PetPoint, between March and September 2020, the U.S. home number of foster pets increased by 8%. Similarly, according to the Household, Income and Labour Dynamics in Australia (HILDA) Survey, published in 2020, two-thirds of Australians have at least one pet, which accounted for 62% of surveyed people. The reports also indicate that around 72% of Australian pet owners have at least one dog and 37% have at least one cat. Thus, the increasing number of pets adopted will boost the growth of the pet insurance market.

The global pet insurance market size is expected to grow from $5.91 billion in 2021 to $6.94 billion in 2022 at a compound annual growth rate (CAGR) of 12.34%. The global pet insurance market size is expected to reach $11.18 billion in 2026 at a CAGR of 13.90%.

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North America was the largest region in the pet insurance market in 2021. The regions covered in the global pet insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Major players in the organic food market are Trupanion Inc., Deutsche Familienversicherung AG (DFV), Petplan (Allianz), Animal Friends Insurance Services Limited, Figo Pet Insurance LLC, Direct Line, Nationwide Mutual Insurance Company, Embrace Pet Insurance Agency LLC, Anicom Insurance, ipet Insurance Co. Ltd., Hartville Group, Pet Assure Corp., PetFirst, Royal & Sun Alliance (RSA), Agria Pet Insurance Ltd., and 24PetWatch.

The global pet insurance market is segmented -
1) By Policy Coverage: Accident and Illness, Accident Only
2) By Animal Type: Dog, Cat
3) By Provider: Public, Private

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The Pet Insurance Market Report Contents Include
1. Executive Summary
2. Pet Insurance Market Characteristics
3. Pet Insurance Market Trends And Strategies
4. Impact Of COVID-19 On Pet Insurance
5. Pet Insurance Market Size And Growth
....
28. Key Mergers And Acquisitions In The Pet Insurance Market
29. Pet Insurance Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the pet insurance market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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