Pet Insurance Market Analysis: Anticipated Growth at 16% CAGR from 2019 to 2026, Totaling US$ 17 Billion

In a recently released analysis titled "Pet Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2026," Exactitude Consultancy, a reputable market research firm, provided data. The report offers a thorough overview of the market, including data on market size, trends, and growth projections for the global Pet Insurance market. The study highlights the most recent developments in the industry and provides competitor and geographical analysis.

How big is the Pet Insurance market?
The Global Pet Insurance Market size is expected to grow at more than 16% CAGR from 2019 to 2026. It is expected to reach above USD 17 billion by 2026 from a little above USD 6 billion in 2019.

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**Note - Updated Version 2023 is available

Market Overview
The adoption of more pets, the knowledge of pet insurance policies growing, the availability of creative and alluring pet insurance policies, and the rising expense of veterinary care and services.According to the 2022 AVMA Pet Ownership and Demographics Sourcebook, the proportion of US households with at least one dog rose from 38% in 2016 to 45% between 2016 and 2020, but had leveled out by 2022. On the other hand, the proportion of families with at least one cat climbed marginally from 25% to 26% between 2016 and 2020, before rising to 29% in 2022.

Who are the major players in this industry?
Anicom Holdings, NSM Insurance Group, Figo Pet Insurance, Petplan, PetFirst, Trupanion, Hartville Group, Nationwide Mutual Insurance, Direct Line Insurance Group, RSA Group, United Services Automobile Association, Government Employees Insurance Company, Medibank, Healthy Paw Pet Insurance, Agria Pet Insurance, and others.

Recent Developments
June 29, 2023 Well-known brands including RSPCA, Woolworths and Medibank were temporarily blocked from selling pet insurance policies because the insurers failed to properly consider the financial situation of prospective customers.

On Thursday morning, the Australian Securities and Investments Commission (ASIC) issued 38 interim stop orders relating to 67 pet insurance products issued by The Hollard Insurance Company and PetSure Australia across different levels of cover.

These insurance products were issued via brands including Woolworths, RSPCA, Petbarn, Guide Dogs, Medibank, Bupa and HCF. On Thursday evening Hollard and Petsure said they had addressed ASIC's concerns and the stop orders had been lifted.

26 Sep 2022 Against the paw: Millions of pet owners don't secure their dog while driving

In the last five years almost a fifth of dog owners, who do not restrain their animal in the car, have had an accident while driving with their pet.

Is it time to ban dogs putting their heads out of car windows? More than a quarter (28 per cent) of dogs hanging their heads out of a moving vehicle have been injured.

It is a legal requirement to keep animals secure while driving to prevent any unnecessary distractions and potential risk to others on the road.

What exactly does market segmentation cover?
Pet Insurance Market Segment By Animal, (In USD Million)

Dog
Cat
Horse
Rabbit
Exotic Birds
Reptiles
Others
Pet Insurance Market By Policy, (In USD Million)

illness And Accidents
Chronic Conditions
Loss/Theft of Pet
Transit Injury
Others
Pet Insurance Market By Provider, (In USD Million)

Private
Public
Others
Regional Analysis of the Pet Insurance Market
The market development, current market trends, and some research methodologies are all covered in the Pet Insurance Industry research report. It draws attention to crucial aspects like product portfolios, software architectures, and production strategies that have a direct impact on the market. Our research shows that even minor changes to a product's qualities can have a big impact on the previously mentioned criteria.

Europe (Germany, France, the United Kingdom, Russia, Italy)

Southeast Asia, China, Japan, South Korea, and Asia-Pacific

Brazil, Argentina, Colombia, etc. are all in South America.

Americas (US, Canada, and Mexico)

Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria, and South Africa)

Table of Content:

1 Study Reporting
1.1 Pet Insurance Product
1.2 Key Segments in This Study
1.3 Key Companies Covered
1.4 Market by Type
1.4.1 Global Pet Insurance Market Size Growth Rate by Type
1.5 Market by Application

2 Executive Instantaneous
2.1 Global Pet Insurance Market Size
2.1.1 Global Pet Insurance Revenue
2.1.2 Global Pet Insurance Production
2.2 Pet Insurance Growth Rate (CAGR)
2.3 Analysis of Competitive Landscape
2.3.1 Manufacturers Market Concentration Ratio
2.3.2 Key Pet Insurance Manufacturers
2.3.2.1 Pet Insurance Manufacturing Base Distribution, Headquarters
2.3.2.2 Manufacturers Pet Insurance Product Offered
2.3.2.3 Date of Manufacturers Enter into Pet Insurance Market
2.4 Key Trends for Pet Insurance Markets & Products

3 Market Size by Manufacturers
3.1 Pet Insurance Production by Manufacturers
3.2 Mergers & Acquisitions, Expansion Plans

4 Pet Insurance Production by Regions

4.1 Global Pet Insurance Production by Regions
4.1.1 Global Pet Insurance Production Market Share by Regions
4.1.2 Global Pet Insurance Revenue Market Share by Regions
4.2 United States
4.2.1 United States Pet Insurance Production
4.2.2 United States Pet Insurance Revenue
4.2.3 Key Players in United States
4.2.4 United States Pet Insurance Import & Export
4.3 Europe
4.3.1 Europe Pet Insurance Production
4.3.2 Europe Pet Insurance Revenue

5 Pet Insurance Consumption by Regions

5.1 Global Pet Insurance Consumption by Regions
5.1.1 Consumption by Regions
5.1.2 Consumption Market Share by Regions
5.2 North America
5.2.1 North America Consumption by Application
5.2.2 North America Consumption by Countries
5.2.3 United States
5.2.4 Canada
5.2.5 Mexico
5.3 Europe
5.3.1 Europe Consumption by Application
5.3.2 Europe Consumption by Countries
5.3.3 Germany
5.3.4 France
5.3.5 UK
5.3.6 Italy
5.3.7 Russia
5.4 Asia Pacific
5.4.1 Asia Pacific Consumption by Application
5.4.2 Asia Pacific Consumption by Countries
5.5.1 Central & South America) Consumption by Application
5.5.2 Central & South America Consumption by Country

6 Market Size by Type
6.1 Production by Type
6.2 Revenue by Type
6.3 Price by Type

7 Market Size by Application
7.1 Overview
7.2 Global Pet Insurance Breakdown Dada by Application
7.2.1 Global Pet Insurance Consumption by Application
7.2.2 Global Pet Insurance Consumption Market Share by Application

8 Manufacturers Profiles
9 Production Forecasts
9.1 Pet Insurance Production and Revenue Forecast
9.1.1 Global Pet Insurance Production Forecast
9.1.2 Global Pet Insurance Revenue Forecast
9.2 Pet Insurance Production and Revenue Forecast by Regions
9.2.1 Global Pet Insurance Revenue Forecast by Regions
9.2.2 Global Pet Insurance Production Forecast by Regions
9.3 Pet Insurance Key Producers Forecast
9.3.1 United States
9.3.2 Europe
9.3.3 China
9.3.4 Japan
9.4 Forecast by Type
9.4.1 Global Pet Insurance Production Forecast by Type
9.4.2 Global Pet Insurance Revenue Forecast by Type

10 Consumption Forecast
10.1 Pet Insurance Consumption Forecast by Application
10.2 Pet Insurance Consumption Forecast by Regions
10.3 North America Market Consumption Forecast
10.3.1 North America Pet Insurance Consumption Forecast by Regions
10.3.2 United States
10.3.3 Canada
10.3.4 Mexico
10.4 Europe Market Consumption Forecast
10.4.1 Europe Pet Insurance Consumption Forecast by Regions 2018-2025
10.4.2 Germany
10.4.3 France
10.4.4 UK
10.4.5 Italy
10.4.6 Russia
10.5 Asia Pacific Market Consumption Forecast
10.5.1 Asia Pacific Pet Insurance Consumption Forecast by Regions
10.5.2 China
10.5.3 Japan
10.5.4 South Korea
10.5.5 India
10.5.6 Australia
10.5.7 Indonesia
10.5.8 Thailand
10.5.9 Malaysia
10.5.10 Philippines
10.5.11 Vietnam
10.6 Central & South America Market Consumption Forecast
10.6.1 Central & South America Pet Insurance Consumption Forecast by Regions
10.6.2 Brazil
10.7 Middle East and Africa Market Consumption Forecast
10.7.1 Middle East and Africa Pet Insurance Consumption Forecast by Regions
10.7.2 GCC Countries
10.7.3 Egypt
10.7.4 South Africa

11 Value Chain and Sales Channels Analysis
11.1 Value Chain Analysis
11.2 Sales Channels Analysis
11.2.1 Pet Insurance Sales Channels
11.2.2 Pet Insurance Distributors
11.3 Pet Insurance Customers

12 Market Opportunities & Challenges, Risks and Influences Factors Analysis
12.1 Market Opportunities and Drivers
12.2 Market Challenges
12.3 Market Risks/Restraints
12.4 Key World Economic Indicators

13 Key Findings in the Global Pet Insurance Study

14 Appendix
14.1 Research Methodology
14.1.1 Methodology/Research Approach
14.1.1.1 Research Programs/Design
14.1.1.2 Market Size Estimation
14.1.1.3 Market Breakdown and Data Triangulation
14.1.2 Data Source
14.1.2.1 Secondary Sources
14.1.2.2 Primary Sources
14.2 Author Details
14.3 Disclaimer

Continue….

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