Press release
Pet Insurance Plan Services Market Expected to Achieve 16.2% CAGR by 2029: Growth Forecast Insights
Pet Insurance Plan Services Market
What Will the Pet Insurance Plan Services Industry Market Size Be by 2025?
Rapid expansion has been observed in the size of the pet insurance plan services market in the last few years. From $5.31 billion in 2024, it is projected to escalate to $6.19 billion in 2025, with a compound annual growth rate (CAGR) of 16.6%. Factors such as the rise in pet ownership rates, increased cost of veterinary care, growing awareness about insurance, global surge in disposable income, and heightened demand for wellness have contributed to this growth during the historic period.
What's the Long-Term Growth Forecast for the Pet Insurance Plan Services Market Size Through 2029?
The market for pet insurance plan services is projected to proliferate rapidly in the coming years, reaching a value of $11.29 billion in 2029 with a compound annual growth rate (CAGR) of 16.2%. The anticipated expansion in this timeframe can be traced back to the expansion of the urban pet population, escalation in chronic pet diseases, heightened awareness about pet health, emerging need for humanizing pets, and amplified availability of insurance policies. Future trends for the forecasted period include progression in digitalized claim processing, the incorporation of tele-veterinary services, the rise of technology-fueled wellness monitoring tools, enhancements in tailorable insurance plans, and progress in AI-driven risk evaluation.
View the full report here:
https://www.thebusinessresearchcompany.com/report/pet-insurance-plan-services-global-market-report
What Are the Key Growth Drivers Fueling the Pet Insurance Plan Services Market Expansion?
The escalating emphasis on pet health is driving the expansion of the market due to heightened consciousness about proactive treatment and premature disease diagnosis.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=27474&type=smp
Which Emerging Trends Are Transforming the Pet Insurance Plan Services Market in 2025?
Major enterprises in the pet insurance plan market are emphasizing on the creation of advanced healthcare-focused insurance models, such as pet-first wellness and insurance plans. These models aim to deliver more personalized and preventive healthcare solutions for pets. Pet-first wellness and insurance plans can be described as integrated policies that put emphasis on preventive health measures, the management of chronic diseases, and customized recovery care based on each pet's requirements. For example, in August 2022, CarePlus was launched by Chewy Inc., a popular online platform for pet parents and their partners, across 31 states. CarePlus provides features such as 24/7 veterinary telehealth service through its Connect with a Vet functionality, allows direct payments at clinics through Trupanion's integrated software, and assures 100% coverage for qualifying medications and veterinary diet items. These benefits assist in decreasing the financial burden for pet owners while also promoting more consistent, accessible, and economical pet healthcare.
How Is the Pet Insurance Plan Services Market Segmented?
The pet insurance plan services market covered in this report is segmented
1) By Coverage Type: Accident-Only Coverage, Accident And Illness Coverage, Comprehensive Coverage
2) By Plan Type: Lifetime Plans, Maximum Benefit Plans, Time-Limited Plans
3) By Pet Type: Dogs, Cats, Other Pets
4) By Payment Options: Monthly Payments, Annual Payments, Single Payment Option
5) By Sales Channel: Agency, Broker, Bancassurance, Direct
Subsegments:
1) By Accident-Only Coverage: Injury Treatment Plans, Emergency Care Plans, Fracture And Trauma Coverage, Poisoning Treatment Coverage, Accident Diagnostic Services
2) By Accident And Illness Coverage: Infection And Virus Treatment, Chronic Illness Management, Emergency Surgery Coverage, Hereditary Condition Coverage, Diagnostic And Lab Testing
3) By Comprehensive Coverage: Preventive Care Coverage, Vaccination And Routine Checkups, Dental And Oral Care Plans, Behavioral Therapy Coverage, Alternative Therapies And Rehabilitation
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=27474&type=smp
Which Companies Are Leading the Charge in Pet Insurance Plan Services Market Innovation?
Major companies operating in the pet insurance plan services market are MetLife Inc., Nationwide Mutual Insurance Company, Trupanion Inc., Anicom Holdings Inc., Lemonade Inc., Embrace Pet Insurance Agency LLC, Fetch Inc., PetPartners Inc., ManyPets Inc., Petplan Pet Insurance, Oneplan Pet Insurance, ASPCA Pet Health Insurance, Healthy Paws Pet Insurance LLC, Figo Pet Insurance LLC, Pumpkin Insurance Services Inc., Prudent Pet Insurance Agency LLC, American Kennel Club Pet Insurance, Animalia Pet Insurance, Spot Pet Insurance Services LLC, and Hartville Pet Insurance.
Which Regions Are Leading the Global Pet Insurance Plan Services Market in Revenue?
North America was the largest region in the pet insurance plan services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pet insurance plan services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=27474
This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Pet Insurance Plan Services Market Expected to Achieve 16.2% CAGR by 2029: Growth Forecast Insights here
News-ID: 4197107 • Views: …
More Releases from The Business Research Company
Leading Companies Solidify Their Presence in the Silicone Structural Glazing Mar …
The silicone structural glazing market is positioned for significant expansion in the coming years, driven by advances in building technology and increased environmental awareness. This sector is evolving rapidly as demand grows for more energy-efficient and aesthetically appealing architectural solutions. Let's explore the market's current size, key players, emerging trends, and the main segments that are shaping its future.
Silicone Structural Glazing Market Value Forecast Through 2030
The market for silicone…
Future Prospects: Key Trends Shaping the Self-Healing Concrete Market up to 2030
The self-healing concrete market is capturing significant attention as innovations and sustainability demands rise in construction. This sector is set to experience remarkable growth due to advancements in materials and technology, shaping the future of durable and intelligent infrastructure solutions. Let's explore the market's size, key players, emerging trends, and segment outlook to understand its trajectory.
Projected Market Size and Growth Prospects for the Self-Healing Concrete Market
The self-healing concrete market…
Analysis of Key Market Segments Driving the ROS-Based Robot Industry
The ROS-based robot market is positioned for substantial growth as robotics technology continues to advance rapidly. With increasing innovation in software, hardware, and AI integration, this sector is set to transform multiple industries by 2030. Below, we explore the market's future size, leading companies, key trends, and segmentation details to understand its evolving landscape.
Projected Market Size and Expansion of the ROS-Based Robot Market
The ROS-based robot market is anticipated to…
Global Trends Overview: The Rapid Evolution of the Robotic Panelized Home Builde …
The robotic panelized home builder market is positioned for impressive growth in the coming years as automation and robotics increasingly transform construction processes. Driven by technological advancements and expanding prefab housing projects, this market is set to reshape how homes are built with greater speed and efficiency. Let's explore the market's size, leading companies, emerging trends, and key segments that are shaping its future.
Strong Growth Forecast for the Robotic Panelized…
More Releases for Pet
Pet Bakery Market Is Going to Boom |• Baker's Best Pet Foods • Pet Bakery
The worldwide "Pet Bakery Market" 2026 Research Report presents a professional and complete analysis of the Global Pet Bakery Market in the current situation. This report includes development plans and policies along with Pet Bakery manufacturing processes and price structures. The reports 2026 research report offers an analytical view of the industry by studying different factors like Pet Bakery Market growth, consumption volume, Market Size, Revenue, Market Share, Market Trends,…
Pet Carriers Market is Booming Worldwide | K&H Manufacturing, Sherpa Pet, Quaker …
Worldwide Pet Carriers Market In-depth Research Report 2024, Forecast to 2030 is the latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Worldwide Pet Carriers Market. Some of the key players profiled in the study are K&H Manufacturing…
Pet Air Shipping Service Market Growth Expected to See Next Level: Pet Travel, P …
Latest Study on Industrial Growth of Global Pet Air Shipping Service Market 2024-2030. A detailed study accumulated to offer the Latest insights about acute features of the Pet Air Shipping Service market. The report contains different market predictions related to revenue size, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study…
Pet Shops Market 2023- Industry Comprehensive Understanding | PETSMART, PETCO, P …
The Pet Shops market research report is proficient and top to bottom research by specialists on the current state of the industry. This statistical surveying report gives the most up to date industry information and industry future patterns, enabling you to distinguish the items and end clients driving income development and benefit. It centres around the real drivers and restrictions for the key players and present challenge status with development…
Pet Bag Market Set for More Growth : Gen7Pets, Sherpa Pet, Quaker Pet
Advance Market Analytics published a new research publication on "Pet Bag Market Insights, to 2028" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Pet Bag market was mainly driven by the increasing R&D spending across the world. Some of the key players profiled…
Pet Veterinary Diets Market 2019 Industry Dynamics - Mars, Farmina Pet Foods, Ni …
Recent market research study Global Pet Veterinary Diets Market 2019-2024 now available with Fior Markets provides a comprehensive market analysis based on past and current situation of the market. The report covers future trends, current growth drivers, thoughtful insights, facts, market valuation, competitive spectrum, regional share, and revenue predictions. The report shows the market size, share, business growth enhancers, and obstructers, prior and current trends being followed by the market.…
