Pet Insurance Market Size To Worth USD 6.64 Bn By 2026

Global Pet Insurance Market Size (2021 to 2026)

The global pet insurance market size is forecasted to be worth USD 6.65 Billion by 2026 from USD 3.62 billion in 2021, registering a CAGR of 12.92% between 2021 to 2026.

KEY MARKET DRIVERS:

Creating awareness over the benefits of pet health insurance is accelerating the growth rate of the market. Good terms between the government organizations and insurance companies are also fuelling the growth rate of the pet insurance market. Growing incidences of chronic illness among pet animals are additionally propelling the growth rate of this market. Increasing support from the public and private organizations to standardize the pet health codes creates growth opportunities for market growth. Pet insurance companies are thriving hard to create awareness among the public over the various policies available in favor to the pet owners is leveling up the market demand. Some organizations took digital platforms to share the information regarding the specific policies of cat and dog breeds, which escalated the growth rate of the market tremendously. Key players are mainly focusing on developing the policies to gain maximum profits, which is leveling up the market demand.

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SIGNIFICANT CHALLENGES:

However, the lack of skilled professionals in managing the policies is slowly impeding the market’s demand. Also, there is less awareness among people in undeveloped countries over the availability of different policies, which is hindering the growth rate of the market. In addition, the rising number of fraudsters is additionally hindering the market demand.

COVID-19 impact on the pet insurance market:

COVID 19 has created unprecedented changes in pet insurance companies. Lockdown restrictions and bans on flights are a big challenging factor for the market players. During the first half of 2020, market players focussed on implementing different strategies to maintain their market position. There is no evidence that there is the transmission of the coronavirus to dogs and cats, or other mammals. According to the World Organization for Animal Health, there is no particular evidence that dogs or cats, including pets, spread COVID 19.

Browse details of the 175 pages global pet insurance market report @ https://www.marketdataforecast.com/market-reports/pet-insurance-market

This research report on the global pet insurance market has been segmented & sub-segmented based on policy, policy type, and region.

By Policy:

• Cat Insurance
• Dog Insurance
• Horse Insurance
• Rabbit Insurance
• Exotic Pet Insurance
• Others

By Policy Type:

• Lifetime Cover
  • Accidental Cover
  • Illness Cover
• Non-lifetime Cover
  • Accidental Cover
  • Illness Cover
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American market is dominating the global pet insurance market among all the regions. The rising number of pet owners and the growing prevalence of insurance policies for pets drive the growth rate of the market in this region. The major countries contributing the largest shares for the market are the United States and Canada. The presence of private insurance companies in the developed countries like the US and Canada greatly influences the demand of the market. In addition, private companies offer the best policies for multiple pets, which are attracting pet owners. This is largely expanding the growth rate of the market in these countries.

Europe is following North America is accounting leading share in the global pet insurance market. Constant economic growth and increasing disposable income are major factors for the market to grow in this region. The launch of innovative policies by companies and creating awareness of these policies through the digital platform promote the demand of the pet insurance market. Asia pacific is deemed to hit the highest CAGR in the coming years. Penetration of the pet insurance policies for companion animals is leveraging the market’s growth rate in this region. Adopting various policies to boost the profits among key players is likely to fuel the market demand.

KEY MARKET PARTICIPANTS:

Petplan Pet Insurance, Embrace Pet Insurance Agency, Royal & Sun Alliance (RSA), Pethealth Inc., Agria Pet Insurance, Pet first Healthcare, Nationwide Pet Insurance, PetSure Pty Ltd., Petsecure Pet Health Insurance, and Hartville Group are some of the notable players in the global pet insurance market.

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List of Tables & Figures of the report:

1. Global Pet Insurance Market, By Region, From 2021 to 2026 (USD Billion)
2. Global Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
3. Global Cat Insurance Market, By Region, From 2021 to 2026 (USD Billion)
4. Global Dog Insurance Market, By Region, From 2021 to 2026 (USD Billion)
5. Global Horse Insurance Market, By Region, From 2021 to 2026 (USD Billion)
6. Global Rabbit Insurance Market, By Region, From 2021 to 2026 (USD Billion)
7. Global Exotic Pet Insurance Market, By Region, From 2021 to 2026 (USD Billion)
8. Global Others Market, By Region, From 2021 to 2026 (USD Billion)
9. Global Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
10. Global Lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
11. Global Non-lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
12. North America Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
13. North America Cat Insurance Market, By Region, From 2021 to 2026 (USD Billion)
14. North America Dog Insurance Market, By Region, From 2021 to 2026 (USD Billion)
15. North America Horse Insurance Market, By Region, From 2021 to 2026 (USD Billion)
16. North America Rabbit Insurance Market, By Region, From 2021 to 2026 (USD Billion)
17. North America Exotic Pet Insurance Market, By Region, From 2021 to 2026 (USD Billion)
18. North America Others Market, By Region, From 2021 to 2026 (USD Billion)
19. North America Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
20. North America Lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
21. North America Non-lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
22. North America Others Market, By Region, From 2021 to 2026 (USD Billion)
23. United States Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
24. United States Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
25. Canada Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
26. Canada Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
27. Europe Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
28. Europe Cat Insurance Market, By Region, From 2021 to 2026 (USD Billion)
29. Europe Dog Insurance Market, By Region, From 2021 to 2026 (USD Billion)
30. Europe Horse Insurance Market, By Region, From 2021 to 2026 (USD Billion)
31. Europe Rabbit Insurance Market, By Region, From 2021 to 2026 (USD Billion)
32. Europe Exotic Pet Insurance Market, By Region, From 2021 to 2026 (USD Billion)
33. Europe Others Market, By Region, From 2021 to 2026 (USD Billion)
34. Europe Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
35. Europe Lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
36. Europe Non-lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
37. Europe Others Market, By Region, From 2021 to 2026 (USD Billion)
38. U.K. Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
39. U.K. Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
40. Germany Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
41. Germany Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
42. France Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
43. France Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
44. Italy Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
45. Italy Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
46. Spain Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
47. Spain Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
48. Belgium Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
49. Belgium Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
50. Hungary Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
51. Hungary Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
52. Netherlands Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
53. Netherlands Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
54. Rest of Europe Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
55. Rest of Europe Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
56. Asia Pacific Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
57. Asia Pacific Cat Insurance Market, By Region, From 2021 to 2026 (USD Billion)
58. Asia Pacific Dog Insurance Market, By Region, From 2021 to 2026 (USD Billion)
59. Asia Pacific Horse Insurance Market, By Region, From 2021 to 2026 (USD Billion)
60. Asia Pacific Rabbit Insurance Market, By Region, From 2021 to 2026 (USD Billion)
61. Asia Pacific Exotic Pet Insurance Market, By Region, From 2021 to 2026 (USD Billion)
62. Asia Pacific Others Market, By Region, From 2021 to 2026 (USD Billion)
63. Asia Pacific Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
64. Asia Pacific Lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
65. Asia Pacific Non-lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
66. Asia Pacific Others Market, By Region, From 2021 to 2026 (USD Billion)
67. Japan Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
68. Japan Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
69. China Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
70. China Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
71. India Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
72. India Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
73. Singapore Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
74. Singapore Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
75. Australia Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
76. Australia Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
77. South Korea Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
78. South Korea Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
79. Latin America Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
80. Latin America Cat Insurance Market, By Region, From 2021 to 2026 (USD Billion)
81. Latin America Dog Insurance Market, By Region, From 2021 to 2026 (USD Billion)
82. Latin America Horse Insurance Market, By Region, From 2021 to 2026 (USD Billion)
83. Latin America Rabbit Insurance Market, By Region, From 2021 to 2026 (USD Billion)
84. Latin America Exotic Pet Insurance Market, By Region, From 2021 to 2026 (USD Billion)
85. Latin America Others Market, By Region, From 2021 to 2026 (USD Billion)
86. Latin America Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
87. Latin America Lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
88. Latin America Non-lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
89. Latin America Others Market, By Region, From 2021 to 2026 (USD Billion)
90. Brazil Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
91. Brazil Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
92. Argentina Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
93. Argentina Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
94. Mexico Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
95. Mexico Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
96. Rest of Latin America Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
97. Rest of Latin America Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
98. The Middle East and Africa Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
99. The Middle East and Africa Cat Insurance Market By Region, From 2021 to 2026 (USD Billion)
100. The Middle East and Africa Dog Insurance Market By Region, From 2021 to 2026 (USD Billion)
101. The Middle East and Africa Horse Insurance Market By Region, From 2021 to 2026 (USD Billion)
102. The Middle East and Africa Rabbit Insurance Market By Region, From 2021 to 2026 (USD Billion)
103. The Middle East and Africa Exotic Pet Insurance Market By Region, From 2021 to 2026 (USD Billion)
104. The Middle East and Africa Others Market By Region, From 2021 to 2026 (USD Billion)
105. The Middle East and Africa Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
106. The Middle East and Africa Lifetime Cover Market By Region, From 2021 to 2026 (USD Billion)
107. The Middle East and Africa Non-lifetime Cover Market By Region, From 2021 to 2026 (USD Billion)
108. The Middle East and Africa Others Market By Region, From 2021 to 2026 (USD Billion)
109. GCC Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
110. GCC Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
111. North Africa Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
112. North Africa Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
113. South Africa Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
114. South Africa Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
115. Rest of the Middle East & Africa Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
116. Rest of the Middle East & Africa Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)

Browse Regional Reports:

• North America Pet Insurance Market
• Europe Pet Insurance Market
• UK Pet Insurance Market
• APAC Pet Insurance Market
• Latin America Pet Insurance Market
• MEA Pet Insurance Market

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