New York, USA, April 1, 2024 (Globe Newswire) — The global pet insurance market size will grow from USD 9.34 billion in 2023 to 2033, at a compound annual growth rate (CAGR) of 15.52%. It is expected to grow to USD 39.53 billion. During the scheduled period.
Get a sample PDF brochure: https://www.sphericalinsights.com/request-sample/3920
Pet insurance is a special type of liability insurance that helps owners protect their pets from unexpected expenses such as medical care, surgeries, accidents, and prescription drugs. This insurance offers a variety of benefits to pet owners, which is helpful considering the rising costs of veterinary care. One of the major driving forces for the business is the consistent and significant increase in veterinary expenses, driving the global pet insurance market. Advances in veterinary technology mean pet owners have to pay more for increasingly effective and sophisticated medicines. Pet owners are willing to invest financially in their animals' health, and insurance acts as a safety net, allowing them to do so without worrying about incurring huge veterinary bills.
Browse the report's 110 market data tables and 200 pages of key industry insights, including figures and charts. ”Global pet insurance market Size, share, impact analysis of COVID-19, by scope of coverage (accident only, accident and illness, others), by animal type (dogs, cats, others), by distribution channel (agents, intermediaries, direct) , Others), regional (North America, Europe, Asia Pacific, Latin America, Middle East, Africa) analysis and forecasts from 2023 to 2033.
Buy now Full report: https://www.sphericalinsights.com/checkout/3920
The accident and illness segment is expected to hold the largest share of the global pet insurance market during the forecast period.
The pet insurance market is categorized into accident only, accident and illness, and other. Among these, the accident and illness segment is expected to hold the largest share of the global pet insurance market during the forecast period. This development can be attributed to a number of important factors, including the rising cost of veterinary treatment and diagnosis, the growing companion animal population, and increased awareness of the benefits of pet insurance.
The dog segment is expected to hold the largest share in the global pet insurance market during the forecast period.
Based on animal type, the global pet insurance market is segmented into dogs, cats, and others. Out of this, the dog segment is expected to hold the largest share in the global pet insurance market during the forecast period. This rate is influenced by a number of important factors, including increased disposable income in key sectors, increased pet acceptance, and expanded service offerings by insurance companies.
The direct sales segment is expected to hold the largest share of the global pet insurance market. Expected duration.
Based on distribution channel, the global pet insurance market is divided into agents, intermediaries, direct insurance, etc. Out of this, the direct sales segment is expected to hold the largest share in the global pet insurance market during the forecast period. The prominent use of direct sales strategies by large pet insurance companies is one of the key drivers.
Please contact us before purchasing this research report: https://www.sphericalinsights.com/inquiry-before-buying/3920
North America is expected to hold the largest share in the global pet insurance market over the forecast period.
North America is expected to hold the largest share in the global pet insurance market over the forecast period. The industry is expected to expand due to increased pet ownership and improved market competitiveness due to new insurance products.
Throughout the forecast period, the Asia-Pacific region is expected to develop at the fastest rate. Increasing urbanization, increasing disposable income, and changing lifestyles are all contributing factors to increased pet ownership in countries such as Australia, China, and Japan. The demand for pet insurance is increasing as people become more aware of the health and welfare of their dogs.
Competitive analysis:
The report offers pertinent analysis of key organizations/companies involved in the global market along with comparative evaluation mainly based on product offerings, business overview, geographical presence, corporate strategies, segment market shares, and SWOT analysis. . The report also provides an in-depth analysis focusing on the company's current news and developments, including product development, innovation, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and more. This allows you to assess the overall competition within the market. Key vendors in the global pet insurance market include Agria Pet Insurance Ltd., Anicom Holdings Inc., Direct Line Insurance Group plc, dotsure.co.za, Embrace Pet Insurance Agency LLC, Figo Pet Insurance LLC, PTZ Insurance Agency, Ltd ., Healthy Paws Pet Insurance LLC, Medibank Private Limited, MetLife Services and Solutions LLC, Nationwide Mutual Insurance Company, Pethealth Inc., Petplan (Allianz Insurance plc), The Oriental Insurance Company Ltd., Trupanion and others.
Get a discount @ https://www.sphericalinsights.com/request-discount/3920
recent trends
- In January 2024, Odie Pet Insurance, a company focused on reducing the cost and increasing accessibility of pet insurance, and Five Sigma, a leader in cloud-based claims management software, have partnered.
- In November 2023, The partnership was formed in November 2023 by Fetch and Best Friends Animal Society, a national nonprofit organization dedicated to eliminating the killing of dogs and cats in U.S. shelters by 2025.
market segment
This study projects revenue at global, regional and country levels from 2020 to 2033. Spherical Insights has segmented the global Pet Insurance market on the basis of the following segments:
Global pet insurance market by coverage type
- Accident only
- accidents and illnesses
- others
Global pet insurance market by animal type
Global pet insurance market, by distribution channel
Global pet insurance market, by region
- North America
- Europe
- Germany
- England
- France
- Italy
- Spain
- Russia
- rest of europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- south america
- Brazil
- Argentina
- rest of south america
- middle east and africa
- United Arab Emirates
- Saudi Arabia
- qatar
- South Africa
- rest of the Middle East and Africa
See related reports
Global liver cancer treatment drug market size, Shares by type (hepatoblastoma, hepatocellular carcinoma, bile duct cancer, etc.), drug class (targeted therapy, immunotherapy, chemotherapy, etc.), and region (North America, Europe, Asia) and new coronavirus infection Impact analysis (Pacific, Latin America, Middle East, Africa), 2023-2033 Analysis and Forecast
Global chemotherapy market size, By drug class (mitotic inhibitors, alkylating agents, antimetabolites, topoisomerase inhibitors, antineoplastic antibiotics) and by indication (breast cancer, lung cancer, colorectal cancer, prostate cancer, gastric cancer, lymphoma, leukemia, and ovarian cancer), by route of drug administration (intravenous, oral, subcutaneous, intramuscular, intravesical, topical, intraperitoneal, intraventricular/intrathecal), and by end user (specialty centers and hospitals and clinics). ), analysis and forecast by region (North America, Europe, Asia Pacific, Latin America, Middle East, Africa), 2023-2033
Global postnatal health supplement market size, Share and COVID-19 by product type (single nutritional supplements, complex nutritional supplements), formulation (capsules and tablets, softgels, liquids), distribution channel (hospital, retail, online), and region (northern) Impact analysis of viral infections (Americas, Europe, Asia Pacific, Latin America, Middle East, Africa), analysis and forecasts from 2023 to 2033
Global transthyretin amyloidosis treatment market size, Share and impact analysis of COVID-19, by type (ATTR-PN, ATTR-CM), treatment (targeted therapy, supportive care, pipeline), and disease type (hereditary transthyretin amyloidosis, wild Analysis and Forecast by Distribution Channel (Hospital Pharmacy, Specialty Pharmacy, Retail Pharmacy, Online Pharmacy) and Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), 2023-2033
About Spherical Insights & Consulting
spherical insight &consulting is a market research and consulting firm that provides actionable market research studies, quantitative forecasts, and trend analysis, delivering forward-looking insights designed specifically for decision makers to help drive ROI.
We serve a variety of industries including the financial sector, industrial sector, government agencies, universities, non-profit organizations, and corporations. The company's mission is to work with companies to achieve business goals and sustain strategic improvement.
inquiry:
For more information on our target markets, please contact us below.
phone: +1 303 800 4326 (USA)
Phone: +91 90289 24100 (APAC)
Email: contact@sphericalinsights.com, sales@sphericalinsights.com
inquiry: https://www.sphericalinsights.com/contact-us
Please follow us: linkedin | Facebook | twitter
