NEW YORK CITY, July 28, 2023 /PRNewswire/ — The family pet insurance coverage market size is approximated to grow by USD 19,852.9 million in between 2022 and 2027 speeding up at a CAGR of 31.41% throughout the projection duration according to a recent market research study by Technavio. North America is approximated to contribute 61% to the development of the worldwide market throughout the projection duration. North America provides the biggest variety of family pet and animal insurance coverage services on the planet. There is a growing awareness amongst family pet owners about the accessibility of various kinds of family pet insurance coverage services, such as mishaps alone or mishaps and health problems, which is among the significant aspects driving the marketplace in this area. Also, increasing approval of such services by family pet owners due to the benefit of family pet insurance coverage services likewise adds to the development of the area. For more insights on the historical duration (2017 to 2021) and projection market size (2023 to 2027) – Request a sample report
What’s New?
- Special protection on the Russia–Ukraine war; worldwide inflation; healing analysis from COVID-19; supply chain disturbances, worldwide trade stress; and threat of economic crisis
- Global competitiveness and crucial rival positions
- Market existence throughout several geographical footprints – Strong/Active/Niche/Trivial – purchase the report!
Pet Insurance Market – Segmentation Assessment
Segment Overview
Technavio has segmented the marketplace based by type (dogs, cats, and others) and location (North America, Europe, APAC, South America, and Middle East and Africa).
- The dogs section reveals substantial development throughout the projection duration. In recent years, it has actually been observed a considerable boost in adoptions of animals, specifically dogs, as they are the preferred buddies of people. With the growing adoption rate, there is a matching increase in the variety of insurance coverage for dogs. The primary factor for presenting family pet insurance coverage is the event of numerous illness in dogs and the high cost of treatment. Furthermore, a report released by the British Insurers Association in 2020 discovered that 4.8 million animals, consisting of 2.8 million dogs, are guaranteed in the UK. This signifies the prevalent approval of family pet insurance coverage, as the cost of dog disease is so high. Hence, such aspects are anticipated to drive the development of the section throughout the projection duration.
Insights on the marketplace contribution of numerous sectors, consisting of nation and area smart historical information (2017 to 2021), and projection market size (2023 to 2027) – Download a Sample Report
Pet Insurance Market – Market Dynamics
Key Driver –
Pet humanization and the status related to owning animals is an essential element driving the marketplace development. People with several animals purchase family pet care services and insurance coverage to lower tension, boost activity and enhance their social lives. In addition, owning a family pet provides physical and psychological health advantages such as lower high blood pressure and increased exercise.
Leading Trend –
The increasing concentrate on using high-end, superior services is a significant pattern in the market. Consumers treat their animals like family, so they see pet insurance coverage as a high-end and want to pay more for it. The pattern to humanize animals is likewise rising, specifically amongst childless and single-parent populations. Hence, the growing choice for premium family pet care services is anticipated to drive market development throughout the projection duration.
Significant Challenge –
Low adoption in establishing nations is a considerable difficulty limiting market development. Several nations have stringent laws concerning family pet safety and health. However, APAC nations such as India, Sri Lanka, China, Indonesia, and the Philippines do not have such strict family pet safety guidelines. This is due to the absence of companies and authorities to control these concerns. Therefore, those aspects are anticipated to limit the marketplace development throughout the projection duration.
Insights on Market Drivers, patterns, & Challenges, historical duration(2017 to 2021) and projection duration(2023 to 2027)- Request a sample report!
What are the crucial information covered in this Pet Insurance Market report?
- CAGR of the marketplace throughout the projection duration
- Detailed details on aspects that will drive the development of the family pet insurance coverage market in between 2023 and 2027
- Precise estimate of the family pet insurance coverage market size and its contribution to the marketplace in concentrate on the parent market
- Accurate forecasts about upcoming patterns and modifications in customer habits
- Growth of the family pet insurance coverage market throughout North America, Europe, APAC, South America, and Middle East and Africa
- A comprehensive analysis of the marketplace’s competitive landscape and in-depth details about suppliers
- Comprehensive analysis of aspects that will challenge the development of family pet insurance coverage market suppliers
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Related Reports:
The pet grocery store size is anticipated to increase by USD 42.57 billion from 2021 to 2026, and the marketplace’s development momentum will speed up at a CAGR of 7.41%. Furthermore, this report thoroughly covers family pet grocery store division by item (dry food, snacks and treats, and wet food), type (dog food, cat food, and others), and location (North America, Europe, APAC, South America, and Middle East and Africa). The growing need for natural family pet food is significantly driving the family pet grocery store development throughout the projection duration.
The family pet scanners market size is approximated to grow at a CAGR of 4.73% in between 2023 and 2027. The market size is anticipated to increase by USD 477.85 million. Furthermore, this family pet scanners market report thoroughly covers market division by end-user (health centers, diagnostic centers, and others), application (oncology, neurology, cardiology, and others), and (Europe, North America, APAC, and Rest of World (ROW)). The increasing frequency of persistent illness is significantly driving the marketplace development throughout the projection duration.
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Pet Insurance Market Scope |
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Report Coverage |
Details |
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Base year |
2022 |
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Historic duration |
2017-2021 |
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Forecast duration |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 31.41% |
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Market development 2023-2027 |
USD 19,852.9 million |
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Market structure |
Fragmented |
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YoY development 2022-2023 (%) |
29.94 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 61% |
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Key nations |
United States, China, UK, France, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key business profiled |
Agria Pet Insurance Ltd., Allianz SE, Anicom Holdings Inc., Dotsure Ltd., Embrace Pet Insurance Agency LLC, Healthy Paws Pet Insurance LLC, Hollard Insurance Group, Independence Pet Group, Intact Financial Corp., JAB Holding Co. Sarl, Metlife Inc., Nationwide Mutual Insurance Co., NSM Insurance Group, Oneplan, Petofy, Petplan Iberica S.L., Porto Seguro Companhia de Seguros Gerais, The Oriental Insurance Company Ltd., The Progressive Corp., and Trupanion Inc. |
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Market characteristics |
Parent market analysis, Market development inducers and barriers, Fast-growing and slow-growing section analysis, COVID-19 effect and healing analysis and future customer characteristics, Market condition analysis for projection duration. |
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Customization province |
If our report has actually not consisted of the information that you are searching for, you can connect to our experts and get sectors personalized. |
Table of Contents
1 Executive Summary
- 1.1 Market introduction
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Insurance Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market environment
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market meaning
- Exhibit 12: Offerings of suppliers consisted of in the market meaning
- 3.2 Market section analysis
- Exhibit 13: Market sectors
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global – Market size and projection 2022-2027 ($ million)
- Exhibit 15: Data Table on Global – Market size and projection 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year development 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year development 2022-2027 (%)
4 Historic Market Size
- 4.1 Global family pet insurance coverage market 2017 – 2021
- Exhibit 18: Historic Market Size – Data Table on Global family pet insurance coverage market 2017 – 2021 ($ million)
- 4.2 Type Segment Analysis 2017 – 2021
- Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ million)
- 4.3 Insurance Type Segment Analysis 2017 – 2021
- Exhibit 20: Historic Market Size – Insurance Type Segment 2017 – 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 – 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
- 4.5 Country Segment Analysis 2017 – 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis – Comparison in between 2022 and 2027
- 5.2 Bargaining power of purchasers
- Exhibit 24: Chart on Bargaining power of purchasers – Impact of crucial aspects 2022 and 2027
- 5.3 Bargaining power of providers
- Exhibit 25: Bargaining power of providers – Impact of crucial consider 2022 and 2027
- 5.4 Threat of brand-new entrants
- Exhibit 26: Threat of brand-new entrants – Impact of crucial consider 2022 and 2027
- 5.5 Threat of alternatives
- Exhibit 27: Threat of alternatives – Impact of crucial consider 2022 and 2027
- 5.6 Threat of competition
- Exhibit 28: Threat of competition – Impact of crucial consider 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition – Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market sectors
- Exhibit 30: Chart on Type – Market share 2022-2027 (%)
- Exhibit 31: Data Table on Type – Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 Dogs – Market size and projection 2022-2027
- Exhibit 34: Chart on Dogs – Market size and projection 2022-2027 ($ million)
- Exhibit 35: Data Table on Dogs – Market size and projection 2022-2027 ($ million)
- Exhibit 36: Chart on Dogs – Year-over-year development 2022-2027 (%)
- Exhibit 37: Data Table on Dogs – Year-over-year development 2022-2027 (%)
- 6.4 Cats – Market size and projection 2022-2027
- Exhibit 38: Chart on Cats – Market size and projection 2022-2027 ($ million)
- Exhibit 39: Data Table on Cats – Market size and projection 2022-2027 ($ million)
- Exhibit 40: Chart on Cats – Year-over-year development 2022-2027 (%)
- Exhibit 41: Data Table on Cats – Year-over-year development 2022-2027 (%)
- 6.5 Others – Market size and projection 2022-2027
- Exhibit 42: Chart on Others – Market size and projection 2022-2027 ($ million)
- Exhibit 43: Data Table on Others – Market size and projection 2022-2027 ($ million)
- Exhibit 44: Chart on Others – Year-over-year development 2022-2027 (%)
- Exhibit 45: Data Table on Others – Year-over-year development 2022-2027 (%)
- 6.6 Market chance by Type
- Exhibit 46: Market chance by Type ($ million)
- Exhibit 47: Data Table on Market chance by Type ($ million)
7 Market Segmentation by Insurance Type
- 7.1 Market sectors
- Exhibit 48: Chart on Insurance Type – Market share 2022-2027 (%)
- Exhibit 49: Data Table on Insurance Type – Market share 2022-2027 (%)
- 7.2 Comparison by Insurance Type
- Exhibit 50: Chart on Comparison by Insurance Type
- Exhibit 51: Data Table on Comparison by Insurance Type
- 7.3 Accidents and disease – Market size and projection 2022-2027
- Exhibit 52: Chart on Accidents and disease – Market size and projection 2022-2027 ($ million)
- Exhibit 53: Data Table on Accidents and disease – Market size and projection 2022-2027 ($ million)
- Exhibit 54: Chart on Accidents and disease – Year-over-year development 2022-2027 (%)
- Exhibit 55: Data Table on Accidents and disease – Year-over-year development 2022-2027 (%)
- 7.4 Accidents just – Market size and projection 2022-2027
- Exhibit 56: Chart on Accidents just – Market size and projection 2022-2027 ($ million)
- Exhibit 57: Data Table on Accidents just – Market size and projection 2022-2027 ($ million)
- Exhibit 58: Chart on Accidents just – Year-over-year development 2022-2027 (%)
- Exhibit 59: Data Table on Accidents just – Year-over-year development 2022-2027 (%)
- 7.5 Others – Market size and projection 2022-2027
- Exhibit 60: Chart on Others – Market size and projection 2022-2027 ($ million)
- Exhibit 61: Data Table on Others – Market size and projection 2022-2027 ($ million)
- Exhibit 62: Chart on Others – Year-over-year development 2022-2027 (%)
- Exhibit 63: Data Table on Others – Year-over-year development 2022-2027 (%)
- 7.6 Market chance by Insurance Type
- Exhibit 64: Market chance by Insurance Type ($ million)
- Exhibit 65: Data Table on Market chance by Insurance Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape introduction
- Exhibit 66: Analysis of cost level of sensitivity, lifecycle, consumer purchase basket, adoption rates, and purchase requirements
9 Geographic Landscape
- 9.1 Geographic division
- Exhibit 67: Chart on Market share by location 2022-2027 (%)
- Exhibit 68: Data Table on Market share by location 2022-2027 (%)
- 9.2 Geographic contrast
- Exhibit 69: Chart on Geographic contrast
- Exhibit 70: Data Table on Geographic contrast
- 9.3 North America – Market size and projection 2022-2027
- Exhibit 71: Chart on North America – Market size and projection 2022-2027 ($ million)
- Exhibit 72: Data Table on North America – Market size and projection 2022-2027 ($ million)
- Exhibit 73: Chart on North America – Year-over-year development 2022-2027 (%)
- Exhibit 74: Data Table on North America – Year-over-year development 2022-2027 (%)
- 9.4 Europe – Market size and projection 2022-2027
- Exhibit 75: Chart on Europe – Market size and projection 2022-2027 ($ million)
- Exhibit 76: Data Table on Europe – Market size and projection 2022-2027 ($ million)
- Exhibit 77: Chart on Europe – Year-over-year development 2022-2027 (%)
- Exhibit 78: Data Table on Europe – Year-over-year development 2022-2027 (%)
- 9.5 APAC – Market size and projection 2022-2027
- Exhibit 79: Chart on APAC – Market size and projection 2022-2027 ($ million)
- Exhibit 80: Data Table on APAC – Market size and projection 2022-2027 ($ million)
- Exhibit 81: Chart on APAC – Year-over-year development 2022-2027 (%)
- Exhibit 82: Data Table on APAC – Year-over-year development 2022-2027 (%)
- 9.6 South America – Market size and projection 2022-2027
- Exhibit 83: Chart on South America – Market size and projection 2022-2027 ($ million)
- Exhibit 84: Data Table on South America – Market size and projection 2022-2027 ($ million)
- Exhibit 85: Chart on South America – Year-over-year development 2022-2027 (%)
- Exhibit 86: Data Table on South America – Year-over-year development 2022-2027 (%)
- 9.7 Middle East and Africa – Market size and projection 2022-2027
- Exhibit 87: Chart on Middle East and Africa – Market size and projection 2022-2027 ($ million)
- Exhibit 88: Data Table on Middle East and Africa – Market size and projection 2022-2027 ($ million)
- Exhibit 89: Chart on Middle East and Africa – Year-over-year development 2022-2027 (%)
- Exhibit 90: Data Table on Middle East and Africa – Year-over-year development 2022-2027 (%)
- 9.8 United States – Market size and projection 2022-2027
- Exhibit 91: Chart on United States – Market size and projection 2022-2027 ($ million)
- Exhibit 92: Data Table on United States – Market size and projection 2022-2027 ($ million)
- Exhibit 93: Chart on United States – Year-over-year development 2022-2027 (%)
- Exhibit 94: Data Table on United States – Year-over-year development 2022-2027 (%)
- 9.9 China – Market size and projection 2022-2027
- Exhibit 95: Chart on China – Market size and projection 2022-2027 ($ million)
- Exhibit 96: Data Table on China – Market size and projection 2022-2027 ($ million)
- Exhibit 97: Chart on China – Year-over-year development 2022-2027 (%)
- Exhibit 98: Data Table on China – Year-over-year development 2022-2027 (%)
- 9.10 UK – Market size and projection 2022-2027
- Exhibit 99: Chart on UK – Market size and projection 2022-2027 ($ million)
- Exhibit 100: Data Table on UK – Market size and projection 2022-2027 ($ million)
- Exhibit 101: Chart on UK – Year-over-year development 2022-2027 (%)
- Exhibit 102: Data Table on UK – Year-over-year development 2022-2027 (%)
- 9.11 France – Market size and projection 2022-2027
- Exhibit 103: Chart on France – Market size and projection 2022-2027 ($ million)
- Exhibit 104: Data Table on France – Market size and projection 2022-2027 ($ million)
- Exhibit 105: Chart on France – Year-over-year development 2022-2027 (%)
- Exhibit 106: Data Table on France – Year-over-year development 2022-2027 (%)
- 9.12 Germany – Market size and projection 2022-2027
- Exhibit 107: Chart on Germany – Market size and projection 2022-2027 ($ million)
- Exhibit 108: Data Table on Germany – Market size and projection 2022-2027 ($ million)
- Exhibit 109: Chart on Germany – Year-over-year development 2022-2027 (%)
- Exhibit 110: Data Table on Germany – Year-over-year development 2022-2027 (%)
- 9.13 Market chance by location
- Exhibit 111: Market chance by location ($ million)
- Exhibit 112: Data Tables on Market chance by location ($ million)
10 Drivers, Challenges, and Trends
- 10.3 Impact of drivers and obstacles
- Exhibit 113: Impact of drivers and obstacles in 2022 and 2027
11 Vendor Landscape
- 11.2 Vendor landscape
- Exhibit 114: Overview on Criticality of inputs and Factors of distinction
- 11.3 Landscape disturbance
- Exhibit 115: Overview on aspects of disturbance
- 11.4 Industry dangers
- Exhibit 116: Impact of crucial dangers on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 117: Vendors covered
- 12.2 Market positioning of suppliers
- Exhibit 118: Matrix on supplier position and category
- 12.3 Agria Pet Insurance Ltd.
- Exhibit 119: Agria Pet Insurance Ltd. – Overview
- Exhibit 120: Agria Pet Insurance Ltd. – Product / Service
- Exhibit 121: Agria Pet Insurance Ltd. – Key offerings
- 12.4 Anicom Holdings Inc.
- Exhibit 122: Anicom Holdings Inc. – Overview
- Exhibit 123: Anicom Holdings Inc. – Product / Service
- Exhibit 124: Anicom Holdings Inc. – Key offerings
- 12.5 Dotsure Ltd.
- Exhibit 125: Dotsure Ltd. – Overview
- Exhibit 126: Dotsure Ltd. – Product / Service
- Exhibit 127: Dotsure Ltd. – Key offerings
- 12.6 Hollard Insurance Group
- Exhibit 128: Hollard Insurance Group – Overview
- Exhibit 129: Hollard Insurance Group – Product / Service
- Exhibit 130: Hollard Insurance Group – Key offerings
- 12.7 Independence Pet Group
- Exhibit 131: Independence Pet Group – Overview
- Exhibit 132: Independence Pet Group – Product / Service
- Exhibit 133: Independence Pet Group – Key offerings
- 12.8 Intact Financial Corp.
- Exhibit 134: Intact Financial Corp. – Overview
- Exhibit 135: Intact Financial Corp. – Product / Service
- Exhibit 136: Intact Financial Corp. – Key offerings
- 12.9 JAB Holding Co. Sarl
- Exhibit 137: JAB Holding Co. Sarl – Overview
- Exhibit 138: JAB Holding Co. Sarl – Product / Service
- Exhibit 139: JAB Holding Co. Sarl – Key news
- Exhibit 140: JAB Holding Co. Sarl – Key offerings
- 12.10 Metlife Inc.
- Exhibit 141: Metlife Inc. – Overview
- Exhibit 142: Metlife Inc. – Business sectors
- Exhibit 143: Metlife Inc. – Key offerings
- Exhibit 144: Metlife Inc. – Segment focus
- 12.11 NSM Insurance Group
- Exhibit 145: NSM Insurance Group – Overview
- Exhibit 146: NSM Insurance Group – Product / Service
- Exhibit 147: NSM Insurance Group – Key offerings
- 12.12 Oneplan
- Exhibit 148: Oneplan – Overview
- Exhibit 149: Oneplan – Product / Service
- Exhibit 150: Oneplan – Key offerings
- 12.13 Petofy
- Exhibit 151: Petofy – Overview
- Exhibit 152: Petofy – Product / Service
- Exhibit 153: Petofy – Key offerings
- 12.14 Petplan Iberica S.L.
- Exhibit 154: Petplan Iberica S.L. – Overview
- Exhibit 155: Petplan Iberica S.L. – Product / Service
- Exhibit 156: Petplan Iberica S.L. – Key offerings
- 12.15 Porto Seguro Companhia de Seguros Gerais
- Exhibit 157: Porto Seguro Companhia de Seguros Gerais – Overview
- Exhibit 158: Porto Seguro Companhia de Seguros Gerais – Product / Service
- Exhibit 159: Porto Seguro Companhia de Seguros Gerais – Key offerings
- 12.16 The Oriental Insurance Company Ltd.
- Exhibit 160: The Oriental Insurance Company Ltd. – Overview
- Exhibit 161: The Oriental Insurance Company Ltd. – Product / Service
- Exhibit 162: The Oriental Insurance Company Ltd. – Key offerings
- 12.17 Trupanion Inc.
- Exhibit 163: Trupanion Inc. – Overview
- Exhibit 164: Trupanion Inc. – Business sectors
- Exhibit 165: Trupanion Inc. – Key offerings
- Exhibit 166: Trupanion Inc. – Segment focus
13 Appendix
- 13.2 Inclusions and exemptions list
- Exhibit 167: Inclusions list
- Exhibit 168: Exclusions list
- 13.3 Currency conversion rates for US$
- Exhibit 169: Currency conversion rates for US$
- 13.4 Research method
- Exhibit 170: Research method
- Exhibit 171: Validation methods used for market sizing
- Exhibit 172: Information sources
- 13.5 List of abbreviations
- Exhibit 173: List of abbreviations
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