PRESS RELEASE
Published August 24, 2023
In a not too long ago launched evaluation titled “Pet Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2026,” Exactitude Consultancy, a good market analysis agency, supplied knowledge. The report provides a radical overview of the market, together with knowledge on market measurement, developments, and development projections for the worldwide Pet Insurance market. The examine highlights probably the most recent developments within the business and gives competitor and geographical evaluation.
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**Note – Updated Version 2023 is obtainable
What this report gives?
- Market measurement (historic and forecast), market development, technological developments, market share, market dynamics, aggressive panorama and key gamers
- Development developments, aggressive panorama evaluation, provide aspect evaluation, demand aspect evaluation, year-over-year development, aggressive benchmarking, vendor identification, CMI quadrant, and different vital evaluation, in addition to growth standing.
- Recent market developments and its potential for future development
- regional studies that may be customised upon request
Growth Drivers
Pet vitamin and well being are comparatively new ideas. Without correct consciousness, it’s tough to promote top quality pet meals. However, the expansion within the international market of pet insurance coverage will likely be proof to elevating consciousness of Animal well being amongst pet homeowners and animal farmers, which is essential cause to higher and secure animal care. Owing to initiatives from firms and well being organizations reminiscent of Global Health Organization which is taking a number of steps to forestall the unfold of ailments.
Modern pet homeowners and Millennials particularly – are in search of extra worth from the businesses they patronize within the type of high-tech and high-touch experiences that make them really feel extra related.
Over the years there was a constant message that proudly owning a pet isn’t essentially low cost. However, Millennials and the opposite demographic teams who’re fuelling the expertise economic system are ignoring this name. They need the very best for his or her ‘fur babies’ and are ready to spend what it takes so as to add worth to their lives, and that of their pets.
As a gaggle, they’re decided to make sure their pet’s life is pretty much as good as it may be. As nicely as the same old high-spend classes of veterinary care, meals, and boarding, in the present day’s pet homeowners are additionally spending a big quantity of money on treats, grooming companies, toys, and even well being dietary supplements and pet know-how.
How large is the Pet Insurance market?
The Global Pet Insurance Market measurement is predicted to develop at greater than 16% CAGR from 2019 to 2026. It is predicted to achieve above USD 17 billion by 2026 from a bit of above USD 6 billion in 2019.
Who are the main gamers on this business?
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
March 23, 2023 Anicom Holdings, Inc. and Tokio Marine & Nichido Fire Insurance Co., Ltd. introduced that each firms have entered right into a capital and business alliance settlement, aiming to develop and supply insurance coverage merchandise and options within the pet area. In recent years, as isolation and loneliness because of the unfold of infectious ailments, the declining birthrate and ageing inhabitants, and the rise in single-person households have grow to be social points, the presence of pets as relations has elevated. Accordingly, the event of optimum options that present safety and security for these pets is required.
June 2021 – Trupanion introduced the plan to increase its abroad development by hiring Wheeler from Agria Pet Insurance Ltd. Wheeler will assist in growth of Trupanion’s worldwide development throughout new markets in Japan, U.Okay., Brazil and Western Europe.
March 2021 – Waffle and Crum & Foster Pet Insurance Group introduced a partnership with ASPCA Pet Health Insurance to supply pet homeowners with customizable and high-quality protection within the U.S.
January 2021 – Nationwide Mutual Insurance Company introduced a partnership with Walmart to assist households with pets save time and money whereas filling pet prescription medicines in any respect the Walmart pharmacies.
What precisely does market segmentation cowl?
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)
- sickness And Accidents
- Chronic Conditions
- Loss/Theft of Pet
- Transit Injury
- Others
Pet Insurance Market By Provider, (In USD Million)
Regional Analysis of the Pet Insurance Market
The market growth, present market developments, and a few analysis methodologies are all coated within the Pet Insurance Industry analysis report. It attracts consideration to essential facets like product portfolios, software program architectures, and manufacturing methods which have a direct affect in the marketplace. Our analysis exhibits that even minor adjustments to a product’s qualities can have a big effect on the beforehand talked about standards.
Europe (Germany, France, the United Kingdom, Russia, Italy)
Southeast Asia, China, Japan, South Korea, and Asia-Pacific
Brazil, Argentina, Colombia, and so on. 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 within 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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