Pet Insurance Market Size to Surpass US$ 32.01 Billion by 2030 - Growth Plus Reports

News provided by

Oct 04, 2022, 10:25 ET

NEW YORK, Oct. 4, 2022 /PRNewswire/ -- According to a new market research report titled, "Pet Insurance Market by Coverage Type (Accident & Illness, Accident Only), by Animal (Canine, Feline), by Sales Channel (Agency, Direct, Broker, Bancassurance) – Global Outlook & Forecast 2022-2030 " published by Growth Plus Reports, the pet insurance market is expected to grow at a CAGR of 16.50% from 2021 to reach US$ 32.01 billion by 2030.

Market Drivers

Growing awareness and digitization of insurance system have been the key trends identified in the global pet insurance market. Digital solution vendors want to work with insurers to deliver value-added services that will improve the insured's experience. For instance, Figo Pet Insurance provides the Figo Pet Cloud, a cloud-based service that enables real-time GPS tracking of pets, management of medical records, mobile claims submission, social pet profiles, a directory of pet-friendly businesses, and appointment and vaccination reminders via a smartphone app. To establish credibility and establish a connection with younger customers, pet insurance should implement a targeted digital marketing plan.

Download PDF Brochure of Pet Insurance Market Size - COVID-19 Impact and Global Analysis with Strategic Developments at: https://growthplusreports.com/inquiry/request-sample/pet-insurance-market/7839

Excerpts from 'by Coverage Type'

The global pet insurance market is divided into two categories:

Accident and Illness
Accident only Covers

Global market dominance has been created by accident and illness category. Increase in the number of veterinary procedures, growth in animal adoption, and more initiatives for animals are the elements causing the expansion of this segment. Accident and illness coverage is most typically offered by all pet insurance vendors. These provide advantages for a variety of conditions, such as prescription drugs, diagnostic procedures, and acute and chronic illnesses. Due to the fact that accident and illness insurance provide comprehensive coverage to pet owners, the segment is expected to grow at the fastest rate in the upcoming years.

Excerpts from 'by Animal'

The global pet insurance market is divided into canine, feline and others categories based on the types of animals. The market has been dominated by the canine category. The increase in dog owners worldwide and the great popularity of dogs as pets are credited with the segment expansion. Due to an increase in the number of people keeping cats as pets, the feline market is expected to continue to expand throughout the projected period.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://growthplusreports.com/inquiry/speak-analyst/pet-insurance-market/7839

Excerpts from 'By Region'

The global pet insurance market has been divided into regional segments for:

North America
Europe
Asia Pacific
Rest of the Globe

The global market has been commanded by the European continent. High pet ownership, an increase in the number of companion animals, greater disposable income, and awareness of pet insurance are the main market drivers in this area. Rising pet adoption rates and increased consumer awareness of various cutting-edge pet insurance plans are two factors that define the market expansion in North America. Pet adoption is a developing trend in the US. Additionally, it is projected that the expansion of veterinary healthcare infrastructure and increased public awareness of veterinary health will support the growth of the local pet insurance business.

Excerpts from 'Competitive Landscape'

Some of the prominent players operating in pet insurance market are:

Trupanion, Inc
Deutsche Familienversicherung AG
Figo Pet Insurance, LLC
Animal Friends Insurance Services Limited
Direct Line
Embrace Pet Insurance Agency, LLC
Anicom Insurance
MetLife Services and Solutions, LLC
Pumpkin Insurance Services Inc
Embrace Pet Insurance Agency, LLC
BPetplan (Allianz)
ipet Insurance Co., Ltd

Table of Content

INTRODUCTION

Market Ecosystem
Timeline Under Consideration

Historical Years – 2020
Base Year – 2021
Forecasted Years – 2022 to 2030

Currency Used in the Report
RESEARCH METHODOLOGY

Research Approach
Data Collection Methodology
Data Sources

Secondary Sources
Primary Sources

Market Estimation Approach

Bottom Up
Top Down

Market Forecasting Model
Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trends (COVID-19 Perspective)
Key Players & Competitive Positioning

MARKET DYNAMICS

Drivers
Restraints
Opportunities

GLOBAL PET INSURANCE MARKET - ANALYSIS & FORECAST, BY COVERAGE TYPE

Accident & Illness
Accident Only
Others

VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
Granular insights at global/regional/country level
Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Winning imperatives
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment
Pricing Intelligence
Customer Base Assessment
Investment & Initiatives Analysis
'Business Profile' of Key Players

Directly Purchase Premium Copy of Pet Insurance Market Growth Report (2022-2030) at: https://growthplusreports.com/checkout?_token=4KAVtI3qrNCOyNkleQKUm3PfLxi7ukO70q3lsu2z&report_id=7839&license=Single

About Us:

Growth+Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).

Growth+ portfolio of services draws on our core capabilities of secondary & primary research, market modelling & forecasting, benchmarking, analysis and strategy formulation to help clients create scalable, ground-breaking solutions that prepare them for future growth and success.

We were awarded by the prestigious CEO Magazine as "Most Innovative Healthcare Market Research Company in 2020.

Contact:
Manan Sethi Director, Market Insights
Email: [email protected]
Phone no: +91 96545 76783
Web: https://growthplusreports.com/
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/1671244/Growth_Plus_Reports_Logo.jpg

SOURCE Growth Plus Reports