Pet Insurance Market Size, Share & Growth Analysis to 2030
The global pet insurance market size was valued at USD 7 billion in 2020 and anticipated to register a significant CAGR of over 7% by 2030. The rising adoption of pets and the increasing incidence of diseases in dogs are some primary factors to drive the market growth. The global pet insurance market is segmented into policy type, animal, sales channel, and geography. On the basis of policy type, the market is further segmented into an accident only, accident & illness, and others. The accident and illness insurance segment held the largest market share in 2020 by revenue. On the basis of animal type, the segment growth is attributed to the increasing adoption of dogs across the world.
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According to the recent report published by RC Market Analytics, the Global Pet Insurance Market is expected to provide sustainable growth opportunities during the forecast period from 2023 to 2030. This latest industry research study analyzes the pet insurance market by various product segments, applications, regions and countries while assessing regional performances of numerous leading market participants. The report offers a holistic view of the pet insurance industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global pet insurance market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.
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Geographically, the pet insurance market report comprises dedicated sections centering on the regional market revenue and trends. The pet insurance market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Pet insurance market estimates have also been provided for the historical years 2020 & 2021 along with forecast for the period from 2023 - 2030. The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, Italy, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.
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The Pet Insurance Market Segmentation:
By Policy:
Accident only
Accident & illness
Others
By Animal:
Cat
Dog
Others (Rabbits, Horses, and other animals)
By Sales Channel:
Agency
Broker
Bancassurance
Direct Writing
By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key players operating in the global pet insurance market are Floracopeia Inc., UniKode S.A., Robertet Groupe, Lluch Essence Sl, International Fragrance and Flavor Inc., Fleurchem Inc., Frager S.A., Ernesto Ventos Sa, and Haiti Essential Oil Co., SA.
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Key Questions Answered by Pet Insurance Market Report:
Product popularity and adoption based on various country-level dynamics
Regional presence and product development for leading market participants
Market forecasts and trend analysis based on ongoing investments and economic growth in key countries
Competitive landscape based on revenue, product offerings, years of presence, number of employees and market concentration, among others
Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to Pet Insurance market
Analysis of the key factors driving and restraining the growth of the global, regional and country-level markets from 2020-2027
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