Pet Insurance Market Global Growth Key Factors, Demand, Business Share, and Size Forecast to 2026
The global “Pet Insurance Market Size” is projected to reach USD 11.25 billion by 2026. The increasing pet adoption in leading countries across the world will have a direct impact on the growth of the market. According to a report published by Fortune Business Insights, titled “Pet Insurance Market Size, Share & Industry Analysis, By Policy Coverage Type (Accident & Illness, Accident Only, Others), By Animal Type (Dog, Cat, Others), By Provider (Public, Private) and Regional Forecast, 2019-2026,” the market was worth USD 6.05 billion in 2018. Driven by flexibility in product offerings, the market will exhibit a CAGR of 8.0% during the forecast period, 2019-2026.
Key Players Operating in The Pet Insurance Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Trupanion
- Anicom Holdings
- Nationwide Mutual Insurance Company
- ASPCA
- Healthy Paws Pet Insurance, LLC.
- Embrace Pet Insurance Agency, LLC
- Figo Pet Insurance LLC.
- Agria Pet Insurance Ltd
- 24PetWatch
- Pets Best Insurance Services, LLC.
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Highlights of the Report:
- In-depth analysis of various insights, namely, Pet Insurance Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Pet Insurance Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
Europe to Emerge Dominant; Influx of Start-ups to Aid Growth
The report analyzes the ongoing pet insurance market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Europe generated the highest market revenue in 2018. Europe is projected to dominate the market in the coming years driven by the increasing number of start-ups in several countries across this region. The increasing number of government initiatives to promote animal wellness and health, coupled with encouragement for pet adoption, will aid the growth of the market in this region. Besides Europe, the market in North America will exhibit considerable CAGR. As of 2018, the market in North America was worth USD 1.42 billion and this value is likely to increase further in the coming years.
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Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Pet Insurance Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Pet Insurance Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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