The pet insurance market has a CAGR of 5.66% during the forecast period to reach
Introduction
Market Trend:
The global pet insurance market is likely to increase in the coming years due to rising veterinary healthcare prices. The growing trend of pet adoption and purchase during the COVID-19 pandemic would also play a vital role in the pet insurance market.
However,
Growth factors
Increasing costs of veterinary health care
With the increasing adoption and purchase of pets, the veterinary healthcare industry has also become significantly more expensive. Knee replacements, advanced allergy testing, cancer treatments, and chiropractic care that were once exclusively available to humans are now available to dogs and cats. According to
Additionally, pet owners have noticed a significant increase in dog theft cases. According to information released under the Freedom of Information Act by

Hold back
Increase in policy prices
Pet insurance rates have risen rapidly over the past few years. Veterinary treatments have advanced to the point that veterinarians can now diagnose and treat pet illnesses with much greater accuracy than ever before. However, these treatments come at a cost, and they will inevitably affect pet insurance premiums. Also, some insurance providers are much more careful about their financial decisions and want to generate as much revenue as possible. Some of them are more proactive in raising their rates than others and tend to risk losing customers as a result.
Also, even if the pet is currently in perfect condition and has never filed a claim, pet insurance premiums can go up. As animals age, they become more likely to get sick, which increases the cost of insurance. Since pets live a shorter time on average than people, they may seem to be affected by more diseases and succumb to them sooner.
Market Segmentation:
By type of animal
By policy type
- Lifetime coverage
- Sickness cover
- Accident coverage
- Lifetime coverage
- Sickness cover
- Accident coverage
At Geography
Main topics covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. SUMMARY
4. MARKET DYNAMICS
5. PET INSURANCE MARKET BY ANIMAL TYPE
6. ON-DEMAND PET INSURANCE MARKETPLACE
7. PET INSURANCE MARKET BY COUNTRY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
The mentioned companies
National Mutual Insurance Company - Metlife Inc.
Healthy Paws Pet Insurance, LLC .- Cram and Foster
- Trupanion
Petplan Limited Embrace Pet Insurance Agency, LLC Animal Friends Insurance. Petsecure Health insurance for pets - 24PetWatch
For more information on this report, visit https://www.researchandmarkets.com/r/3fquze
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