According to the survey in 2019 North American Pet Health Insurance Association (NAPHIA), the average cost for pet insurance in the U.S. in 2019 was USD 585.40 per year for dogs and USD 349.93 for cats.
The market for pet insurance in the United States was valued at USD 1.56 billion. Furthermore, this will directly create a chance for players to capture untapped customers and offer various items to enhance sales and customer satisfaction. It also helps to mitigate the financial risk of unforeseen veterinary bills by covering accidents and illnesses such as cancer, hip dysplasia, glaucoma, parvovirus, and others and medicine and surgery.
Data Bridge Market Research analyses that the pet insurance market which was USD 6.2 billion in 2021, would rocket up to USD 26.66 billion by 2029, and is expected to undergo a CAGR of 9.80% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Global Pet Insurance Market Scope
The pet insurance market is segmented on the basis of policy type, animal type and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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Pet Insurance Market Regional Analysis/Insights
The pet insurance market is analysed and market size insights and trends are provided by country, policy type, animal type and end-user as referenced above.
The countries covered in the pet insurance market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Competitive Landscape and Pet Insurance Market Share Analysis
The pet insurance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to pet insurance market.
Some of the major players operating in the pet insurance market are:
Nationwide Building Society (U.S)
Pethealth Inc. (U.S)
Embrace Pet Insurance Agency LLC (U.S)
United States Fire Insurance Company (U.S)
Petplan Ltd. (U.K)
Hartville Group, Inc. (U.S)
Petfirst Healthcare LLC (U.S)
Anicom Holdings Inc. (Japan)
ipet Insurance (Japan)
The Oriental Insurance Company Ltd. (India)
Figo Pet Insurance, LLC (U.S)
Direct Line (U.K)
Animal Friends Insurance Services Limited (U.K)
Browse in-depth Research Report on the pet insurance market:- https://www.databridgemarketresearch.com/reports/global-pet-insurance-market
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