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Pet Insurance Market 2023-2028 | Industry Growth, Size, Share and Report Analysis

Pet Insurance Market,Pet Insurance Market Analysis . 

According to the latest report by IMARC Group, titled, “Pet Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global pet insurance market size reached US$ 7.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.2 Billion by 2028, exhibiting a growth rate (CAGR) of 12.1% during 2023-2028.

Pet insurance refers to a healthcare policy that covers the expenses of veterinary clinic bills. It also helps cover the cost of unexpected medical expenses, chronic illness treatments, and severe injuries caused by accidents. It reduces the financial burden for damages or injuries to third parties and after-death compensations and facilitates pet care for various hereditary conditions, dental care, and behavioral issues. As it also incorporates additional benefits, such as discounts on pet food and access to veterinary telemedicine services, the demand for pet insurance is rising across the globe.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/pet-insurance-market/requestsample

Pet Insurance Market Trends and Drivers:

The increasing number of nuclear families and rising adoption of pets represent one of the major factors positively influencing the market. In addition, the increasing awareness about the proper maintenance and health of pets, along with the increasing costs of animal healthcare and the growing advancements in animal treatment procedures, are creating a favorable market. Apart from this, the rising number of non-government organizations (NGOs) rescuing animals that are victims of cruelty and abuse and providing shelter, meals, and healthcare to them is contributing to the market growth. Furthermore, key market players are introducing low fees insurance plans and also covering expenses for physical and material damages caused by pets, which is stimulating the market growth worldwide.

Pet Insurance Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

  • Agria Pet Insurance Ltd.
  • Anicom Holdings Inc.
  • Direct Line Insurance Group plc
  • co.za
  • Embrace Pet Insurance Agency LLC
  • Figo Pet Insurance LLC
  • Hartville Group
  • Healthy Paws Pet Insurance LLC
  • Medibank Private Limited
  • MetLife Services and Solutions LLC
  • Nationwide Mutual Insurance Company
  • Pethealth Inc.
  • Petplan (Allianz Insurance plc)
  • The Oriental Insurance Company Ltd.

The report has segmented the market based on policy, animal and provider.

Breakup by Policy:

  • Illnesses and Accidents
  • Chronic Conditions
  • Others

Breakup by Animal:

  • Dog
  • Cat
  • Others

Breakup by Provider:

  • Public
  • Private

Breakup by Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=4792&flag=C

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact us:

IMARC Group
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Address: 134 N 4th St. Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com/
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