Pet Insurance Market size was valued at US$ 4.52 Bn. in 2020 and the total revenue is expected to grow at 16.5 % through 2021 to 2027, reaching nearly US$ 13.16 Bn.
Pet Insurance Market Overview:
This report discusses the market growth drivers and obstacles for the manufacturer, as well as a review of the significant trends in the market's business strategies, procedures, and financially sound and expand approach. Customization is also possible to meet the needs of individual customers, as well as a complete understanding of market potential. The Pet Insurance Market provides a comprehensive overview of the market's competitive landscape and main merchants. This report can assist with structural planning in light of current industry conditions.
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Market Scope:
According to the forecast period 2021-2027, the Pet Insurance market is expected to grow at a steady rate of xx % between 2021 and 2027. The market is estimated to increase in the forecast period of 2021, as key industry players continue to complete projects.
This report includes a value-based analysis and forecast for the Pet Insurance market. This study and analysis of market drivers, constraints, and opportunities impacting the growth of the Pet Insurance Market is included in this report. Pet Insurance Market segmentation has been provided based on type, source, end-user, and geography (country-wise). The scope of the study included a strategic analysis of the Pet Insurance market in terms of individual growth trends, future prospects, and the contributions of key sub-market stakeholders. Pet Insurance Global market analysis and forecasts for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-by-country segmentation. The profiles of main industry participants, as well as their strategic perspectives, market positioning, and analyses of core competencies, are included. The top companies participating in the Pet Insurance Market are also profiled in terms of their competitive advancements, investments, strategic expansion, and competitive landscape.
Pet Insurance Market Segmentation:
Based on the Policy Type, the global Pet Insurance market is sub-segmented into Accident & illness, Accident only and Others. The Accident & illness segment held the largest market share of xx% with such revenue of US$ 1.8 billion in 2020. High veterinary treatment and diagnostic expenses, the rise of the companion animal population, and increased knowledge of pet insurance are the main drivers of the segment. Lifetime insurance is a complete plan that covers the lives of animals for the rest of their lives. Accident and illness, surgery, and hospitalisation are all covered under the contract coverage. For young animals, this is the most advantageous policy.
Also, the Accident only segment held the 2nd largest market share of xx% in 2020. The segment's main drivers include an increase in animal health issues and expensive treatment expenses. Accident-only coverage is only available for animals that are not qualified for lifetime or non-lifetime coverage. In addition, an accident-only coverage can cover older animals with pre-existing conditions.
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Pet Insurance Market Key Players:
• Warburg Pincus
• Nationwide
• Trupanion
• Hartville Group
• Embrace
• Royal &Sun Alliance (RSA)
• Direct Line Group
• Agria
• Anicom Holding
• ipet Insurance
• Japan Animal Club
• Floracopeia Inc.
• UniKode S.A.
• Robertet Groupe
• Lluch Essence Sl
• International Fragrance and Flavor Inc.
• Fleurchem Inc
• PetFirst Healthcare LLC
• Petsecure
• Petplan Limited
Regional Analysis:
The Pet Insurance market is organized into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America.
COVID-19 Impact Analysis on Pet Insurance Market:
The globe has reached the end of the COVID-19 pandemic's recovery phase. In light of the current economic scenario, Maximize Industry Research has launched the Pet Insurance Market Status, Trends, and COVID-19 Impact Report 2021, which provides a comprehensive look at the Pet Insurance market.
Key Questions answered in the Pet Insurance Market Report are:
- Which product segment grabbed the largest share in the Pet Insurance market?
- How is the competitive scenario of the Pet Insurance market?
- Which are the key factors aiding the Pet Insurance market growth?
- Which region holds the maximum share in the Pet Insurance market?
- What will be the CAGR of the Pet Insurance market during the forecast period?
- Which application segment emerged as the leading segment in the Pet Insurance market
- Which are the prominent players in the Pet Insurance market?
- What key trends are likely to emerge in the Pet Insurance market in the coming years?
- What will be the Pet Insurance market size by 2027?
- Which company held the largest share in the Pet Insurance market?
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