Global Pet Insurance Market Size research report 2021 offers in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market.
This study provides information about the sales and revenue during the historic and forecasted period of (2021 to 2028). Understanding the segments helps in identifying the importance of different factors that aid market growth. Estimations about the CAGR value for specific forecast period, market drivers, market restraints, and competitive strategies are assessed in this Pet Insurance Market report.
The global pet insurance market size stood at USD 6.05 billion in 2018 and is projected to reach USD 11.25 billion by 2026, exhibiting a CAGR of 8.0% during the forecast period.
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Important Features that are under Offering and Key Highlights of the Market Report:
- Detailed overview of the global market share
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Pet Insurance Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
Drivers & Restraints
Rising pet adoption across various countries is one of the significant factor boosting product demand and thereby augmenting market growth. For instance, as per The American Society for the Prevention of Cruelty to Animals (ASPCA), it is estimated that in 2018, 78 million dogs and 85.8 million cats were owned in the U.S. Moreover, rising pet insurance penetration across various countries in Europe is another considerable factor boosting product demand. For instance, the U.K. was one of the top countries with the highest pet insurance penetration rate of 25% in 2017. Also, Sweden was the first country to write the first animal insurance policy in 1924 which focused on horses and livestock at the time. Furthermore, the rising prevalence of zoonotic diseases among companion animals is also one of the major reasons influencing people to adopt pet insurance, thus contributing to expansion of the market.
Key players covered in the global Pet Insurance Market research report:
- Nationwide Mutual Insurance Company
- Healthy Paws Pet Insurance, LLC.
- Embrace Pet Insurance Agency, LLC
- Figo Pet Insurance LLC.
- Anicom Holdings
- Agria Pet Insurance Ltd
- Pets Best Insurance Services, LLC.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Major Table of Contents for Pet Insurance Market Research Report:
- Executive Summary
- Market Dynamics
- Key Market Growth Insights
- Global Market Analysis, Insights and Forecast, 2017-2028
- North America Market Analysis, Insights and Forecast, 2017-2028
- Europe Market Analysis, Insights and Forecast, 2017-2028
- Asia Pacific Market Analysis, Insights and Forecast, 2017-2028
- The Middle East and Africa Market Analysis, Insights and Forecast, 2017-2028
- Latin America Market Analysis, Insights and Forecast, 2017-2028
- Competitive Landscape
- Global Pet Insurance Market Revenue Growth, Industry Share Analysis, By Key Players, 2021
- Company Profiles
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