Pet insurance is a form of insurance that is often overlooked by pet owners. It is a healthcare policy for pet that will provide reimbursement for specific health expenses that are covered by the policy. Pet insurance is a form of insurance that pays, partly or in total, for veterinary treatment of the insured person's ill or injured pet.

Market Dynamics:

Growing pet population, increase in adoption of pet insurance, growing awareness regarding pet insurance, rise in prevalence of several diseases among pets, rise in awareness regarding veterinary health, and improving veterinary healthcare infrastructure are major factors expected to propel the growth of the global pet insurance market.

For instance, In April 2021, PTZ Insurance Agency Ltd. and Home Again partnered to provide pet health insurance to pet parents under the Pets Plus Us brand. A natural fit, the partnership leverages both organizations' strengths, and promotes their shared vision of responsible pet ownership and animal welfare focused on pet health and safety.  

Key features of the study:

• This report provides in-depth analysis of the global pet insurance market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global pet insurance market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Medibank Private Limited, Petplan, Oneplan Insurance, Dotsure.co.za (Hollard), Healthy Paws Pet Insurance LLC, Figo Pet Insurance LLC, Embrace Pet Insurance Agency LLC, Anicom Holdings Inc., Oriental Insurance Company Ltd., MetLife Services and Solutions LLC (PetFirst Healthcare LLC), and Crum & Forster Pet Insurance Group (Hartville Pet Insurance Group), among others.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global pet insurance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global pet insurance market.

Detailed Segmentation:

• Global Pet Insurance Market, By Policy:
  • Illnesses and Accidents
  • Chronic Conditions
  • Other Policies
• Global Pet Insurance Market, By Animal:
  • Dogs
  • Cats
  • Other Animals
• Global Pet Insurance Market, By Provider:
  • Public
  • Private
• Global Pet Insurance Market, By Geography:
  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa
  • South America
• Company Profiles:
  • Medibank Private Limited
  • Petplan
  • Oneplan Insurance
  • Dotsure.co.za (Hollard)
  • Healthy Paws Pet Insurance LLC
  • Figo Pet Insurance LLC
  • Embrace Pet Insurance Agency LLC
  • Anicom Holdings Inc.
  • Oriental Insurance Company Ltd.
  • MetLife Services and Solutions LLC (PetFirst Healthcare LLC)
  • Crum & Forster Pet Insurance Group (Hartville Pet Insurance Group)