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ペット保険市場レポート：証券別、動物別、プロバイダー別、地域別、2024年～2032年

Pet Insurance Market Report by Policy (Illnesses and Accidents, Chronic Conditions, and Others), Animal (Dogs, Cats, and Others), Provider (Public, Private), and Region 2024-2032
出版日: | 発行: IMARC | ページ情報: 英文 139 Pages | 納期: 2～3営業日

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価格
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ペット保険市場レポート：証券別、動物別、プロバイダー別、地域別、2024年～2032年
出版日: 2024年09月10日
発行: IMARC
ページ情報: 英文 139 Pages
納期: 2～3営業日
  • 全表示
  • 概要
  • 図表
  • 目次
概要

世界のペット保険市場の市場規模は2023年に81億米ドルに達しました。今後、IMARC Groupは、2024年から2032年にかけての成長率（CAGR）は10.9％を示し、2032年には208億米ドルに達すると予測しています。同市場は、動物医療費に対する意識の高まり、ペット飼育率の上昇、包括的な補償に対する需要の高まり、ペット向け医療の進歩、ペットの健康への関心の高まりなどを背景に、着実な成長を遂げています。

ペット保険市場分析：

  • 主な市場促進要因：主な市場牽引要因：動物医療費の上昇、包括的な補償に対する需要の高まり、ペット向け医療の進歩、ペットの健康への関心の高まりが市場成長を牽引する主な要因です。
  • 主な市場動向：カスタマイズ保険へのシフトの高まり、保険会社と動物医療サービスプロバイダーとの提携の増加、ウェルネス・プログラムの保険への組み込みなどが、市場で見られる主要動向の一部です。
  • 地域別動向：可処分所得の高さ、ペット個体数の増加、包括的な保険オプションの利用可能性から、北米がペット保険の主要地域市場となっています。
  • 競合情勢：ペット保険業界の主な市場プレーヤーには、Agria Pet Insurance Ltd.、Anicom Holdings Inc.、Direct Line Insurance Group plc、dotsure.co.za、Embrace Pet Insurance Agency LLC、Figo Pet Insurance LLC、PTZ Insurance Agency, Ltd.、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.、Trupanionなどがあります。
  • 課題と機会：課題としては、規制の複雑さや償還構造の多様性などが挙げられるが、機会としては、未開拓の市場、商品イノベーションの可能性、業務効率向上のためのデジタル・ソリューションの統合などが挙げられます。

ペット保険市場動向：

獣医療コストの上昇

市場を牽引する主な要因の1つは、一貫した大幅な獣医療費の増加です。米国動物虐待防止協会（ASPCA）の調査結果によると、ペットを飼い始めた最初の1年間で、ペットの親は3,221ドルから1,904ドルを費やします。例えば、犬や猫の定期的な医療費は、ワクチンや健康診断などを含めて、年間それぞれ約225ドルと160ドルです。また、心臓病やノミ・ダニ予防などの予防薬には、犬で年間約185ドル、猫で年間約140ドルかかります。ペット保険は、獣医の診察費用を相殺する効果的な方法です。

獣医学の進歩により、ペットに対する治療がより高度で効果的なものになるにつれて、それに伴う費用もエスカレートしています。ペットの飼い主は、動物たちの健康に投資する意欲が高まっており、保険は経済的なセーフティネットとして機能し、法外な獣医療費に負担をかけることなく、最善の治療を受けられるようにしています。Forbes ADVISORの記事によると、米国における傷害・疾病ペット保険の月平均保険料は、犬で月約53ドル、猫で月約32ドルです。これは、世界中のペット保険市場統計をさらに裏付けています。2023年にThe Times of Indiaに掲載された記事によると、特にパンデミック後にペットの所有が増加し、インドでは月平均4500インドルピーから5000インドルピーを費やしています。

ペット飼育の増加と人間化の動向

ペット飼育の増加は、ペットの人間化という一般的な傾向と相まって、市場に大きな影響を与えています。USAトゥデイの記事によると、米国で犬を飼っている1,000人を対象にした最近の調査で、犬を飼うのにかかる年間平均費用は月376ドル、年間4,512ドルだといいます。ワクチンや避妊・去勢手術など、新しい犬の初期医療費は50ドルから500ドルかかります。ペットを家に迎え入れる人が増えるにつれ、動物に対する感情的な愛着は強まる。ペットの飼い主は、自分自身の健康ニーズへの取り組み方と同じように、毛皮で覆われた仲間に最善のヘルスケアを提供する方法をますます求めるようになっています。Forbes ADVISORの記事によると、ペットを飼っている家庭は9,050万世帯で、これは米国の家庭の70％に相当し、犬を飼っている家庭の方が猫を飼っている家庭よりも多いです。ペットを飼う米国の世帯数は、2010年の7,300万世帯から2022年には8,700万世帯に増加しており、ペット保険市場の見通しはさらに明るくなっています。

著しい技術の進歩とカスタマイズ

技術的進歩の高まりは、市場の主要な成長要因として作用しています。保険会社はテクノロジーを活用してプロセスを合理化し、ひいては顧客体験を向上させ、よりパーソナライズされたカスタマイズ可能な保障オプションを提供しています。デジタル・プラットフォームはシームレスな保険金請求を可能にし、データ分析は保険会社が顧客のニーズや嗜好をよりよく理解するのに役立っています。保険プランを個々のペットの健康状態に合わせてカスタマイズしたり、ウェルネス・プログラムを補償の一部に組み込んだりできるようになったことは、飼い主の期待の進化に適応しようとする業界の姿勢を浮き彫りにしています。例えば、2024年4月8日、HDFC ERGO損害保険は、「paws and claws」と呼ばれるペットの犬と猫のための総合保険を発売しました。ペットの医療ニーズによる経済的負担に直面している飼い主にセーフティネットを提供するために作られたこの保険は、病気、怪我、手術を補償します。これはさらにペット保険市場の収益を促進すると予想されます。

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査の目的
  • ステークホルダー
  • データソース
    • 一次情報
    • 二次情報
  • 市場推定
    • ボトムアップアプローチ
    • トップダウンアプローチ
  • 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

  • 概要
  • 主要業界動向

第5章 世界のペット保険市場

  • 市場概要
  • 市場実績
  • COVID-19の影響
  • 市場予測

第6章 市場内訳：証券別

  • 病気と事故
    • 市場動向
    • 市場予測
  • 慢性疾患
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第7章 市場内訳：動物別

  • 犬
    • 市場動向
    • 市場予測
  • 猫
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第8章 市場内訳：プロバイダー別

  • 公共
    • 市場動向
    • 市場予測
  • 民間
    • 市場動向
    • 市場予測

第9章 市場内訳：地域別

  • 北米
    • 米国
    • カナダ
  • アジア太平洋地域
    • 中国
    • 日本
    • インド
    • 韓国
    • オーストラリア
    • インドネシア
    • その他
  • 欧州
    • ドイツ
    • フランス
    • 英国
    • イタリア
    • スペイン
    • ロシア
    • その他
  • ラテンアメリカ
    • ブラジル
    • メキシコ
    • その他
  • 中東・アフリカ
    • 市場動向
    • 市場内訳：国別
    • 市場予測

第10章 SWOT分析

  • 概要
  • 強み
  • 弱み
  • 機会
  • 脅威

第11章 バリューチェーン分析

第12章 ポーターのファイブフォース分析

  • 概要
  • 買い手の交渉力
  • 供給企業の交渉力
  • 競合の程度
  • 新規参入業者の脅威
  • 代替品の脅威

第13章 価格分析

第14章 競合情勢

  • 市場構造
  • 主要企業
  • 主要企業のプロファイル
    • Agria Pet Insurance Ltd.
    • Anicom Holdings Inc.
    • Direct Line Insurance Group plc
    • dotsure.co.za
    • Embrace Pet Insurance Agency LLC
    • Figo Pet Insurance LLC
    • PTZ Insurance Agency, Ltd.
    • 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.
    • Trupanion
図表

List of Figures

  • Figure 1: Global: Pet Insurance Market: Major Drivers and Challenges
  • Figure 2: Global: Pet Insurance Market: Sales Value (in Billion US$), 2018-2023
  • Figure 3: Global: Pet Insurance Market Forecast: Sales Value (in Billion US$), 2024-2032
  • Figure 4: Global: Pet Insurance Market: Breakup by Policy (in %), 2023
  • Figure 5: Global: Pet Insurance Market: Breakup by Animal (in %), 2023
  • Figure 6: Global: Pet Insurance Market: Breakup by Provider (in %), 2023
  • Figure 7: Global: Pet Insurance Market: Breakup by Region (in %), 2023
  • Figure 8: Global: Pet Insurance (Illnesses and Accidents) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 9: Global: Pet Insurance (Illnesses and Accidents) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 10: Global: Pet Insurance (Chronic Conditions) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 11: Global: Pet Insurance (Chronic Conditions) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 12: Global: Pet Insurance (Other Policies) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 13: Global: Pet Insurance (Other Policies) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 14: Global: Pet Insurance (Dog) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 15: Global: Pet Insurance (Dog) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 16: Global: Pet Insurance (Cat) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 17: Global: Pet Insurance (Cat) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 18: Global: Pet Insurance (Other Animals) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 19: Global: Pet Insurance (Other Animals) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 20: Global: Pet Insurance (Public) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 21: Global: Pet Insurance (Public) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 22: Global: Pet Insurance (Private) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 23: Global: Pet Insurance (Private) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 24: North America: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 25: North America: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 26: United States: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 27: United States: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 28: Canada: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 29: Canada: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 30: Asia-Pacific: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 31: Asia-Pacific: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 32: China: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 33: China: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 34: Japan: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 35: Japan: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 36: India: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 37: India: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 38: South Korea: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 39: South Korea: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 40: Australia: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 41: Australia: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 42: Indonesia: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 43: Indonesia: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 44: Others: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 45: Others: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 46: Europe: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 47: Europe: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 48: Germany: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 49: Germany: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 50: France: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 51: France: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 52: United Kingdom: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 53: United Kingdom: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 54: Italy: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 55: Italy: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 56: Spain: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 57: Spain: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 58: Russia: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 59: Russia: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 60: Others: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 61: Others: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 62: Latin America: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 63: Latin America: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 64: Brazil: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 65: Brazil: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 66: Mexico: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 67: Mexico: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 68: Others: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 69: Others: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 70: Middle East and Africa: Pet Insurance Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 71: Middle East and Africa: Pet Insurance Market: Breakup by Country (in %), 2023
  • Figure 72: Middle East and Africa: Pet Insurance Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 73: Global: Pet Insurance Industry: SWOT Analysis
  • Figure 74: Global: Pet Insurance Industry: Value Chain Analysis
  • Figure 75: Global: Pet Insurance Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Pet Insurance Market: Key Industry Highlights, 2023 and 2032
  • Table 2: Global: Pet Insurance Market Forecast: Breakup by Policy (in Million US$), 2024-2032
  • Table 3: Global: Pet Insurance Market Forecast: Breakup by Animal (in Million US$), 2024-2032
  • Table 4: Global: Pet Insurance Market Forecast: Breakup by Provider (in Million US$), 2024-2032
  • Table 5: Global: Pet Insurance Market Forecast: Breakup by Region (in Million US$), 2024-2032
  • Table 6: Global: Pet Insurance Market: Competitive Structure
  • Table 7: Global: Pet Insurance Market: Key Players
目次
Product Code: SR112024A4792

The global pet insurance market size reached US$ 8.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.8 Billion by 2032, exhibiting a growth rate (CAGR) of 10.9% during 2024-2032. The market is experiencing steady growth driven by increased awareness of veterinary care costs, rising pet ownership, growing demand for comprehensive coverage, advancements in medical treatments for pets, and a heightened focus on pet well-being.

Pet Insurance Market Analysis:

  • Major Market Drivers: A rise in veterinary costs, rising demand for comprehensive coverage, advancements in medical treatments for pets, and a heightened focus on pet well-being represent the key factors driving the market growth.
  • Key Market Trends: The rising shift toward customized policies, increased partnerships between insurers and veterinary service providers, and the incorporation of wellness programs into insurance offerings are some of the key trends being witnessed in the market.
  • Geographical Trends: North America represents the leading regional market for pet insurance policies on account of high disposable incomes, growing pet populations, and the availability of comprehensive insurance options.
  • Competitive Landscape: Some of the major market players in the pet insurance industry include Agria Pet Insurance Ltd., Anicom Holdings Inc., Direct Line Insurance Group plc, dotsure.co.za, Embrace Pet Insurance Agency LLC, Figo Pet Insurance LLC, PTZ Insurance Agency, Ltd., 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., Trupanion, among many others.
  • Challenges and Opportunities: Challenges include regulatory complexities and varying reimbursement structures, while opportunities lie in untapped markets, the potential for product innovation, and the integration of digital solutions to improve operational efficiency.

Pet Insurance Market Trends:

Rising veterinary costs

One of the primary factors driving the market is the consistent and substantial increase in veterinary costs. Based on findings by the American Society for the Prevention of Cruelty to Animals (ASPCA), in the first year of owning a pet, pet parents spend anywhere between $3,221 to $1,904. For instance, routine medical costs for dogs and cats are around $225 and $160 per year, respectively, including vaccines, wellness visits, etc. Also, Preventative medication like heartworm and flea/tick prevention costs around $185 per year for dogs and $140 per year for cats. Pet insurance can be an effective way to help offset vet visit costs.

As advancements in veterinary medicine led to more sophisticated and effective treatments for pets, the associated expenses have also escalated. Pet owners are increasingly willing to invest in the well-being of their animals, and insurance serves as a financial safety net, ensuring that they can afford the best possible care without being burdened by exorbitant veterinary bills. According to an article in Forbes ADVISOR, the average monthly premium for accident and illness pet insurance in the US is about $53 for month for dogs, and about $32 per month for cats. This is further supporting the pet insurance market statistics across the globe. According to an article published in 2023 in The Times of India, there is an increase in the pet ownership especially after the pandemic, with an average spending of INR 4500-INR 5000 per month in India.

Growing pet ownership and humanization trend

The rise in pet ownership, coupled with the prevailing trend of humanizing pets, has significantly influenced the market. According to an article in USA Today, the average annual cost of owning a dog is $376 a month or $ 4,512 a year, as per a recent survey of 1,000 US dog owners. The initial medical costs for a new dog, such as for vaccines and spaying and neutering, can run from dollar fifty to dollar 500. As more individuals' welcome pets into their homes, the emotional attachment to these animals intensifies. Pet owners increasingly seek ways to provide the best possible healthcare for their furry companions, mirroring the way they approach their own health needs. According to an article in Forbes ADVISOR, 90.5 million homes own a pet, or 70% of U.S. households, with more households owning dogs than cats. The number of US households that own pets has increased from 73 million in 2010 to 87 million in 2022 which is further creating a positive pet insurance market outlook.

Significant Technological Advancements and Customization

The rising technological advancement is acting as a major growth-inducing factor in the market. Insurers are leveraging technology to streamline processes, and hence customer experiences, and provide more personalized and customizable coverage options. Digital platforms enable seamless claims processing, and data analytics help insurers better understand customer needs and preferences. The ability to tailor insurance plans to individual pets' health profiles and the inclusion of wellness programs as part of coverage highlights the industry's commitment to adapting to the evolving expectations of pet owners. For instance, on 8th April 2024, HDFC ERGO General Insurance launched a comprehensive insurance policy for pet dogs and cats called paws and claws. Crafted to offer a safety net for pet owners facing the financial burden of their pets' medical needs, this policy offers coverage for illness, injuries, and surgeries. This is further expected to fuel the pet insurance market revenue.

Pet Insurance Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on policy, animal, and provider.

Breakup by Policy:

  • Illnesses and Accidents
  • Chronic Conditions
  • Others

Illnesses and accidents account for the majority of the pet insurance market share

The report has provided a detailed breakup and analysis of the market based on the policy. This includes illnesses and accidents, chronic conditions, and others. According to the report, illnesses and accidents represented the largest segment.

Illness and accident policies in the pet insurance market provide comprehensive coverage for a variety of medical expenses associated with unexpected health issues and mishaps. These policies are designed to alleviate the financial burden on pet owners in the event of sudden illnesses or accidents that require medical attention, surgeries, hospital stays, or emergency veterinary care. By providing financial protection against high costs related to diagnostic tests, treatments, and medications, these policies ensure pets receive the necessary care without compromising due to financial constraints.

Breakup by Animal:

  • Dog
  • Cat
  • Others

Dog holds the largest share of the industry

A detailed breakup and analysis of the market based on the animal have also been provided in the report. This includes dog, cat, and others. According to the report, dog accounted for the largest market share.

The dog segment dominates the industry, holding the largest market share. Dog owners, recognizing the increasing costs of veterinary care, are increasingly turning to insurance to ensure comprehensive coverage for their canine companions which is driving the pet insurance market growth. With a wide range of breeds, sizes, and potential health issues, dog insurance covers everything from routine vaccinations to emergency surgeries. The popularity of dog insurance can be attributed to the deep emotional connection people have with their dogs, fostering a commitment to providing the best possible healthcare. Also, dogs are gaining significant preference among pet owners. For instance, as according to an article published in The Economist, in 2023, India had 19.4 million pet dogs, which increased to 31 million in 2023.

Breakup by Provider:

  • Public
  • Private

Public represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the provider. This includes public and private. According to the report, public represented the largest segment.

The public sector is the leading segment in the market, representing a significant portion of the industry. Publicly traded companies in this insurance sector often have extensive resources, broad market reach, and the ability to access capital markets for funding. Public providers are well-positioned to invest in technological advancements, marketing strategies, and customer outreach initiatives. Their prominence in the market is driven by factors such as brand recognition, financial stability, and the ability to implement large-scale innovations. Publicly traded pet insurance companies play a pivotal role in shaping industry trends, influencing market dynamics, and contributing to the overall growth and development of the sector.

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

North America leads the market, accounting for the largest pet insurance market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

North America emerges as the dominant region in the market, holding the largest market share. The region's robust pet industry, increased awareness of pet health, and a cultural inclination towards viewing pets as family members contribute to the high demand for this insurance which is propelling the pet insurance market demand. For instance, on 8th May 2023, the Humane Society of the United States launched a new campaign called More Than a Pet, with the help of campaign partners Small, Ollie, Motel 6, TQL, and others. The mission of the camp is to raise awareness and provide solutions to increase access and keep families and their pets together, happy, and healthy. Well-established economies in the United States and Canada facilitate greater affordability and accessibility to insurance products. The pet humanization trend, coupled with a high level of pet ownership, drives the need for comprehensive coverage, making North America a key player in shaping the global landscape.

Leading Key Players in the Pet Insurance Industry:

  • The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include Agria Pet Insurance Ltd., Anicom Holdings Inc., Direct Line Insurance Group plc, dotsure.co.za, Embrace Pet Insurance Agency LLC, Figo Pet Insurance LLC, PTZ Insurance Agency, Ltd., 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., Trupanion, etc.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

  • The key players in the market are driving growth through strategic initiatives that focus on innovation, customer-centric offerings, and market expansion. These companies are investing in technological advancements to enhance user experiences, employing data analytics for more personalized coverage, and streamlining processes for efficient claims management. Strategic partnerships with veterinary service providers are becoming common, enabling insurers to offer comprehensive and integrated solutions. The competitive landscape is characterized by mergers and acquisitions, fostering consolidation and resource-sharing for increased market penetration. Moreover, leading players are continuously diversifying their product portfolios, introducing novel coverage options, and incorporating wellness programs into their offerings.

Latest News:

  • November 21, 2023: Direct Line Insurance Group plc received an IMI (Institute of Motor Industry) accreditation, giving its qualified trainers the ability to design and deliver certified training programmes in-house.
  • March 29, 2023: Embrace pet insurance agency LLC launched Apollo, an AI platform designed to automate routine claim processes such as document handling, data extraction and claim adjudication.
  • May 2021: Healthy Paws Pet Insurance, LLC was rated the best pet insurance company in 2021 by U.S. News & World Report.

Key Questions Answered in This Report

  • 1. How big is the global pet insurance market?
  • 2. What is the expected growth rate of the global pet insurance market during 2024-2032?
  • 3. What are the key factors driving the global pet insurance market?
  • 4. What has been the impact of COVID-19 on the global pet insurance market?
  • 5. What is the breakup of the global pet insurance market based on the policy?
  • 6. What is the breakup of the global pet insurance market based on the animal?
  • 7. What is the breakup of the global pet insurance market based on the provider?
  • 8. What are the key regions in the global pet insurance market?
  • 9. Who are the key players/companies in the global pet insurance market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Pet Insurance Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Policy

  • 6.1 Illnesses and Accidents
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Chronic Conditions
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Others
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast

7 Market Breakup by Animal

  • 7.1 Dog
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Cat
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Others
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast

8 Market Breakup by Provider

  • 8.1 Public
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Private
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Agria Pet Insurance Ltd.
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
    • 14.3.2 Anicom Holdings Inc.
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
      • 14.3.2.3 Financials
    • 14.3.3 Direct Line Insurance Group plc
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
    • 14.3.4 dotsure.co.za
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
    • 14.3.5 Embrace Pet Insurance Agency LLC
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
    • 14.3.6 Figo Pet Insurance LLC
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
    • 14.3.7 PTZ Insurance Agency, Ltd.
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
    • 14.3.8 Healthy Paws Pet Insurance LLC
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
    • 14.3.9 Medibank Private Limited
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
      • 14.3.9.3 Financials
      • 14.3.9.4 SWOT Analysis
    • 14.3.10 MetLife Services and Solutions LLC
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
      • 14.3.10.3 Financials
      • 14.3.10.4 SWOT Analysis
    • 14.3.11 Nationwide Mutual Insurance Company
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio
      • 14.3.11.3 SWOT Analysis
    • 14.3.12 Pethealth Inc.
      • 14.3.12.1 Company Overview
      • 14.3.12.2 Product Portfolio
    • 14.3.13 Petplan (Allianz Insurance plc)
      • 14.3.13.1 Company Overview
      • 14.3.13.2 Product Portfolio
    • 14.3.14 The Oriental Insurance Company Ltd.
      • 14.3.14.1 Company Overview
      • 14.3.14.2 Product Portfolio
    • 14.3.15 Trupanion
      • 14.3.15.1 Company Overview
      • 14.3.15.2 Product Portfolio
      • 14.3.15.3 Financials