Global Pet Insurance Market Size, Share, Opportunities, And Trends By Animal Type (Dog, Cat, Others), By Policy Type (Lifetime Cover (Illness Cover, Accident Cover), Non-Lifetime Cover (Illness Cover, Accident Cover)), And By Geography - Forecasts From 2025 To 2030

Pet Insurance Market Size:

The Global Pet Insurance Market is expected to grow from USD 8.544 billion in 2025 to USD 17.192 billion in 2030, at a CAGR of 15.01%.

Pet Insurance Market Trends:

Pet insurance is a protection policy that mostly covers veterinary healthcare for a person’s sick or wounded pet. Insurance companies may compensate for a part or all of the cost of the pet’s healthcare treatment, depending on the policy. Some policies also cover costs if the pet gets stolen or lost, or even dies. 

The global pet insurance market is likely to increase in the coming years, owing to increasing veterinary healthcare prices. Europe currently holds the largest market share in the pet insurance industry. Sweden currently holds the largest market share in Europe, with almost 90% of pets having reported pet insurance coverage.

However, North America has been regarded as the fastest-growing market in recent years, with rapid advancements in the pet insurance market. 

Pet Insurance Market Growth Factors:

• An increase in veterinary healthcare costs

With the increasing adoption and purchase of pet animals, the veterinary healthcare industry has also become substantially more expensive. Knee replacements, sophisticated allergy testing, cancer treatments, and chiropractic therapy, which were previously exclusively available to humans, are now available to dogs and cats. According to the American Pet Products Association's (APPA) annual state of the industry report, pet expenditure in the United States hit US$103.6 billion in 2020, up by 6.7% from the previous year. Of that amount, US$ 31.4 billion was used for veterinary healthcare, which accounted for an increase of about 7.2% from the previous year. With the increasing cost of veterinary healthcare, people have started to understand the significance of pet insurance. This is consequently expected to drive up the demand for pet insurance.

Moreover, pet owners have seen a significant increase in instances of dog theft. According to information released under the Freedom of Information Act by Direct Line Pet Insurance, thefts have increased by 13%, totaling 2,670 instances in 2021 in the UK. This has been recorded as the highest number of thefts in the last seven years. Government agencies have tried releasing guidelines to safeguard pets, but have been unsuccessful. The best option that pet owners have to safeguard their pets is to get theft or straying insurance coverage that would policy the cost of the loss of a pet.  Increases in pet theft are expected to drive up the pet insurance market as well.

Pet Insurance Market Restrains:

• Increasing policy prices

Pet insurance prices have been increasing rapidly over the past few years. Veterinary treatments have advanced to the point that veterinarians can now diagnose and treat pet ailments with much more accuracy than ever before. However, these treatments come at a price, and they will unavoidably affect pet insurance premiums. Moreover, some insurance providers are a lot more careful about their financial decisions and want to generate as much revenue as possible. Some of them are more active in raising their rates than others, and they are willing to risk losing clients as a result.

Furthermore, even if a pet is currently in perfect condition and has never filed a claim, the pet’s insurance premiums may rise. As animals grow older, the likelihood of them being ill increases, raising the cost of insurance. Since pets live for a shorter amount of time on average than humans, it may seem that they are afflicted with more ailments and succumb to them sooner. 

Market Segments

• By Animal Type
  • Dog
  • Cat
  • Others
• By Policy Type
  • Lifetime Cover
  • Non-Lifetime Cover
  • Accident-Only Cover
• By Coverage Scope
  • Comprehensive (Illness + Accident)
  • Illness-Only
  • Accident-Only
  • Preventive Care Only
• By End-User
  • Individual Pet Owners
  • Professional Breeders and Kennels
  • Veterinary Clinics
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    •  Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • South Africa
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others

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1. EXECUTIVE SUMMARY

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations

3.7. Strategic Recommendations

4. TECHNOLOGICAL OUTLOOK

5. PET INSURANCE MARKET BY ANIMAL TYPE

5.1. Introduction

5.2. Dog

5.3. Cat

5.4. Others

6. PET INSURANCE MARKET BY POLICY TYPE

6.1. Introduction

6.2. Lifetime Cover

6.3. Non-Lifetime Cover

6.4. Accident-Only Cover

7. PET INSURANCE MARKET BY COVERAGE SCOPE

7.1. Introduction

7.2. Comprehensive (Illness + Accident)

7.3. Illness-Only

7.4. Accident-Only

7.5. Preventive Care Only

8. PET INSURANCE MARKET BY END-USER

8.1. Introduction

8.2. Individual Pet Owners

8.3. Professional Breeders and Kennels

8.4. Veterinary Clinics

9. PET INSURANCE MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. USA

9.2.2. Canada

9.2.3. Mexico

9.3. South America

9.3.1. Brazil

9.3.2. Argentina

9.3.3. Others

9.4. Europe

9.4.1. Germany

9.4.2. France

9.4.3. United Kingdom

9.4.4. Spain

9.4.5. Others

9.5. Middle East and Africa

9.5.1. Saudi Arabia

9.5.2. UAE

9.5.3. Others

9.6. Asia Pacific

9.6.1. China

9.6.2. India

9.6.3. Japan

9.6.4. South Korea

9.6.5. Indonesia

9.6.6. Thailand

9.6.7. Others

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. Nationwide Mutual Insurance Company

11.2. MetLife Services and Solutions, LLC

11.3. Healthy Paws Pet Insurance, LLC

11.4. Crum & Foster Pet Insurance Group

11.5. Trupanion, Inc.

11.6. Pet Plan Limited

11.7. Embrace Pet Insurance Agency, LLC

11.8. Animal Friends Insurance Services Limited

11.9. Petsecure Pet Health Insurance

11.10. 24PetWatch Pet Insurance

12. APPENDIX

12.1. Currency

12.2. Assumptions

12.3. Base and Forecast Years Timeline

12.4. Key Benefits for the Stakeholders

12.5. Research Methodology

12.6. Abbreviations

Nationwide Mutual Insurance Company

MetLife Services and Solutions, LLC

Healthy Paws Pet Insurance, LLC.

Crum & Foster Pet Insurance Group

Trupanion, Inc.

Pet Plan Limited

Embrace Pet Insurance Agency, LLC

Animal Friends Insurance Services Limited

Petsecure Pet Health Insurance

24PetWatch Pet Insurance