Global Pet Insurance Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Animal Type (Dog, Cat, Others), By Policy Type (Lifetime Cover, Non-Lifetime Cover) And By Geography - Forecasts From 2020 To 2025

Published: May 2021 | Report Code:  KSI061613164 | Pages:  135

The global pet insurance market is projected to grow at a CAGR of 4.75% during the forecast period, reaching a total market size of US$80.798 billion in 2025 from US$61.163 billion in 2019. Pet insurance is a healthcare policy for pets. That helps owners to reimburse their pets for certain medical expenses. This protects against the risk of paying high medical care fees. Insurance plans can be a lifesaver in times of sudden accident or illness and affording an injury is expensive. Pet insurance is the best way to save on veterinary costs when the pet gets sick or injured.

The maximum number of pet insurance is paid on a monthly basis and costs a few hundred dollars a year. In pet insurance owners can get reimbursement after paying the vet. They can file a claim with an insurer after paying the vet. Without pet insurance, illness and injury treatments can cost pet owners hundreds or thousands of dollars per incident. Standard pet insurance will cover most accidents and illnesses, but insurance providers do exclude some common things. The pet insurance market is segmented on the basis of animal type and policy type. Policy type is further classified into lifetime cover and Non-lifetime cover with sub-segments been illness cover and accident cover.

Market Drivers

The pet insurance market is rising due to rising of the companion animal population and an increase in awareness related to pet insurance. The industry consists of a lot of large and small companies. These companies are strategizing their business by launching new policies, mergers & acquisitions, regional expansions, and much more to capture a larger market share. Growth in pet ownership is also a reason for the increase in the need for pet insurance. Owners are willing to spend on pet welfare and prevent expensive veterinary bills; increase willingness to adopt additional coverage for a lifetime by pet owners is boosting the market for pet insurance.  Insurers are increasing their efforts to reach customers through agencies and brokers.

By Geography

Regionally the global pet insurance market is classified into North America, South America, Europe, Middle East, and Africa, and the Asia Pacific The report also analyses 16 countries across these regions with complete analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers. Europe has a significant share in the pet insurance market because of the high rate of penetration of pet insurance, costly veterinary care, improved facilities, and aware pet owners in the region. Asia Pacific region to see growth in the forecast period due to increasing disposable income of people, supportive initiatives by government, and raising awareness among pet owners.

Global Pet Insurance Market Scope:
Report Metric Details
 Market size value in 2019  US$61.163 billion
 Market size value in 2025  US$80.798 billion
 Growth Rate  CAGR of 4.75% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Million
 Segments covered  Animal Type, Policy Type, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Nationwide Mutual Insurance Company, PetFirst Healthcare LLC, Healthy Paws Pet   Insurance, LLC., United States Fire Insurance Company, Trupanion, Petplan Limited,   Embrace Pet Insurance Agency, LLC, U K Insurance Limited, Petsecure Pet Health   Insurance, 24PetWatch
 Customization scope  Free report customization with purchase



  • By Animal Type
    • Dog
    • Cat
    • Others
  • By Policy Type
    • Lifetime Cover
    • Illness Cover
    • Accident Cover
    • Non-Lifetime Cover
    • Illness Cover
    • Accident Cover
  • 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
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of global pet insurance market?
A1. The global pet insurance market was valued at US$61.163 billion in the year 2019
Q2. What will be the global pet insurance market size by 2025?
A2. The global pet insurance market is expected to reach a market size of US$80.798 billion by 2025.
Q3. What are the growth prospects for the global pet insurance market?
A3. The global pet insurance market is expected to grow at a CAGR of 4.75% over the forecast period.
Q4. How is the global pet insurance market segmented?
A4. The global pet insurance market has been segmented by animal type, policy type, and geography.
Q5. What is the base year considered in the global pet insurance market report?

A5.  2019 has been taken as the base year in the global pet insurance market.

Explore custom options available with this study:

  • Request customization

  • Buy sections of the study

  • Buy country specific report

  • Request excel, Historical data

  • Subscription inquiry

  • Request special pricing

Our Value Proposition

Analyst Support

All our studies come with 2 months of analyst support.


We are in compliance with the global privacy laws.