Worldwide Pet Insurance Industry to 2030 - Featuring Petfirst, Ipet Insurance and Trupanion Among Others - Insurance News

DUBLIN, Feb. 7, 2022 /PRNewswire/ -- The "Pet Insurance Market by Policy Coverage, by Animal Type, by Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

Pet insurance is a health insurance policy offered to pet owners to claim and reimburse certain medical expenses. Pet insurance is used to cover the pets of both residential as well as commercial. According to the survey in 2019 North American Pet Health Insurance Association (NAPHIA), the average cost for pet insurance in the U.S. in 2019 was $585.40 per year for dogs and $349.93 for cats. The total value of the U.S. pet insurance market was $1.56 billion. In addition, this will directly create an opportunity for the players to grab the untouched customers and offers different products to increase their sales and customer satisfaction. Furthermore, it also helps reduce the financial risk of unexpected veterinary costs by covering injuries caused by accident and illness such as cancer, hip dysplasia, glaucoma, parvovirus and others, medication and surgery.

Increased demand for pet insurance policies and rise in need for financial safety in case of surge in uncertainties boost the growth of the global pet insurance market. In addition, surge in number of veterinary centers positively impacts the growth of the market. However, lack of awareness regarding pet insurance policy and high premium cost hampers the market growth. On the contrary implementation of technologies in existing products and service lines, and government initiatives regarding pet insurance policies are expected to offer remunerative opportunities for expansion of the market during the forecast period.

The pet insurance market is segmented on the basis of policy coverage, animal type, sales channel and region. By policy coverage, the market is divided into accident only, accident & illness, and other. By animal type, it is bifurcated into dogs, cats, and others. By sales channel, the market is divided into agency, broker and other. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the pet insurance market analysis are Embrace Pet Insurance Agency, LLC, Figo Pet Insurance LLC., Hartville Group, Nationwide, Pet Assure Corp., PetFirst, Ipet Insurance, Pets Best Insurance Services, LLC, Royal & Sun Alliance (RSA), and Trupanion. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits

The study provides an in-depth analysis of the global pet insurance market forecast along with the current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global pet insurance market trends is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2020 to 2030 is provided to determine the market potential.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping gaming simulators industry/market
3.2.1. Market dynamics
3.2.1.1. Increased demand for pet insurance policies
3.2.1.2. Rise in need for financial safety in case of increasing uncertainties
3.2.1.3. Surge in number of veterinary centers
3.2.2. Restraints
3.2.2.1. Lack of awareness regarding pet insurance policy
3.2.2.2. High premium cost
3.2.3. Opportunities
3.2.3.1. Implementation of technologies in existing products and service lines
3.2.3.2. Government initiatives regarding pet insurance policies
3.1. COVID-19 impact analysis on pet insurance market
3.1.1. Impact on market size
3.1.2. Change in consumer trends, preferences, and budget impact due to COVID-19
3.1.3. Economic impact
3.1.4. Key player strategies to tackle negative impact in the industry
3.1.5. Opportunity analysis for pet insurance service providers

CHAPTER 4: PET INSURANCE MARKET, BY PROLICY COVERAGE
4.1. Overview
4.2. Accident only
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Accident & illness
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.4. Others
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis, by country

CHAPTER 5: PET INSURANCE MARKET, BY ANIMAL TYPE
5.1. Overview
5.2. Dogs
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Cats
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
5.4. Others
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis, by country

CHAPTER 6: PET INSURANCE MARKET, BY SALES CHANNEL
6.1. Overview
6.2. Agency
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Broker
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country
6.4. Others
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market analysis, by country

CHAPTER 7: PET INSURANCE MARKET, BY REGION

CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Key players positioning analysis, 2020
8.2. Competitive dashboard
8.3. Top winning strategies

CHAPTER 9: COMPANY PROFILES
9.1. Embrace Pet Insurance Agency, LLC
9.1.1. Company overview
9.1.2. Key executives
9.1.3. Company snapshot
9.1.4. Product portfolio
9.1.5. Key strategic moves and developments
9.2. Figo Pet Insurance LLC.
9.2.1. Company overview
9.2.2. Key executives
9.2.3. Company snapshot
9.2.4. Product portfolio
9.2.5. Key strategic moves and developments
9.3. Hartville Group
9.3.1. Company overview
9.3.2. Key executives
9.3.3. Company snapshot
9.3.4. Product portfolio
9.3.5. Business performance
9.3.6. Key strategic moves and developments
9.4. Nationwide
9.4.1. Company overview
9.4.2. Key executives
9.4.3. Company snapshot
9.4.4. Product portfolio
9.4.5. Key strategic moves and developments
9.5. Pet Assure Corp.
9.5.1. Company overview
9.5.2. Key executive
9.5.3. Company snapshot
9.5.4. Product portfolio
9.6. Petfirst
9.6.1. Company overview
9.6.2. Key executive
9.6.3. Company snapshot
9.6.4. Product portfolio
9.6.5. Business performance
9.6.6. Key strategic moves and developments
9.7. Ipet Insurance
9.7.1. Company overview
9.7.2. Key executives.
9.7.3. Company snapshot
9.7.4. Product portfolio
9.7.5. Key strategic moves and developments
9.8. Pets Best Insurance Services, LLC
9.8.1. Company overview
9.8.2. Key executives
9.8.3. Company snapshot
9.8.4. Product portfolio
9.8.5. Key strategic moves and developments
9.9. Royal & Sun Alliance (RSA)
9.9.1. Company overview
9.9.2. Key executives
9.9.3. Company snapshot
9.9.4. Product portfolio
9.9.5. Business performance
9.9.6. Key strategic moves and developments
9.10. Trupanion
9.10.1. Company overview
9.10.2. Key executives
9.10.3. Company snapshot
9.10.4. Operating business segments
9.10.5. Product portfolio
9.10.6. Business performance
9.10.7. Key strategic moves and developments