Pet Insurance Market 2020: Global Analysis, Industry Growth, Current Trends, Consumption, Segmentation and Forecast till 2026
Research Reports
Jan 13, 2021
Updated Research Report of Pet Insurance Market 2020-2026:
Summary: –
A new market study, titled “Pet Insurance Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Based on the analysis covering key industry dynamics, the Pet Insurance market research report offers a holistic outlook for the worldwide market. The segment analysis includes key information about the products and applications present in the market across different regions. The scope for the products and services in the Pet Insurance market has been studied in depth along with all the innovative ideas being implemented by the Pet Insurance market key players. The report also covers key technological developments that could accelerate production and distribution. The study analyses the global Pet Insurance market based on the data collected, and offers growth estimations for the market based on key parameters spanning throughout the forecast period 2020-2026. The study provides critical market knowledge, with market research-based insights.
Pet insurance is a type of specialty property and casualty insurance policy that pet owners purchase to cover the unintended costs that arise in providing care for a pet, including veterinary services such as surgical procedures, injuries from accidents, and prescribed pet medicines. Pet insurance is purely a reimbursement program. A form of property and casualty insurance, pet insurance provides reimbursement to the owner after the pet has received required care and the owner submits a claim to the insurance company.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Pet Insurance market in 2020.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
The global pet insurance market is catching pace in several developed as well as developing countries. The rise in pet ownership has paved the way for several developments in the industry in recent times. Issued under the property insurance category, pet insurance is in the introductory growth stage in most countries. The rapid growth in the number of animal owners in the past decade across the globe, especially in the US, Canada, the UK, and Sweden, where dogs and cats are treated as a family members is expected to influence the market significantly.
The increasing popularity of pet humanization concept is increasing the demand for pet grooming and care products. Owners, especially millennials, are willing to spend more on their animals to ensure a healthy and secure life. The US household spent more than $72 billion in 2018 on pet medical insurance care, which is 4.5% higher than in 2017. Pet food and related products earned a revenue of more than $45 billion in Europe in 2018. Hence, the increased interest of European animal owners to spend is likely to opt for animal protection cover. Europe constituted the largest market for pet health insurance in 2018, which is expected to grow during the forecast period.
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Regional Description
The global market report Pet Insurance also provides a segmentation of the industry according to the main regions and countries active in the Pet Insurance market. A survey of regional markets is performed in the report. For each of these regional market segments, performances of regional as well as country-level markets and their key companies have been presented on the basis of sales, production capacity, market values and volume along with other key market forces. The report provides a forecast for the key market dynamics such as size and growth potential of various regional markets and countries during the 2020 to 2026 period. The current market trends and industry outlook for the key regional markets has also been discussed.
The report offers an exhaustive geographical analysis of the global Pet Insurance market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.
Competition Analysis
In the competitive analysis section of the report, leading as well as prominent players of the global Pet Insurance market are broadly studied on the basis of key factors. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Pet Insurance market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Pet Insurance market.
The following players are covered in this report:
Petplan UK (Allianz)
Nationwide
Trupanion
Petplan NorthAmerica(Allianz)
Hartville Group
Pethealth
Petfirst
Embrace
Royal & Sun Alliance (RSA)
Direct Line Group
Agria
Petsecure
PetSure
Anicom Holding
ipet Insurance
Japan Animal Club
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Major Key Points in Table of Content
1 Study Coverage
2 Executive Summary
3 Global Pet Insurance Competitor Landscape by Players
4 Breakdown Data by Type (2015-2026)
4 Breakdown Data by Type (2015-2026)
6 North America
6 North America
8 Asia Pacific
9 Latin America
10 Middle East and Africa
11 Company Profiles
12 Future Forecast by Regions (Countries) (2021-2026)
13 Market Opportunities, Challenges, Risks and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
Continued……………………
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Note:
Our team is studying Covid-19 and its impact on various industry verticals and wherever required we will be considering Covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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