Market Overview:
The global pet lifetime cover insurance market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing trend of pet ownership, rising awareness about pet health insurance, and growing demand for customized policies. The global pet lifetime cover insurance market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into pet liability insurance, pet medical insurance, and other types of coverage such as accidental death or injury coverage. Pet medical insurance is expected to account for a major share in terms of revenue in 2018 owing to rising awareness about preventive healthcare measures for pets and growing expenditure on veterinary care globally. The application segment includes dogs, cats, and other animals such as horses or exotic pets. Dogs are expected to account for a major share in terms of revenue in 2018 owing to their high adoption rates across regions worldwide.
Product Definition:
Pet lifetime cover insurance is a type of pet insurance that provides coverage for pets throughout their life. This type of policy can be helpful for pet owners who want to ensure that their pet will be covered no matter what happens. The importance of this type of coverage can vary depending on the individual, but it can be helpful for those who want to make sure they have protection in case something happens to their pet.
Pet Liability Insurance:
Insurance is a financial protection against the risk which is supposed to come true. Liability insurance for pets, also known as pet lifetime cover insurance, provides coverage for veterinary surgeries and medical expenses in case of an accident or illness. The main target audience of this product includes people who have more than one pet and are willing to spend a little extra money on their pets' health cover.
Pet Medical Insurance:
Pet medical insurance is a policy that covers veterinary expenses in case of illness, accident or injury to the animal.
It provides coverage for accidents and illnesses occurring throughout the lifetime of the insured animal. It also covers non-lifetime events such as congenital diseases in animals and accidental injuries sustained during an assured period.
Application Insights:
The dog application segment accounted for the largest revenue share of over 60.0% in 2017 and is expected to continue its dominance over the forecast period. The growing popularity of pet dogs across the globe has been a major factor contributing to this growth. According to statistics published by the American Kennel Club, there are nearly 78 million households in America owning at least one dog as pets, which represents approximately 23% of total U.S.
The cat application segment is expected to grow at a significant rate during lifetime cover insurance market¢â‚¬â„¢s forecast period owing to increasing number of pet cats being adopted from shelters and rescues across North America.
Regional Analysis:
North America dominated the global pet lifetime cover insurance market in 2017. This is attributed to rising pet adoption and increasing expenditure on veterinary healthcare. According to a study published by the North American Pet Health Insurance Association (NAPHIA), in 2016, around 44% of U.S. households had at least one dog while 37% had at least one cat; this number was 15 years ago when 56% of U.
Asia Pacific is expected to be the fastest-growing region over the forecast period owing to growing awareness about pet health insurance among people, increasing disposable income, improving veterinary healthcare facilities and rising demand for pets as family members across various countries including China, India Japan Thailand & Singapore etc.
Growth Factors:
- Increasing pet ownership: The pet insurance industry is expected to grow as the number of pet owners increases. In the U.S., there are approximately 78 million dogs and 85 million cats, and this number is projected to grow in the future.
- Rising veterinary costs: Veterinary care has become increasingly expensive, and many people are choosing to purchase pet insurance to cover these costs. In fact, the average cost of a vet bill has increased by more than 50% in recent years.
- More comprehensive policies: Pet insurers are offering more comprehensive policies that cover a wider range of treatments and services. This allows policyholders to better protect their pets against costly medical bills incurred from illness or injury.
Scope Of The Report
Report Attributes
Report Details
Report Title
Pet Lifetime Cover Insurance Market Research Report
By Type
Pet Liability Insurance, Pet Medical Insurance, Pet Lifetime Cover Insuranc
By Application
Dog, Cat, Other
By Companies
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, Pet Lifetime Cover Insuranc
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Pet Lifetime Cover Insurance Market Report Segments:
The global Pet Lifetime Cover Insurance market is segmented on the basis of:
Types
Pet Liability Insurance, Pet Medical Insurance, Pet Lifetime Cover Insuranc
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Dog, Cat, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 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
- Pet Lifetime Cover Insuranc
Highlights of The Pet Lifetime Cover Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Pet Liability Insurance
- Pet Medical Insurance
- Pet Lifetime Cover Insuranc
- By Application:
- Dog
- Cat
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Pet Lifetime Cover Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Pet Lifetime Cover Insurance is a policy that provides coverage for your pet throughout their lifetime. If your pet dies, the insurance company will pay out a lump sum to cover the cost of their funeral and any associated costs.
Some of the major companies in the pet lifetime cover insurance market are 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, Pet Lifetime Cover Insuranc.
The pet lifetime cover insurance market is expected to register a CAGR of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Pet Lifetime Cover Insurance Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Pet Lifetime Cover Insurance Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Pet Lifetime Cover Insurance Market - Supply Chain
4.5. Global Pet Lifetime Cover Insurance Market Forecast
4.5.1. Pet Lifetime Cover Insurance Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Pet Lifetime Cover Insurance Market Size (000 Units) and Y-o-Y Growth
4.5.3. Pet Lifetime Cover Insurance Market Absolute $ Opportunity
5. Global Pet Lifetime Cover Insurance Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Pet Lifetime Cover Insurance Market Size and Volume Forecast by Type
5.3.1. Pet Liability Insurance
5.3.2. Pet Medical Insurance
5.3.3. Pet Lifetime Cover Insuranc
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Pet Lifetime Cover Insurance Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Pet Lifetime Cover Insurance Market Size and Volume Forecast by Application
6.3.1. Dog
6.3.2. Cat
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Pet Lifetime Cover Insurance Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Pet Lifetime Cover Insurance Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Pet Lifetime Cover Insurance Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Pet Lifetime Cover Insurance Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Pet Lifetime Cover Insurance Demand Share Forecast, 2019-2026
9. North America Pet Lifetime Cover Insurance Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Pet Lifetime Cover Insurance Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Pet Lifetime Cover Insurance Market Size and Volume Forecast by Application
9.4.1. Dog
9.4.2. Cat
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Pet Lifetime Cover Insurance Market Size and Volume Forecast by Type
9.7.1. Pet Liability Insurance
9.7.2. Pet Medical Insurance
9.7.3. Pet Lifetime Cover Insuranc
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Pet Lifetime Cover Insurance Demand Share Forecast, 2019-2026
10. Latin America Pet Lifetime Cover Insurance Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Pet Lifetime Cover Insurance Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Pet Lifetime Cover Insurance Market Size and Volume Forecast by Application
10.4.1. Dog
10.4.2. Cat
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Pet Lifetime Cover Insurance Market Size and Volume Forecast by Type
10.7.1. Pet Liability Insurance
10.7.2. Pet Medical Insurance
10.7.3. Pet Lifetime Cover Insuranc
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Pet Lifetime Cover Insurance Demand Share Forecast, 2019-2026
11. Europe Pet Lifetime Cover Insurance Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Pet Lifetime Cover Insurance Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Pet Lifetime Cover Insurance Market Size and Volume Forecast by Application
11.4.1. Dog
11.4.2. Cat
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Pet Lifetime Cover Insurance Market Size and Volume Forecast by Type
11.7.1. Pet Liability Insurance
11.7.2. Pet Medical Insurance
11.7.3. Pet Lifetime Cover Insuranc
11.8. Basis Point Share (BPS)Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Pet Lifetime Cover Insurance Demand Share, 2019-2026
12. Asia Pacific Pet Lifetime Cover Insurance Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Pet Lifetime Cover Insurance Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Pet Lifetime Cover Insurance Market Size and Volume Forecast by Application
12.4.1. Dog
12.4.2. Cat
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Pet Lifetime Cover Insurance Market Size and Volume Forecast by Type
12.7.1. Pet Liability Insurance
12.7.2. Pet Medical Insurance
12.7.3. Pet Lifetime Cover Insuranc
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Pet Lifetime Cover Insurance Demand Share, 2019-2026
13. Middle East & Africa Pet Lifetime Cover Insurance Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Pet Lifetime Cover Insurance Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Pet Lifetime Cover Insurance Market Size and Volume Forecast by Application
13.4.1. Dog
13.4.2. Cat
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Pet Lifetime Cover Insurance Market Size and Volume Forecast by Type
13.7.1. Pet Liability Insurance
13.7.2. Pet Medical Insurance
13.7.3. Pet Lifetime Cover Insuranc
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Pet Lifetime Cover Insurance Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Pet Lifetime Cover Insurance Market: Market Share Analysis
14.2. Pet Lifetime Cover Insurance Distributors and Customers
14.3. Pet Lifetime Cover Insurance Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Petplan UK (Allianz)
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Nationwide
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Trupanion
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Petplan NorthAmerica(Allianz)
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Hartville Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Pethealth
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Petfirst
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Embrace
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Royal & Sun Alliance (RSA)
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Direct Line Group
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Agria
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Petsecure
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. PetSure
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Anicom Holding
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. ipet Insurance
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Japan Animal Club
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Pet Lifetime Cover Insuranc
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
