Pet Dog Insurance Market Report 2022 – 2030
Pet dog insurance is a type of insurance policy that covers veterinary expenses in case your dog falls ill or gets injured. With pet dog insurance, you can have peace of mind that you'll be able to afford the medical care your dog needs if something unexpected happens. There are different types of pet dog insurance policies available, but most typically cover expenses related to accidents, illnesses, and routine care. Some policies also offer coverage for prescription medications, dental care, and behavioral treatments.
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Pet insurance has become increasingly popular in recent years, and as a result, the pet insurance market has grown considerably. While many insurance providers offer coverage for cats and dogs, the focus of this response will be on the pet dog insurance market.
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In the United States, the pet insurance market is estimated to be worth over $1 billion annually. Within that market, the pet dog insurance segment is the largest, with dogs being the most commonly insured pet. According to the North American Pet Health Insurance Association (NAPHIA), there were over 2.82 million pets insured in North America at the end of 2020, with approximately 2.2 million of those being dogs.
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The Global Pet Insurance Market size was valued at $ 4.5 billion in 2020, and is projected to reach $16.8 billion by 2030, growing at a CAGR of 14.3% from 2021 to 2030
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The global Pet Dog Insurance market is expected to witness high demand in the forecasted period due to the increasing popularity of ownership of dogs across the region. Pet dog insurance is meant to cover the unforeseen veterinary care costs, including veterinary services such as accidental injuries, surgical procedures, and prescribed veterinary medicines. Increasing awareness about pet insurance policies in North America and Rising veterinary service costs will help to boost the global market demand.
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Nationwide | Petplan UK | Trupanion | Hartville Group Inc. | Pethealth Inc. | PetFirst | Embrace | RSA | Direct Line Group | Agrial |
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June 2021 – Trupanion announced the plan to expand its overseas growth by hiring Wheeler from Agria Pet Insurance Ltd. Wheeler will help in expansion of Trupanion’s international growth across new markets in Japan, U.K., Brazil and Western Europe.
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March 2021 – Waffle and Crum & Foster Pet Insurance Group announced a partnership with ASPCA Pet Health Insurance to provide pet owners with customizable and high-quality coverage in the U.S.
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January 2021 – Nationwide Mutual Insurance Company announced a partnership with Walmart to help families with pets save time and money while filling pet prescription medications at all the Walmart pharmacies.
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·????????Upsurging popularity of pet humanization and rising demand for pet grooming and care products
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·????????The low penetration rate
·????????The Surging volume of companion animal
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·????????The growing health benefits of Dog ownership
·????????The high demand for innovative dog insurance along with rising veterinary service cost
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What can be explored with the Pet Dog Insurance Market Study?
·????????Gain Market Understanding
·????????Identify Growth Opportunities
·????????Analyze and Measure the Global Pet Dog Insurance Market by Identifying Investment across various Industry Verticals
·????????Understand the Trends that will drive Future Changes in Pet Dog Insurance
·????????Understand the Competitive Scenario
o??Track Right Markets
o??Identify the Right Verticals
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#Pet_Dog_Insurance Comprehensive Study by #Type (#LifetimeCover , Non-lifetime Cover, Accident-only, #Accident & #Illness ), #Application (#SmallBreed , #LargeBreed ), #EndUse (#Agency , #Broker , #Bancassurance , #DirectWriting )
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Consultant
1 年https://bbcfoxnew.com/pet-insurance-helpful-guide-for-pet-owners/