This post is from a suggested group
Pet Insurance Market: Size, Share & Trends Analysis By 2032
The global pet insurance market is witnessing strong expansion, underpinned by growing pet ownership, rising veterinary costs, and increasing consumer awareness of pet welfare. In 2024, the market was valued in the tens of billions of USD; through the forecast period, it is expected to grow at a compound annual growth rate (CAGR) in the range of 15‑18%, reaching upwards of USD 40‑50+ billion by the early 2030s.
Market Segmentation & Share Highlights:
Coverage types such as accident & illness dominate, capturing the majority of premium revenues. Owners favour plans that cover not only emergencies but chronic or hereditary conditions.
Among animal types, dogs continue to account for the largest share, given their higher frequency of veterinary interventions; however, cats and “other pets” (exotics, small mammals, etc.) are registering faster growth rates.
As for distribution channels, direct sales (online platforms, insurer websites) and “embedded insurance” (via pet‑supplies retailers, veterinary clinics, etc.) are gaining ground rapidly. Brokers…