Pet Insurance Market Forecast to 2028 - COVID-19 I..
Pet Insurance Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Policy (Illnesses and Accidents, Chronic Conditions, and Others); Animals (Dog, Cat, and Others); Providers (Public, Private, and Others), and Geography
Pet insurance is defined as insurance that can be paid partly or totally for the veterinary treatment of the insured pet. Such coverage is more or less similar to health insurance policies for humans. Pet insurance services involve policy coverage for pet accidents, injuries, and pet illnesses. Also, various pet insurance providers offer innovative insurance coverage policies for multiple pets to attract a large customer base. Pet insurance usually covers the often expensive veterinary procedures, either entirely or partly. Furthermore, with increasing healthcare costs for pets, pet owners are readily adopting pet health insurance, fostering market growth.
The "Global Pet Insurance Market Analysis to 2028" is a specialized and in-depth study of the pharmaceutical industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Pet insurance market with detailed market segmentation by type, end use, and geography. The report provides key statistics on the market status of the leading Pet insurance market players and offers key trends and opportunities in the market.
Based on policy, the global Pet insurance market is segmented into illnesses and accidents, chronic conditions, others.
On the basis of animal, the market is segmented into dog, cat, others
On the basis of provider, the market is segmented into public, private, others.
Rise in the numbers of pet adoptions.
Rise in the awareness about pet insurance.
Companies offering innovative pet insurance coverages.
The lack of standardized pet health codes for reimbursement is the major restraining factor for this market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Pet insurance market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Pet insurance market in these regions.
IMPACT OF COVID-19 ON PET INSURANCE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The report covers key developments in the Pet insurance market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Pet insurance market are anticipated to lucrative growth opportunities in the future with the rising demand for Pet insurance in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Pet insurance market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Royal & Sun Alliance
Direct Line Group
The Insight Partner's dediPet insuranceed research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
The List of Companies
1. Petplan U.K.
4. Hartville Group
8. Royal & Sun Alliance
9. Direct Line Group
13. Anicom Holding
14. ipet Insurance
15. Japan Animal Club