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Pet Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Pet Insurance Market Research Report | Consumer Goods & Services | Pet Care | Oct 2012

Safe and hound: Industry's future bright as pet's esteem grows in households, disposable incomes rise

IBISWorld’s Pet Insurance market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
ASPCA Pet Health Insurance ASPCA Pet Health Insurance market share
VPI Pet Insurance VPI Pet Insurance market share
Industry Statistics & Market Size
Revenue
$651m
Annual Growth 07-12
6.0%
Annual Growth 12-17
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Profit
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Employment
2,805
Businesses
14
Industry Analysis & Industry Trends

The Pet Insurance industry grew quickly during the past five years, expanding even during the economic downturn, as pet owners increasingly treated their pets as family members. Industry firms began to offer a wider variety of insurance options that offered more customized plans targeted towards pet owners with different demands and incomes. Trends that have been spurring growth during the past five years, such as rising pet ownership and disposable incomes, will continue to contribute to industry growth during the next five years.... purchase to read more

Industry Report - Industry Investment Chapter

The Pet Insurance industry exhibits a low level of capital intensity. For every dollar spent on capital, about $8.58 is spent on wages. Capital expenditures are generally used for running office operations including property and equipment used to conduct everyday business. As wages account for about 10.3% of industry revenue due to the sales related nature of pet insurance, thus requiring a relatively low amount of capital investment.

The ratio of labor to capital varies among different firms of different sizes. As the volume of businesses increases, the level of capital intensity declines due to scale, as the need for capital investments regarding claims processing, policy administration and other accounting related activities do not increase with an increase in sales... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Pet Insurance Industry?

This industry underwrites insurance policies for pets and pays veterinary costs related to illness or injury.

Industry Products
Cat insuranceDog insuranceOther insurance
 
Industry Activities
Underwriting health and medical insurance policies for petsManaging care between pet care provider and individual recipientThird-party administration of self-funded insurance plans


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