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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 | Apr 2015

Safe and hound: Growth in the number of pets will help brighten the industry's future

The Pet Insurance market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
ASPCA Pet Health Insurance ASPCA Pet Health Insurance market share
Petplan Petplan market share
Trupanion Trupanion market share
VPI Pet Insurance VPI Pet Insurance market share
Industry Statistics & Market Size
Revenue
$721m
Annual Growth 10-15
10.9%
Annual Growth 15-20
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Profit
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Employment
1,927
Businesses
12
Industry Analysis & Industry Trends

Rapidly increasing consumer awareness and acceptance of industry offerings has benefited the Pet Insurance industry. In the next five years, the number of pets is anticipated to rise and homeownership rates are forecast to rebound. As a result, industry revenue will increase. However, an enhanced focus on technological platforms and gains from economies of scale will cause wages as a share of revenue to decline slowly.... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Pet Insurance industry operates with a high level of market share concentration. The top four companies are estimated to account for 85.5% of total industry revenue in 2015, representing a substantial increase from 69.1% in 2010. With only an estimated 12 companies operating in the industry in 2015, it is not surprising that the industry is highly concentrated. The industry's largest player, Veterinary Pet Insurance Company, has maintained its dominant share of the market over the five-year period, despite having lost a substantial portion of the market since 2004.

As a result, the industry's uptick in concentration is primarily the result of the rapid growth among some smaller pet insurers over the five-year period... 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
Accident and illness dog policiesAccident only dog policiesDog insurance policies with embedded wellnessAccident and illness policies for cats and other petsAccident only policies for cats and other petsCat and other pet insurance policies with embedded wellness
 
Industry Activities
Underwriting accident and illness pet insurance policiesUnderwriting accident only pet insurance policiesUnderwriting pet insurance policies with embedded wellness


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