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