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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

IBISWorld’s Pet Insurance market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 - Starting a New Business Chapter

The Pet Insurance industry operates with high barriers to entry. A new entrant must conform to strict state and federal regulations to establish property and casualty (P&C) operations, of which pet insurance is a segment. Both the broader P&C and pet insurance markets are highly competitive. Both markets contain a large number of well-established brands, making it expensive for new entrants to compete on the basis of consumer awareness of their products. The largest of these traditional providers is Veterinary Pet Insurance Company, a division of Nationwide Insurance. Existing operators backed by large insurance companies with substantial financial resources pose massive barriers to entry in the Pet Insurance industry... 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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