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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 Key Buyers Chapter

The industry has an extremely high concentration level, with the top four players expected to account for 91.6% of industry revenue in 2012. Concentration has risen slightly from 91.2% in 2007, with the largest player losing some market share. The industry's largest player, VPI, enjoyed strong market share until about a decade ago when some new players entered the market. For example, PetPlan entered the industry in 2003; in 2007, the company had 0.2% market share. In 2012, PetPlan is estimated to hold 4.6% of the market as it continues aggressive expansion plans... 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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