Pet Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Global Pet Insurance Industry Analysis & Size. The market is Segmented By Policy (Illnesses and Accidents, Chronic Conditions, and Other Policies), Animal (Dog, Cat, and Other Animals), Provider (Public and Private), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).

Pet Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Pet Insurance Market Size

Pet Insurance Market Summary
Study Period 2021 - 2030
Market Size (2025) USD 12.10 Billion
Market Size (2030) USD 21.73 Billion
CAGR (2025 - 2030) 12.43 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Pet Insurance Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Pet Insurance Market with other markets in Healthcare Industry

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Device Drug Combination

Pet Insurance Market Analysis

The Pet Insurance Market size is estimated at USD 12.10 billion in 2025, and is expected to reach USD 21.73 billion by 2030, at a CAGR of 12.43% during the forecast period (2025-2030).

The pet insurance industry is experiencing significant transformation driven by the evolving relationship between humans and their pets, with pet humanization emerging as a defining trend. This shift in perception has led to increased spending on premium pet care services and sophisticated medical treatments. The industry landscape reflects this evolution, with an estimated 85 million European households owning at least one pet animal, demonstrating the substantial market potential. Insurance providers are responding by developing more comprehensive coverage options that align with pet owners' expectations for high-quality healthcare services for their animal companions.


Technological advancements in veterinary care have revolutionized pet healthcare delivery, introducing sophisticated diagnostic and treatment options previously available only in human medicine. Advanced procedures such as CT scans, MRI imaging, and specialized surgeries are becoming increasingly common in veterinary practices. This technological evolution has led to higher treatment costs, making pet insurance more relevant than ever. The integration of telehealth services and digital platforms has also transformed how pet insurance companies interact with customers, offering more streamlined claims processes and improved service delivery.


The industry is witnessing significant consolidation through strategic partnerships and acquisitions, reflecting its maturation and potential for growth. In India, the pet insurance market is projected to grow by 14% annually, with over 19 million insured pets, indicating substantial market potential in emerging economies. Insurance providers are expanding their service offerings and geographical presence through strategic alliances, enhancing their competitive positions and market reach. This consolidation trend is expected to continue as companies seek to achieve economies of scale and expand their customer base.


The market is characterized by increasing sophistication in insurance products and services, with providers developing specialized coverage options for different pet types and medical conditions. Insurance companies are introducing innovative features such as preventive care coverage, wellness rewards programs, and customizable policy options to meet diverse customer needs. The United States market alone serves approximately 83.7 million dogs, highlighting the substantial opportunity for insurance providers. This evolution in product offerings reflects the industry's response to changing consumer preferences and the growing recognition of pets as valuable family members requiring comprehensive healthcare coverage. The growth of the pet insurance industry is further supported by these trends in pet insurance and pet insurance statistics.

Segment Analysis: By Policy

Illnesses and Accidents Segment in Pet Insurance Market

The Illnesses and Accidents segment dominates the global pet insurance market, accounting for approximately 69% of the total market share in 2024. This segment's prominence is primarily driven by the increasing prevalence of pet illnesses and accidents requiring medical intervention. The segment covers a comprehensive range of medical conditions, including bone fractures, skin allergies, emergency treatments, and various acute conditions that pets may experience. Pet insurance companies have been expanding their coverage options within this segment to include more specialized treatments and advanced medical procedures. The growing awareness among pet owners about the potential financial burden of unexpected veterinary expenses has significantly contributed to the segment's dominance. Additionally, the segment is experiencing the fastest growth in the market, driven by technological advancements in veterinary care, increasing pet healthcare costs, and the rising adoption of pets globally.

Market Analysis of Pet Insurance Market: Chart for By Policy

Remaining Segments in Pet Insurance Market

The Chronic Conditions and Other Policies segments complete the pet insurance market landscape, each serving distinct needs within the pet healthcare ecosystem. The Chronic Conditions segment addresses long-term health issues such as diabetes, cancer, and other ongoing medical conditions that require continuous treatment and monitoring. This segment has gained significant traction due to the increasing lifespan of pets and better diagnostic capabilities in veterinary medicine. The Other Policies segment encompasses specialized coverage options, including hereditary conditions, behavioral issues, and preventive care packages. These segments play a crucial role in providing comprehensive coverage options for pet owners, particularly those with aging pets or breeds predisposed to specific health conditions. Pet insurance companies continue to innovate within these segments by introducing customizable policies and value-added services to meet evolving pet healthcare needs.

Segment Analysis: By Animal

Dog Segment in Pet Insurance Market

The dog segment continues to dominate the global pet insurance market, commanding approximately 71% of the total market share in 2024. This substantial market presence is primarily driven by the increasing adoption of dogs as companion animals across developed and developing nations. The segment's dominance is further strengthened by the rising awareness among dog owners about the importance of pet insurance coverage for various health conditions, including accidents, illnesses, and routine care. The high veterinary costs associated with dog healthcare, particularly for breeds prone to genetic conditions and chronic diseases, have made pet insurance an essential consideration for dog owners. Additionally, the growing trend of humanization of pets, especially dogs, has led to increased spending on their healthcare and wellness, contributing to the segment's market leadership.

Cat Segment in Pet Insurance Market

The cat segment is emerging as the fastest-growing category in the pet insurance market, projected to expand at approximately 16% CAGR from 2024 to 2029. This accelerated growth is attributed to the increasing preference for cats as pets, particularly in urban areas where living spaces are more compact. Insurance companies are developing specialized coverage plans tailored specifically for cats, addressing their unique health needs and common medical conditions. The rising awareness about preventive healthcare for cats, coupled with the increasing cost of veterinary services, is driving more cat owners to seek pet insurance coverage. Furthermore, the growing recognition of cats' susceptibility to various health issues and the need for regular veterinary care is encouraging pet owners to invest in comprehensive insurance policies.

Remaining Segments in Pet Insurance Market by Animal

The other animals segment in the pet insurance market encompasses a diverse range of pets, including rabbits, ferrets, exotic birds, and reptiles. This segment is gaining traction as pet insurance companies expand their coverage options beyond traditional companion animals. Insurance companies are developing specialized policies that address the unique healthcare needs of these various pet types, recognizing the growing trend of exotic pet ownership. The segment is particularly influenced by the increasing adoption of small mammals and exotic pets in developed markets, where pet owners are becoming more conscious about their pets' healthcare needs and are seeking comprehensive pet insurance coverage to manage veterinary expenses.

Segment Analysis: By Provider

Private Segment in Pet Insurance Market

The private segment dominates the global pet insurance market, commanding approximately 85% of the total market share in 2024. Private health insurance providers, including both insurance brokers and companies, offer more comprehensive and flexible coverage options compared to public insurance. These providers typically deliver superior customer service, shorter wait times, greater individualized attention, and access to more sophisticated facilities. Many private exchanges offer advanced plan selection tools that help pet owners analyze the true cost of particular plans by considering factors beyond basic premium costs, such as deductibles and copays. Private providers have also been at the forefront of technological innovation, implementing digital platforms and mobile applications to streamline the insurance process and improve customer experience. The segment's strong performance is further bolstered by the increasing number of private insurers entering the market and expanding their service offerings to meet the growing demand for pet insurance products.

Public Segment in Pet Insurance Market

The public segment in the pet insurance market represents government-backed insurance initiatives and programs designed to support pet healthcare accessibility. This segment is projected to experience steady growth from 2024 to 2029, driven by increasing government involvement in pet healthcare policies and regulations. Public insurance providers are focusing on developing standardized pet health codes and implementing more comprehensive regulatory frameworks to ensure better coverage and protection for pet owners. Various government bodies and regulatory authorities are working to create appropriate standards for the pet insurance industry, addressing key aspects such as definitions, disclosures, violations, producer licensing, pre-existing conditions, and reimbursement benefits. The segment's growth is also supported by rising awareness about the importance of pet insurance and the implementation of government-backed programs to promote responsible pet ownership and healthcare.

Pet Insurance Market Geography Segment Analysis

Pet Insurance Market in North America

North America represents a highly developed pet insurance market, characterized by increasing pet adoption rates and growing awareness about pet healthcare costs. The region encompasses the United States, Canada, and Mexico, with each country showing distinct market characteristics influenced by factors such as veterinary healthcare infrastructure, pet ownership patterns, and insurance penetration rates. The market is supported by advanced veterinary care facilities, rising pet healthcare expenditure, and increasing awareness about the benefits of pet insurance among pet owners.

Market Analysis of Pet Insurance Market: Forecasted Growth Rate by Region

Pet Insurance Market in United States

The United States dominates the North American pet insurance market, holding approximately 75% market share in the region. The country's market leadership is driven by factors such as high pet ownership rates, advanced veterinary infrastructure, and increasing pet healthcare expenditure. The American Pet Products Association's pet insurance statistics show significant pet adoption trends, with cats and dogs being the most insured pets. The market is characterized by innovative insurance products, comprehensive coverage options, and strong distribution networks through various channels including direct-to-consumer, veterinary clinics, and online platforms.

Pet Insurance Market in Canada

Canada demonstrates robust growth potential in the pet insurance industry, with a projected CAGR of approximately 15% during 2024-2029. The country's market is characterized by increasing pet ownership, particularly among urban households, and growing awareness regarding companion animal health. Canadian pet owners are increasingly recognizing the importance of pet insurance as a means to manage veterinary costs. The market benefits from well-established veterinary infrastructure and supportive regulatory frameworks that encourage pet insurance adoption. The presence of both domestic and international insurance providers creates a competitive environment that drives innovation in insurance products and services.

Pet Insurance Market in Europe

Europe represents a mature pet insurance market, with well-established insurance frameworks across major economies including Germany, the United Kingdom, France, Italy, and Spain. The region benefits from high pet ownership rates, advanced veterinary care infrastructure, and strong awareness about pet insurance benefits. Each country in the region exhibits unique market characteristics influenced by local pet ownership patterns, regulatory environments, and insurance penetration rates.

Pet Insurance Market in Germany

Germany leads the European pet insurance market, commanding approximately 23% of the regional market share. The country shows the largest number of pet humanizations in Europe, with a significant portion of households owning pets, particularly dogs and cats. The German market is characterized by comprehensive insurance coverage options, strong distribution networks, and high-quality veterinary care infrastructure. The market benefits from increasing pet adoption rates and growing awareness about pet healthcare costs among German pet owners.

Pet Insurance Market in United Kingdom

The United Kingdom demonstrates exceptional growth potential in the pet insurance industry, with a projected CAGR of approximately 16% during 2024-2029. The UK market is characterized by innovative insurance products, strong consumer awareness, and comprehensive coverage options. The country's pet insurance landscape benefits from well-established veterinary infrastructure and supportive regulatory frameworks. British pet owners show increasing recognition of the importance of pet insurance in managing veterinary costs, particularly for preventive care and unexpected medical expenses.

Pet Insurance Market in Asia-Pacific

The Asia-Pacific region represents a dynamic and rapidly evolving pet insurance market, encompassing diverse economies including China, Japan, India, Australia, and South Korea. The region demonstrates varying levels of market maturity, with developed markets like Japan and Australia showing high insurance penetration rates, while emerging markets like India present significant growth opportunities. The market is driven by increasing pet ownership, rising disposable incomes, and growing awareness about pet healthcare.

Pet Insurance Market in China

China leads the Asia-Pacific pet insurance market, demonstrating strong market presence and growth potential. The Chinese market benefits from rapid urbanization, increasing pet ownership among younger generations, and growing awareness about pet healthcare costs. The market shows significant development in terms of insurance product innovation, distribution channels, and service offerings. The presence of both domestic and international insurance providers creates a competitive environment that drives market growth and innovation.

Pet Insurance Market in Japan

Japan exhibits remarkable growth potential in the pet insurance sector, driven by advanced veterinary healthcare infrastructure and a strong pet ownership culture. The Japanese market is characterized by sophisticated insurance products, high-quality veterinary care, and strong consumer awareness about pet healthcare needs. The market benefits from technological innovations in pet healthcare and insurance services, making it increasingly accessible to pet owners across the country. The pet insurance japan market is poised for significant expansion as awareness and adoption rates continue to rise.

Pet Insurance Market in Middle East & Africa

The Middle East & Africa region presents an emerging pet insurance market, with varying levels of market development across different countries. The region encompasses the GCC countries and South Africa as key markets, with the GCC leading in market size while South Africa shows the fastest growth potential. The market is characterized by increasing pet ownership in urban areas, growing awareness about pet healthcare, and developing veterinary infrastructure. The pet insurance uae market, in particular, shows potential for expansion, particularly in urban centers where pet ownership is increasingly becoming popular.

Pet Insurance Market in South America

South America represents an emerging pet insurance market, with Brazil and Argentina as key countries driving regional growth. Brazil leads both in market size and growth rate, benefiting from increasing pet ownership and growing awareness about pet healthcare costs. The region shows significant potential for market expansion, supported by developing veterinary infrastructure and rising pet ownership rates, particularly in urban areas. The market is characterized by increasing penetration of insurance products and growing awareness about the benefits of pet insurance among pet owners.

Pet Insurance Industry Overview

Top Companies in Pet Insurance Market

The pet insurance market features established players focusing heavily on product innovation through customized insurance plans catering to different pet species, age groups, and coverage needs. Pet insurance companies are demonstrating operational agility by leveraging digital platforms for policy management, claims processing, and customer service, while also partnering with veterinary networks to expand their service reach. Strategic moves in the industry include extensive investments in technology infrastructure to enable real-time claim settlements and mobile-based policy management. Market leaders are pursuing geographical expansion through both organic growth and strategic partnerships, particularly targeting emerging markets with rising pet ownership rates and increasing pet healthcare expenditure. The competitive landscape is characterized by continuous efforts to enhance customer experience through simplified policy structures, transparent pricing, and value-added services like pet healthcare advice and preventive care coverage.

Dynamic Market with Strong Regional Players

The pet insurance market exhibits a mix of global insurance conglomerates and specialized pet insurance companies, with regional players maintaining strong positions in their respective markets. Global players leverage their extensive insurance expertise and financial strength to offer comprehensive coverage options, while specialized providers differentiate themselves through focused pet-specific products and services. The market shows moderate consolidation, with larger insurance groups acquiring specialized pet insurance companies to expand their portfolio and market presence.


The competitive dynamics vary significantly across regions, with North America and Europe featuring more mature markets characterized by established players and sophisticated product offerings. In contrast, emerging markets in Asia-Pacific and Latin America present opportunities for new entrants and regional specialists. Market consolidation is primarily driven by the need to achieve economies of scale, expand geographic presence, and acquire technological capabilities. Recent years have witnessed increased merger and acquisition activities, particularly involving technology-focused pet insurance startups being acquired by traditional insurance providers looking to modernize their offerings.

Innovation and Customer Focus Drive Success

For incumbent players to maintain and increase their pet insurance market share, developing comprehensive digital capabilities and establishing strong partnerships with veterinary networks have become crucial success factors. Market leaders are focusing on creating integrated pet healthcare ecosystems that combine insurance coverage with preventive care services and pet wellness programs. The ability to offer flexible policy options, streamlined claims processes, and value-added services while maintaining competitive pricing will continue to be critical differentiators in the market. Companies are also investing in data analytics capabilities to better understand pet health trends and optimize their product offerings.


New entrants and challenger brands can gain ground by focusing on underserved market segments and leveraging technology to create innovative service delivery models. The relatively low risk of substitution products provides stability for market participants, though increasing competition necessitates clear differentiation strategies. Regulatory requirements vary across regions but generally show a trend toward increased oversight of pet insurance products, particularly regarding policy transparency and claims handling. Success in this market increasingly depends on building strong relationships with both pet owners and veterinary service providers, while also maintaining the operational efficiency needed to offer competitive premiums.

Pet Insurance Market Leaders

  1. Anicom Holdings Inc.

  2. Embrace Pet Insurance Agency, LLC

  3. Figo Pet Insurance LLC

  4. Hartville Group

  5. Healthy Paws Pet Insurance, LLC

  6. *Disclaimer: Major Players sorted in no particular order
Pet Insurance Market Concentration
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Pet Insurance Market News

  • July 2022 : JAB Holdings agreed to acquire the German pet insurance provider Agila from Wertgarantie Group, continuing its breakneck expansion into the global pet insurance market.
  • December 2021 : Chewy Inc., a leading online destination for pet parents and partners, and Trupanion Inc. Japan, an industry leader in medical insurance for pets, announced a partnership to offer an exclusive suite of pet health insurance and wellness plans to more than 20 million Chewy customers.

Pet Insurance Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Number of Pet Adoption
    • 4.2.2 Rising Awareness Regarding Pet Insurance
  • 4.3 Market Restraints
    • 4.3.1 Lack of Standardized Pet Health Codes for Reimbursement
    • 4.3.2 Low Adoption in Emerging Countries
  • 4.4 Porter's Five Force Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size by Value - USD million)

  • 5.1 By Policy
    • 5.1.1 Illnesses and Accidents
    • 5.1.2 Chronic Conditions
    • 5.1.3 Other Policies
  • 5.2 By Animal
    • 5.2.1 Dog
    • 5.2.2 Cat
    • 5.2.3 Other Animals
  • 5.3 By Provider
    • 5.3.1 Public
    • 5.3.2 Private
  • 5.4 By Geography
    • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Mexico
    • 5.4.2 Europe
    • 5.4.2.1 Germany
    • 5.4.2.2 United Kingdom
    • 5.4.2.3 France
    • 5.4.2.4 Italy
    • 5.4.2.5 Spain
    • 5.4.2.6 Rest of Europe
    • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 Japan
    • 5.4.3.3 India
    • 5.4.3.4 Australia
    • 5.4.3.5 South Korea
    • 5.4.3.6 Rest of Asia-Pacific
    • 5.4.4 Middle-East and Africa
    • 5.4.4.1 GCC
    • 5.4.4.2 South Africa
    • 5.4.4.3 Rest of Middle-East and Africa
    • 5.4.5 South America
    • 5.4.5.1 Brazil
    • 5.4.5.2 Argentina
    • 5.4.5.3 Rest of South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Anicom Holdings Inc.
    • 6.1.2 Embrace Pet Insurance Agency LLC
    • 6.1.3 Figo Pet Insurance LLC
    • 6.1.4 Hartville Group
    • 6.1.5 Healthy Paws Pet Insurance LLC
    • 6.1.6 Dotsure.co.za
    • 6.1.7 Oneplan
    • 6.1.8 Metlife Services and Solutions LLC (Petfirst Healthcare LLC)
    • 6.1.9 Petplan
    • 6.1.10 The Oriental Insurance Company Ltd
    • 6.1.11 Medibank Private Limited
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments
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Pet Insurance Industry Segmentation

As per the scope, "pet insurance" refers to an insurance policy bought by a pet owner that helps to lessen the overall costs of expensive veterinary bills. Such coverage is more or less similar to health insurance policies for humans. Pet insurance usually covers expensive veterinary procedures in full or in part. The Pet Insurance Market is Segmented By Policy (Illnesses and Accidents, Chronic Conditions, and Other Policies), Animal (Dog, Cat, and Other Animals), Provider (Public and Private), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Policy Illnesses and Accidents
Chronic Conditions
Other Policies
By Animal Dog
Cat
Other Animals
By Provider Public
Private
By Geography North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa GCC
South Africa
Rest of Middle-East and Africa
South America Brazil
Argentina
Rest of South America
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Pet Insurance Market Research FAQs

How big is the Pet Insurance Market?

The Pet Insurance Market size is expected to reach USD 12.10 billion in 2025 and grow at a CAGR of 12.43% to reach USD 21.73 billion by 2030.

What is the current Pet Insurance Market size?

In 2025, the Pet Insurance Market size is expected to reach USD 12.10 billion.

Who are the key players in Pet Insurance Market?

Anicom Holdings Inc., Embrace Pet Insurance Agency, LLC, Figo Pet Insurance LLC, Hartville Group and Healthy Paws Pet Insurance, LLC are the major companies operating in the Pet Insurance Market.

Which is the fastest growing region in Pet Insurance Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Pet Insurance Market?

In 2025, the North America accounts for the largest market share in Pet Insurance Market.

What years does this Pet Insurance Market cover, and what was the market size in 2024?

In 2024, the Pet Insurance Market size was estimated at USD 10.60 billion. The report covers the Pet Insurance Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the Pet Insurance Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Pet Insurance Market Research

Mordor Intelligence provides a comprehensive analysis of the pet insurance market, utilizing extensive expertise in pet insurance industry research and consulting. Our detailed report examines the evolving landscape of pet health insurance and pet medical insurance. It incorporates insights from leading pet insurance companies worldwide. The analysis covers crucial pet insurance statistics and pet insurance trends, focusing particularly on emerging markets such as pet insurance UAE, pet insurance Japan, and the pet insurance market in India.

This authoritative report, available as an easy-to-read PDF download, offers stakeholders essential pet insurance industry growth data and pet insurance market size metrics. Our research methodology includes a detailed analysis of both companion animal insurance market dynamics and digital pet insurance market developments. The report provides valuable insights for companies offering pet health insurance, featuring comprehensive pet insurance industry statistics across key regions, including the UK pet insurance market. Stakeholders benefit from our thorough pet insurance industry analysis, supported by extensive pet insurance data and pet insurance research. It covers major insurance providers and emerging market opportunities.