Report ID: SQMIG40O2005
Report ID:
SQMIG40O2005 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|
Tables:
86 |
Figures:
79
Europe dominated the global market in 2021, accounting for over 43.0% revenue share. This is due to the increasing use of pet insurance, increase in pet ownership, and presence of important corporations. As of 2017, 23.0% of pets in the UK and 30.0% of pets in Sweden were covered by pet insurance policies, and according to the Department of Clinical Veterinary Science and the Pet Food Institute, this proportion is predicted to increase over time. Important market participants such as Petplane are headquartered in the United Kingdom, while DFV is headquartered in Germany. These businesses regularly take different strategic measures to increase their market share and thereby help regional development.
By 2021, the pet insurance market in North America accounted for the second-largest revenue share. Only 1-2 percent of American pets are insured, creating potential growth opportunities. As per the forecast, the Asia Pacific region will grow at a rate of around 18%. This is due to the growing trend of pet adoption and the expansion of the local economy. Other factors influencing the market in this region include veterinary health awareness and improved veterinary healthcare infrastructure.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG40O2005