United States Pet Insurance Market Size Set to More than Double at CAGR of 10.6% to Reach Size of USD 3.85 Billion by 2028 | BlueWeave Consulting – Yahoo Finance

Rising demand for pet insurance to reduce out-of-pocket costs for serious illnesses such as cancer and unintentional injuries has been positively expected in driving the growth of the global US pet insurance market. Numerous barriers and challenges will prevent the market’s growth. During the period analysis, United States pet insurance market’s development might be slowed by risks to pet insurance providers, entry obstacles, and fierce competition. However, the advancements in technology and the untapped possibilities in new areas provide strong growth prospects.
New Delhi, Sept. 16, 2022 (GLOBE NEWSWIRE) — United States Pet Insurance Market is flourishing at a significant growth rate mainly due to the increasing veterinary medical costs, growing consumer awareness, and the widespread use of expensive medical procedures and medications in the country- https://www.blueweaveconsulting.com/report/united-states-pet-insurance-market
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the size of United States Pet Insurance Market at USD 1.94 billion in 2021. Also, BlueWeave forecasts United States Pet Insurance Market to expand at a double-digit CAGR of 10.6% between 2022 and 2028 to reach a size of USD 3.85 billion by 2028. Major growth factors for United States Pet Insurance Market include an increase in pet ownership, growing need to lower financial risk, and the high cost of veterinary treatment. According to the American Society for the Prevention of Cruelty to Animals, up to 6.5 million companion animals enter animal shelters in the United States each year. Most of those are dogs, numbering over 3.3 million.
United State Pet Insurance Market – Technology Advancements
Insurance plans with the highest levels of coverage and the lowest costs are typically available from private carriers. Numerous innovative pet retention programs are made possible by top insurance. As a result, the pet insurance market in US will grow. During the projected period, the United States pet insurance market is forecast to rise because of the rising demand for pet insurance policies and the growing need for financial security in the event of a surge in uncertainties. Additionally, the growth of the pet insurance market is being positively impacted by the rise in the number of veterinary clinics throughout the course of the forecast period. Furthermore, it is expected that increased government activities related to pet insurance as well as the integration of technology into current service lines and product lines would present substantial prospects for expanding market growth over the course of the projection period.
Warburg Pincus Company completed the acquisition of the pet plan insurance firm in 2019. Through this acquisition, Warburg’s assets and finances are now available to the pet plan. The titan of investment has invested a sizable sum in the pet plan, which is expected to aid in business expansion, the creation of new products, and enhanced customer support. In order to give policyholders access to pet professionals in real-time, the Embrace Pet Insurance Company teamed up with the paw support firm in October 2021. The veterinary specialists advise pet owners on the best ways to utilize the resources available for veterinary treatment. Paw Support provides email, video chat, and online chat services that are available around-the-clock to assist pet owners with a range of pet-related questions. Growing adoption of companion animals is expected to drive market growth. Because there is a rising concern for animal healthcare, the market for pet insurance is developing. Pets are increasingly bought for companionship and are commonly looked at as family members, with the trend changing from being a pet owner to being a pet parent.
Request for Sample Report @ https://www.blueweaveconsulting.com/report/united-states-pet-insurance-market/report-sample
Segmental Coverage
United States Pet Insurance Market
According to animal type, the United States Pet Insurance Market is split into three categories: dogs, cats, and other animals. Due to their popularity across the country, higher care costs and greater risk of accidents, the dogs segment accounts for the majority of the market share for pet insurance. Businesses provide dog insurance plans that can cover a variety of dog breeds. The cats segment is could grow significantly in the coming years. By policy coverage, the market is segmented into accident-only, accident and illness, and others. The accident and illness insurance segment is expected to hold the highest market share during the forecast period, mainly due to the factors that enable the insurance to cover the biggest number of illnesses and mishaps.
Impact of COVID-19 on United States Pet Insurance Market
During Covid-19 pandemic, the majority of sectors across the world including the United States witnessed significant losses. It can be ascribed to the enormous disruptions that various precautionary lockdowns and other limitations that were imposed by governments across the country caused in their respective production and supply-chain operations. The US pet insurance industry was also affected by Covid-19 pandemic and subsequent lockdowns. Additionally, consumer demand has now decreased as people have been more intent on cutting down non-essential expenses from their individual budgets, as the general economic condition of the majority of people has been adversely impacted by Covid outbreak. During the forecast period, the aforementioned factors are also anticipated to have a negative impact on the profit line of the United States pet insurance companies. However, it is projected that the United States pet insurance market would recover post Covid-19 pandemic era.
Don’t miss the business opportunity in the United States Pet Insurance market. Consult our analysts to gain crucial insights and facilitate your business growth.
Competitive Landscape
Pet insurance is not as generally known as other forms of insurance, as it is a fairly new form of insurance, with the first policy issued in 1982. With an emphasis on the US request and some of the major players, such as ASPCA Pet Insurance, FigoPet Insurance, Pet Plan Insurance, TrupanionInc., Progressive Casualty Insurance Company, Embrace Pet Insurance, EnviroServ Waste Management Ltd., Healthy Paws Pet Insurance, and PetFirst. For cats and dogs, the American Society for the Prevention of Cruelty to creatures (ASPCA) provides accident only, accident and illness, and preventative care. Major pet insurance companies in the United States provide innovative insurance plans to expand their product base and market reach.
Recent Developments
More than 20 million Chewy consumers will be able to choose from an exclusive lineup of pet wellness and health insurance products thanks to a partnership between Trupanion and Chewy in December 2021. With the help of this strategic alliance, clients will be able to choose between wellness programs, preventive care, and all-inclusive insurance policies for illnesses, accidents, and chronic disorders. This collaboration improved the range of healthcare services and goods. Petplan was purchased by Warburg Pincus in October 2019. Through the acquisition, Warburg Pincus’ funds and resources were made available to Petplan. With the help of this transaction, Warburg Pincus was able to significantly increase its investment in the pet insurance industry and hence PetPlan’s operations.
Scope of the Report
Attributes
Details
Years considered
Historical Data – 2018–2021
Base Year – 2021
Estimated Year – 2022
Forecast Period –  2022–2028
Facts covered
Revenues in USD million
Market Coverage
United States
Product Service/Segmentation
By Policy Coverage, By Animal Type, By Sales Channel
Key Players
Agria Pet Insurance, Anicom Holdings Inc., Dotsure Ltd., Fairfax Financial Holdings Ltd., Hollard Insurance Co. Ltd., JAB Holding Co Sarl, Oneplan Underwriting Managers Ltd., Petplan Iberica S.L, and Proto Seguro Companhia de Seguros Gerais
By Policy Coverage
Accident Only
Accident and Illness
Others
 By Animal type
Dogs
Cats
Others
By Sales Channel
Agency
Broker
Others
Please Find Below Some New Reports:
UK Motor Insurance Market- Size, Share, Analysis, Opportunity and Forecast Report, 2018-2028
Artificial Intelligence (AI) in Fintech Market – Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028
Asia-Pacific Digital Payments Market – Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028
India Used Car Loan Market – Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028
India Microfinance Market – Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028
About Us
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
Contact Us:
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
[email protected]
https://www.blueweaveconsulting.com/
https://www.linkedin.com/company/blueweaveconsulting/

Yahoo Finance's Jared Blikre breaks down Occidental Petroleum's third-quarter earnings results.
Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today announced its third quarter 2022 financial and operating results. The Company plans to hold a conference call and webcast at 8:00 a.m. MT (10:00 a.m. ET) on November 9, 2022. Please see dial-in details within this release, as well as additional details on the Company's website at www.ovintiv.com.
Yahoo Finance reporter Allie Canal breaks down Disney's fourth-quarter earnings results.
In this article, we discuss the 13 stocks which Cathie Wood is selling. If you want to skip our detailed analysis of these stocks, go directly to Cathie Wood Is Selling These 5 Stocks. Cathie Wood has been really optimistic about her bets over the past few months. However, the massive losses suffered by her […]
A prominent cryptocurrency token has plummeting, with nearly 50% wiped from its value in the last 24 hours, causing a major rout across crypto markets.
Tesla selling pressure just won't let up. Blame it on Twitter. Unless something changes, investors are in for more pain, according to traders.
Zuckerberg appeared downcast in Tuesday's meeting and said he was accountable for the company's missteps and his overoptimism about growth had led to overstaffing, the report added, citing people familiar with the matter. He described broad cuts and specifically mentioned the recruiting and business teams as among those facing layoffs, the report said, adding an internal announcement of the company's layoff plans is expected around 6 a.m. Eastern time on Wednesday. Meta's head of human resources, Lori Goler, said employees who lose their jobs will be provided with at least four months of salary as severance, the WSJ reported, citing people familiar with the matter.
Medtronic plc (NYSE: MDT) announced the six-month results from the full cohort of the SPYRAL HTN-ON MED trial. Subjects in the Symplicity Spyral Renal Denervation (RDN) System had a statistically significant and clinically meaningful reduction in office-based systolic blood pressure (OSBP), a key secondary endpoint, compared to the sham control group. However, in the primary endpoint, RDN did not demonstrate a statistically significant reduction in 24-hour ambulatory systolic blood pressure (ABP
Shares of the Chinese electric vehicle (EV) maker Nio (NYSE: NIO) were falling today on several bits of news that are causing pessimism among investors. An analyst cut his price target for Nio's stock today, just a few days after a new report said that China isn't rolling back its strict zero-COVID policy. All of the news worried some investors, pushing the EV stock down 4.1% as of 10:57 a.m. ET.
In this article, we will discuss Goldman Sachs’ cheap dividend stocks. You can skip our detailed analysis of dividend investing and the firm’s outlook on dividend stocks, and go directly to read Goldman Sachs’ 5 Cheap Dividend Stocks. Growth tech stocks have dominated the market for years due to their innovative products and services. However, […]
Delta Blockchain Fund Founder and General Partner Kavita Gupta joins Yahoo Finance Live to discuss the Binance-FTX deal and ensuing sell-off in the crypto market.
Annaly Capital Management ( NYSE:NLY ) Third Quarter 2022 Results Key Financial Results Net loss: US$302.1m (down by…
Twilio (NYSE: TWLO) management dropped a bomb on investors by updating their long-term revenue growth outlook. The new guidance caught investors off-guard, which prompted a great deal of selling in Twilio stock.
Shares of major cruise-line stocks Norwegian Cruise Lines (NYSE: NCLH), Royal Caribbean (NYSE: RCL), and Carnival Cruise Lines (NYSE: CCL) were rallying today, up 4.1%, 3.1%, and 2.7%, respectively, as of 2:22 p.m. EDT. Perhaps more important, however, was the company reaching certain profitability milestones for the first time following the pandemic. The company achieved the profitability milestone through solid 82% occupancy plus a 14% increase in revenue per passenger.
The company reported growing losses and disclosed an internal investigation around its financial controls.
New boss. New rules.
On Monday, Tesla (NASDAQ: TSLA) stock hit its lowest level in about 18 months, and the shares continued to move further below the notable $200 level Tuesday. According to the National Highway Traffic Safety Administration, the recall involves just over 40,000 2017-2021 Model S and Model X electric vehicles (EVs). Tesla began to send out over-the-air software updates on Oct. 11 to recalibrate the vehicles' systems.
Boeing (NYSE: BA) continues to show signs that its business is normalizing, and investors are taking note. It's been a rough few years for Boeing, as the company has flown through both issues with its 737 MAX and then the pandemic. Boeing is now looking to boost deliveries in order to increase cash flow and pay down some of the billions in added debt it took on during the crisis to make sure it survived.
The $2.04 billion Powerball winner should heed these 5 common mistakes from previous lottery winners.
(Bloomberg) — Lucid Group Inc. shares fell in late trading after third-quarter sales and earnings trailed estimates and reservations declined for the company’s luxury electric vehicles.Most Read from BloombergTwitter Now Asks Some Fired Workers to Please Come BackSam Bankman-Fried Bows to Rescue From Binance’s CZ as FTX BucklesElon Musk Tells Twitter Followers to Vote for a Republican CongressPutin's Elite Tremble as Hardliners Call for ‘Stalinist’ StepsStocks Notch Three-Day Rally Ahead of Vot

source