Pet Insurance Plan Services Market to Reach $11.29 Billion by 2029 with 16.2% CAGR

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The Business Research Company’s Pet Insurance Plan Services Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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What Is The Pet Insurance Plan Services Market Size And Growth?
The expansion of the pet insurance plan services market has been impressive in recent years. With an increase from $5.31 billion in 2024 to $6.19 billion in 2025, the market is predicted to experience a compound annual growth rate (CAGR) of 16.6%. Factors contributing to the growth during the historic period include a boost in pet adoption rates, an upsurge in veterinary care expenses, increased awareness about insurance, a growth in disposable income worldwide, as well as heightened demand for wellness.

The market size for pet insurance plan services is projected to experience a swift expansion in the forthcoming years. The market will surge to $11.29 billion in 2029 with a 16.2% compound annual growth rate (CAGR). The upsurge in the prediction period can be linked to the rise in urban pet population, increased prevalence of chronic pet illnesses, heightened concern for pet health, escalating demand for pet humanization, and the growing accessibility of insurance plans. Significant trends during the predicted period encompass progress in digital claim processing, the amalgamation of tele-veterinary services, advances in technology-supported wellness monitoring tools, evolution in customizable insurance plans, and improvements in AI-driven risk evaluation.

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What Are The Current Leading Growth Drivers For Pet Insurance Plan Services Market?
The rising emphasis on pet health is set to trigger the advancement of the pet insurance plan services market. Pet health denotes the prioritized measure of maintaining general health of a pet through preventative care, frequent inspections, and enhanced lifestyle habits. The attention to pet health is on the rise due to heightened awareness among pet owners about early illness detection and benefits of extended lifespan, which encourages regular veterinarian visits and preventative care. Pet insurance services contribute to pet wellness by insuring routine inspections, immunizations, and preventative care while also endorsing regular veterinarian visits, supporting early identification of health problems, and complete wellbeing. For example, in June 2025, as per the American Veterinary Medical Association, a non-profit organization based in the U.S., towards the closing of 2024, there was an increase in insured pets in the U.S. from 5.7 million in 2023 to 6.4 million, with 75.6% being dogs and 23.5% being cats. Therefore, the rising focus on pet wellbeing is fueling the progress of the pet insurance plan services market.

Which Companies Are Currently Leading In The Pet Insurance Plan Services Market?
Major players in the Pet Insurance Plan Services Global Market Report 2025 include:
• MetLife Inc.
• Nationwide Mutual Insurance Company
• Trupanion Inc.
• Anicom Holdings Inc.
• Lemonade Inc.
• Embrace Pet Insurance Agency LLC
• Fetch Inc.
• PetPartners Inc.
• ManyPets Inc.
• Petplan Pet Insurance

What Are The Top Trends In The Pet Insurance Plan Services Industry?
Main businesses involved in the pet insurance sector are turning their attention to establishing cutting-edge models centered around comprehensive care, such as pet-first wellness and insurance schemes, in order to offer more bespoke and preventive health services for pets. Pet-first wellness and insurance products involve inclusive plans that put emphasis on prevention of health issues, managing ongoing illnesses, and recovery care designed specifically to cater to each pet's unique requirements. For instance, Chewy Inc., an American online platform for pet parents and allies, unveiled CarePlus, an array of wellness and insurance packages in 31 states, in August 2022. CarePlus facilitates 24/7 access to virtual veterinary services through its Connect with a Vet feature, provides direct payments in clinics via Trupanion's integrated system, and guarantees full coverage for qualifying medications and veterinary dietary items. These attributes work to lower the out-of-pocket expenses for pet caretakers, facilitating further consistent, accessible, and cheaper pet health services.

How Is The Pet Insurance Plan Services Market Segmented?
The pet insurance plan services market covered in this report is segmented

1) By Coverage Type: Accident-Only Coverage, Accident And Illness Coverage, Comprehensive Coverage
2) By Plan Type: Lifetime Plans, Maximum Benefit Plans, Time-Limited Plans
3) By Pet Type: Dogs, Cats, Other Pets
4) By Payment Options: Monthly Payments, Annual Payments, Single Payment Option
5) By Sales Channel: Agency, Broker, Bancassurance, Direct

Subsegments:
1) By Accident-Only Coverage: Injury Treatment Plans, Emergency Care Plans, Fracture And Trauma Coverage, Poisoning Treatment Coverage, Accident Diagnostic Services
2) By Accident And Illness Coverage: Infection And Virus Treatment, Chronic Illness Management, Emergency Surgery Coverage, Hereditary Condition Coverage, Diagnostic And Lab Testing
3) By Comprehensive Coverage: Preventive Care Coverage, Vaccination And Routine Checkups, Dental And Oral Care Plans, Behavioral Therapy Coverage, Alternative Therapies And Rehabilitation

View the full pet insurance plan services market report:
https://www.thebusinessresearchcompany.com/report/pet-insurance-plan-services-global-market-report

Which Is The Dominating Region For The Pet Insurance Plan Services Market?
In 2024, North America held the distinction of being the top region in the global market for pet insurance plan services. It is anticipated that the Asia-Pacific region will exhibit the most rapid growth in the foreseeable future. The regions analyzed in this pet insurance plan services report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Browse Through More Reports Similar to the Global Pet Insurance Plan Services Market 2025, By The Business Research Company

Pet Insurance Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/pet-insurance-global-market-report

Pet Healthcare Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/pet-healthcare-global-market-report

Veterinary Services Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/veterinary-services-global-market-report

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