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United States Pet Insurance Market Size & Forecasts Report 2021-2025: Detailed Analysis of the Market in Terms of Value, Volume and the Average Annual Premium

Research and Markets
·4-min read

Dublin, March 29, 2021 (GLOBE NEWSWIRE) -- The "The US Pet Insurance Market: Size & Forecasts with Impact Analysis of COVID-19 (2021-2025 Edition)" report has been added to ResearchAndMarkets.com's offering.

"The US Pet Insurance Market: Size & Forecasts with Impact Analysis of Covid-19 (2021-2025 Edition)", provides an analysis of the US pet insurance market, with a detailed analysis of the market in terms of value, volume and the average annual premium.

There are many types of pet insurance policies from which people can select the best and appropriate policy which meet their requirements. These are deductible, co-pay, premium, pre-existing conditions, maximum payouts and waiting period. In maximum payout, there are five sub-types for special cases like maximum payout per incident, maximum annual payout, maximum lifetime payout, maximum payout per body system, and maximum payout based on a predetermined benefit schedule.

In premium pet policies, there are many factors which impact the premium insurance. Such as breed of the pet, species from which pets belong, age of the pet, and location where the services is to be provided. Keeping these factors apart, pet insurance is very beneficial for pet owners as they are able to save more money, they can save their pets without hesitation, increases the accessibility to different treatment options, saves on additional treatment costs, etc.

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The US pet insurance market is supported by various growth drivers, such as increasing love for dogs and cats, growing interest of millennials for pets, etc. yet, the market faces certain challenges, such as, barrier to entry, risks for a pet insurance company, etc. few new market trends are also provided such as, expanding distribution channels options, association with competing payment options, etc.

Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall US pet insurance market has also been forecasted for the years 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

Trupanion Inc., FigoPet Insurance, ASPCA Pet Insurance and Pet Plan Insurance are some of the key players operating in the US pet insurance market, whose company profiling has been done in the report. In this segment of the report, business overview, financial overview and business strategies of the companies are provided.

Key Topics Covered:

1. Executive Summary

2. Introduction
2.1 Pet Insurance: An Overview
2.1.1 Pet Insurance: Meaning
2.1.2 Types of Pet Insurance
2.1.3 Factors Affecting Premium Pet Insurance
2.1.4 Benefits of Pet Insurance

3. The US Market Analysis
3.1 The US Pet Expenditure: An Analysis
3.1.1 The US Pet Expenditure by Value
3.1.2 The US Pet Expenditure by Category (Pet food and treats, vet care and product sales, supplies, live animals and OTC medicine, other services)
3.1.3 The US Pet Expenditure by Basic Annual Expenses For Dogs And Cats
3.2 The US Pet Insurance Market: An Analysis
3.2.1 The US Pet Insurance Market by Value
3.2.2 The US Pet Insurance Market by Volume
3.2.3 The US Pet Insurance Market by Cities
3.2.4 The US Pet Insurance Market by Average Annual Premium
3.2.5 The US Pet Insurance Market by Top Encouraging Reasons

4. Impact of Covid-19
4.1 Impact on the US Pet Insurance Market
4.1.1 Impact on Pet Care Market
4.1.2 Impact on Pet Insurance Market

5. Market Dynamics
5.1 Growth Drivrs
5.1.1 Increasing Love for Dogs and Cats
5.1.2 Growing Interest of Millennials for Pets
5.1.3 Rapid Growth in Consumer Acceptance of Pet Insurance
5.1.4 Growing Disposable Income of a Household
5.1.5 Increasing Transparency Regarding Coverage
5.1.6 Growing Industry
5.2 Challenges
5.2.1 Barrier to Entry
5.2.2 Risks for a Pet Insurance Company
5.2.3 High Competition
5.3 Market Trends
5.3.1 Expanding Distribution Channels Options
5.3.2 Association With Competing Payment Options
5.3.3 Technological and Efficiency Improvements
5.3.4 Expansion of Exotic Pet Insurance

6. Competitive Landscape
6.1 The US Pet Insurance Market: Player Analysis
6.1.1 The US Pet Insurance Market Player by Share
6.2 The US Pet Insurance Market Player: Price Comparison

7. Company Profiling
7.1 Trupanion Inc.
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategy
7.2 FigoPet Insurance
7.3 ASPCA Pet Insurance
7.4 Pet Plan Insurance

For more information about this report visit https://www.researchandmarkets.com/r/b11b3w

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900