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세계의 반려동물 보험 시장 : 예측(2022-2027년)

Global Pet Insurance Market - Forecasts from 2022 to 2027

리서치사 Knowledge Sourcing Intelligence
발행일 2022년 06월 상품코드 1105138
페이지 정보 영문 125 Pages 배송안내 1-2일 (영업일 기준)
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세계의 반려동물 보험 시장 : 예측(2022-2027년) Global Pet Insurance Market - Forecasts from 2022 to 2027
발행일 : 2022년 06월 페이지 정보 : 영문 125 Pages

본 상품은 영문 자료로 한글과 영문 목차에 불일치하는 내용이 있을 경우 영문을 우선합니다. 정확한 검토를 위해 영문목차를 참고해주시기 바랍니다.

세계의 반려동물 보험 시장 규모는 2020년 578억 1,100만 달러에서 2027년에는 849억 9,600만 달러에 달할 것으로 예측되며, 2020-2027년간 연평균 복합 성장률(CAGR)은 5.66%를 나타낼 전망입니다.

세계의 반려동물 보험(Pet Insurance) 시장에 대해 조사분석했으며, 시장 역학, 시장 분석, 경쟁 정보, 기업 프로파일 등의 정보를 제공합니다.

목차

제1장 서론

  • 시장 개요
  • COVID-19 시나리오
  • 시장의 정의
  • 시장 세분화

제2장 조사 방법

  • 조사 데이터
  • 전제조건

제3장 개요

  • 조사 하이라이트

제4장 시장 역학

  • 시장 성장 촉진요인
  • 시장 성장 억제요인
  • Porter의 산업 분석
    • 공급 기업의 교섭력
    • 바이어의 교섭력
    • 대체품의 위협
    • 신규 진출업체의 위협
    • 업계 경쟁 기업간 경쟁 관계
  • 업계 밸류체인 분석

제5장 반려동물 보험 시장 : 동물 유형별

  • 서론
  • 고양이
  • 기타

제6장 반려동물 보험 시장 : 용도별

  • 서론
  • 생애 보장
    • 질환 보장
    • 사고 보장
  • 비생애 보장
    • 질환 보장
    • 사고 보장

제7장 반려동물 보험 시장 : 국가별

  • 서론
  • 북미
    • 미국
    • 캐나다
    • 멕시코
  • 남미
    • 브라질
    • 아르헨티나
    • 기타
  • 유럽
    • 독일
    • 프랑스
    • 영국
    • 스페인
    • 기타
  • 중동 및 아프리카
    • 사우디아라비아
    • 이스라엘
    • 남아프리카공화국
    • 기타
  • 아시아태평양
    • 중국
    • 일본
    • 한국
    • 인도
    • 기타

제8장 경쟁 환경과 분석

  • 주요 기업과 전략 분석
  • 신규 기업과 시장 유리성
  • 합병/인수/합의/제휴
  • 벤더의 경쟁력 매트릭스

제9장 기업 개요

  • Nationwide Mutual Insurance Company
  • MelLife Inc.
  • Healthy Paws Pet Insurance, LLC.
  • Crum & Foster
  • Trupanion
  • Petplan Limited
  • Embrace Pet Insurance Agency, LLC
  • Animal Friends Insurance
  • Petsecure Pet Health Insurance
  • 24PetWatch
LSH 22.07.29

The pet insurance market has a CAGR of 5.66% during the forecast period to reach US$84.996 billion by 2027, from US$57.811 billion in 2020. Pet Insurance is a protection policy that mostly covers veterinary healthcare for a person's sick or wounded pet. Insurance companies may compensate for a part or whole of the healthcare treatment cost of the pet, depending on the policy. Some policies also cover costs if the pet gets stolen or lost, or even in case of death.

Market Trend:

The global pet insurance market is likely to increase in the following years, owing to the increasing veterinary healthcare prices. The increasing trend of pet adoptions and pet purchases during the COVID-19 pandemic would also play a vital role in the pet insurance market. Europe is currently holding the largest market share in the pet insurance industry. Sweden currently holds the largest market share in Europe, with almost 90% of pets having reported pet insurance covers.

However, North America has been regarded as the fastest growing market in recent years, rapid advancements in the pet insurance market. NAPHIA recently revealed many industry achievements in North America, including a remarkable US$2.174 billion in total pet health insurance premiums sold in 2020 (up to over 26% from $1.717 billion in 2019) and over 3.45 million pets covered across the region (up by 22.5% from over 2.81 million pets insured in 2019).

Growth Factors

  • Increase in veterinary healthcare costs

With the increasing adoption and purchase of pet animals, the veterinary healthcare industry has also become substantially expensive. Knee replacements, sophisticated allergy testing, cancer treatments, and chiropractic therapy, which were previously exclusively available to humans, are now available to dogs and cats. According to the American Pet Products Association's (APPA) annual state of the industry report, pet expenditure in the United States hit US$103.6 billion in 2020, up by 6.7% from the previous year. Of that amount, US$ 31.4 billion was used for veterinary healthcare, which accounted for an increase of about 7.2% from the previous year. With the increasing costs of veterinary healthcare, people have started to understand the significance of pet insurance. This is consequently expected to drive up the demand for pet insurance.

Moreover, pet owners have seen a significant increase in instances of dog thefts. According to information released under the Freedom of Information Act by Direct Line Pet Insurance, thefts have increased by 13%, totaling 2,670 instances in 2021 in the UK. This has been recorded as the highest number of thefts in the last seven years. Government agencies have tried releasing guidelines to safeguard the pets, but have been unsuccessful. The best option that pet owners have to safeguard their pets is to get a theft or straying insurance cover that would cover the costs for the loss of a pet. Such increases in the instances of pet thefts are also expected to drive up the pet insurance market.

Restrain

  • Increasing policy prices

Pet insurance prices have been increasing rapidly over the past few years. Veterinary treatments have advanced to the point that veterinarians can now diagnose and treat pet ailments with much more accuracy than ever before. However, these treatments come at a price, and they will unavoidably affect pet insurance premiums. Moreover, some insurance providers are a lot more careful about their financial decisions and want to generate as much revenue as they can. Some of them are more active in raising their rates than others, and they are willing to risk losing clients as a result.

Furthermore, even if a pet is currently in perfect condition and has never filed a claim, the pet insurance premiums may rise. As animals grow older, the likelihood of their being ill increases, raising the cost of insurance. Since pets live for a shorter amount of time on average than humans, it may seem that they are afflicted with more ailments and succumb to them sooner.

COVID-19 Impact

The COVID-19 pandemic had a positive impact on the pet insurance market. Due to the government-imposed lockdowns and social distancing norms, most pet owners were forced to keep their pets at home. This led to a decrease in the number of diseases and pet insurance claims. Pet insurance companies also allowed certain relaxation and price reductions in policy premiums to help pet owners during these tough times. However, since so many people were purchasing pets during the coronavirus pandemic in 2020, pet prices skyrocketed. Because the cost of a cat or dog affects their insurance rate, the average pet insurance premium is likely to grow further in the next couple of years.

Market Segmentation:

  • By Animal Type

Dog

Cat

Others

  • By Policy type

Lifetime Cover

Illness Cover

Accident Cover

Non-Lifetime Cover

Illness Cover

Accident Cover

  • By Geography

North America

  • USA
  • Canada
  • Mexico

South America

  • Brazil
  • Argentina
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Spain
  • Others

Middle East and Africa

  • Saudi Arabia
  • Israel
  • South Africa
  • Others

Asia Pacific

  • China
  • Japan
  • South Korea
  • India
  • Others

TABLE OF CONTENTS

1. INTRODUCTION

  • 1.1. Market Overview
  • 1.2. Covid-19 Scenario
  • 1.3. Market Definition
  • 1.4. Market Segmentation

2. RESEARCH METHODOLOGY

  • 2.1. Research Data
  • 2.2. Assumptions

3. EXECUTIVE SUMMARY

  • 3.1. Research Highlights

4. MARKET DYNAMICS

  • 4.1. Market Drivers
  • 4.2. Market Restraints
  • 4.3. Porters Five Forces Analysis
    • 4.3.1. Bargaining Power of Suppliers
    • 4.3.2. Bargaining Powers of Buyers
    • 4.3.3. Threat of Substitutes
    • 4.3.4. Threat of New Entrants
    • 4.3.5. Competitive Rivalry in the Industry
  • 4.4. Industry Value Chain Analysis

5. PET INSURANCE MARKET, BY ANIMAL TYPE 

  • 5.1. Introduction
  • 5.2. Dog
  • 5.3. Cat
  • 5.4. Others

6. PET INSURANCE MARKET, BY APPLICATION

  • 6.1. Introduction
  • 6.2. Lifetime Cover
    • 6.2.1. Illness Cover
    • 6.2.2. Accident Cover
  • 6.3. Non-Lifetime Cover 
    • 6.3.1. Illness Cover
    • 6.3.2. Accident Cover

7. PET INSURANCE MARKET, BY COUNTRY

  • 7.1. Introduction
  • 7.2. North America
    • 7.2.1. USA
    • 7.2.2. Canada
    • 7.2.3. Mexico
  • 7.3. South America
    • 7.3.1. Brazil
    • 7.3.2. Argentina
    • 7.3.3. Others
  • 7.4. Europe
    • 7.4.1. Germany
    • 7.4.2. France
    • 7.4.3. United Kingdom
    • 7.4.4. Spain
    • 7.4.5. Others
  • 7.5. Middle East and Africa
    • 7.5.1. Saudi Arabia
    • 7.5.2. Israel
    • 7.5.3. South Africa
    • 7.5.4. Others
  • 7.6. Asia Pacific
    • 7.6.1. China
    • 7.6.2. Japan
    • 7.6.3. South Korea
    • 7.6.4. India
    • 7.6.5. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

  • 8.1. Major Players and Strategy Analysis
  • 8.2. Emerging Players and Market Lucrative
  • 8.3. Mergers, Acquisition, Agreements, and Collaborations
  • 8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

  • 9.1. Nationwide Mutual Insurance Company
  • 9.2. MelLife Inc.
  • 9.3. Healthy Paws Pet Insurance, LLC.
  • 9.4. Crum & Foster
  • 9.5. Trupanion
  • 9.6. Petplan Limited
  • 9.7. Embrace Pet Insurance Agency, LLC
  • 9.8. Animal Friends Insurance 
  • 9.9. Petsecure Pet Health Insurance
  • 9.10. 24PetWatch
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