The Future of Pet Insurance Market: Insights and Growth Predictions by Technavio
Monday, 18 March 2024, 06:00
Global Pet Insurance Market Growth Forecast
The global pet insurance market is set to experience significant growth with a projected CAGR of 31.41% between 2022 and 2027. North America is expected to dominate this growth with 61% of the market share.
Fueling Factors
- Rising pet ownership globally
- Increased awareness about pet healthcare expenses
Market Implications
- Pet insurance is gaining importance in the insurance industry
- The trend signifies an essential shift towards catering to pet owners' needs
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.