The global pet insurance market size reached USD 5.10 Billion in 2021 and is expected to reach USD 18.10 Billion in 2030 and register a revenue CAGR of 15.3% during the forecast period. Increasing rate of pet adoptions in countries across the globe, rising prevalence of various animal diseases, and need to cover pets in the event of disease and treatment or as a result of accidents are some of the key factors expected to continue to drive market revenue growth. Increasing number of companies offering pet protection policies and insurance and rise in pet owner spending on pet healthcare are other factors expected to drive revenue growth of the market.
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