Scope of the Study
Pet cat insurance is a type of specialty property and casualty insurance policy that cat owners purchase to cover the unintended costs that arise in providing care for a cat, including veterinary services such as surgical procedures, injuries from accidents, and prescribed pet medicines. The insurance can include partial or total reimbursement with basic or premium features or programs. Developed countries are seeing significant growth owing to the rise in the number of pets. The United States alone accounts for over 95.6 million catsí populations living in households, which in turn expected to provide a lucrative opportunity for pet cat insurance providers.
The market study is being classified by Type (Non-lifetime Cover, Lifetime Cover, Accident-only and Illness Cover), by Application (Sphynx Cat, Oriental Cats, Siamese Cats, Domestic Shorthair Cats and Other Breeds) and major geographies with country level break-up.
Hartville Group (United States), Petplan (United Kingdom), Pethealth (United States), Petfirst Healthcare LLC (United States), Trupanion (United States), Embrace Pet Insurance Agency, LLC (United States), Nationwide (United Kingdom), Direct Line Insurance Group (United Kingdom), Royal & Sun Alliance (RSA) (United Kingdom) and PetSure (Australia) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Petsecure (Canada), Agria (United Kingdom), ipet Insurance (Japan), Anicom Holding (Japan) and Japan Animal Club (Japan).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Hartville Group, Petplan, Pethealth, and Petfirst Healthcare LLC. Research Analyst at AMA predicts that European and United States Players will contribute to the maximum growth of Global Pet cat Insurance market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Pet cat Insurance market by Type, Application and Region.
On the basis of geography, the market of Pet cat Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Number of Cat Owners and Rising Concern for Cats Well-being
- Rising Willingness of The Pet Owners To Spend on Their Companion Animals
- Use of Social Media by Pet Cat Insurance Companies to Increase Awareness About Insurance Schemes
- Insurers Partnerships With Animal Shelters, Veterinarians and Breeders
- Lack of Awareness About Cat Insurance Policies
- High Cost Associated With Pet Insurance
- Growing Pet Awareness In Emerging Countries like India
- Rising Disposable Income in Low and Middle-Income Countries
- Difficulty Associated with Claiming the Insurance Amount
- Growing Cases of Faked Insurance Claims
Market Leaders and their expansionary development strategies
2 October 2019, Petplan has announced that the company has been acquired by Warburg Pincus, a global private equity firm focused on growth investing. The acquisition will provide Petplan with access to significant capital and resources to drive meaningful growth. Financial terms of the transaction were not disclosed.
Key Target AudiencePet cat Insurance Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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