The Asia Pacific Pet Insurance market size was valued at USD 710 million in 2018. It is expected to grow at a robust CAGR of 14.6% to reach USD 1.4 billion by 2024.
What’s affecting market growth?
The Pet Insurance Market Is Categorised On The Basis Of Policy, Policy Type, And Region.
The policy segment of the market is categorised into
The dog insurance segment accounts for the major share of the market, followed by the cat insurance segment. The major share of the dog insurance segment is owing to the increasing popularity of dog ownership not only for bonding purposes but also as a status symbol. The exotic pet insurance segment is expected to be the fastest growing segment justified by the growing number of premiums filed for exotic pets, fuelled by the increased availability and ease of buying of exotic pets, followed consequently by lucrative insurance plans from insurance firms.
On the basis of policy type, the market is categorised into
The lifetime cover segment accounts for the major market share, followed by the non-lifetime cover segment. The major share of the lifetime cover segment is owing to the growing number of pet owners subscribing to insurance plans with very young pets in comparison to those pet owners having grownup or old pets and generally opt for non-lifetime cover plans.
On the basis of region, the pet insurance market in the Asia Pacific is analysed under the countries of India, China, Japan, South Korea, Singapore, Australia, and the Rest of Asia Pacific. The pet insurance market in Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing awareness about pet insurance policies in the region, combined with the growth in the number of companion animals due to increased necessity for companion animals for mental wellbeing and as well as a status symbol in the developing economies such as India and China.
The relatively untapped market in this region provides a substantial opportunity for market growth as there is growing demand for pet insurance providers due to increases in disposable incomes and willingness to spend on pet care.
Companies dominating the APAC Pet Insurance Market profiled in this report are:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Policy
5.1.1 Introduction
5.1.2 Dog Insurace
5.1.3 Cat Insurance
5.1.4 Rabbit Insurance
5.1.5 Horse Insurance
5.1.6 Exotic Pet Insurance
5.1.7 Others
5.1.8 Y-o-Y Growth Analysis, By Policy
5.1.9 Market Attractiveness Analysis, By Policy
5.1.10 Market Share Analysis, By Policy
5.2 Policy Type
5.2.1 Introduction
5.2.2 Lifetime Cover
5.2.2.1 Accident Cover
5.2.2.2 Illness Cover
5.2.3 Non-lifetime Cover
5.2.3.1 Accident Cover
5.2.3.2 Illness Cover
5.2.4 Others
5.2.5 Y-o-Y Growth Analysis, By Policy Type
5.2.6 Market Attractiveness Analysis, By Policy Type
5.2.7 Market Share Analysis, By Policy Type
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Policy
6.1.3.3 By Policy Type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Policy
6.1.4.3 By Policy Type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Policy
6.1.5.3 By Policy Type
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Petplan Pet Insurance
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Embrace Pet Insurance Agency
8.3 Royal & Sun Alliance (RSA)
8.4 Pethealth Inc.
8.5 Agria Pet Insurance
8.6 Petfirst Healthcare
8.7 Nationwide Pet Insurance
8.8 PetSure Pty Ltd.
8.9 Petsecure Pet Health Insurance
8.10 Hartville Group
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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