The size of the Asia Pacific Pet Insurance market is estimated to worth USD 813.66 million in 2021. It is expected to grow at a robust CAGR of 14.6% to reach USD 1608.30 million by 2026.
The increasing animal population, changing demographic structure, changing socioeconomic conditions, and the development of the concept of humanism in the development of the Asia-Pacific Pet Insurance market has driven market growth. The number of pets has increased significantly in recent years, and the number is expected to increase during the forecast period due to various medical benefits. Also, pet owners are concern about health benefits. These all factors are fueling the demand of the APAC Pet Insurance Market.
Furthermore, the growing demand for pet insurance to limit out-of-pocket costs for primary medical conditions such as cancer and accident injuries is expected to support growth soon and create opportunities in the Asia-Pacific Pet Insurance market. The shallow penetration and untapped markets are expected to offer many opportunities for the pet insurance market. The rise in companion animal population would increase the demand for veterinary healthcare facilities and create growth opportunities in the Asia-Pacific Pet Insurance market.
The high cost of pet insurance is expected to hinder the growth of the Asia-Pacific Pet Insurance market. The poor understanding of insurance policies that do not provide the necessary information and cover only essential data is the main consuming challenge in the Asia-Pacific Pet Insurance market.
The research report on the Asia pacific Pet Insurance Market has been categorized based on Policy, Policy Type, And Region.
By Type:
By Policy Type:
By Country:
Geographically, the pet insurance market in the 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 a 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 The New India Assurance Company Limited, Oriental Insurance, Rakuten Inc., ipet Insurance, Anicom Insurance Inc., The People's Insurance Company of China, Guide Dogs Pet Insurance Australia, Medibank Private Limited, and Pet Insurance Australia.
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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Apr 2021
