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Pulished Date April, 2021
ID: 7909
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Latin America Pet Insurance Market Research Report - By Policy Type, Policy and Country (Brazil, Chile, Argentina & Rest of Latin America) - Industry Analysis on Size, Share, Growth, Trends & Forecast | 2021 to 2026

Pulished: April, 2021
ID: 7909
Pages: 145

Latin America Pet Insurance Market Size (2021 to 2026)

Latin America Pet Insurance market size is projected to value USD 433.29 million in 2021. It is expected to grow at a CAGR of 11.1% to reach USD 733.41 million by 2026.

What’s affecting market growth?

  • The increasing concern of pet owners about the health of their pets, and a general increase in disposable income combined with a decrease in healthcare costs which aid them in providing proper healthcare to pets. (+ve)
  • Increasing awareness of consumers about insurance policies and policy types. (+ve)
  • Rising veterinary costs that dampen consumer demand. (-ve)
  • Exclusions in pet insurance policies that do not provide the necessary coverage and cover only basic insurance. (-ve)
  • Relatively lower penetration of pet insurance providers when compared to that of developed regions. (-ve)

The Latin America Pet Insurance Market Is Categorised On The Basis Of Policy, Policy Type & Region.

Latin America Pet Insurance Market – By Policy

  • Cat Insurance
  • Dog Insurance
  • Horse Insurance
  • Rabbit Insurance
  • Exotic Pet Insurance
  • Others

Latin America Pet Insurance Market – By Policy Type

  • Lifetime Cover
    • Accidental Cover
    • Illness Cover
  • Non-lifetime Cover
    • Accidental Cover
    • Illness Cover
  • Others

Latin America Pet Insurance Market – By Country

  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

On the basis of region, the pet insurance market in Latin America is analyzed under the regions of Brazil, Mexico, Argentina, and the Rest of Latin America. The pet insurance market in Latin America shows decent potential for market growth aided by the increasing numbers of companion animals and the growing awareness of pet owners about pet insurance. However, the market is hindered by the low penetration of pet insurance providers in the region due to low demand and scope for pet insurance in the region.

Leading companies in the market

In the seasoned pet insurance markets of the world, pet insurance companies are increasingly offering pet owners the ability for customizing the coverage provided by allowing them for choosing their own levels of deductibles or co-insurances. This has resulted in the pet owner getting access to more control over the monthly premium and choosing the level of coverage that is best suited for their needs. However, the pet insurance market in Latin America remains relatively untapped due to low penetration of pet insurance providers in the region.

Overall, the pet insurance market in Latin America shows decent potential for growth owing to the possibility of tapping previously untapped markets and providing services to pet owners, who are becoming increasingly aware about pet insurance. The key players operating in the Latin America pet insurance market include

  • Petplan Pet Insurance
  • Embrace Pet Insurance Agency
  • Royal & Sun Alliance (RSA)
  • Pethealth Inc.
  • Agria Pet Insurance
  • Petfirst Healthcare
  • Nationwide Pet Insurance
  • PetSure Pty Ltd.
  • Petsecure Pet Health Insurance
  • Hartville Group

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 Brazil                             

                6.3 Mexico                         

                6.4 Rest of Latin America                             

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                              

  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of Policy Type, by  Non-Lifetime Cover along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

                                                                                                                          

 

  1. Latin America Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
  2. Latin America Cat Insurance Market, By Region, From 2021 to 2026 (USD Billion)
  3. Latin America Dog Insurance Market, By Region, From 2021 to 2026 (USD Billion)
  4. Latin America Horse Insurance Market, By Region, From 2021 to 2026 (USD Billion)
  5. Latin America Rabbit Insurance Market, By Region, From 2021 to 2026 (USD Billion)
  6. Latin America Exotic Pet Insurance Market, By Region, From 2021 to 2026 (USD Billion)
  7. Latin America Others Market, By Region, From 2021 to 2026 (USD Billion)
  8. Latin America Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
  9. Latin America Lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
  10. Latin America Non-lifetime Cover Market, By Region, From 2021 to 2026 (USD Billion)
  11. Latin America Others Market, By Region, From 2021 to 2026 (USD Billion)
  12. Brazil Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
  13. Brazil Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
  14. Argentina Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
  15. Argentina Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
  16. Mexico Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
  17. Mexico Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)
  18. Rest of Latin America Pet Insurance Market, By Policy, From 2021 to 2026 (USD Billion)
  19. Rest of Latin America Pet Insurance Market, By Policy Type, From 2021 to 2026 (USD Billion)

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