Pet Insurance Market Forecast Report 2025-2030: Europe Leads Global Pet Insurance Market With Sweden Achieving 90% Coverage Rate

(MENAFN- GlobeNewsWire - Nasdaq) The Global Pet Insurance Market is set to grow from USD 8.544 billion in 2025 to USD 17.192 billion by 2030, driven by rising veterinary costs and increased pet theft. Europe leads the market with high adoption rates, while North America shows strong growth potential. Overcoming rising premiums remains a challenge.

Dublin, July 30, 2025 (GLOBE NEWSWIRE) -- The "Pet Insurance Market - Forecasts from 2025 to 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Pet Insurance Market is expected to grow from USD 8.544 billion in 2025 to USD 17.192 billion in 2030, at a CAGR of 15.01%.

Market Growth Drivers

Rising Veterinary Healthcare Costs
Escalating costs in the veterinary healthcare sector are a primary driver of pet insurance demand. Advanced treatments, such as knee replacements, allergy testing, cancer therapies, and chiropractic care, previously exclusive to humans, are now available for pets. These sophisticated procedures have significantly increased veterinary expenses, prompting pet owners to seek insurance to mitigate financial burdens. The growing awareness of pet insurance as a solution to manage these costs is expected to fuel market expansion.

Increase in Pet Theft
Pet theft, particularly dog theft, has surged, further driving demand for insurance policies covering loss or theft. In the UK, data from 2021 reported a 13% increase in pet thefts, totaling 2,670 cases, the highest in seven years. Despite government efforts to issue protective guidelines, these measures have proven ineffective, leading pet owners to rely on insurance policies to cover the financial impact of losing a pet. This trend is anticipated to bolster the pet insurance market.

Market Restraints

Rising Policy Premiums
The cost of pet insurance premiums has risen sharply, largely due to advancements in veterinary treatments that enable more accurate diagnoses and sophisticated care. These high-cost treatments directly impact premium rates, as insurance providers adjust pricing to cover potential claims. Some providers, prioritizing revenue, increase rates aggressively, risking customer retention.

Additionally, premiums often rise as pets age, reflecting the higher likelihood of illness, even for pets with no prior claims. The shorter average lifespan of pets compared to humans exacerbates this issue, as ailments tend to manifest more quickly, further elevating insurance costs.

Regional Insights

• Europe holds the largest market share globally, with Sweden leading at approximately 90% pet insurance coverage. The region benefits from high awareness and adoption of pet insurance.
• North America is identified as the fastest-growing market, driven by rapid advancements in pet insurance offerings and increasing pet ownership. The region's growth is supported by rising veterinary costs and consumer awareness of insurance benefits.

The global pet insurance market is set to grow, propelled by increasing veterinary costs and rising pet theft incidents. However, challenges such as escalating premiums may hinder adoption. Europe remains the market leader, while North America shows the strongest growth potential. Industry stakeholders must balance premium pricing with customer retention to capitalize on these growth opportunities.

Report Coverage:

• Historical data from 2022 to 2024 & forecast data from 2025 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
  • Nationwide Mutual Insurance Company
  • MetLife Services and Solutions
  • Healthy Paws Pet Insurance
  • Crum & Foster Pet Insurance Group
  • Trupanion, Inc.
  • Pet Plan Limited
  • Embrace Pet Insurance Agency, LLC
  • Animal Friends Insurance Services Limited
  • Petsecure Pet Health Insurance
  • 24PetWatch Pet Insurance

Key Attributes:

Report Attribute	Details
No. of Pages	145
Forecast Period	2025 - 2030
Estimated Market Value (USD) in 2025	$8.54 Billion
Forecasted Market Value (USD) by 2030	$17.19 Billion
Compound Annual Growth Rate	15.0%
Regions Covered	Global

Key Topics Covered:
1. EXECUTIVE SUMMARY
2. MARKET SNAPSHOT
2.1. Market Overview
2.2. Market Definition
2.3. Scope of the Study
2.4. Market Segmentation
3. BUSINESS LANDSCAPE
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Porter's Five Forces Analysis
3.5. Industry Value Chain Analysis
3.6. Policies and Regulations
3.7. Strategic Recommendations
4. TECHNOLOGICAL OUTLOOK
5. PET INSURANCE MARKET BY ANIMAL TYPE
5.1. Introduction
5.2. Dog
5.3. Cat
5.4. Others
6. PET INSURANCE MARKET BY POLICY TYPE
6.1. Introduction
6.2. Lifetime Cover
6.3. Non-Lifetime Cover
6.4. Accident-Only Cover
7. PET INSURANCE MARKET BY COVERAGE SCOPE
7.1. Introduction
7.2. Comprehensive (Illness + Accident)
7.3. Illness-Only
7.4. Accident-Only
7.5. Preventive Care Only
8. PET INSURANCE MARKET BY END-USER
8.1. Introduction
8.2. Individual Pet Owners
8.3. Professional Breeders and Kennels
8.4. Veterinary Clinics
9. PET INSURANCE MARKET BY GEOGRAPHY
9.1. Introduction
9.2. North America
9.2.1. USA
9.2.2. Canada
9.2.3. Mexico
9.3. South America
9.3.1. Brazil
9.3.2. Argentina
9.3.3. Others
9.4. Europe
9.4.1. Germany
9.4.2. France
9.4.3. United Kingdom
9.4.4. Spain
9.4.5. Others
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.5.2. UAE
9.5.3. Others
9.6. Asia Pacific
9.6.1. China
9.6.2. India
9.6.3. Japan
9.6.4. South Korea
9.6.5. Indonesia
9.6.6. Thailand
9.6.7. Others
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Market Share Analysis
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Competitive Dashboard
11. COMPANY PROFILES

• Nationwide Mutual Insurance Company
• MetLife Services and Solutions, LLC
• Healthy Paws Pet Insurance, LLC.
• Crum & Foster Pet Insurance Group
• Trupanion, Inc.
• Pet Plan Limited
• Embrace Pet Insurance Agency, LLC
• Animal Friends Insurance Services Limited
• Petsecure Pet Health Insurance
• 24PetWatch Pet Insurance

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Attachment

• Global Pet Insurance Market

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