Pet Insurance Market Size Is Expected To Reach USD 5.78 Billion By 2030
San Francisco, 8 January 2025: The Report Pet Insurance Market Size, Share & Trends Analysis Report By Coverage Type (Accident-only, Accident & Illness), By Animal Type (Dogs, Cats), By Sales Channel, By Region, And Segment Forecasts, 2025 - 2030 The global pet insurance market size is expected to reach USD 48.98 billion by 2030, registering a CAGR of 17.97% from 2025 to 2030, according to a new report by Grand View Research, Inc. The key factor driving the industry growth includes increasing veterinary care costs as a result of advancements in medical technology and treatments. Thus, pet owners are seeking insurance to help cover these expenses. According to the American Pet Products Association (APPA), the total pet spending in the U.S. alone was estimated to reach a record high of over $100 billion in 2023. This includes expenses, such as pet food, supplies, over-the-counter medications, veterinary care, and other services. The increasing tr...