Frequently Asked Questions:
Pet Insurance Market also suffered from COVID 19 pandemic which resulted in declining revenue generated in 2020. The bulk of diagnostic and veterinary facilities were shut down as a result of lockdown measures taken by various governments, which is to blame for this.
Europe accounted for the highest share in the global pet insurance market in terms of value as well as volume.
The worldwide pet insurance market is expanding as a result of rising and increasing demand for market plans for pet insurance and the rise in demand for financial security in the event of surges in uncertainties.
Due to the rising popularity of pet insurance as well as the rising cost of medical care and prescription drugs, the accident & illness category of policy coverage is anticipated to gain a sizeable part of the market during the forecast period.
In 2021, the dogs category dominated the market and contributed for more than 50% of total sales.