PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1466169
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1466169
United Kingdom Pet Insurance Market, By Policy; By Animal; By Country, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
United Kingdom Pet Insurance Market Size Booming at Significant CAGR of 7.09% to Touch USD 730 Million by 2030
United Kingdom Pet Insurance Market is flourishing because of the growing pet population in the country and escalating costs of veterinary care.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the United Kingdom Pet Insurance Market size at USD 387.17 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the United Kingdom Pet Insurance Market size to expand at a CAGR of 7.09% reaching a value of USD 729.91 million by 2030. High regional pet ownership rates and rising veterinary care expenses are key growth drivers for the United Kingdom Pet Insurance Market. Pet insurance sales in the United Kingdom are also expected to have substantial growth potential over the period in analysis, due to the humanization of pets and the increased frequency of illnesses among them.
Opportunity: Escalating veterinary care costs
The need for pet insurance is rising as a result of the need to reduce costs related to major medical problems including illness and accidental injuries among pets. It is also anticipated that the spike in demand for veterinary healthcare facilities would boost the adoption of pet insurance, as these services frequently need considerable capital investment, specialists, and specialized diagnostic equipment, which results in greater treatment costs for pet owners.
United Kingdom Pet Insurance Market
Segmental Coverage
United Kingdom Pet Insurance Market - By Animal
Based on animal, the United Kingdom Pet Insurance Market is segmented into dogs, cats, horses, exotic pets, and others. The dogs segment accounts for the highest market share, followed by cats. Based on data from UK Pet Food, dogs are the most popular animal in the country, with a population of 12 million and a presence in 31% of British households. With 26% of homes owning one or more cats, cats remain the second most popular pets in the nation. However, rabbits are anticipated to register the highest growth rate over the period in analysis.
United Kingdom Pet Insurance Market - By Country
The in-depth research report on the United Kingdom Pet Insurance Market covers the following country-specific markets: England, Scotland, Wales, and Northern Ireland. England dominates the United Kingdom Pet Insurance Market owing to the high rate of pet ownership in the country. Around 38 million pets inhabit UK households, or approximately 57% of all households (16.2 million), according to the data by Veterinary Practice. With a high pet ownership rate in the United Kingdom, many industry players are launching new insurance products into the market, driving pet insurance market growth.
Competitive Landscape
Major players operating in the United Kingdom Pet Insurance Market include Pet Cover UK, ManyPets, PDSA Pet Insurance, Aviva, Agria Pet Insurance Ltd, Petplan Limited, Petsure, Direct Line Insurance Group Plc, Healthy Pets Insurance, RSPCA, Tedaisy Insurance Group, and Protectapet.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the United Kingdom Pet Insurance Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the United Kingdom Pet Insurance Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. United Kingdom Pet Insurance Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growing Pet Population in the UK
- 3.2.1.2. Escalating Costs of Veterinary Care
- 3.2.1.3. Rise in Pet Adoption Rates
- 3.2.1.4. Awareness and Education
- 3.2.2. Restraints
- 3.2.2.1. High Premium Costs
- 3.2.2.2. Lack of Awareness
- 3.2.2.3. Misunderstandings About Pet Insurance Being Similar to Human Health Insurance
- 3.2.2.4. Challenges Related to Transparent Coverage Terms and Conditions
- 3.2.3. Opportunities
- 3.2.3.1. Collaboration with Insurtechs
- 3.2.3.2. Customizable Coverage Options
- 3.2.3.3. Wellness and Routine Care Coverage
- 3.2.3.4. Technology Integration
- 3.2.4. Challenges
- 3.2.4.1. Educating Pet Owners
- 3.2.4.2. Fraud Prevention
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. United Kingdom Pet Insurance Market, Pricing Analysis
5. United Kingdom Pet Insurance Market: Marketing Strategies
6. United Kingdom Pet Insurance Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
- 6.2. Market Share and Forecast
- 6.2.1. By Policy
- 6.2.1.1. Illnesses and Accidents
- 6.2.1.2. Chronic Conditions
- 6.2.1.3. Others
- 6.2.2. By Animal
- 6.2.2.1. Dog
- 6.2.2.2. Cat
- 6.2.2.3. Horse
- 6.2.2.4. Exotic Pet
- 6.2.2.5. Others
- 6.2.3. By Country
- 6.2.3.1. England
- 6.2.3.2. Scotland
- 6.2.3.3. Wales
- 6.2.3.4. Northern Ireland
- 6.2.1. By Policy
7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. United Kingdom Pet Insurance Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on United Kingdom Pet Insurance Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 9.1. Petcover UK
- 9.2. ManyPets
- 9.3. PDSA Pet Insurance
- 9.4. Aviva
- 9.5. Agria Pet Insurance Ltd
- 9.6. Petplan Limited
- 9.7. Petsure
- 9.8. Direct Line Insurance Group Plc
- 9.9. Healthy Pets Insurance
- 9.10. RSPCA
- 9.11. Tedaisy Insurance Group
- 9.12. Protectapet
- 9.13. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents, By Country
- 11.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 United Kingdom Pet Insurance Segmentation
- Figure 2 United Kingdom Pet Insurance Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 United Kingdom Pet Insurance Market Size, By Value (USD Million), 2019-2030
- Figure 5 United Kingdom Pet Insurance Market Share, By Policy, By Value, 2019-2030
- Figure 6 United Kingdom Pet Insurance Market Share, By Animal, By Value, 2019-2030
- Figure 7 United Kingdom Pet Insurance Market Share, By Country, By Value, 2019-2030
List of Tables
- Table 1 United Kingdom Pet Insurance Market Size, By Value (USD Million), 2019-2030
- Table 2 United Kingdom Pet Insurance Market Share, By Policy, By Value, 2019-2030
- Table 3 United Kingdom Pet Insurance Market Share, By Animal, By Value, 2019-2030
- Table 4 United Kingdom Pet Insurance Market Share, By Country, By Value, 2019-2030
- Table 5 Petcover UK Company Overview
- Table 6 Petcover UK Financial Overview
- Table 7 ManyPets Company Overview
- Table 8 ManyPets Financial Overview
- Table 9 PDSA Pet Insurance Company Overview
- Table 10 PDSA Pet Insurance Financial Overview
- Table 11 Aviva Company Overview
- Table 12 Aviva Financial Overview
- Table 13 Agria Pet Insurance Ltd Company Overview
- Table 14 Agria Pet Insurance Ltd Financial Overview
- Table 15 Petplan Limited Company Overview
- Table 16 Petplan Limited Financial Overview
- Table 17 Petsure Company Overview
- Table 18 Petsure Financial Overview
- Table 19 Direct Line Insurance Group Plc Company Overview
- Table 20 Direct Line Insurance Group Plc Financial Overview
- Table 21 Healthy Pets Insurance Company Overview
- Table 22 Healthy Pets Insurance Financial Overview
- Table 23 RSPCA Company Overview
- Table 24 RSPCA Financial Overview
- Table 25 Tedaisy Insurance Group Company Overview
- Table 26 Tedaisy Insurance Group Financial Overview
- Table 27 Protectapet Company Overview
- Table 28 Protectapet Financial Overview
