PUBLISHER: Grand View Research | PRODUCT CODE: 1842357
PUBLISHER: Grand View Research | PRODUCT CODE: 1842357
U.S. Pet Insurance Market Size, Share & Trends Analysis Report By Coverage (Accident & Illness, Accident Only), By Animal (Dogs, Cats), By Sales Channel (Agency, Broker), By States, And Segment Forecasts, 2025 - 2033
U.S. Pet Insurance Market Summary
The U.S. pet insurance market size was estimated at USD 5.11 billion in 2024 and is projected to reach USD 25.21 billion by 2033, growing at a CAGR of 19.14% from 2025 to 2033. The market is experiencing significant growth driven by rising pet ownership and humanization of pets, increasing veterinary care costs, and growing awareness and marketing by providers.
The U.S ranks among the countries with the largest number of pets due to rising adoption rates and the increasing trend of treating pets as family members. According to a report of January 2025, 86.9 million households (approximately 66%) owned a pet. Pet humanization has propelled the demand for better healthcare, premium nutrition, and preventive care services.
As pet owners seek to ensure pets' wellbeing, insurance becomes an attractive option to offset expensive veterinary bills. According to a Forbes Advisor report of January 2025, the average annual expenditure for dogs was USD 1,400 and for cats was USD 1,150. Millennials and Gen Z, who dominate new pet adoptions, are particularly inclined towards financial planning and structured healthcare coverage for pets. In the U.S., dogs accounted for 5.36 million insured pets, making up about 80% compared to cats. The increasing humanization of pets and rising pet care expenditure are transforming the U.S. pet insurance industry.
Furthermore, growing veterinary expenses serve as a primary driver of the U.S. pet insurance industry. Advanced diagnostics, surgical interventions, and specialized treatments which were limited to human medicine earlier, have now become common in veterinary care, but they come with high costs. Some of the unexpected expenses for ailments like cancer, orthopedic issues, or emergency surgery can range from hundreds to thousands of dollars for pet owners.
The American Pet Products Association, in its Industry Stats and Trend Report, estimated that the total amount spent on pets in the U.S. is projected to reach USD 157 billion in 2025. The increasing use of advanced therapies like regenerative medicine and advanced imaging highlights the need for insurance for thorough and reasonably priced pet healthcare, while pet insurance lessens this financial burden by guaranteeing prompt care.
Strong marketing efforts and educational campaigns by insurers and veterinary networks are significantly fueling the growth of the U.S. pet insurance industry. Companies are strengthening digital platforms, social media, and partnerships with veterinary hospitals highlighting the benefits of coverage and build consumer trust.
For instance, in June 2025, Spot Pet Insurance partnered with pop star Kesha to launch a U.S.-wide campaign promoting pet healthcare and shelter support, offering customizable insurance, 24/7 telehealth, and adoption events. This initiative raises awareness while empowering pet owners to safeguard their pets' health effectively. The market has been further bolstered by greater clarity regarding coverage alternatives, wellness add-ons, and reimbursement rates. Employers who incorporate pet insurance into optional benefit plans have also made it more widely available and normalized its use. Pet insurance is being witnessed as a proactive way to guarantee that pets receive high-quality, reasonably priced healthcare as awareness grows, especially in cities where veterinarian expenses are higher.
U.S. Pet Insurance Market Report Segmentation
This report forecasts revenue growth at the country, state levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the U.S. pet insurance market report based on coverage, animal, sales channel, and states.
- Coverage Outlook (Revenue, USD Million, 2021 - 2033)
- Accident & Illness
- Accident only
- Others
- Animal Outlook (Revenue, USD Million, 2021 - 2033)
- Dogs
- Cats
- Others
- Sales Channel Outlook (Revenue, USD Million, 2021 - 2033)
- Agency
- Broker
- Direct
- Bancassurance
- Others
- State Outlook (Revenue, USD Million, 2021 - 2033)
- California
- New York
- Florida
- Texas
- New Jersey
- Pennsylvania
- Massachusetts
- Washington
- Illinois
- Other States
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Segment Definitions
- 1.2.1. Coverage
- 1.2.2. Animal
- 1.2.3. Sales Channel
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased Database
- 1.4.2. GVR's Internal Database
- 1.4.3. Secondary Sources
- 1.4.4. Primary Research
- 1.5. Information/Data Analysis
- 1.5.1. Data Analysis Models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis
- 1.7.2. Top-Down Analysis
- 1.7.3. Bottom Up Approach
- 1.7.4. Multivariate Analysis
- 1.8. List of Secondary Sources
- 1.9. List of Abbreviations
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. U.S. Pet Insurance Market Variable Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Ancillary/Related Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Rising Pet Ownership And Humanization Of Pets
- 3.2.1.2. Increasing Veterinary Care Costs
- 3.2.1.3. Growing Awareness And Marketing By Providers
- 3.2.1.4. Initiatives By Key Companies
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Cancellation of Policies
- 3.2.2.2. Pet Insurance Cost Concerns
- 3.2.3. Market Opportunity Analysis
- 3.2.4. Market Challenge Analysis
- 3.2.1. Market Driver Analysis
- 3.3. Regulatory Framework
- 3.4. Technology Landscape
- 3.5. Pricing Model Analysis
- 3.6. Estimated Pet Population by species, 2024
- 3.7. Market Analysis Tools
- 3.7.1. Porter's Five Forces Analysis
- 3.7.2. PESTEL by SWOT Analysis
Chapter 4. U.S. Pet Insurance Market: Coverage Estimates & Trend Analysis
- 4.1. U.S. Pet Insurance Market, By Coverage: Segment Dashboard
- 4.2. U.S. Pet Insurance Market, By Coverage Movement Analysis
- 4.3. U.S. Pet Insurance Market Estimates & Forecasts, by Coverage, 2021 to 2033 (USD Million)
- 4.4. Accident & Illness
- 4.4.1. Accident & Illness Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.5. Accident only
- 4.5.1. Accident only Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 4.6. Others
- 4.6.1. Others Market Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 5. U.S. Pet Insurance Market: By Animal Estimates & Trend Analysis
- 5.1. U.S. Pet Insurance Market, By Animal: Segment Dashboard
- 5.2. U.S. Pet Insurance Market, By Animal Movement Analysis
- 5.3. U.S. Pet Insurance Market Estimates & Forecasts, by Animal, 2021 to 2033 (USD Million)
- 5.3.1. Dogs
- 5.3.1.1. Dogs Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.3.2. Cats
- 5.3.2.1. Cats Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.3.3. Others
- 5.3.3.1. Others Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 5.3.1. Dogs
Chapter 6. U.S. Pet Insurance Market: By Sales Channel Estimates & Trend Analysis
- 6.1. U.S. Pet Insurance Market, By Sales Channel: Segment Dashboard
- 6.2. U.S. Pet Insurance Market, By Sales Channel Movement Analysis
- 6.3. U.S. Pet Insurance Market Estimates & Forecasts, by Sales Channel, 2021 to 2033 (USD Million)
- 6.3.1. Agency
- 6.3.1.1. Agency Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.2. Broker
- 6.3.2.1. Broker Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.3. Direct
- 6.3.3.1. Direct Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.4. Bancassurance
- 6.3.4.1. Bancassurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.5. Others
- 6.3.5.1. Others Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 6.3.1. Agency
Chapter 7. U.S. Pet Insurance Market: State Estimates & Trend Analysis
- 7.1. U.S. Pet Insurance Market Share, By State, 2024 & 2033 (USD Million)
- 7.2. California
- 7.2.1. California Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.3. New York
- 7.3.1. New York Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.4. Florida
- 7.4.1. Florida Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.5. Texas
- 7.5.1. Texas Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.6. New Jersey
- 7.6.1. New Jersey Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.7. Pennsylvania
- 7.7.1. Pennsylvania Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.8. Massachusetts
- 7.8.1. Massachusetts Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.9. Washington
- 7.9.1. Washington Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.10. Illinois
- 7.10.1. Illinois and Africa Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
- 7.11. Other States
- 7.11.1. Other States Pet Insurance Market Estimates and Forecasts, 2021 - 2033 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Market Participant Categorization
- 8.1.1. Market Leaders
- 8.1.2. Emerging Players
- 8.2. Market Share/Assessment Analysis, 2024 (Heat Map Analysis)
- 8.3. Company Profiles
- 8.3.1. Trupanion, Inc.
- 8.3.1.1. Participant's Overview
- 8.3.1.2. Financial Performance
- 8.3.1.3. Service Benchmarking
- 8.3.1.4. Strategic Initiatives
- 8.3.2. Jab Holding Company
- 8.3.2.1. Participant's Overview
- 8.3.2.2. Financial Performance
- 8.3.2.3. Service Benchmarking
- 8.3.2.4. Strategic Initiatives
- 8.3.3. Nationwide Mutual Insurance Company
- 8.3.3.1. Participant's Overview
- 8.3.3.2. Financial Performance
- 8.3.3.3. Service Benchmarking
- 8.3.3.4. Strategic Initiatives
- 8.3.4. Allianz
- 8.3.4.1. Participant's Overview
- 8.3.4.2. Financial Performance
- 8.3.4.3. Service Benchmarking
- 8.3.4.4. Strategic Initiatives
- 8.3.5. Fetch Pet Insurance
- 8.3.5.1. Participant's Overview
- 8.3.5.2. Financial Performance
- 8.3.5.3. Service Benchmarking
- 8.3.5.4. Strategic Initiatives
- 8.3.6. Spot Pet Insurance
- 8.3.6.1. Participant's Overview
- 8.3.6.2. Financial Performance
- 8.3.6.3. Service Benchmarking
- 8.3.6.4. Strategic Initiatives
- 8.3.7. MetLife, Inc.
- 8.3.7.1. Participant's Overview
- 8.3.7.2. Financial Performance
- 8.3.7.3. Service Benchmarking
- 8.3.7.4. Strategic Initiatives
- 8.3.8. Odie Pet Insurance
- 8.3.8.1. Participant's Overview
- 8.3.8.2. Financial Performance
- 8.3.8.3. Service Benchmarking
- 8.3.8.4. Strategic Initiatives
- 8.3.9. Crum & Foster
- 8.3.9.1. Participant's Overview
- 8.3.9.2. Financial Performance
- 8.3.9.3. Service Benchmarking
- 8.3.9.4. Strategic Initiatives
- 8.3.10. ManyPets (EQT Group)
- 8.3.10.1. Participant's Overview
- 8.3.10.2. Financial Performance
- 8.3.10.3. Service Benchmarking
- 8.3.10.4. Strategic Initiatives
- 8.3.11. Lemonade Inc.
- 8.3.11.1. Participant's Overview
- 8.3.11.2. Financial Performance
- 8.3.11.3. Service Benchmarking
- 8.3.11.4. Strategic Initiatives
- 8.3.1. Trupanion, Inc.
List of Tables
- Table 1 List of Secondary Sources
- Table 2 List of Abbreviations
- Table 3 U.S. Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 4 U.S. Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 5 U.S. Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 6 U.S. Pet Insurance Market, by State, 2021 - 2033 (USD Million)
- Table 7 California Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 8 California Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 9 California Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 10 California Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 11 California Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 12 California Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 13 New York Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 14 New York Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 15 New York Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 16 Florida Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 17 Florida Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 18 Florida Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 19 Texas Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 20 Texas Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 21 Texas Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 22 New Jersey Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 23 New Jersey Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 24 New Jersey Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 25 Pennsylvania Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 26 Pennsylvania Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 27 Pennsylvania Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 28 Massachusetts Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 29 Massachusetts Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 30 Massachusetts Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 31 Washington Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 32 Washington Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 33 Washington Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
- Table 34 Illinois Pet Insurance Market, By Coverage, 2021 - 2033 (USD Million)
- Table 35 Illinois Pet Insurance Market, By Animal, 2021 - 2033 (USD Million)
- Table 36 Illinois Pet Insurance Market, By Sales Channel, 2021 - 2033 (USD Million)
List of Figures
- Fig. 1 Market research process
- Fig. 2 Information Procurement
- Fig. 3 Primary Research Pattern
- Fig. 4 Market Research Approaches
- Fig. 5 Value Chain-Based Sizing & Forecasting
- Fig. 6 Market Formulation & Validation
- Fig. 7 U.S. Pet Insurance Market, Market Segmentation
- Fig. 8 Market Driver Relevance Analysis (Current & Future Impact)
- Fig. 9 Market Restraint Relevance Analysis (Current & Future Impact)
- Fig. 10 Market Challenge Relevance Analysis (Current & Future Impact)
- Fig. 11 SWOT Analysis, By Factor (Political & Legal, Economic and Technological)
- Fig. 12 Porter's Five Forces Analysis
- Fig. 13 State Marketplace: Key Takeaways
- Fig. 14 U.S. Pet Insurance Market, for Coverage, 2021 - 2033 (USD Million)
- Fig. 15 U.S. Pet Insurance Market, for Accident & Illness, 2021 - 2033 (USD Million)
- Fig. 16 U.S. Pet Insurance Market, for Accident only, 2021 - 2033 (USD Million)
- Fig. 17 U.S. Pet Insurance Market, for Others, 2021 - 2033 (USD Million)
- Fig. 18 U.S. Pet Insurance Market, for Animal, 2021 - 2033 (USD Million)
- Fig. 19 U.S. Pet Insurance Market, for Dogs, 2021 - 2033 (USD Million)
- Fig. 20 U.S. Pet Insurance Market, for Cats, 2021 - 2033 (USD Million)
- Fig. 21 U.S. Pet Insurance Market, for Others, 2021 - 2033 (USD Million)
- Fig. 22 U.S. Pet Insurance Market, for Sales Channel, 2021 - 2033 (USD Million)
- Fig. 23 U.S. Pet Insurance Market, for Agency, 2021 - 2033 (USD Million)
- Fig. 24 U.S. Pet Insurance Market, for Broker, 2021 - 2033 (USD Million)
- Fig. 25 U.S. Pet Insurance Market, for Direct, 2021 - 2033 (USD Million)
- Fig. 26 U.S. Pet Insurance Market, for Bancassurance, 2021 - 2033 (USD Million)
- Fig. 27 U.S. Pet Insurance Market, for Others, 2021 - 2033 (USD Million)
- Fig. 28 State Outlook, 2024 & 2033
- Fig. 29 California Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 30 New York Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 31 Florida Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 32 Texas Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 33 New Jersey Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 34 Pennsylvania Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 35 Massachusetts Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 36 Washington Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 37 Illinois Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 38 Other States Pet Insurance Market, 2021 - 2033 (USD Million)
- Fig. 39 Key Company Categorization
- Fig. 40 Service Heat Map Analysis
- Fig. 41 Strategic framework
