PUBLISHER: The Business Research Company | PRODUCT CODE: 1852542
PUBLISHER: The Business Research Company | PRODUCT CODE: 1852542
Pet accident-only insurance is a specialized policy that covers veterinary expenses arising from accidental injuries, such as fractures, burns, bites, or poisoning. It does not cover illnesses, routine wellness care, or pre-existing conditions, making it a cost-effective option for pet owners seeking basic protection against unexpected emergencies without paying for broader health benefits.
The main types of pet accident-only insurance include pet liability insurance and pet medical insurance. Pet liability insurance protects owners from legal and financial obligations if their pet injures someone or damages property. This insurance covers a wide range of pets, including dogs, cats, exotic animals, and other small pets, with coverage options such as accident-only, comprehensive, liability, and end-of-life coverage. Distribution channels include direct-to-consumer platforms (online), insurance agents or brokers, veterinary partnerships, and pet retailers, serving both individual and commercial end users.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.
The pet accident only insurance market research report is one of a series of new reports from The Business Research Company that provides pet accident only insurance market statistics, including pet accident only insurance industry global market size, regional shares, competitors with a pet accident only insurance market share, detailed pet accident only insurance market segments, market trends and opportunities, and any further data you may need to thrive in the pet accident only insurance industry. This pet accident only insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pet accident only insurance market size has grown strongly in recent years. It will grow from $1.16 billion in 2024 to $1.27 billion in 2025 at a compound annual growth rate (CAGR) of 9.6%. The growth during the historical period was driven by rising global pet ownership, increasing veterinary treatment costs, growing awareness of pet care, higher demand for pet safety, and increasing household disposable income.
The pet accident only insurance market size is expected to see strong growth in the next few years. It will grow to $1.80 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth during the forecast period is expected to be driven by increasing adoption of pet insurance, rising incidents of pet accidents, growth in urban pet populations, greater availability of online policies, and heightened focus on companion animals. Key trends in this period include advancements in pet health monitoring, integration of AI in claims processing, technology-driven policy customization tools, development of mobile insurance applications, and innovations in wearable pet devices.
Rising pet ownership is driving growth in the pet accident-only insurance market by increasing demand for financial protection against unexpected veterinary costs. Pet ownership involves caring for domestic animals, including providing food, shelter, and medical attention. Ownership is growing as more people recognize pets' positive impact on mental health, including stress reduction and emotional support. Pet accident-only insurance helps owners cover sudden veterinary expenses, enabling timely medical care without financial strain. For instance, in March 2025, pet ownership in the US increased from 82 million households in 2023 to 94 million households, with 51% owning a dog and 37% owning a cat, according to the American Pet Products Association.
Leading providers are leveraging strategic partnerships and innovative solutions to expand market reach. Partnerships allow companies to combine expertise, improve service accessibility, and enhance offerings. For example, in November 2022, Dutch Pet Inc., a US-based veterinary telehealth provider, partnered with Synchrony to offer an exclusive Accident Only plan covering emergency veterinary expenses up to $10,000 per year, complementing Dutch's 24/7 virtual care services.
In July 2024, Odie Pet Insurance partnered with Insuritas to integrate customizable accident-only and injury-illness plans into Insuritas' BUNDLE platform. This collaboration aims to make pet insurance more accessible and affordable, allowing financial institutions to offer embedded pet insurance while expanding coverage and diversifying revenue streams.
Major players in the pet accident only insurance market are Trupanion Inc., Tesco Personal Finance plc, Anicom Holdings Inc., Nationwide Mutual Insurance Company, Embrace Pet Insurance Agency LLC, Animal Friends Insurance Services Limited, TICORP Limited, Pets Plus Us Inc., Pet Plan Limited, The Insurance Emporium Limited, Pets Best Insurance Services LLC, ASPCA Pet Health Insurance, Figo Pet Insurance, Agria Animal Insurance AB, Pumpkin Pet Insurance, Prudent Pet Insurance Agency LLC, American Kennel Club, Perfect Pet Insurance Limited, Spot Pet Insurance Ltd, Odie Pet Insurance Inc., Scratch and Patch Insurance Services Limited.
North America was the largest region in the pet accident only insurance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pet accident only insurance report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the pet accident only insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pet accident only insurance market includes revenues earned by entities by providing services such as emergency veterinary visits, surgery due to injury, treatment for fractures or broken bones, wound care and stitches, and bite or attack treatment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pet Accident Only Insurance Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pet accident only insurance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pet accident only insurance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The pet accident only insurance market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.